Many of these schemes are to be financed as per the restructured formula of the Centrally Sponsored Schemes where the States would be contributing more towards implementation. Amidst the competing priorities of States, the sector may not receive adequate attention in their budgets.
The allocation for MNREGA was the "highest ever" according to the FM at Rs 38,500 crore for 2016-17. This year the amount stood at Rs 36,967 crore.
Government on Monday proposed Krishi Kalyan Cess and Infrastructure Cess, raised incidence of Environment levy, while deciding to do away with as many as 13 cesses which do not yield more than Rs 50 crore in a year.
Budget 2016 is a make budget not a break budget and it has come as a pleasant surprise.
Finance Minister Arun Jaitley made the announcement in his Budget 2016 speech, lowering the susidies by over four percent to nearly Rs 2.31 lakh crore.
What is making his task particularly difficult is the fact the Narendra Modi government is going through a rough patch due to the heightening criticism over the rising intolerance. The JNU imbroglio and the Rohith Vemula suicide only aggravated the problem.
The country's annual subsidy is about Rs 73,000 crore, a majority of which is paid to the manufacturers of controlled fertiliser urea.
Aiming to double farmers income by 2022, Finance Minister Arun Jaitley on Monday announced an allocation of nearly Rs 36,000 crore for the farm sector while raising the agri-credit target to Rs 9 lakh crore for the next fiscal.
With agriculture reeling from drought and lower crop prices, the government is likely to retain spending on the rural employment guarantee programme, expand crop insurance and boost irrigation outlays.
The newly launched Start-Up India, Stand-Up India initiative is a step in the right direction to nurture entrepreneurship development in the country.
Budget 2016: Govt should deviate from RBI’s stance and spend liberally for agriculture and infra sectors
Rising deflationary pressures have taken a toll on the global equities – about 40 stocks markets in the world have fallen 20% from their respective peaks.
Indian Markets had been upbeat on the Narendra Modi Government since the last 18 months but lately their hopes increasingly have given way to dispair.
A more focused approach to tackle farm distress could work around improved irrigation, a more workable system to assess crop damages and a linked crop insurance scheme
The Department of Agriculture and Cooperation (DAC) is expected to get about 30 per cent higher budgetary allocation at over Rs 20,000 crore for the next fiscal for implementation of key schemes including newly launched crop insurance programme.
Jaitley has already held extensive pre-budget consultations with various stakeholders, including economists, industry chambers, trade unions, social sector as well as banks and financial institutions.
Agriculture Ministry has sought measures like a new scheme on animal health card, e-market platform for bovine germplasm and increase in allocation for Rashtriya Gokul Mission in Budget 2016.
Delhi government today demanded a special package of Rs 4,000 crore from the Centre to augment public transport in the national capital and pitched for a rise in its share of central taxes, which was last revised "15 years" ago, to at least Rs 5,000 crore.
Ahead of the Union budget, Gujarat has demanded establishment of a Special Notified Zone for diamond industry in Surat while Maharashtra has asked Rs 4,000 crore for various projects.