HIGHLIGHTS OF BUDGET 2018-19 PART-VI

Digital Economy

1 . NITI Aayog will initiate a national program to direct efforts in artificial intelligence.

2 .  Department of Science & Technology will launch a Mission on Cyber Physical Systems to support establishment of centres of excellence for research, training and skilling in robotics, artificial intelligence, digital manufacturing, big data analysis, quantum communication and internet of things.

3 . The Budget doubled the allocation on Digital India programme to Rs 3073 crore in 2018-19.

4 . To further Broadband access in villages, the Government proposes to set up five lakh wi-fi hotspots to provide net connectivity to five crore rural citizens.

5 . The Finance Minister allocated Rs. 10000 crore in 2018-19 for creation and augmentation of Telecom infrastructure.

Disinvestment

1 . 2017-18 disinvestment target of Rs.72,500 crore has been exceeded and expected receipts of Rs.1,00,000 crore.

2 . Disinvestment target of Rs.80,000 crore for 2018-19.

3 . Three Public Sector Insurance companies- National Insurance Co. Ltd., United India Assurance Co. Ltd., and Oriental India insurance Co. Ltd., will be merged into a single insurance entity.

4 . A comprehensive Gold Policy will be formulated to develop gold as an asset class.

5 . The Government will also establish a system of consumer friendly and trade efficient system of regulated gold exchanges in the country.

6 . Gold Monetization Scheme will be revamped to enable people to open a hassle-free Gold Deposit Account.

7 . The Budget proposes to revise emoluments to Rs.5 lakh for the President, Rs 4 lakhs for the Vice President and Rs.3.5 lakh per month to Governor. These emoluments were last revised in 2006.

8 . To celebrate the 150 Birth Anniversary of Mahatma Gandhi, Father of the Nation from 2nd October 2019, the Budget set aside Rs.150 crore for the activities leading to the commemoration programme.