Vision, Strategy and Three Year Action Agenda of NITI Aayog

The 12th and last five year plan of India was completed on March 31, 2017. With this, the five year plans have become a thing of past. It was already announced that there will be no more five year plans. ..

Other Sectors in Budget

Defence & Aerospace in Budget, 2017-18 The outlay for Defence in the Budget 2017-18 stands at Rs. 274113 Crore with a modest hike of 6% in allocation from the previous year. With this, currently, the defence budget stands at 1.62% ..

Railways & Transport Sector in Budget 2017-18

The Budget 2017-18 was independent India’s first budget in which Railway Budget was presented as part of the Union Budget itself. The entire transport sector was given Rs. 2.41 Lakh Crore. The Key announcements for Railways and other transport sector ..

Education in Union Budget 2017-18

The outlay on education sector this year has seen a rise of 9.9% from Rs.72,394 crore to Rs. 79,685.95 crore. Of the total outlay, Rs. 46,356.25 is for the school sector and the rest for higher education. The outlay is ..

Healthcare in Union Budget 2017-18

The major issues in the healthcare sector in India are low government spending and high out of pocket expenditure on health. There was an expectation of increased budget share of healthcare sector to meet these challenges and the dual challenges ..

Banking Sector in Union Budget 2017-18

The budget 2017-18 has come with a big boost for the agriculture market due to increased push on infra, boost to affordable housing, fiscal deficit target of 3.2% etc. They key provisions for the banking sector are as follows: New ..

Agriculture in Union Budget 2017-18

The budget announcements for farmers / agriculture were focussed on the objective of doubling the farmers’ income in five years. Towards this, the key announcements made are as follows: Record Credit Target The agricultural credit target was fixed Rs. 10 ..

Functions & Principles of Budgeting

The key functions of a government budget are discussed below: Public Policy Document The budget serves as a public policy document expressed in money and is an embodiment of implied policy objective in monetary terms. Redistribution of Wealth The most ..