Thursday, 2 February 2017

Budget 2017, Fiscal situation

Following are the highlights of Union Finance Minister Arun Jaitley's 2017 Budget
speech.
The Union Budget 2017 was broadly focused on 10 broad themes — farmers, rural
population, youth, poor and health care for the underprivileged; infrastructure; financial
sector for stronger institutions; speedy accountability; public services; prudent fiscal
management; tax administration for the honest.

Fiscal situation
1. Total expenditure - Rs. 21, 47,000 crore
2. Abolition on plan, non-plan expenditure, focus on capital expenditure ( Capital
expenditure will be 25.4 per cent)
3. Rs. 3,000 crore under Dept of Economic Affairs for implementing Budget
announcements.
4. Defence expenditure, excluding pension, at Rs 2,74,114 crore
5. Expenditure in science and technology — Rs. 37,435 crore
6. Total resources transferred to States and UTs is Rs 4.11 lakh crore
7. Recommended 3% fiscal deficit for three years with deviation of 0.5% of GDP.
8. Revenue deficit - 1.9 %
9. Pegged fiscal deficit of 2017-18 at 3.2% of GDP and remain committed to
achieving 3% in the next year.

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