Union budget 2018 and Economics Survey 2017-18 is one of the most important things to cover for aspirants sitting for competitive exams like UPSC Civil Services, RBI Grade B, Nabard, IBPS/SBI (PO, Clerk, SO) and SSC-CGL. You can easily get 5-6 direct questions from Union budget 2018 speech in any exam.
Most important questions from Union Budget 2018
Important schemes in Union Budget 2018
Agriculture and Rural Sector schemes
1.Gobar-Dhan Yojna (Galvanizing Organic Bio-Agro Resource Fund Scheme)
A new scheme to improve the lives of the villagers under bame of Gobar-Dhan Yojna has been launched. This scheme aims to provide additional income to farmer, as well as move country towards clean fuel. Under this scheme, solid waste of dung and fields will be changed into compost, biogas and bio-CNG. It will be launched initially in 115 districts, and thereafter in all country.
2.Kisan Credit Card:
Govt will be extending its Kishan Credit Card schemes from farmers to farmers, fisheries and Animal husbandry. This will make enable them to avail the easier loans. This schemes will help people associated in dairy production and fisheries in rural area.
3.National Bamboo Mission
A new scheme for encouraging bamboo production in rural and tribal area has been launched. An amount of Rs. 1,290 crore will be allocated under this scheme.
A new scheme “Operation Green” has been launched and allocated Rs 500 crore, which will help Onion, Tomatoes and Potatoes farmers from price volatility.
The government has targeted to increase the number of power connections in rural areas to 40 million households.
6. Kifayati Aawas yojna
To provide housing for all, the government will create a dedicated affordable housing fund(funded by priority sector lending) in National Housing Bank. Government will construct more than 1 crore households in the rural area in current and next financial year under Pradhanmantri Aawas Yojana.
7. Expansion of Ujjwala Scheme
Modi Government has set a target to provide the number of free LPG connections to the poor families under the Ujjwala scheme to reach 8 crores.
Ayushman Bharat Scheme (National Health Protection Scheme)
National Health Protection Scheme will be launched to cover 10 crore poor and vulnerable families. Under this, up to Rs 5 lakh will be provided to each family per year in secondary and tertiary care institutions. This scheme will have 50 crore beneficiaries. So far under the National Health Insurance Scheme, insurance cover of Rs 30,000 was available only.
1. Eklavya School
Just like Navodya schools, new lines of schools for scheduled tribe students will be established by 2022. Eklavya model residential schools will be set up in each Block having more than 50 percent tribal areas and 20,000 tribal people. These schools will be part of Navodaya Vidyalayas and besides training in sports and skill development, there will also be special facilities for preserving local art and culture.
2.Revitalising Infrastructure and Systems in Education (RISE)
RISE scheme will be financed via a restructured higher education financing agency (HEFA), a non-banking financial company. It aims to lend low-cost funds to government higher educational institutions. Presently, HEFA is looking to raise Rs20,000 crore and Budget announcement hiked this number to Rs1 trillion.While HEFA was granted a budgetary allocation of Rs250 crore in the fiscal year 2018, in FY19, the lending body will be provided a budget of Rs2,750 crore.
3. Prime Minister Fellowship Scheme
Under this scheme, 1000 B.Tech students will be given the opportunity to do Ph.D. in IIT and IISc.
Infrastructure development schemes
Expansion of UDAN Yojna
56 airports and 31 helipads being used less than the capacity will be added in the initiative to connect common man with the ‘UDAN Yojna. 10 major prestigious destinations will be constructed for the promotion of tourism.
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Expansion of PM Vaya Vandana Yojana
This scheme was launched on 4th May 2017. The scheme provides regular pension income to senior citizens (60 years or more). The budget 2018-19 proposed to open this scheme for investment till March 2020. Apart from extending the scheme’s investment duration, the investment limit is also increased to Rs15 lakh from 7.5 Lakh per person.
Union Budget 2018 – Earning vs Expenditure
Finance minister Arun Jaitley has set the fiscal deficit target in union budget 2018 for 2018-19 at 3.3% of the gross domestic product (GDP) to accommodate higher demand for expenditure against the earlier target of 3%.
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