The Modi government has introduced many schemes after coming to power. It is important is to have a clear understanding of all such schemes, which are beneficial for different sectors, industries, and individuals as well.
After demonetisation, the economy has seen a downward trend and to boost its growth in the coming years, Budget 2017 should majorly focus on certain schemes which can help in developing the country in different ways.
Right from maintaining a clean society to creating skilled labour, there is a need of supervision and improvement in the various scheme which have already been launched or are yet to be launched.
Swachh Bharat Abhiyan: The campaign was launched by the prime minister on 2nd October 2014 in order to have a neatness and cleanliness drive in India. The Swachh Bharat Abhiyan was accepted by all the states, cities and even corporates took initiatives to make the drive successful. Still, Swachh Bharat Abhiyan has not penetrated in rural areas which the government should focus on in budget 2017. The government should come up with some stringent policies mentioning it to be compulsory for everyone that cleanness must be taken into consideration, and not following the same will result into a certain amount of fine.
Skill India: The missions started by the government of India – “National Skill Development Mission”, “National Policy for Skill Development and Entrepreneurship’ have created lots of expectation from the current budget. To train 40 million people by 2020 in different sectors will not only generate employment but also develop the economy as a whole. Every city should have at least 2 to 3 training centres. Proper skill index should be prepared by the government, so that people may choose training centres as of their desire. Various skill-based factories should take an initiative to launch learning programs for poor people who do not have money but have the ability to work with desired skills.
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Digital India: This scheme can totally transform India. Digital India is a project which can unite the nation. The government should reduce taxes on digital payments. High-speed internet facility should reach rural areas too, sustaining the facility with low-cost data packs so that everyone can afford it very easily.
The project was launched in July 2015 in order to provide good connectivity, literacy in rural areas, providing high-speed internet facility. The campaign requires lots of amendment during this budget to increase the usage of the electronically by improved online infrastructure.
Make in India: To promote indigenous goods where production and manufacturing to be done in India. It is a strong initiative taken by the government to increase foreign direct investment in the country which will improve the economic conditions of the country as well. All the multinational companies and national companies need to focus on manufacturing their products in India. This will also reduce the cost of products. This scheme will help in skill development and serve as an initiative for job creation. The government should focus on the scheme during the budget because it will help in the technological development as well as increase revenue in the system.
Accessible India Campaign: This program was launched on the International Day of Persons with Disabilities. To serve the disability community of the nation and to measure disabled-friendly building by making a proper index. According to the 2011 Census of India, 2.21 % of Indians are suffering from a disability. The government has targeted that at least 50% of the government building should be disabled friendly and at least 25% of the transportation facility should be covered under the scheme. The budget should focus on the increasing the percentage as per the current requirement and moreover, it should also work on the sustainability of buildings which are already made by properly supervising them and having proper maintenance.
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Start up India: The action plan launched on 15th August 2015 was made to ease out financing facility for start-up ventures and to create jobs for people. But still, there is a question of sustainability and reliability of the firm which needs to be focused on the current budget.
Certain tax amendments are required for young entrepreneurs which can boost up their moral and they can easily set up a firm and sustain it for a longer time. Proper definition with guidelines should be made that when a firm is launched by entrepreneurs, then till how many years that firm be considered as a start up. This will help them to avail tax benefits for particular years. The government should focus on this fact to in the budget.
Unnat Bharat Abhiyan: It is one of the very important programs launched by the Indian government in order to promote education in rural areas. IIT and NIT’s together in collaboration will uplift the program. According to census 2011, Bihar is having the lowest literacy rate of 61.8%. The program is still not launched. Most probably in the current budget session, the government can announce the date of launching the program. The program involves the upliftment of technology usage.
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Beti Bachao, Beti padhao yojna: In our country, there is a need for the upliftment of women. The scheme was launched to create social awareness and improve welfare services related to girl child. Giving a strong message to empower the woman of the society, the government took the initiative to against those who were discriminating girl infants for several reasons. Already the government has taken many strong steps to promote girls education, but still, there is a lot of scope and awareness required in rural areas.
According to census 2011, the sex ratio is 940 females per 1000 of males which have slightly increased over the two decades. Keeping the figures in mind, GOI has to take this initiative to increase the awareness of literacy amongst the family to make their girl child educated.
Pradhan Mantri Jeevan Jyoti Bima Yojana: Life insurance is must for every citizen of India who has dependents on them. This scheme is available for citizens who are between the age of 18 and 50. The premium amount of the scheme is just Rs.330 per annum (excluding taxes). The sum assured is Rs.2lakhs. The government should focus on increasing the sum insured during the budget session so to increase the demand for this life insurance. Although the premium is very low but the sum assured is also quite low, which is currently not attracting the customers.
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Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY): It is the most recent scheme launched by the government in December 2016 during the demonatisation phase. The scheme is made for the welfare of poor people. People who are having unaccounted wealth and black money can disclose their income in a confidential manner by paying a fine of 50% on the unaccounted income. Additional 25% will be invested in certain schemes and re-payed to the customer after 4 years. Anyone having such kind of income can declare it within the current financial year only.