Booster for primary sector
Budget 2018, first of all, focuses on Agriculture and rural sector. Budget 2018 probably to be the NDA last budget. This budget has emphasized upon agriculture sector more compared to other sectors of the economy. It has made additions to the previous schemes and also introduced new schemes. Extra-budgetary and non-budgetary resources to meet the fundings for 2018-19.
Aache Din For Agricultural & Rural Sector
- World’s largest government-funded health protection scheme to cover 10 crores, poor families.
- Amrut program to focus on the water supply to all households in 500 cities. Rs 19,428 core for 494 projects.
- NITI Aayog will establish a national programme to direct our efforts in the area of Artificial Intelligence towards national development.
- The government will fix the MSP of agricultural products at 1.5 times the market rate.
- A provision of Rs500 crore for “Operation Green” to promote agriculture logistics.
- PMGSY to link villages and rural roads to agricultural market.
- SHS’s to receive Rs 75000 crore from Rs 42000 crore.
World largest Government Funded Health Scheme.
Keeping view to take health level to an aspirational level, the government introduced various health scheme. 10 crore poor families covered under this scheme. World largest government-funded health scheme. Approximately 1.5 lakh Centre’s will bring healthcare closer to people. It will include comprehensive health care comprising for non-communicable diseases and maternal and child health services. Centres will provide free essential drugs and diagnostic services.
As NHPS is expected to be the mother of all insurance schemes in the country, it estimated the assured sum to touch Rs 50 lakh crore which is almost one-third of India’s stock market value. Comparing between trust model and trending process probability of Trust model seems more likely to be appropriate.
AMRUT to emphasize at Modernization and transformation of urban areas. The project focuses on improvement of Udayesh Shahero. Plant and project improvement are looked upon more than compared to the shortage of water supply.Greenery will be promoted in open spaces and garden gardens and this scheme seeks to increase the value of SHAHARO facilities.Facility for public transport and motorized vehicles and transport facilities will be provided which can reduce the pollution caused by transport.
89 cities included in the first phase of the scheme. An annual plan of action will be made by the APEX Committee for all those who have been selected in the first phase. A city commission for every city will be implemented and staff, technology, and some operations will help the local body.
Niti Aayog To Direct Artificial Intelligence Towards National Development.
Agriculture remains the center of the budget. 8% expected GDP rate while the probability of Rural infrastructure and rural employment to trigger up the growth.
Aache Din On MSP
Farmers can expect a big rise in support prices for the crops. The government has adopted the principle of buying their produce at 1.5 times the input cost in this year’s budget proposals. Farmers cultivating ragi to benefit the support prices for the crop from Rs 1900 to Rs 2,791 per quintal (100 kg). MSP to squeeze middleman chain. As per statistics, Ragi has grown from 1900 to 2791 with 46.89% increase in rate. Moong has grown from 5275 to 6425 with 21.80% rise in rate.
PMGSY to allocate Rs 19000 crore for rural road development.
Allocation amount increased from Rs 16900 crore to Rs 19000 crore. As a result, PMGSY to connect rural and agricultural market during the third phase. Average construction of rural roads grew from 100km per day to 130 km.
The amount allocated for roads constructed in Left-Wing Extremist areas was Rs. 2881.80 crore, up from Rs 1571.20 crore during 2017-18.
With an objective of “all-weather” road connectivity to “unconnected villages” having the total of 17800 habitations yet 47000 habitations remained to say “unconnected”. Centre plans to construct roads in these habitations by March 2019.
SHGs loan amount to be raised to Rs 75000 crore.
SHG budget raised from Rs 42000 crore to Rs 75000 crore with 37 % while National Livelihood mission to receive Rs 5750 crores by 2018-19.
Budget 2018 REVIEW
Budget 2018 remained more focused on the primary sector with a view in increasing GDP compared to previous years budget. The base of income for economy must get stronger than a tertiary sector. Basically 2018 budget purpose is to improve the poor society by implementing various schemes and addition to the schemes.
During 2017 budget only increase by 24% i.e Rs 1.87 trillion amount was allocated to agriculture and rural sector whereas compared to 2018 budget an amount of 14.34 lakh crores is to by and non-budgetary resources.
Budget 2018 mainly focused on improvement of rural infrastructure compared to previous year budget.Therefore to create connectivity between urban areas. Furthermore, increase in MSP’s has brought relief among farmers which have reduced the probability of losses. PMGSY, as a result, will make efforts to link villages and rural roads to agriculture markets, secondary schools, and hospitals.
Most noteworthy AMRUT program to focus household water supply in 500 cities as a result allocation of Rs 19428 crores.As a result 2018 budget has become world largest government-funded budget for health protection scheme. In conclusion, this budget has benefited agriculture and rural compared to salaried employees.