1

O J JohnSenior Fellow

Centre for Rural Management (CRM)National Agency

Accredited by MoPR and MoRD, Govt. of India, New Delhi

Union Budget, 2015-2016

An OverviewFinancial Inclusion of Local People

through the Union Budget 2015-2016 Implications on

Madhur Panchayat

Second Presentation

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Union Budget 2015-16Presented in Parliament on 28th February 2015

Not mere Statement of Account of Public Finances

Indication of the Direction and Pace of Economy

Road Map for :- Accelerating Growth

Enhancing Investment

Improving the Quality of Life of the Common People (Farmers, Women, Youth & Students

Madhur Panchayat ?

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Core Objectives Cooperative and Competitive Federalism

Team India (Team Madhur Panchayat ?)

States Equal Partners in Economic Growth

42% Share of Taxes to States

States are Major Actors

Union Govt. to Guide and Support

Make India a Cash Less Society

Social Sector Programmes to Continue

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• JAM Trinity (Madhur Panchayat ?)

• Swatch Bharat Abhiyan (Swatch Madhur Abhiyan ?)

• Goods & Service Taxes

Major Initiatives/Reforms

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•Housing for All

• Basic Amenities for Each & Every Household

• Employment One Member of a Family

• Elimination of Absolute Poverty

• Total Electrification of Villages

• Uninterrupted 24 hours Electricity

• Vision -2022 – Madhur Panchayat ?

Vision – 2022 (Platinum Jubilee Goals)

Contd….

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• All Weather Roads to Habitations

• Universal Medical Coverage

• Educating and Skilling Youth

• Increasing Agricultural Productivity

• Broad Band Connectivity to all Villages

• Vision -2022 – Madhur Panchayat ?

Vision – 2022 (Platinum Jubilee Goals)

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Good Governance:- Round the Clock, Round the Year

Government Less Government , More Governance Red Tape to Red Carpet Ease of Doing Business Self Certification Madhur Panchayat ?

Thrust Areas

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• Soil and Water

• Per Drop More Crop

• Soil Health Card Scheme

• Paramparagat Krishi Vikas Yojana

• Pradhanmantri Gram Sinchai Yojana

• Hassle Free Farm Credit

• RIDF under NABARD

• Unified National Agricultural Market

Agriculture

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•MUDRA Bank

• TReDS

• Payment Banks under Postal Dept.

•NBFCs

•Madhur Panchayat ?

Funding the Unfunded:-

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• Pradhan Mantri Suraksha Bima Yojana

• Atal Pension Yojana

• Pradhan Mantri Jeevan Jyoti Bima Yojana

• Senior Citizen/Welfare Fund

• Physical Aids & Living Devices for Senior Citizens

• Welfare SCs, STs & Women

• Nai Manzil for Minority Youth

• Madhur Panchayat ?

Jan Suraksha (Universal Social Security Systems):-

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• Increase in Public Investment

• National Investment and Infrastructure Fund (NIIF)

• Tax Free Infrastructure Bonds

• PPP

• Atal Innovation Mission (AIM)

• Self – Employment and Talent Utilization (SETU)

• Corporatization of Ports

• Expert Committee for forming Easy Regulatory Mechanism for Investors

• Set up 5 Ultra Mega Power Projects

Infrastructure:-

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• Gold Monetization Scheme

• Sovereign Gold Bond

• Indian Gold Coin

Monetizing Gold:-

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•Nirbhaya Fund

•Safe Madhur Panchayat ?

Safe India:-

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• FAME (Faster Adoption & Manufacturing of Electric Vehicles)

• Enhancement of Target of Renewable Energy Capacity

• Green Madhur Panchayat ?

Green India

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• Global Manufacturing Hub

• Making Madhur ?

Make in India

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• National Skill Mission

• Deen Dayal Upadhyay Gramin Kausal Yojana

• Pradhan Mantri Vidya Lakshmi Karyakram

• One Central Institute in each State

• Skill Madhur Panchayat ?

Skill India

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• National Optical Fibre Network Programme (NOFNP)

• Digital Madhur Panchayat ?

Digital India

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• Education

• Health

• Rural Development

• Housing & Urban Development

• Women & Child Development

• SCs/STs Development

• Water Resources & Namami Gange

Social Sector Programme

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• Plan Expenditure - 4, 65, 277

• Non-Plan Expenditure - 13, 12, 200

• Total - 17, 77, 477

• Tax Receipts - 14, 49,490

• Non-Tax Revenues - 2, 21,733

• Total - 16, 71,223

• Fiscal Deficit - 3.9% of GDP

• Revenue Deficit - 2.8% of GDP

• G.D.P Growth - 8 to 8.5%

Budgets Estimates – 2015-16 (Rs. in Crores)

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Six Pillars:-

• Measures to Curb Black Money

• Job Creation

• Minimum Government – Maximum Governance

• Swatch Bharat Initiatives

• Benefits to Common People

• Stand alone Proposals

Taxation Policy

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Thank

You