Highlights of Union Budget-III

Finance Minister Arun Jaitley is presenting the Union Budget for financial year 2017-18.

Highlights of the Union Budget are as follows:

• I am reminded of what our father of the nation Mahatma Gandhi said 'a right cause never fails'.

• With better Monsoon, Agriculture is expected to grow at 4.1% in current year.

• My approach in preparing the Budget is to spend more on rural areas, infrastructure and poverty alleviation with fiscal prudence.

• Issuance of soil health cards have gathered momentum, will setup a mini lab in 'krishi vigyan kendras'.

• Dairy processing infrastructure fund will be set up under NABARD, with fund of 8,000 crore.

• Target of agricultural loans to farmers set at record of Rs 10 lakh crore in 2017-18.

• Participation of women in MNREGA has increased to 55%.

• Budget allocation to MNREGA increased to a record Rs 48,000 crore for 2017-18, from Rs 37,000 crore in 2016-17. Highest allocation ever announced for job guarantee scheme MNREGA.

• Total allocation for rural, agricultural and allied sectors for 2017-18 is Rs 187223 cr, which is 24% higher than last year.

• We will undertake mission to bring households out of Poverty. We will bring out 50,000 panchayats out of poverty by 2019.