Modi Govt. comes up with pro-farmers Budget 2016

By Abha Manakatala - Mon Feb 29, 1:00 pm

Arun_Jaitley_-_161_2326020gTop functionaries in Jharkhand today greeted the annual Budget 2016 presented on the floor of the Lok Sabha in New Delhi today by the Narendra Modi government.

Apart from Chief Minister Raghubar Das and former CM Arjun Munda,Independent Rajya Sabha MP Parimal Nathwani said that the budget for financial year 2016-17 is encouraging for agriculture, rural, social, infrastructure and health sectors.

“Provision of Rs35,000 crore has been made for agriculture sector and Rs20,000 crore has been allotted to bring in 28 lakh hectare land under irrigation during the financial year. The finance minister has made a provision of Rs87,757 crore for rural development which expresses the government’s commitment for the development of the rural India’,said Nathwani.

The Finance Minister has made a provision of Rs55,000 crore for roads and highways and the highest ever provision of Rs38,500 crore for MNREGA which provide employment to people,said Nathwani.

“Besides, allocation of Rs2,000 for providing LPG to BPL families in the country will not only provide health benefits to the women but also save time. 3,000 new generic medicine shops will be opened”,said Nathwani.

He pointed out that there is provision for electrification of 100% villages by May 2018, which is very important provision for rural community. The budget will encourage entrepreneurs belonging to SC/ST and help in bringing in social equality in the country. The tax relaxation for startups and MSME sector will help in generating more employment opportunities in the country.

Adding further Nathwani said;”The budget will help in bringing back the black money. From financial point of view, the GDP growth is estimated at 7.6% which is higher than many other countries in the world. The consumer inflation is expected to remain at 5.4%.

The fiscal deficit has come down from $18 billion to $14 billion and is expected to remain at 1.4% of GDP which is also a good sign. As a part of tax reforms, 13 Cess have been abolished. The foreign exchange in the country stands at $350 billion. Overall, the finance minister has focused on agriculture and rural social sector which reflects the government’s confidence that Indian Economy is robust.”

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