ANALYSIS OF INDIAS BUDGET FOR PAST 3 YEARS

Submitted by:
Gaurav Godara
Hanish Satija
Jishnu Goswami
Karthik Rajendran
Manoj T
Nisha Jaiswal
Prashant Arora

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Income Tax
2014-15: Income tax exemption was raised to 2.5lac from 2lac. For senior citizens it was raised to
3lacs.
2015-16: Tax slab remained the same, but for people having income less than 5lac, the ceiling for tax
rebate under 87A was raised to Rs5000. House rent under 80GG has been raised to Rs60,000 from
24,000.
2016-17: Tax slabs this year also remained the same. Total limit for tax exemption is now raised to
Rs4,44,200.
This provided more money in the hands of Indian middle class, hence they had more spending power
and thus increase in consumption which contributed to increase in GDP.

Education
2014-15: 5 more IIMs and IITs to be opened. Apart from this, 4 more AIIMS like institutes to be opened.
2015-16: 6 new AIIMS and 2 new IITs were opened.
2016-17: 10 private and 10 public institutes to become world class. Digital literacy mission for rural
India was announced. This aims at increasing literacy in rural areas. 62 new Navodaya Vidyalayas to
be opened.
Looking at the governments effort to raise the education standards, this is a clear indicator that
government is trying to improve the HDI. This is also a governments effort to put India into the global
excellence level.

Agriculture
2014-15: Open Agriculture and Horticulture Universities setup. To meet the unexpected changes in
climate, a National Adaption Fund to be setup. Rs100crore set aside for Agri-tech Infrastructure Fund.
2015-16: Rs25,000crore for Rural Infrastructure Development Bank. Rs5,300 to support Micro
Irrigation Programme. Farmers credit of 8.5lac crore to be addressed.
2016-17: 5lac acres to be brought under organic farming over three-year period. Rs60,000 crore
allocated for recharging of ground water to address the draught hit areas. NABARD allocated
Rs20,000crore for irrigation fund. Nominal premium and highest compensation for crops lost under
Pradhanmantri Fasal Bima Yojna.
Looking at the data, we can certainly say that government has allocated a huge amount of money for
the farmers who are the pride of the nation. With increase in farmer suicides, these steps were
necessary to and to curb the farm crisis.

Other Initiatives
2014-15: Beti Bachao, Beti Padhao scheme launched and allocated Rs100crore to it. Deendayal
Upadhyaya Gram Jyoti Yojna, Shyama Prasad Mukherji Rurban Mission, Swatchh Bharat Abhiyan,
Pradhan Mantri Krishi Sinchayee Yojana, Skill India, KVP, Digital India and various other schemes were
announced.

2015-16: GST and JAM trinity (Jan Dhan Yojna, Aadhaar, Mobile) to improve the quality of life and to
benefit the common man. Under Swatchh Bharat Abhiyan, 6crore toilets to made across the country.
Aim for Housing for all by 2020. DBT to be expanded to 10.3crore. New scheme for physical aids and
assisted living devices for peopled aged above 80.
2016-17: Digital Literacy Mission Scheme for rural India, Rashtriya Gram Swaraj Abhiyan, Pradhan
Mantri Mudra Yojana, Start Up India- Stand Up India, Rashtriya Swastya Bima Yojana announced.
All these measures are targeted to uplift the overall living condition of the population. The parameters
contributing to HDI are specifically targeted to increase Indias position in this Index.