Union budget 2019-20

Rural

* By 2022, every single rural family except those who are unwilling to take the connection, will have an electricity and a clean cooking facility.

*Over 2 crore rural Indians have been made digitally literate.

* To strengthen Gramin Bharat – Rural India – This year India mark the 150-birth anniversary of Mahatma Gandhi. Gaav, Garib aur Kisan will remain at the centre of all our initiatives.

* SFURTI envisions 100 new clusters in 2019-20 to help 50,000 artisans economically.

Women empowerment

Nari tu Narayani: Women SHG Interest Subvention Programme to be expanded to all districts in India.

* Rs 1 lakh loan to be provided for SHG women members.

*Every verified woman SHG member having a Jan Dhan account can avail Rs 5,000 rupees overdraft facility.

Defence

*Defence sector needs modernization. Import of defence equipment is being exempted from basic customs duty.

* New Space India Limited – The Indian Space Research Organisation’s (ISRO) new commercial arm called NewSpace India Limited (NSIL) was officially inaugurated in Bengaluru.

• The Department of Space (DoS) registered its second commercial entity called NSIL in ISRO.

• The NSIL was incorporated for commercially utilising research and development (R&D) activities carried out by ISRO in area of space. • NSIL is provided an authorised share capital worth Rs.100 crore and initial paid up capital of Rs.10 crore.

• NSIL’s main objective is to scale up industry participation in Indian space programmes.

Note: • In September 1992, the first commercial venture of DoS was Antrix Corporation Limited, which was set up in September 1992 to market products and services of ISRO.

Education

* National Research foundation (NRF) –National Research Foundation has been proposed to established to fund and coordinate research in India. This will help fund research ecosystem among universities across the country, without any external funding.

‘Study in India’ initiative – India will be soon a hub of higher education. ‘Study in India’ initiative will be started for the exchange of foreign student. • The government proposes allocation of Rs 400 crore for world-class higher education institutions in the country.

*None of our technological institutions were in top 200 in 2014. But now, there are five in the list

* Gian initiative – To upgrade level of teaching, Gian initiative was started. It was a roadmap to counter challenges.

Railways

*Railways infrastructure needs ₹50 trillion (50 lakh crore) between 2018 and 2030.

*A new PPP model will usher the new dawn of Indian railway.

* Railways to be encouraged to invest more in suburban rail network via SPVs

MSME

CBDT will set up mechanism to alleviate issues with pending cases regarding angel tax.

*To resolve the angel tax issue, startups will not be subject to any scrutiny in respect to valuation. Funds raised by startups will not require any scrutiny by the I-T department.

* 350 crore rupees allocated for 2% interest subvention for all GST-registered MSMEs on fresh or incremental loans.

*Propose to commence television channel for start-ups 84. Stand Up India’ Scheme to continue till 2025.

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