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The Union Government has allocated Rs. 2000 Crore to the Agri-Market Development Fund for developing Agricultural markets of India in the Union Budget 2018. The Union Government has allocated Rs. 200 Crore to the field of Organic Farming Sector of India in the Union Budget 2018. The Union Government has allocated Rs. 12000 Crore for Fishery, Aquaculture and Animal Husbandry funds in the Union Budget 2018. The Union Government has raised the amount of credit for the Agricultural Activities from Rs. 10 Lakh Crore to Rs. 11 Lakh Crore. The Government has announced Rs. 500 Crore for „Operation Green‟ to the address price volatility of potato, tomato and onion. It would benefit the producers –consumer’s organizations, processing facilities and professional management. The minimum support price for all the crops shall be increased 1.5 times to the production cost. The Minimum Support Price would be decided by the CACP (Commission For Agricultural Cost and Prices). Rs.200 Crore are allocated to support the organized cultivation of highly specialized medicinal and aromatic plants and associated industry. Government has decided to develop 22,000 rural Haats and upgrade those into Gramin agricultural markets (grams) so that the farmers can directly sell to the consumers and bulk purchasers. Facility of Kisan credit cards is extended to the fisheries and animal husbandry farmers to help them to meet their working capital needs. Rs.10,000 Crore funds is announced cumulatively for infrastructure development in these two sectors. The Government has decided to pay 100% MSP to the farmers if they sell the crops below the MSP. The amount of loan that would be given to the Self Help Groups would increase to Rs. 75000 Crore by March 2019. The Government would spend Rs. 14.34 Lakh Crore for providing livelihood in Rural India. 8 crore poor women would get new LPG connections under Pradhan Mantri Ujjwala Yojona. 4 crore poor people would get power connection. The government will spend Rs 16,000 crore on this scheme. - Pradhan Mantri Saubhagya ( Sahaj Bijli Har Ghar Yojana) scheme. Government has also planned to construct 2 Crore toilets in next fiscal year under Swach Bharat Mission. Government has targeted house for all by 2022. 51 lakh houses have been constructed affordable houses in rural and further 50 lakh houses in urban areas. 1 Crore houses to be built under Pradhan Mantri Awas Yojana in rural areas. Finance Minister of India Arun Jaitley has stated that there would 100% tax reduction in case of FPOs having the turnover of 100 Crore. The growth of Direct Taxes would be 12.6% in the Financial year 2018-2019.

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100% Income Tax is exempted in case of Farmer Producer Companies having the turnover of – 100 Crore or more. 100% Income Tax is exempted in case of MSMEs with turnover of 250 Crore. In IITs and NITs, 18 new schools of planning and architecture would be established. The Union Government has allocated Rs. 3794 Crore for credit support through capital and interest subsidy to the MSMEs in the Union Budget 2018. The Union Government has allocated Rs. 3 Lakh Crore for lending for MUDRA scheme in FY 2018-19. The Government has spent Rs. 1.38 Lakh Crore for health care and education. The Government has committed Rs. 1200 Crore for the National Health Policy Program and invites contribution from the private sectors. The Government has committed Rs. 600 Crore for the nutritional support of the TB patients. The patients would get Rs. 500 per month during their treatment. The mission would continue till 2025. Govt to create mechanism for post-harvest facilities Next kharif crop MSP to be at least 1.5 times of cost. The Government has emphasized on generating gainful farm, non-farm jobs, focused on low-cost farming, higher selling price, institutional system for farm goods price, demand forecast. NITI Aayog would make a robust system for fair price to the farmers. 470 APMCs (Agricultural Produces Market Committee) would be connected to eNAM, rest to be connected by March. The Government would set up 42 mega food parks for farm exports. The Government has decided to increase the Digital intensity in the field of education. For this purpose, a fund of Rs. 1 Lakh Crore is allocated to the revitalization and up gradation of the education sector under RISE (Revitalizing Infrastructure in School Education) by 2022. The learning based outcomes and research would also be promoted by Government. It would be funded by HEFA (Higher Education Funding Agency). The Government has decided to build the “Ekalavya Model Residential Schools” in every block having ST population of 50% at par with the Navodaya Vidyalayas within 2022. There must be 20000 Tribal people in these blocks. The Government has aimed to provide digital boards instead of black boards in schools by 2022. Under the PM Research Fellows scheme, 1000 students would be identified by the Government every year. These students would be eligible to pursue PHDs in IIT and IISc and can also teach the undergraduate students once a week during this time. The Government has decided to open 24 new Medical Colleges. Government has launched the Aayushman Bharat Program. Under the scheme, 1.5 Lakh centers would be set up to provide health services in the locality. Rs. 1200 Crore is allocated for the scheme. Under the National Health Protection Scheme, The Government would cover 10 crore poor and vulnerable families and must provide coverage up to Rs. 5 Lakh per year per family for secondary (Specialist Doctor Fees) and Tertiary care (Hospitalization).

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The Government has decided to expand PM Jan Dhan Yojona. Under this scheme, 16 Crore accounts would be included under the micro insurance and pension schemes. Under the Sukanya Samriddhi Yojona, 1.26 Crore accounts would be opened. The Pradhan Mantri Jivan Jyoti Bima Yojona would benefit approximately 5.22 Crore families with a life insurance cover of Rs. 2 Lakh on payment Rs. 330 per year. The Social Inclusion Schemes for Scheduled Castes and Scheduled Tribes would get Rs. 52,719 Crore and Rs. 39,139 Crore respectively. The Government has decided to contribute 12% of the wages of the new employees in the pension Scheme (EPF) in all sectors for coming three years while women contribution to EPF is reduced to 8% for the first 3 years. Government has decided to construct a new tunnel in Sela Pass to promote tourism. Under Smart City Mission 99 out of 100 cities are selected with an outlay of Rs. 2.04 Lakh. Under AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme, Government has approved the state plans of Rs. 77,640 Crore for supplying water to all households of 500 cities. The Government has also planned to convert 10 prominent tourist sites into iconic tourist destination with the scope of private funding, branding and marketing. Under Bharatmala Project, 35,000 Km would be developed under phase 1. The Government has allocated 5.35 Lakh Crore for the project. The Government has also introduced to “pay as you use” toll payment system. The Government has revised emoluments for the President at Rs. 5 Lakh, Rs. 4 Lakh for Vice President, Rs. 3.5 Lakh for Governors. The Government has brought a law for providing automatic revision of the emoluments of the MPs after every 5 years indexed to inflation. The Government has allocated Rs 150 Crore to commemorate 150 years of birth of the Mahatma Gandhi from 2nd October 2019 to 2nd October 2020. The Government has also allocated Rs. 7148 Crore for Textile sector. The Government has launched a scheme for named GOBARDHAN (Galvanizing Organic Bio-Agro Resources Dhan) for management and conservation of cattle dung for making fertilizers, Bio-gas, Bio CNG etc . The Government has decided to provide Rs. 2.09 Lakh Crore to the 99 cities selected for the smart city program. The Government has allocated Rs. 2.82 Lakh Crore for 2018-19 in Defense sector. The Government has taken initiatives to make India digital. For this purpose, Rs. 3073 Crore is allocated. 5 lakh WiFi HotSpots would be provided for the Broadband accessing to 5 Crore rural citizens. Rs 10,000 crore is allocated for it. Government has declared the cryptocurrency like Bitcoin an illegal tender. The Government would explore the usage of the Blockchain technology to boost the Digital Economy. The Government has allocated Rs. 1.48 Lakh Crore for Railway Capex which is higher than the previous allocation. The Government has decided to eliminate 4267 unmanned Railway Crossing in Broad Gauge within 2 years.

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An SMS based service "Clean My Coach" would be started. 'Coach Mitra‟ would be started to register all the problems related to coach. All the trains would have Bio-Toilet by 2019. Rs 11,000 Crore are allocated for Mumbai rail network and Rs 17,000 Crore for the Bengaluru metro. On the other hand, 150 km of additional suburban railway networks would be set up at the cost of Rs 17,000 Crore in Bengaluru. The task of connecting all eligible habitations with all weather roads would be done from March, 2019 to March 2022 under Pradhan Mantri Gram Sadak Yojona. The Food Processing sector of India has grown at an average rate of 8% per year. Under the Pradhan Mantri Krishi Sampada Yojona, the investment in food processing sector would be boosted. The Union Government has allocated Rs. 1400 Crore (double of the previous allotment) for Food Processing Industry in the Union Budget 2018. There would be “State of Art Testing” facilities in 42 Mega Food Park of India. The Government would connect 56 unserved Airports and 31 unserved helipads under UDAN (Ude Desh ki AAm Nagrik) scheme. Total 187 projects are sanctioned under Namami Ganga Program. The Government has mentioned Bamboo as “Green Gold” and launched National Bamboo Mission. The fund allocated for this mission is Rs. 1200 Crore. The Ground Water Irrigation scheme under Pradhan Mantru Krishi Sinchai Yojona – Har Khet Ko Pani would be taken up in 96 districts where less than 30% land holdings gets assured irrigation presently. Rs. 2600 Crore is allocated for this purpose. The Government has proposed to onboard the Public Sector Banks and Corporate on Trade Electronic Receivable Discounting System (TRDes) platform and links these with GSTN. According to the Government, 70 Lakh for jobs would be created in India in next financial year. A Railway Institute would be established in Vadodara to train the manpower required for high speed rail projects. SEBI has considered about mandating meeting about 25% of their financing needs from the Bond Market in case of the large Corporate. NITI Aayog would initiate a National Program to direct the efforts in the area of Artificial Intelligence including research and development of its application. The Disinvestment Target for FY 2018-19 is Rs. 80000 Crore. Under the Gold Monetization Scheme, people can be able to open a hassle free Gold Deposit Account. The revised Fiscal Deficit estimates for FY 2017-18 are 5.95 Lakh Crore at 3.5% of the GDP. The Fiscal Deficit estimates for FY 2018-19 are projected at 3.3% of the GDP. The Government has decided to build a 5G Test Bed supporting by Telecom Department of India for harnessing the emerging new technologies like 5G at - IIT Chennai. The Government has approved the listing of 14 CPSEs including 2 Insurance companies on the stock exchanges. The Government has approved the Disinvestment of 24 CPSEs.

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Oriental Insurance Co, National Insurance Co and United Assurance Co would be merged into one entity and listed subsequently. The Government has allocated Rs. 100 Crore for the Nirbhaya Fund to protect the women safely. There is a reduction in case of the Corporate Tax (25%) for the companies with annual turnover of Rs. 250 Crore in FY 2016-17. There would be a standard deduction of Rs. 40,000 for transport, medical reimbursement for the salaried tax-payers. It would result a loss of Rs. 8,000 Crore due to the standard deduction allowed to the salaried employees. This budget provides incentives for the Senior Citizens. There would be an exemption in income of Rs. 10000 from Fixed Deposits of Banks and Post offices for them. There would be no TDS. They would enjoy Rs. 50000 per anuum exemption for medical insurance. The amount of income interest exemption for the senior citizens is increased from Rs. 10000 to Rs. 50000 for all fixed and RD schemes including small savings. Under Sec 80 D there would be tax detection of Rs. 50000 for senior citizen. Pradhan Mantri Vaya Vandana Yojona is extended up to March 2020, under which an assured return of 8% is given by LIC, India. The Non-Corporate Taxpayers have to pay Alternate Minimum Tax (AMT) at an concessional rate of 9% at par with Minimum Alternate Tax (MAT) applicable for corporate. GST revenue for only 11 months, instead of the usual 12 months, would be 21.5 lakh crore. The Government has decided to tax the long term capital gains exceeding 1 Lakh at the rate of 10% without allowing any benefit of indexation. Education cess is increased from 3 pc to 4 pc as health and Education Cess to collect the additional revenue of Rs. 11,000 Crore. The Government has aimed to provide digital boards instead of black boards in schools by 2022. Custom Duties on Mobile phones are increased to 20% to enhance local production. The Government has decided to reduce custom duty on raw cashews to help Cashew Processing Industry from 5% to – 2.5%.

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Union Budget 2018-2019 MCQ Based Oneliner Match Points.pdf ...

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