Budget 2016: Allocation for education, agriculture, health and other sectors

* Allocation for rural sector - Rs 87,765 crore.

* Rs 2.87 lakh crore will be given as Grant in Aid to Gram Panchayats and Municipalities as per the recommendations of the 14th Finance Commission

* Every block under drought and rural distress will be taken up as an intensive Block under the Deen Dayal Antyodaya Mission

* A sum of ` 38,500 crore allocated for MGNREGS.

* 300 Rurban Clusters will be developed under the Shyama Prasad Mukherjee Rurban Mission

* 100% village electrification by 1st May, 2018.

* District Level Committees under Chairmanship of senior most Lok Sabha MP from the district for monitoring and implementation of designated Central Sector and Centrally Sponsored Schemes.

* Priority allocation from Centrally Sponsored Schemes to be made to reward villages that have become free from open defecation.

* A new Digital Literacy Mission Scheme for rural India to cover around 6 crore additional household within the next 3 years.

* National Land Record Modernisation Programme has been revamped.  New scheme Rashtriya Gram Swaraj Abhiyan proposed with allocation of Rs 655 crore.

* Allocation for Agriculture and Farmers’ welfare is ` 35,984 crore

* ‘Pradhan Mantri Krishi Sinchai Yojana’ to be implemented in mission mode. 28.5 lakh hectares will be brought under irrigation.

Implementation of 89 irrigation projects under AIBP, which are languishing for a long time, will be fast tracked

A dedicated Long Term Irrigation Fund will be created in NABARD with an initial corpus of about ` 20,000 crore

Programme for sustainable management of ground water resources with an estimated cost of ` 6,000 crore will be implemented through 3 multilateral funding

5 lakh farm ponds and dug wells in rain fed areas and 10 lakh compost pits for production of organic manure will be taken up under MGNREGA

Soil Health Card scheme will cover all 14 crore farm holdings by March 2017.

2,000 model retail outlets of Fertilizer companies will be provided with soil and seed testing facilities during the next three years

Promote organic farming through ‘Parmparagat Krishi Vikas Yojana’ and 'Organic Value Chain Development in North East Region'.

Unified Agricultural Marketing ePlatform to provide a common e- market platform for wholesale markets

Allocation under Pradhan Mantri Gram Sadak Yojana increased to Rs 19,000 crore. Will connect remaining 65,000 eligible habitations by 2019.

To reduce the burden of loan repayment on farmers, a provision of Rs 15,000 crore has been made in the BE 2016-17 towards interest subvention

Allocation under Prime Minister Fasal Bima Yojana Rs 5,500 crore.

Rs 850 crore for four dairying projects - ‘Pashudhan Sanjivani’, ‘Nakul Swasthya Patra’, ‘E-Pashudhan Haat’ and National Genomic Centre for indigenous breeds.

Withdrawal up to 40% of the corpus at the time of retirement to be tax exempt in the case of National Pension Scheme (NPS). Annuity fund which goes to legal heir will not be taxable.

In case of superannuation funds and recognized provident funds, including EPF, the same norm of 40% of corpus to be tax free will apply in respect of corpus created out of contributions made on or from 1.4.2016.

Limit for contribution of employer in recognized Provident and Superannuation Fund of ` 1.5 lakh per annum for taking tax benefit. Exemption from service tax for Annuity services provided by NPS and Services provided by EPFO to employees.

Reduce service tax on Single premium Annuity (Insurance) Policies from 3.5% to 1.4% of the premium paid in certain cases.

*Allocation for social sector including education and health care – Rs 1,51,581 crore.

* 2,000 crore allocated for initial cost of providing LPG connections to BPL families.

* New health protection scheme will provide health cover up to Rs One lakh per family. For senior citizens an additional top-up package up to Rs 30,000 will be provided.

* 3,000 Stores under Prime Minister’s Jan Aushadhi Yojana will be opened during 2016-17.

* ‘National Dialysis Services Programme’ to be started under National Health Mission through PPP mode “Stand Up India Scheme” to facilitate at least two projects per bank branch. This will benefit at least 2.5 lakh entrepreneurs.

* National Scheduled Caste and Scheduled Tribe Hub to be set up in partnership with industry associations.

* Allocation of Rs 100 crore each for celebrating the Birth Centenary of Pandit Deen Dayal Upadhyay and the 350th Birth Anniversary of Guru Gobind Singh.

Total investment in the road sector, including PMGSY allocation, would be ` 97,000 crore during 2016-17.

India’s highest ever kilometres of new highways were awarded in 2015.

To approve nearly 10,000 kms of National Highways in 2016-17.

Allocation of ` 55,000 crore in the Budget for Roads. Additional Rs 15,000 crore to be raised by NHAI through bonds.

Total outlay for infrastructure - ` 2,21,246 crore.

Amendments to be made in Motor Vehicles Act to open up the road transport sector in the passenger segment

Action plan for revival of unserved and underserved airports to be drawn up in partnership with State Governments.

'Transform India' to have a significant impact on economy and lives of people.

Government to focus on: ensuring macro-economic stability and prudent fiscal management; boosting on domestic demand; continuing with the pace of economic reforms and policy initiatives to change the lives of our people for the better.

Focus on enhancing expenditure in priority areas of - farm and rural sector, social sector, infrastructure sector employment generation and recapitalisation of the banks.

Focus on Vulnerable sections through: Pradhan Mantri Fasal Bima Yojana; New health insurance scheme to protect against hospitalisation expenditure; facility of cooking gas connection for BPL families

Continue with the ongoing reform programme and ensure passage of the Goods and Service Tax bill and Insolvency and Bankruptcy law

Undertake important reforms by: giving a statutory backing to AADHAR platform to ensure benefits reach the deserving; freeing the transport sector from constraints and restrictions; incentivising gas discovery and exploration by providing calibrated marketing freedom; enactment of a comprehensive law to deal with resolution of financial firms; provide legal framework for dispute resolution and re-negotiations in PPP projects and public utility contracts; undertake important banking sector reforms and public listing of general insurance companies undertake significant changes in FDI policy.

Expansion in the scope of e-assessments to all assessees in 7 mega cities in the coming years.

Interest at the rate of 9% p.a against normal rate of 6% p.a for delay in giving effect to Appellate order beyond ninety days.

‘e-Sahyog’ to be expanded to reduce compliance cost, especially for small taxpayers.

A comprehensive Code on Resolution of Financial Firms to be introduced.

Statutory basis for a Monetary Policy framework and a Monetary Policy Committee through the Finance Bill 2016.

A Financial Data Management Centre to be set up.

RBI to facilitate retail participation in Government securities.

New derivative products will be developed by SEBI in the Commodity Derivatives market.

Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100% stake in the ARC and permit non institutional investors to invest in Securitization Receipts.

Comprehensive Central Legislation to be bought to deal with the menace of illicit deposit taking schemes.

Increasing members and benches of the Securities Appellate Tribunal.

Allocation of ` 25,000 crore towards recapitalisation of Public Sector Banks.

Target of amount sanctioned under Pradhan Mantri Mudra Yojana increased to Rs 1,80,000 crore.

General Insurance Companies owned by the Government to be listed in the stock exchanges.

Raise the ceiling of tax rebate under section 87A from `2000 to `5000 to lessen tax burden on individuals with income upto `5 laks.

Increase the limit of deduction of rent paid under section 80GG from `24000 per annum to `60000, to provide relief to those who live in rented houses.

Changes in customs and excise duty rates on certain inputs to reduce costs and improve competitiveness of domestic industry in sectors like Information technology hardware, capital goods, defence production, textiles, mineral fuels & mineral oils, chemicals & petrochemicals, paper, paperboard & newsprint, Maintenance repair and overhauling [MRO] of aircrafts and ship repair.