Economic Survey (2015-16):
- India’s GDP may be in 7-7.75 per cent range in 2016-17.
- Gross domestic savings have stayed at 33 per cent of GDP.
- India’s Tax payers at 4% (23%). Rising income would expand the tax base.
- Corporate & Banks need 4Rs: Recognition, Recapitalisation, Resolution and Reform
- 5 per cent Krishi Kalyan Cess / Fasal Bima Yojana.
- 5 lakh acres organic farming / 28.5 lakh ha. Pradhan Mantri Krishi Sinchai Yojana.
- Dedicated Long Term Irrigation Fund in NABARD with a corpus of Rs. 20,000 Crs.
- Sustainable Ground Water / 5 lakh farm ponds and 10 lakh compost pits.
- Soil Health Cards / 2,000 model fertilizer outlets with Soil and Seed testing facilities.
- Unified Agricultural Marketing E Platform on 14th April, 2016.
- 38,500 crore for MGNREGA / 2.87 lakh Crs to GPs, Municipalities (Jump of 228%)
- 300 Rurban clusters to be set up under Shyama Prasad Mukherji Rurban Mission
- Drought/ rural distress areas to be taken under Deen Dayal Antoyodaya Mission.
- All villages will be electrified by 1st May, 2018.
- DBT in fertilizer will be launched on pilot basis./ Automation of 3 lakh (5.35) FPS.
- LPG in the name of women of BPL family, Rs 2000 Crs. for 5 years.
- 3000 stores under Prime Minister’s Jan Aushadhi Yojana in 2016- 17.
- National Dialysis Services Programme will be launched. (2.2 lakh renal patients/year)
- A new Eco System for SC/ST entrepreneurs and SC/ST Hub in MSME Ministry.
- Digital Repository / 1000 Crs. For Higher Learning / 62 Navodaya Vidyalayas
- Digital literacy scheme to be launched to cover 6 Crore additional rural households
- 1500 Multi Skill Training Institutes will be set up under PM Kaushal Vikas Yojana
- NB for Skill Development Certification in partnership with Industry and Academia.
- Entrepreneurship Training in Colleges, Schools, ITIs and VT Centers through MOOC.
- Interlinking of State Employment Exchanges with National Career Service Platform.
Investments and infrastructure
- 100 Kms per day / Amendment to Cos Act and EDBI
- Allocates 22.5% more for infrastructure development.
- To raise FI Investment in PSEs except banks to 49% (24%)
- Under Disinvestment, total stake sales in 2016/17 seen at 56,500 Crs.
- To encourage CPSEs to Divest own assets for raising Resources for New projects
- 100 percent FD Investment to be allowed in Food Processing industry
Banking & Taxation:
- PSU Banks get Rs 25,000 Crs towards recapitalisation. (1.8L Crs)
- Target of disbursement under MUDRA increased to 1.8L Crs.
- Govt to increase ATMs, micro-ATMs in POs in next three years
- Government along with central bank to set retail inflation target every 5 years
- Net revenue gain of 1.96L Crs from Taxes
- Proposes limited Compliance window on undeclared income of domestic Tax payers
- Total subsidy seen at 25000 Crs in 2016/17 (* Food * Petroleum * Fertilizer)
‘Ek Bharat Shreshtha Bharat’ will be launched to link States and Districts.
- Rationalization of Central Plan Schemes. (1500 is 330 Central / Sponsored Schemes).
- India likely to be fastest growing major economy in the world in 2016
- Current Account Deficit (CAD) limits at 1.4 percent of GDP / Forex reserve at $350 bn.
- Financial inclusion proceeding with pace under PMJD Yojana
- Services Sector remains key driver of economic growth, with 66.1% growth in 2015-16
- India ranks first in milk production, accounting for 18.5 percent of world production
- Impressive strides made in the power sector: Addition of generation capacity, moves towards one market in power, reform of discoms and development of renewable energy
Important: Agriculture – Skill – Entrepreneurship – Environment – Women – Digital India.