BUDGETING FOR A STRONGER BANKING SYSTEM: UNION BUDGET 2018-19 OPPORTUNITIES FOR BANKS

VANI V

BUDGETING FOR A STRONGER BANKING SYSTEM: UNION BUDGET 2018-19 OPPORTUNITIES FOR BANKS

Authors: VANI V

Unique Paper ID: 170969
Volume: 4
Issue: 11
PageNo: 2060-2065

Keywords: Union Budget Macroeconomic GDP MSME RSBY TREDS PMGSY

Abstract:
the Union Budget 2018-19 was presented by Finance Minister Arun Jaitley, focusing on strengthening agriculture, rural development, health, education, employment, MSMEs, and infrastructure development. Agriculture and Rural Economy: The government increased the MSP for all unannounced kharif crops to at least 1.5 times of their production cost. The volume of institutional credit for agriculture was increased to Rs 10 lakh crore. Health: The world's largest government-funded healthcare program, the National Health Protection Scheme, was announced to cover over 10 crore poor and vulnerable families, providing coverage up to Rs 5 lakh per family per year. Education: The government announced the setting up of Ekalavya Model Residential Schools to provide quality education to tribal children. A major initiative, "Revitalizing Infrastructure and Systems in Education (RISE) by 2022," was launched with a total investment of Rs 1,00,000 crore. Employment: The government contributed 12% of the wages of new employees in the EPF for all sectors for the next three years. The Budget also proposed amendments to the Employees Provident Fund and Miscellaneous Provisions Act to reduce women employees' contribution to 8% for the first three years of their employment. Infrastructure: The government allocated Rs 5.97 lakh crore for infrastructure development, with a focus on road, rail, and air transport. The Bharatmala Pariyojana was announced to develop 35,000 km of road construction in Phase-I at an estimated cost of Rs. 5,35,000 crores.

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ISSN: 2349-6002
Volume: 4
Issue: 11
PageNo: 2060-2065

BUDGETING FOR A STRONGER BANKING SYSTEM: UNION BUDGET 2018-19 OPPORTUNITIES FOR BANKS

Available:https://ijirt.org/Article?manuscript=170969

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