The Budget Session of Parliament began today. The President
addressed both houses to deliver the President's
address. Some highlights from the address are:
The rate of inflation, balance of payments,
current account deficit and fiscal deficit have consistently reduced since
2014. FDI inflows in 2015-16 were USD 55.6 billion, the highest for any
financial year. FDI policy was liberalised in June 2016.
Financial inclusion: Over 26 crore Jan Dhan
accounts have been opened and over 20 crore RUPAY debit cards have been issued
to enable cashless payments.
Under One Rank One Pension, more than Rs 6,200
crore has been released to over 19.6 lakh veterans of armed forces. The total
financial implications would be around Rs 11,000 crore.
The Pradhan Mantri YUVA Yojana has been launched
for promoting entrepreneurship education and training for seven lakh students.
the Deen Dayal Antyodaya Yojana, which aims to empower women, over Rs 16,000
crore has been made available to Self Help Groups in 2016-17. The scheme aims
to reach out to nearly five crore women.
Under the BharatNet Project, optical fibre
cables now cover over 75,700 panchayats.
Pradhan Mantri Fasal Bima Yojana expanded
risk-coverage, doubled the sum insured, and facilitated low premium for
farmers. During Kharif 2016, around 3.66 crore farmers were insured for a sum
of Rs 1.4 lakh crore.
corpus of NABARD fund has been doubled to Rs 41,000 crore to ensure easy credit
access to farmers.