Breaking Down Budget 2018 in Numbers
₹ 2,95,511.41 crore has been earmarked for year 2018-2019 in the budget which was presented by Finance Minister Arun Jaitley. News 18 looks at where and how the money will be spent.
By Sheikh Saaliq
was alloted for agriculture. Allocation for food processing and specialized agro-processing have been doubled from Rs 700 crore to Rs 1400 crore.
The farmers were assured a Minimum Support Price (MSP) 1.5 times the cost of production. "The government will ensure payment of full MSP even if market prices are below MSP," Jaitley said. Restructured National Bamboo Mission will be launched with an allocation of Rs 1,290 crore to promote bamboo sector in a holistic manner.
₹ 1,200 cr
was allocated for National Health Protection Scheme, that Jaitley claimed is the world’s largest government-funded universal healthcare programme. Health and wellness centres will bring healthcare closer and more accessible to people. National Health Policy will have Rs 600 crore corpus set up to help TB patients.
₹ 1,48,528 cr
was allotted for Railways. At least 600 major railway stations will be modernized. Over 3,600 km of track renewal is being targeted in 2018-19. Rs 17,000 crore allocated for Bengaluru Metro. Rs. 11,000 crore allocated for Mumbai rail network.
₹ 10, 000 cr
will be invested in ‘Revitalising Infrastructure and Systems in Education (RISE) by 2022’ in next four years to step up investments in research and related infrastructure in premier educational institutions, including health institutions.
₹ 95, 745 cr
was earmarked for Schedule Caste and Schedule Tribes of the country. The government increased the allocation for SCs in 279 programmes to ₹ 52,719 crore from ₹ 34,334 crore in 2016-17. Likewise, for STs, earmarked allocation was increased from ₹ 21,811 crore in 2016-17 to ₹ 32,508 crore in 2017-18 in 305 programmes.
of the total Central Government expenditure for the year 2018-2019 accounts for defense. Out of ₹2,95,511.41 crore, the total overlay of the budget, ₹ 24, 42, 213 crore were earmarked for defense. This is an increase of 7.81% compared to the estimate of last year's budget.
of GDP is the projected Fiscal Deficit for the year 2018-19 . Fiscal Deficit was brought down to 4.1% in 2014-15 to 3.9% in 2015-16, and to 3.5% in 2016-17. Revised Fiscal Deficit estimates for 2017-18 are 5.95 lakh crore at 3.5% of GDP.