HIGHLIGHTS OF BUDGET 2018-19 PART-III

Medium , Small  and  Micro  Enterprises  (MSMEs)  and  Employment

1 .  A sum of Rs. 3794 crore has been provided for giving credit support, capital and interest subsidy and for innovations.

2 .  It is proposed to set a target of Rs.3 lakh crore for lending under MUDRA for 2018-19 after having successfully exceeded the targets in all previous years.

3 . To carry forward the momentum created by the measures taken during the last 3 years to boost employment generation, it is announced that the Government will contribute 12% of the wages of the new employees in the EPF for all the sectors for next three years.

4 . The Budget proposed an outlay of Rs.7148 crore for the textile sector in 2018-19 as against Rs.6,000 Crore in 2016.

Infrastructure  and  Financial  Sector  Development

5 . Emphasising that infrastructure is the growth driver of economy, the Government has estimated that investment in excess of Rs.50 lakh crore is needed to increase growth of GDP and connect the nation with a network of roads, airports, railways, ports and inland waterways.

6 . It has been announced increase of budgetary allocation on infrastructure for 2018-19 to Rs.5.97 lakh crore against estimated expenditure of Rs.4.94 lakh crore in 2017-18.

7 . The Government has made an all-time high allocation to rail and road sectors and is committed to further enhance public investment. Using online monitoring system of PRAGATI alone, projects worth 9.46 lakh crore have been facilitated and fast tracked.

8 . To further boost tourism, the Budget proposes to develop ten prominent tourist sites into Iconic Tourism destinations by following a holistic approach involving infrastructure and skill development, development of technology, attracting private investment, branding and marketing.

9 . Under the Bharatmala Pariyojana, about 35000 kms road construction in Phase-I at an estimated cost of Rs.5,35,000 crore has been approved.