Budget 2021/2022

  • 1. A new centrally sponsored scheme, PM AtmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs 64,180 crores over 6 years

  • 2. The Jal Jeevan Mission (Urban), will be launched

  • 3. The government provided Rs 35,000 crore for coronavirus vaccine in the FY22 Budget Estimates.

  • 4. Allocated Rs 2,23,846 crore for 'Health and Wellbeing' in BE 2021-22 as against the FY 21 BE of Rs 94,452 crore-- an increase of 137 per cent.

  • 5. Announced 'voluntary vehicle scrapping policy' to phase out old and unfit vehicles.

  • 6. Announced Rs 20,000 crore to capitalise DFI.

  • 7. A "National Monetisation Pipeline" of potential brownfield infrastructure assets will be launched.

  • 8. Railways will monetise Dedicated Freight Corridor assets for operations and maintenance, after commissioning.

  • 9.  Announced a 3,500 km of National Highway works in Tamil Nadu at an investment of Rs 1.03 lakh crore.

  • 10. Announced an outlay of Rs 1,18,101 lakh crore for the Ministry of Road Transport and Highways, of which Rs 18,230 crore will be for capital.

  • 11. Provided a sum of Rs 1,10,055 crore of Railways of which Rs 1,07,100 crore will be for capital expenditure.

  • 12. Two new technologies, that is "MetroLite" and "MetroNeo" will be deployed to provide metro rail systems.

  • 13. Centre will provide funding to Kochi Metro Railway Phase-II of 11.5 km at a cost of Rs 1957.05 crore; Chennai Metro Railway Phase-II of 118.9 km at a cost of Rs 63,246 crore; Bengaluru Metro Railway Project Phase 2A and 2B of 58.19 km at a cost of Rs 14,788 crore; and Nagpur Metro Rail Project Phase-II and Nashik Metro at a cost of Rs 5,976 crore, and Rs 2,092 crore, respectively.

  • 14. Seven projects worth more than Rs 2,000 crores will be offered by the Major Ports on Public-Private Partnership mode in FY21-22.

  • 15.  Introduced an investor charter as a right of all financial investors across all financial products.

  • 16.  An additional capital infusion of Rs 1,000 crore to the Solar Energy Corporation of India and Rs 1,500 to Indian Renewable Energy Development Agency.

  • 17. To further consolidate the financial capacity of PSBs, a further recapitalization of Rs 20,000 crores is proposed in 2021-22.

  • 18. Increase the permissible FDI limit from 49% to 74% in Insurance Companies and allow foreign ownership and control with safeguards.

  • 19. BPCL, Air India, Shipping Corp, Container Corp and other disinvestments will be completed in 2021-22

  • 20. Puts disinvestment receipts at Rs 1.75 lakh crore for the fiscal year beginning April 1, 2021.

  • 21.  Allocated Rs 40,000 crore to the Rural Infrastructure Development Fund.

  • 22. 1,000 more mandis will be integrated with e-NAM.

  • 23.  Launched a portal that will collect relevant information on gig, building, and construction-workers among others, which will help to formulate health, housing, skill, credit, food among other kinds of schemes for migrant workers.

  • 24.  Announced Rs 15,700 crore for the MSME sector in the Budget 2021 speech.

  • 25.  Announced to set up a Central University in Leh

  • 26.  Proposed to make a dividend payment to REIT/ InvIT exempt from TDS.

  • 27.  Extended the eligibility of an additional deduction of interest, amounting to Rs 1.5 lakh, by March 31, 2022.


Budget 2020/2021

  • 1. Model Agricultural Land Leasing Act, 2016

  • 2. Model Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017

  • 3. Model Agricultural Produce and Livestock Contract Farming and Services (Promotion and Facilitation) Act, 2018

  • 4. Propose creating warehousing, in line with Warehouse Development and Regulatory Authority (WDRA) norms.

  • 5. Krishi Udaan will be launched by the Ministry of Civil Aviation on international and national routes.

  • 6. "TB Harega Desh Jeetega" campaign has been launched.

  • 7. The New Education Policy will be announced soon

  • 8. A National Police University and a National Forensic Science University are being proposed in the domain of policing science, forensic science, cyber-forensics etc.

  • 9. To set up an Investment Clearance Cell that will provide "end to end" facilitation and support, including pre-investment advisory, information related to land banks and facilitate clearances at Centre and State level. It will work through a portal.

  • 10. A National Technical Textiles Mission is proposed with a four-year implementation period from 2020-21 to 2023-24 at an estimated outlay of Rs 1,480 crore

  • 11. A National Logistics Policy will be released soon.

  • 12. Proposed to provide Rs 6000 crore to Bharatnet programme in 2020-21.

  • 13. Amendments to the Banking Regulation Act are proposed for increasing professionalism, enabling access to capital and improving governance and oversight for sound banking through the RBI

  • 14. Propose to make necessary amendments to the Factor Regulation Act 2011


Budget 2019/2020

  • 1. 100% FDI to be permitted for Insurance intermediaries

  • 2. New Jal Shakti Mantralaya to ensure Har Ghar Jal

  • 3. PPP in railways infra development

  • 4. Bharatmala phase 2 to be launched

  • 5. To permit transfer of FII/FPI investment in debt securities issued by IDFNBFCs to domestic investors

  • 6. Credit Guarantee Enhancement Corporation to be set up in 2019-20

  • 7. Changes in customs duties to promote Make in India

  • 8. Interest subvention scheme for MSMEs: Rs 350 crore allocated for 2019-20

  • 9. Proposed further recapitalisation of PSBs: ?70,000 crore

  • 10. Fully automated GST refund module shall be implemented.

  • 11. Rationalising of labour laws into 4 labour codes proposed


Budget 2019/2020

  • 1. Rs 60,000 crore are being allocated for MGNREGA in BE 2019-20

  • 2. Launched "Pradhan Mantri KIsan Samman Nidhi (PM-KISAN)", under which, vulnerable landholding farmer families, having cultivable land upto 2 hectares, will be provided direct income support at the rate of Rs 6,000 per year. This programme will entail an annual expenditure of Rs 75,000 crore.

  • 3. Proposed to provide the benefit of 2% interest subvention to the farmers pursuing the activities of animal husbandry and fisheries

  • 4. Proposed to develop a National Artificial Intelligence portal soon.

  • 5. Govt to build 1 lakh digital villages

  • 6. Decided to create a separate Department of Fisheries

  • 7. Budgetary allocation of Rs 19,000 crore for construction of rural roads under Gram Sadak yojana in 2019/20

  • 8. New social security coverage scheme for unorganised sector workers

  • 9. Assured monthly pension of Rs 3,000 rupees per month, with contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age

  • 10. Govt increases defence budget to over Rs 3 lakh crore.

  • 11. A single window clearance for filmmakers

  • 12. Businesses with less than Rs 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to file quarterly returns


Budget 2018/2019

Minister of Finance: Arun Jaitley

Policy initiatives taken by the National Democratic Alliance governments in the Union Budget

  • 1. MSP for all unannounced kharif crops will be one and half times of their production cost like majority of rabi crops.

  • 2. 22,000 rural haats to be developed and upgraded into Gramin Agricultural Markets to protect the interests of 86% small and marginal farmers.

  • 3. "Operation Greens" launched to address price fluctuations in potato, tomato and onion for benefit of farmers and consumers.

  • 4. Two New Funds of Rs10,000 crore announced for Fisheries and Animal Husbandary sectors; Re-structured National Bamboo Mission gets Rs.1290 crore.

  • 5. Loans to Women Self Help Groups will increase to Rs.75,000 crore in 2019 from 42,500 crore last year.

  • 6. Higher targets for Ujjwala, Saubhagya and Swachh Mission to cater to lower and middle class in providing free LPG connections, electricity and toilets.

  • 7. Outlay on health, education and social protection will be 1.38 lakh crore. Tribal students to get Ekalavya Residential School in each tribal block by 2022. Welfare fund for SCs gets a boost.

  • 8. World’s largest Health Protection Scheme covering over 10 crore poor and vulnerable families launched with a family limit upto 5 lakh rupees for secondary and tertiary treatment.

  • 9. Rs. 5.97 lakh crore allocation for infrastructure

  • 10. Ten prominent sites to be developed as Iconic tourist destinations

  • 11. Centres of excellence to be set up on robotics, AI, Internet of things etc

  • 12. Comprehensive Gold Policy on the anvil to develop yellow metal as an asset class

  • 13. More concessions for International Financial Services Centre (IFSC), to promote trade in stock exchanges located in IFSC.

  • 14. Proposal to introduce tax on distributed income by equity oriented mutual funds at the rate of 10 percent.

  • 15. Proposal to increase cess on personal income tax and corporation tax to 4 percent from present 3 percent.

  • 16. Proposed to extend Pradhan Mantri Vaya Vandana Yojana up to March, 2020.

  • 17. Proposal to roll out E-assessment across the country to almost eliminate person to person contact leading to greater efficiency and transparency in direct tax collection.

  • 18. Proposed changes in customs duty to promote creation of more jobs in the country and also to incentivise domestic value addition and Make in India in sectors such as food processing, electronics, auto components, footwear and furniture.

  • 19. Standard Deduction of Rs. 40,000 in place of present exemption for transport allowance and reimbursement of miscellaneous medical expenses. 2.5 crore salaried employees and pensioners to benefit.

  • 20. 100 percent deduction proposed to companies registered as Farmer Producer Companies with an annual turnover upto Rs. 100 crore on profit derived from such activities, for five years from 2018-19.

  • 21. Exemption of interest income on deposits with banks and post offices to be increased from Rs. 10,000 to Rs. 50,000.


Budget 2017/2018

Minister of Finance: Arun Jaitley

  • 1. A dedicated Micro Irrigation Fund will be set up in NABARD to achieve the goal, 'per drop more crop'. The Fund will have an initial corpus of Rs 5,000 crore

  • 2. The coverage of National Agricultural Market (e-NAM) will be expanded from the current 250 markets to 585 APMCs.

  • 3. A Dairy Processing and Infrastructure Development Fund would be set up in NABARD with a corpus of Rs 8,000 crores over 3 years. Initially, the fund will start with a corpus of Rs 2,000 crore

  • 4. Undertaken a Mission Antyodaya to bring one crore households out of poverty and to make 50,000 gram panchayats poverty free by 2019.

  • 5. Budget provision of Rs 38,500 crore under MGNREGA in 2016-17 has been increased to Rs48,000 crore in 2017-18.

  • 6. Together with the contribution of states, an amount of Rs 27,000 crore will be spent on PMGSY in 2017-18.

  • 7. An increased allocation of Rs 4,814 crores has been proposed under the Deendayal Upadhyaya Gram Jyoti Yojana in 2017-18.

  • 8. An Innovation Fund for Secondary Education will be created to encourage local innovation for ensuring universal access, gender parity and quality improvement.

  • 9. Pradhan Mantri Kaushal Kendras (PMKK) has already been promoted in more than 60 districts. It is now proposed to extend these Kendras to more than 600 districts across the country.

  • 10. Proposed to launch the Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) at a cost of Rs 4,000 crore.

  • 11. The next phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will also be launched in 2017-18 at a cost of Rs 2,200 crore.

  • 12. Mahila Shakti Kendra will be set up at village level with an allocation of Rs 500 crore in 14 lakh ICDS Anganwadi Centres.

  • 13. Proposed to amend the Drugs and Cosmetics Rules to ensure availability of drugs at reasonable prices and promote use of generic medicines. New rules for regulating medical devices will also be formulated.

  • 14. For senior citizens, Aadhar based Smart Cards containing their health details will be introduced

  • 15. For passenger safety, a Rashtriya Rail Sanraksha Kosh will be created with a corpus of Rs 1 lakh crore over a period of 5 years.

  • 16. For strengthening our Energy sector, government has decided to set up Strategic Crude Oil Reserves.

  • 17.  Decided to abolish the FIPB in 2017-18.

  • 18.  In line with the 'Indradhanush' roadmap, provided Rs 10,000 crore for 22 recapitalisation of banks in 2017-18.

  • 19.  The government will launch two new schemes to promote the usage of BHIM-- Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.

  • 20. Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly.

  • 21. The holding period for considering gain from immovable property is proposed to be reduced to 2 years.

  • 22.  The maximum amount of cash donation that a political party can receive will be Rs 2000/- from one person

  • 23. Propose to reduce the existing rate of taxation for individual assesses between incomes of Rs 2.5 lakhs to Rs 5 lakhs to 5% from the present rate of 10%.

  • 24. Steps will be taken for linking of individual demat accounts with Aadhar.


Budget 2016/2017

Minister of Finance: Arun Jaitley

  • 1. Allocation for Agriculture and Farmers welfare is Rs 35,984 crore

  • 2. A dedicated long term irrigation fund will be created in NABARD with an initial corpus of about Rs 20,000 crore

  • 3. Allocation under Prime Minister Fasal Bima Yojana Rs 5,500 crore.

  • 4. Allocation for rural sector - Rs 87,765 crore.

  • 5. A sum of Rs 38,500 crore allocated for MGNREGS.

  • 6. New scheme Rashtriya Gram Swaraj Abhiyan proposed with allocation of Rs 655 crore.

  • 7. Allocation for social sector including education and health care - Rs 1,51,581 crore.

  • 8. Rs 2,000 crore allocated for initial cost of providing LPG connections to BPL families.

  • 9. 62 new Navodaya Vidyalayas will be opened

  • 10. Digital Depository for School Leaving Certificates, College Degrees, Academic Awards and Mark sheets to be set-up.

  • 11. Allocation for skill development - Rs 1804. crore.

  • 12. Government of India will pay contribution of 8.33% for of all new employees enrolling in EPFO for the first three years of their employment. Budget provision of Rs 1000 crore for this scheme.

  • 13. Total investment in the road sector, including PMGSY allocation, would be Rs 97,000 crore during 2016-17.

  • 14. Total outlay for infrastructure - Rs 2,21,246 crore.

  • 15. Reforms in FDI policy in the areas of Insurance and Pension, Asset Reconstruction Companies, Stock Exchanges.

  • 16. Amendments in the SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100% stake in the ARC and permit non institutional investors to invest in Securitization Receipts.

  • 17. Allocation of Rs 25,000 crore towards recapitalisation of Public Sector Banks.

  • 18. Target of amount sanctioned under Pradhan Mantri Mudra Yojana increased to Rs 1,80,000 crore

  • 19. Automation facilities will be provided in 3 lakh fair price shops by March 2017.

  • 20. Price stabilisation fund with a corpus of Rs 900 crore to help maintain stable prices of pulses.

  • 21. Total expenditure projected at Rs 19.78 lakh crore.

  • 22. New Dispute Resolution Scheme to be introduced.

  • 23. Penalty rates to be 50% of tax in case of underreporting of income and 200% of tax where there is misreporting of facts.


Budget 2015/2016

Minister of Finance: Arun Jaitley

  • 1. Non-Plan expenditure estimates for the Financial Year are estimated at Rs 13,12,200 crore

  • 2. Rs 5,300 crore to support micro-irrigation, watershed development and the 'Pradhan Mantri Krishi Sinchai Yojana'.

  • 3. Rs 25,000 crore in 2015-16 to the corpus of Rural Infrastructure Development Fund (RIDF) set up in NABARD; Rs 15,000 crore for Long Term Rural Credit Fund; Rs 45,000 crore for Short Term Co-operative Rural Credit Refinance Fund; and Rs 15,000 crore for Short Term RRB Refinance Fund.

  • 4. Pradhan Mantri Suraksha Bima Yojna to cover accidental death risk of Rs 2 Lakh for a premium of just Rs 12 per year.

  • 5. National Investment and Infrastructure Fund (NIIF), to be established with an annual flow of Rs 20,000 crores to it

  • 6. Tax free infrastructure bonds for the projects in the rail, road and irrigation sectors.

  • 7. Foreign investments in Alternate Investment Funds to be allowed.

  • 8. A project development company to facilitate setting up manufacturing hubs in CMLV countries, namely, Cambodia, Myanmar, Laos and Vietnam.

  • 9. Visas on arrival to be increased to 150 countries in stages.

  • 10. Target of renewable energy capacity revised to 175000 MW till 2022, comprising 100000 MW Solar, 60000 MW Wind, 10000 MW Biomass and 5000 MW Small Hydro.

  • 11. Deen Dayal Upadhyay Gramin Kaushal Yojana to enhance the employability of rural youth.

  • 12. New All India Institute of Medical Science (AIIMS) to be set up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam. Another AIIMS like institutions to be set up in Bihar.

  • 13. Devolution to the States is estimated to be Rs 5,23,958.

  • 14. General Anti Avoidance Rule (GAAR) to be deferred by two years.

  • 15. 100% deduction for contributions, other than by way of CSR contribution, to Swachh Bharat Kosh and Clean Ganga Fund.

  • 16. Additional deduction of ` 50000 for contribution to the new pension scheme u/s 80CCD.

  • 17. Tariff rate on commercial vehicle increased from 10 % to 40%

  • 18. Total Expenditure has accordingly been estimated at Rs 17,77,477 crore.


Budget 2014/2015

Minister of Finance: Arun Jaitley

  • 1. New Urea Policy to be formulated.

  • 2. Announced transforming employment exchanges into career centres; provided Rs 100 crore for the purpose.

  • 3. Proposed to raise the composite cap in the insurance sector to up to 49 per cent from 26 per cent with full Indian management and control through the FIPB route.

  • 4. Proposed to allow manufacturing units to sell products through retail including e-commerce platforms.

  • 5. Provided Rs 14,389 crore for Pradhan Mantri Gram Sadak Yojna

  • 6. Allocated Rs 150 crore for a scheme to increase the safety of women in large cities.

  • 7. Proposed to set up 12 government medical colleges.

  • 8. Allocated Rs 100 crore for 600 new and existing Community Radio Stations

  • 9. Allocated Rs 5,000 crore for the Warehouse Infrastructure Fund.

  • 10. Proposed to set up an institution to provide support to mainstreaming PPPPs called 4PIndia with a corpus of Rs 500 crore.

  • 11. Announced a scheme for development of new airports in Tier I and Tier II cities.

  • 12. Proposed an investment of Rs 37,880 crore in NHAI and state roads including Rs 3,000 crore for the northeast.


2004/05 Interim Budget

Minister of Finance - Jaswant Singh

  • 1. Merged Dearness Allowance, to the extent of 50 per cent of pay, with basic pay. This came into effect on April 1, 2004.

  • 2. Exempted listed equities acquired on or after March 1, 2003 from long-term capital gains tax for three more years.

  • 3. Fixed Gross Budgetary Support for Plan 2004/05 was fixed at Rs 135,071 crore, up 11.6 per cent from the previous year.

  • 4. Introduced arm Income Insurance Scheme in 20 districts on a pilot basis; was later extended to 100 districts

  • 5. Announced a scheme to revitalize the cooperative credit structure, envisaging an outlay of about Rs 15,000 crore, to be shared between the central and state governments, in an appropriate ratio.

  • 6. A non-lapsable Defence Modernisation Fund of Rs 25,000 crore was made available from the new financial year

  • 7. Fiscal benefits available to new projects in the power sector were extended up to 2012 instead of 2006


Budget 2003/2004

Minister of Finance - Jaswant Singh

  • 1. Announced a restructured pension scheme for new central government employees and for the general public

  • 2. Liberalized the mega power project policy by extending all the benefits to any power project that fulfilled the conditions prescribed for mega power projects

  • 3. Exempted water supply projects in regard to capital goods and machinery, both from customs and excise duties

  • 4. Abolished the excise duty of Re 1 per kg on tea and replace it by a cess of Re 1 per kg to create a separate fund for development, modernisation and rehabilitation of the tea plantation sector.

  • 5. Reduced the basic customs duty on specified veterinary drugs from 15 per cent to 10 per cent.

  • 6. Raised the issue price of fertilisers by Rs 12 for urea, and Rs 10 for DAP and MOP, per 50 kg bag.

  • 7. Proposed to make dividend tax free from April 1, 2003 in the hands of the shareholders. Proposed 12.5 per cent dividend distribution tax on domestic companies. While mutual funds, including UTI-II, renamed UTI Mutual Fund, would pay dividend distribution tax, it was proposed to exempt equity-oriented schemes from the purview of the tax for one year.

  • 8. Proposed to extend the tax holiday to R&D companies established until March 31, 2004.

  • 9. Reduced the customs duty on specified life saving equipment from 25 per cent to 5 per cent, and exempted them from CVD (additional customs duty).


Budget 2002/2003

Minister of Finance - Yashwant Sinha

  • 1. Raised allocation for the Accelerated Irrigation Benefit Programme from Rs 2,000 crore this year to Rs 2,800 crore in 2002/03.

  • 2. Special one-time settlement scheme for small and marginal farmers was to be announced by the RBI to cover loans up to Rs 50,000.

  • 3. Allocated Rs 2,500 crore for the Pradhan Mantri Gram Sadak Yojana.

  • 4. Introduced a new interest subsidy scheme called the Accelerated Rural Electrification Programme with an outlay of Rs 164 crore.

  • 5. Announced setting up Urban Reform Incentive Fund with an initial allocation of Rs 500 crore to provide reform-linked assistance to states.

  • 6. Announced establishing an infrastructure equity fund of Rs 1,000 crore to help in providing equity investment for infrastructure projects

  • 7. Expansion of futures and forward trading to cover all farm commodities.

  • 8. Proposed levy of User Development Fee at new airports.

  • 9. Announced dismantling of Administered Price Mechanism in the petroleum sector from April 1, 2002; made pricing of petroleum products market determined.

  • 10. Allocated Rs 65,000 crore for defence expenditure.


Budget 2001/2002

Minister of Finance - Yashwant Sinha

  • 1. Proposed to issue Kisan Credit Cards to all eligible farmers within three years

  • 2. Electricity Bill 2001 to be introduced.

  • 3. Stepped up allocation to the Accelerated Power Development Programme to Rs 1,500 crore from Rs 1,000 crore in 2000/01.

  • 4. Increased investment limit in a company under the portfolio investment route by FIIs to 49 per cent from 40 per cent.

  • 5. Enhanced the allocation for textiles by more than 50 per cent from Rs 457 crore in 2000/01 to Rs 650 crore in 2001/02.

  • 6. Enhanced standard licence fee (rent) on government accommodation by 50 per cent for Group A, 25 per cent for Group B and 15 per cent for other categories of staff from April 1, 2001.

  • 7. Suspended facility of LTC to central government employees for two years for the remaining part of the four-year block period except for employees who were entitled to last LTC before retirement.

  • 8. Proposed to abolish the Banking Services Recruitment Boards. This would be done in association with the Reserve Bank of India by July 31, 2001 or earlier. All future recruitments to be done by banks themselves.

  • 9. Proposed to introduce a special scheme for landless agricultural labourers, the Khetihar Mazdoor Bima Yojana, to provide benefits of insurance cover as available under Janashree Bima Yojana and a pension of Rs 100 per month, to the beneficiary on attaining the age of 60 years.


Budget 2000/2001

Minister of Finance - Yashwant Sinha

  • 1. Proposed to create a Microfinance Development Fund of Rs 100 crore in NABARD.

  • 2. Proposed to set up a National Commission on Land Use Policy.

  • 3. Increased the plan outlay for the central PSUs in the power sector from Rs 7,626 crore to Rs 9,194 crore.

  • 4. National Housing Bank to provide refinance for construction of 1.5 lakh houses under Golden Jubilee Rural Housing Finance Scheme.

  • 5. Doubled funds for developing the Indian system of medicine and homeopathy to Rs 100 crore.

  • 6. Made access of Indian companies to foreign portfolio investment more flexible.

  • 7. Proposed to bring down government equity in all non-strategic PSUs to 26% and below.

  • 8. Raised allocation for defence to Rs 58,587 crore from Rs 45,694 crore


Budget 1999/2000

Minister of Finance - Yashwant Sinha

  • 1. Proposed a National Programme for Rural Industrialisation with an aim to set up 100 rural clusters every year to boost industrialisation.

  • 2. Proposed to initiate a system of Zero Base Budgeting.

  • 3. Lending by banks for food and agro-processing industries to be treated as priority sector lending.

  • 4. New credit insurance scheme for small-scale units.

  • 5. Plan outlay for agriculture raised 35% and for social services 22%.


Budget 1998/1999

Minister of Finance - Yashwant Sinha

  • 1. Proposed to repeal Urban Land Ceiling & Regulation Act to enhance supply of land.

  • 2. Proposed to allow foreign institutional investor (FII) debt funds to invest in unlisted domestic debt securities; the risk of default to be borne by the FIIs.

  • 3. New experimental crop insurance scheme launched in 24 selected districts to cover non-loanee farmers with a provision of Rs 100 crore.

  • 4. Levied petrol cess of Rs 1/litre to fund National Highways expansion.

  • 5. Allocated Rs 500 crore to National Highways Authority of India.

  • 6. Increased budget allocation for education by 50%.

  • 7. Provided Rs 100 crore for free education to girls.

In Pictures

  • Arun Jaitley outside North Block before presenting the General Budget for FY15
  • Jaswant Singh on his way to Parliament to present the Interim Budget for 2004-05
  • Jaswant Singh outside Parliament before presenting the Union Budget for 2003-04
  • Yashwant Sinha with his team before presenting the Budget for 2002-03
  • Yashwant Sinha heads to Parliament with his team to present the Budget for 2001-02
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