Nirmala Sitharaman's 2019 Union Budget Highlights for UPSC IAS Exam
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on 05/07/2019

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Highlights of Union Budget for 2019-20


10 POINTS OF VISION

* Building social infrastructure among 10 points of vision
* Building pollution-free environment among 10 points of vision
* Digital India in every sector among 10 points of vision
* Make in India with stress on MSME in 10 points of vision
* Water management, clean rivers among 10 points of vision
* Export of food grain in 10 points of vision
* Ayushman Bharat, clean India among 10 points of vision
* Space programmes, safety of citizen in 10 points of vision.

GROWTH, INFLATION

* Well within capacity to reach $5-trln economy in few years
* India to become $3-trln economy in FY20
* India now 6th largest economy vs 11th five years ago.

REFORMS

* Need to continue undertaking structural reforms
* Need to continue structural reforms to reach $5-trln aim
* Need to invest in job creation in MSMEs
* Need to invest heavily in digital India, job creation
* $5-trln economy target is imminently achievable
* "Gone are the days of policy paralysis"
* Wish to propose many initiatives to kick-start growth
* Reforms needed in power tariffs
* To soon announce policy package for power tariffs
* Model tenancy law to soon be finalised
* Propose several reform measures for rental housing
* PPP to fast develop track, rolling stock, freight svcs
* To have blueprint for water grids, gas grids, airways
* Examining performance of UDAY scheme
* One nation, one grid to ensure power connectivity
* 2 more terminals at Sahibganj, Haldia to be functional soon
* Movement of cargo in river Ganga to rise 4 times in 4 yrs.

FINANCIAL SECTOR, MARKETS

* FDI inflows remain robust despite global headwinds
* Important to increase retail invest in T-bills
* Propose to create platform for listing social enterprises
* To work with regulators for AA bonds as collateral for repo
* Asked SEBI to mull hiking minimum public shareholding to 35%
* Propose to rationalise existing KYC norms for FPIs
* India needs 20-trln-rupee estimated investment every year
* To put in place action plan to deepen long-term bond mkt
* Action plan to deepen market for long-term bonds
* Invest driven growth requires access to low-cost capital
* To create payment platform for MSMEs
* Large infrastructure can be built on land owned by CPSEs
* To allow FPIs to subscribe to listed debt papers of REITs
* Propose to merge NRI, FPI investment scheme routes
* To mull hiking FDI limit in media, insurance, animation cos
* Contemplating an annual global investors meet in India
* Propose 100% FDI in insurance intermediaries
* To examine suggestions to further open up FDI in aviation
* FDI flows rose 6% to $64.37 bln in FY19
* Propose to make India a more attractive FDI destination
* To take steps for RBI, SEBI depositories' inter-operability
* To allow FPIs to subscribe to listed debt papers of REITs
* Propose to merge NRI, FPI investment scheme routes
* To mull hiking FDI limit in media, insurance, animation cos
* Contemplating an annual global investors meet in India
* Propose 100% FDI in insurance intermediaries
* To examine suggestions to further open up FDI in aviation
* FDI flows rose 6% to $64.37 bln in FY19
* Propose to make India a more attractive FDI destination
* To take steps for RBI, SEBI depositories' inter-operability
* To allow FPI invest in listed debt securities of InvITs.

INFRASTRUCTURE, INDUSTRY

* Need to invest heavily in infrastructure
* Rail infra may need investment of 50 trln rupees 2018-2030
* 2nd stage of Bharatmala to help develop state roads
* To incentivise advanced vehicle battery manufacturing
* Need to develop inland waterways for cargo movement
* To comprehensively restructure national highway programme
* To comprehensively restructure national highway programme
* 210 km of new metro lines operationalised in 2019
* Launching national common mobility card
* To leverage engineering skill for project maintenance work
* Public infra, affordable housing to be taken up in FY20
* To aid cluster-based development of traditional industries
* To use more PPP mode for metro rail network
* Railways to be encouraged to use.

FARM SECTOR

* Every rural family to have gas, power connectivity by 2022
* All rural families to have electricity connection by 2022
* Govt keeps Antyodaya at core of all its policies
* Villages, poor, farmers at centre of every govt plan
* Gaon, garib, kisan at centre of every govt plan
* To invest widely in agriculture infrastructure
* Bamboo, khadi, honey to be focus for cluster development
* To invest 802.5 bln rupees to upgrade rural roads in 5 years
* To upgrade 125,000 km of rural roads in 5 years
* 30,000 km roads under PM Sadak Yojana built with green technology
* All-weather roads provided to 97% of habitation
* To have robust framework for fisheries mgmt network
* 19.5 mln homes to be given till 2022 in PM rural house plan
* 15 mln homes completed under PM rural house plan
* APMCs shouldn't hamper farmers from getting fair price
* Zero-budget farming to be promoted
* Hope to form 10,000 farmer producer organisations
* Aiming oilseed self sufficiency, to help cut import bill
* Ease of doing business, living should apply to farmers too
* To create infrastructure for cattle feed manufacturing
* Will support private companies to add value for farm producers
* Zero-budget farming can help double farmers' income.
 

SOCIAL SECTOR, EDUCATION

* See rapid urbanisation as an opportunity, not challenge
* Constructed 96 mln toilets since Oct 2, 2014
* To expand Swachh Bharat plan to undertake solid waste mgmt
* India to be open-defecation-free by Oct 2
* Over 95% cities have become open-defecation free
 Identified 1,592 blocks for Jal Shakti Abhiyan
* To use CAMPA funds for Jal Shakti plan
* Aim water connection to every household by 2024
* To set up national research foundation to assimilate all grants
* To bring new national education policy
* Will bring in new national educational policy
* To focus on artificial intelligence, 3D printing
* Propose to streamline multiple labour laws into 4 codes
* To improve skills needed abroad like foreign languages
* To present draft legislation for higher education
* Propose 'Study in India' plan to bring in foreign students
* Aim to start programme to bring foreign students to India
* Regulations on higher education to be reformed
* Allocated 4 bln rupees for world class institutions.

 MISCELLANEOUS

* Election 2019 mandate was full of hope for new India
* Voters stamped their approval on a performing government
* People of India voted for national security, economic growth
* Have set the ball rolling for new India
* Govt provided fiscal discipline during 2014-2019
* Average food security amount almost doubled during 2014-19
* Our last-mile delivery stood out, reached everywhere
* Will further simplify procedure, reduce red tape
* Mega programmes initiated in 1st term will continue
* We don't look down upon legitimate profit-earning
* To take step for virtuous cycle of domestic, foreign investment
* Time right for India to enter aircraft financing, leasing
* Launched co to tap ISRO's capabilities commercially.

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