Budget 2017: Jaitley speaks on Banking & Infrastructure sector

Highlights:

* Total expenditure of Budget 2017-18 has been placed at Rs 21.47 lakh crore

* Allocation for infrastructure stands at a record Rs 3,96,135 crore.

* Govt to set up strategic crude reserves.

* Coverage of eNAM to be expanded from 250 to 585 Agricultural produce market committee (APMC).

* Rs 10,000 for re-caliberation of banks, more funds to be allocated if required.

* New rules regarding medical devices will be devised to reduce their cost.

* 1.5 lakh health sub centres to be converted to Health Wellness Centres.

* National Housing Bank will refinance individual loans worth Rs 20,000 crore in 2017-18.

* Infrastructure funds for dairy will generate extra rural income of Rs 50,000 crore/annum.

* Expert committee to be set up for commodity and derivatives market operations SAS.

* Govt doubles lending target to Rs 2.44 lakh crore.

* Govt will launch two new schemes to promote the use of Bhim. BHIM app will unleash the power of financial inclusion.

* Two new referral schemes to promote digital schemes.

* Banks to introduce additional 10 lakh PoS by March 2017.

* Propose to double the lending target of Pradhan Matri Mudra Yojana and set it up at Rs 2.44 lakh crore for 2017-18.

* Govt proposes to create integrated PSU oil major.

* Plan to keep fiscal deficit for 2017/18 at 3.2%; Fiscal Responsibility and Budget Management (FRBM) roadmap to be followed.

* Revenue deficit reduced 2.1% in current fiscal.

* Railway tariffs to be fixed on the basis of cost, social obligation and competition.

* Capital and development expenditure pegged at Rs 1.31 lakh crore for railways in 2017-18 from Budget.

* For senior citizens, Aadhaar based health cards will be issued.

* Model Shops and Establishment Bill to open up additional opportunities for employment of women.

* Centralised defence travel system, where travel ticket can be booked by soldiers.

* Will continue use of ETFs for divestment.

* Unmanned railway level crossings to be eliminated by 2020.

* Economic offenders fleeing country: Govt considering new law to confiscate assets of escaped person located in the country.

* Government proposes Coach Mitra facility to redress grievances related to rail coaches.

* Delhi and Jaipur to have solid waste management plants and five more to be set up later.

* Market turns flat as Jaitley's Budget signals focus on social, farm sectors.

* Finance Minister pushes for setting up of separate Response Team for Cyber attacks on the financial sector.

* Have increased allocation for scientific ministry to Rs 37,435 cr in 2017-18.

Stay tuned for more such updates.