Union Budget And Other Economic Policies

Union Budget And Other Economic Policies

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KEY TRENDS

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Please click here to know the details of Garib Kalyan Rojgar Abhiyaan (launched on 20th June, 2020), which will be implemented in a mission mode campaign in 125 days in 116 districts of six states with the support of Rs. 50,000 crore. The Abhiyaan will be a convergent effort between 12 different Ministries/ Departments to implement 25 categories of works/ activities.
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Please click here to access the Details of Fifth Tranche announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman (dated 17th May, 2020) under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19, Ministry of Finance, Press Information Bureau.
 
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Please click here to access the Details of Fourth Tranche announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman (dated 16th May, 2020) under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19, Ministry of Finance, Press Information Bureau.
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Please click here to access the Details of Third Tranche announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman (dated 15th May, 2020) under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19, Ministry of Finance, Press Information Bureau.
 
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Please click here to access the Details of Second Tranche announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman (dated 14th May, 2020) under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19, Ministry of Finance, Press Information Bureau.
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Please click here to access the Presentation made by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman (dated 13th May, 2020) under Aatmanirbhar Bharat Abhiyaan to support Indian economy in fight against COVID-19, Ministry of Finance, Press Information Bureau.
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Please click here to access the Details of the Relief Package of Rs 1.70 Lakh Crore under Pradhan Mantri Garib Kalyan Yojana (dated 26th March, 2020) for the poor to help them fight the battle against Coronavirus, Ministry of Finance, Press Information Bureau Delhi.
 
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If one goes by the expenditure of major items, then according to the Union Budget 2020-21 (please click here to access):

• Expenditure on Pension was increased from Rs. 1,84,147 crore in 2019-20 (R.E.) to Rs. 2,10,682 crore in 2020-21 (B.E.). Budgetary allocation on Pension was Rs. 1,74,300 crore in 2019-20 (B.E.)

• Budgetary allocation on Pension as a proportion of total budgetary expenditure was 6.3 percent in 2019-20 (B.E.), which increased to 6.9 percent in 2020-21 (B.E.)

• Expenditure on Fertilizer Subsidy was cut down from Rs. 79,998 crore in 2019-20 (R.E.) to Rs. 71,309 crore in 2020-21 (B.E.). Budgetary allocation on Fertilizer Subsidy was Rs. 79,996 crore in 2019-20 (B.E.)

• Expenditure on Food Subsidy was raised from Rs. 1,08,688 crore in 2019-20 (R.E.) to Rs. 1,15,570 crore in 2020-21 (B.E.). Budgetary allocation on Food Subsidy was Rs. 1,84,220 crore in 2019-20 (B.E.)

• Budgetary allocation on Food Subsidy as a proportion of total budgetary expenditure was 6.6 percent in 2019-20 (B.E.), which reduced to 3.8 percent in 2020-21 (B.E.)

• Expenditure on Agriculture and Allied Activities was increased from Rs. 1,20,835 crore in 2019-20 (R.E.) to Rs. 1,54,775 crore in 2020-21 (B.E.). Budgetary allocation on Agriculture and Allied Activities was Rs. 1,51,518 crore in 2019-20 (B.E.)

• Budgetary allocation on Agriculture and Allied Activities as a proportion of total budgetary expenditure was 5.4 percent in 2019-20 (B.E.), which reduced to 5.1 percent in 2020-21 (B.E.)

• Expenditure on Rural Development was increased from Rs. 1,43,409 crore in 2019-20 (R.E.) to Rs. 1,44,817 crore in 2020-21 (B.E.). Budgetary allocation on Rural Development was Rs. 1,40,762 crore in 2019-20 (B.E.)

• Budgetary allocation on Rural Development as a proportion of total budgetary expenditure was 5.1 percent in 2019-20 (B.E.), which reduced to 4.8 percent in 2020-21 (B.E.)

• Expenditure on Health was increased from Rs. 63,830 crore in 2019-20 (R.E.) to Rs. 67,484 crore in 2020-21 (B.E.). Budgetary allocation on Health was Rs. 64,999 crore in 2019-20 (B.E.)

• Budgetary allocation on Health as a proportion of total budgetary expenditure was 2.3 percent in 2019-20 (B.E.), which reduced marginally to 2.2 percent in 2020-21 (B.E.)

• Expenditure on Education was increased from Rs. 94,854 crore in 2019-20 (R.E.) to Rs. 99,312 crore in 2020-21 (B.E.). Budgetary allocation on Education was Rs. 94,854 crore in 2019-20 (B.E.)

• Budgetary allocation on Education as a proportion of total budgetary expenditure was 3.4 percent in 2019-20 (B.E.), which reduced marginally to 3.3 percent in 2020-21 (B.E.)
 
• Expenditure on Social Welfare was increased from Rs. 48,210 crore in 2019-20 (R.E.) to Rs. 53,876 crore in 2020-21 (B.E.)
 
Please click here to access Union Budget Speech 2020-21, which was delivered by Smt. Nirmala Sitharaman, on 1st February, 2020.
 
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Allocations for various schemes under the Union Budget 2020-21 (please click here to access):

(A) Core of the Core Schemes

• National Social Assistance Progamme-NSAP (that includes old age pension, widow pension, pension for disabled, National Family Benefit Scheme & Annapurna) - Rs. 9,200 crore in 2019-20 (Budget Estimate) and Rs. 9,197 crore in 2020-21 (B.E.); Rs. 9,200 crore in 2019-20 (Revised Estimate)

• Mahatma Gandhi National Rural Employment Guarantee Programme - Rs. 60,000 crore in 2019-20 (B.E.) and Rs. 61,500 crore in 2020-21 (B.E.); Rs. 71,002 crore in 2019-20 (R.E.)

• Umbrella Scheme for Development of Schedule Castes - Rs. 5,445 crore in 2019-20 (B.E.) and Rs. 6,242 crore in 2020-21 (B.E.); Rs. 5,568 crore in 2019-20 (R.E.)

• Umbrella Programme for Development of Scheduled Tribes - Rs. 3,810 crore in 2019-20 (B.E.) and Rs. 4,191 crore in 2020-21 (B.E.); Rs. 4,194 crore in 2019-20 (R.E.)

• Umbrella Programme for Development of Minorities - Rs. 1,590 crore in 2019-20 (B.E.) and Rs. 1,820 crore in 2020-21 (B.E.); Rs. 1,709 crore in 2019-20 (R.E.)

• Umbrella Programme for Development of  Other Vulnerable Groups - Rs. 1,818 crore in 2019-20 (B.E.) and Rs. 2,210 crore in 2020-21 (B.E.); Rs. 1,846 crore in 2019-21 (R.E.)

(B) Core Schemes

• Green Revolution - Rs. 12,561 crore in 2019-20 (B.E.) and Rs. 13,320 crore in 2020-21 (B.E.); Rs. 9,965 crore in 2019-20 (R.E.)

• White Revolution - Rs. 2,240 crore in 2019-20 (B.E.) and Rs. 1,805 crore in 2020-21 (B.E.); Rs. 1,799 crore in 2019-20 (R.E.)

• Blue Revolution - Rs. 560 crore in 2019-20 (B.E.) and Rs. 570 crore in 2020-21 (B.E.); Rs. 455 crore in 2019-20 (R.E.)

• Pradhan Mantri Krishi Sinchai Yojana - Rs. 9,682 crore in 2019-20 (B.E.) and Rs. 11,127 crore in 2020-21 (B.E.); Rs. 7,896 crore in 2019-20 (R.E.)

• Pradhan Mantri Gram Sadak Yojana - Rs. 19,000 crore in 2019-20 (B.E.) and Rs. 19,500 in 2020-21 (B.E.); Rs. 14,070 crore in 2019-20 (R.E.)

• Pradhan Mantri Awas Yojana - Rs. 25,853 crore in 2019-20 (B.E.) and Rs. 27,500 crore in 2020-21 (B.E.); Rs. 25,328 crore in 2019-20 (R.E.)

• National Rural Drinking Water Mission restructured and subsumed into Jal Jeevan Mission (JJM) - Rs. 10,001 crore in 2019-20 (B.E.) and Rs. 11,500 crore in 2020-21 (B.E.); Rs. 10,001 crore in 2019-20 (R.E.)

• Swachh Bharat Mission-Urban (SBM-Urban) - Rs. 2,650 crore in 2019-20 (B.E.) and Rs. 2,300 crore in 2020-21 (B.E.); Rs. 1,300 crore in 2019-20 (R.E.)

• Swachh Bharat Mission-Gramin (SBM-Rural) - Rs. 9,994 crore in 2019-20 (B.E.) and Rs. 9,994 crore in 2020-21 (B.E.); Rs. 8,338 crore in 2019-20 (R.E.)

• National Health Mission (NHM) - Rs. 33,651 crore in 2019-20 (B.E.) and Rs. 34,115 crore in 2020-21 (B.E.); Rs. 34,290 crore in 2019-20 (R.E.)

• National Education Mission - Rs. 38,547 crore in 2019-20 (B.E.) and Rs. 39,161 crore in 2020-21 (B.E.); Rs. 37,672 crore in 2019-20 (R.E.)

• National Programme of Mid Day Meal in Schools - Rs. 11,000 crore in 2019-20 (B.E.) and Rs. 11,000 crore in 2020-21 (B.E.); Rs. 9,912 crore in 2019-20 (R.E.)

• Umbrella Integrated Child Development Services (ICDS) - Rs. 27,584 crore in 2019-20 (B.E.) and Rs. 28,557 crore in 2020-21 (B.E.); Rs. 24,995 crore in 2019-20 (R.E.)

• Mission for Protection and Empowerment for Women - Rs. 1,330 crore in 2019-20 (B.E.) and Rs. 1,163 crore in 2020-21 (B.E.); Rs. 961 crore in 2019-20 (R.E.)

• National Livelihood Mission - Ajeevika - Rs. 9774 crore in 2019-20 (B.E.) and Rs. 10,005 crore in 2020-21 (B.E.); Rs. 9,774 crore in 2019-20 (R.E.)

• Jobs and Skill Development - Rs. 7,260 crore in 2019-20 (B.E.) and Rs. 5,372 crore in 2020-21 (B.E.); Rs. 5,749 crore in 2019-20 (R.E.)

• Environment, Forestry and Wildlife - Rs. 886 crore in 2019-20 (B.E.) and Rs. 926 crore in 2020-21 (B.E.); Rs. 787 crore in 2019-20 (R.E.)

• Urban Rejuvenation Mission : AMRUT - Atal  Mission for Rejuvenation and Urban Transformation & Smart Cities Mission - Rs. 13,750 crore in 2019-20 (B.E.) and Rs. 13,750 crore in 2020-21 (B.E.); Rs. 9,872 crore in 2019-20 (R.E.)

• Modernisation of Police Forces - Rs. 3,462 crore in 2019-20 (B.E.) and Rs. 3,162 crore in 2020-21 (B.E.); Rs. 4,155 crore in 2019-20 (R.E.)

• Infrastructure Facilities for Judiciary - Rs. 720 crore in 2019-20 (B.E.) and Rs. 762 crore in 2020-21 (B.E.); Rs. 990 crore in 2019-20 (R.E.)

• Border Area Development Programme - Rs. 825 crore in 2019-20 (B.E.) and Rs. 784 crore in 2020-21 (B.E.); Rs. 825 crore in 2019-20 (R.E.)

• Shyama Prasad Mukherjee Rurban Mission - Rs. 800 crore in 2019-20 (B.E.) and Rs. 600 crore in 2020-21 (B.E.); Rs. 300 crore in 2019-20 (R.E.)

• Rashtriya Gram Swaraj Abhiyan (RGSA) - Rs. 822 crore in 2019-20 (B.E.) and Rs. 858 crore in 2020-21 (B.E.); Rs. 465 crore in 2019-20 (R.E.)

• PMJAY-Ayushman Bharat - Rs. 6,556 crore in 2019-20 (B.E.) and Rs. 6,429 crore in 2020-21 (B.E.); Rs. 3,314 crore in 2019-20 (R.E.)

Some Important Central Sector Schemes (please click here to access)

• Crop Insurance Scheme - Rs. 14,000 crore in 2019-20 (B.E.) and Rs. 15,695 crore in 2020-21 (B.E.); Rs. 13,641 crore in 2019-20 (R.E.)

• Interest subsidy for short term credit to farmers - Rs. 18,000 crore in 2019-20 (B.E.) and Rs. 21,175 crore in 2020-21 (B.E.); Rs. 17,863 crore in 2019-20 (R.E.)

• Market Intervention Scheme and Price Support Scheme (MIS-PSS) - Rs. 3,000 crore in 2019-20 (B.E.) and Rs. 2,000 crore in 2020-21 (B.E.); Rs. 2,010 crore in 2019-20 (R.E.)

• Distribution of Pulses to State / Union Territories for Welfare Schemes - Rs. 800 crore in 2019-20 (B.E.) and Rs. 800 crore in 2020-21 (B.E.); Rs. 370 crore in 2019-20 (R.E.)

• Pradhan Mantri Kisan Samman Nidhi/ Income Support Scheme (PM-KISAN) - Rs. 75,000 crore in 2019-20 (B.E.) and Rs. 75,000 crore in 2020-21 (B.E.); Rs. 54,370 crore in 2019-20 (R.E.)

• LPG connection to poor households - Rs. 2,724 crore in 2019-20 (B.E.) and Rs. 1,118 crore in 2020-21 (B.E.); Rs. 3,724 crore in 2019-20 (R.E.)

• Price Stabilisation Fund - Rs. 2,000 crore in 2019-20 (B.E.) and Rs. 2,000 crore in 2020-21 (B.E.); Rs. 1,820 crore in 2019-20 (R.E.)

• Promotion of Agricultural Mechanization for in-situ Management of Crop Residue - Rs. 600 crore in 2019-20 (B.E.) and Rs. 600 crore in 2020-21 (B.E.); Rs. 594 crore in 2019-20 (R.E.)

• Pradhan Mantri Kisan Sampada Yojana - Rs. 1,101 crore in 2019-20 (B.E.) and Rs. 1,081 crore in 2020-21 (B.E.); Rs. 889 crore in 2019-20 (R.E.)

• Pradhan Mantri Swasthya Suraksha Yojana - Rs. 4,000 crore in 2019-20 (B.E.) and Rs. 6,020 crore in 2020-21 (B.E.); Rs. 4,733 crore in 2019-20 (R.E.)

• Family Welfare Schemes - Rs. 700 crore in 2019-20 (B.E.) and Rs. 600 crore in 2020-21 (B.E.); Rs. 514 crore in 2019-20 (R.E.)

• Police Infrastructure - Rs. 4,757 crore in 2019-20 (B.E.) and Rs. 4,135 crore in 2020-21 (B.E.); Rs. 4,479 crore in 2019-20 (R.E.)

• Prime Minister Employment Generation Programme (PMEGP) - Rs. 2,327 crore in 2019-20 (B.E.) and Rs. 2,500 crore in 2020-21 (B.E.); Rs. 2,464 crore in 2019-20 (R.E.)

• Deen Dayal Upadhyaya Gram Jyoti Yojna - Rs. 4,066 crore in 2019-20 (B.E.) and Rs. 4,500 crore in 2020-21 (B.E.); Rs. 4,066 crore in 2019-20 (R.E.)

• Amended Technology Upgradation Fund Scheme (ATUFS) - Rs. 700 crore in 2019-20 (B.E.) and Rs. 762 crore in 2020-21 (B.E.); Rs. 494 crore in 2019-20 (R.E.)

• Schemes for Safety of Women - Rs. 50 crore in 2019-20 (B.E.) and Rs. 855 crore in 2020-21 (B.E.); Rs. 50 crore in 2019-20 (R.E.)

• Skill Development and Livelihoods - Rs. 557 crore in 2019-20 (B.E.) and Rs. 602 crore in 2020-21 (B.E.); Rs. 582 crore in 2019-20 (R.E.)

• Kisan Urja Suraksha evam Utthaan Mahabhiyan(KUSUM) - Rs. 700 crore in 2020-21 (B.E.)

• Eklavya Model Residential School (EMRS) - Rs. 1,313 crore in 2020-21 (B.E.); Rs. 16 crore in 2019-20 (R.E.)

• Pradhan Mantri Mudra Yojana - Rs. 500 crore in 2019-20 (B.E.) and Rs. 500 crore in 2020-21 (B.E.); Rs. 500 crore in 2019-20 (R.E.)
 
 

Rural Expert


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