The Budget for the financial year 2017-18 was presented by Finance Minister Arun Jaitley today in the Parliament. In the wake of the recent demonetization, the nation was awaiting this budget with bated breath and here is what it means to an aam-aadmi with kids (like you and me!). The good news first- the Government has increased the allocation for women and children welfare from Rs 1.56 lakh crore to Rs 1.84 lakh crore!
Focus raised on child-centric budgetary allocation. #Budget2017 #BudgetforBetterIndia #Budget4Women pic.twitter.com/9NoetRKiGI
— Ministry of WCD (@MinistryWCD) February 1, 2017
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Highlights of Budget 2017-18:
1.If your income is between 2.5 lakh-5 lakh, the taxation rate has been cut down to 5% from the current 10%. For a common man, less tax means lesser worries!
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2. For pregnant women and lactating mothers, government’s maternity benefits program “Indira Gandhi Matritva Sahyog Yojana (IGMSY)” will see a five-fold increase in the fund allocationcompared to the previous year.
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3. In a bid to bring down the maternal mortality rate, the Government has announced a financial assistance of Rs 6000 for hospital admission, vaccination and nutritional food to pregnant women.
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4. No cash transaction above Rs 3 lakhs will be permitted. A welcome move for a corruption-free India for our kids tomorrow.
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5. With more focus on education, the government has proposed steps to be taken to improve learning levels in schools in rural India. That’s a big boost to education and in turn, the citizens of tomorrow.
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6. Booking railway tickets through IRCTC just got cheaper- which means more family holidays, this year! You might want to check our KSP Travel Guide for happier holidays this year!
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7. Courses on foreign languages to be introduced. Also linking of online courses on Swayam platform to enable student access high-quality education resource.
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The focus for this year’s budget has clearly been on building Digital India, to ensure rural development on socio-economic and education fronts. What’s your take on the budget? Let us know in the comments below.
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Image source: RealFMGrenada
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