Key Announcements

Updated : May 6, 2016

One big takeaway from budget is that there is no new idea: P Chidambaram

The Union Budget for FY 2016-17 presented by Finance Minister Arun Jaitley.

Updated : Mar 7, 2016

Rs 70,000 cr allocated for 7th pay commission in Budget

Implementation of the pay commission report in toto is to cost the government Rs 1.02 lakh crore.

Updated : Mar 2, 2016

Budget 2016-17: Expenditure on social, rural and agri sectors to be raised

Delivering the speech for Budget 2016-17 in Parliament, FM Jaitley said the government is launching a new initiative to provide cooking gas to BPL families with state support.

This was the main demand of Food Processing Minister Harsimrat Kaur Badal.

Updated : Mar 2, 2016

100 per cent foreign equity in retail of domestic food products, says Jaitley

In his budget proposals for the next fiscal year, presented in the Lok Sabha, Finance Minister Arun Jaitley on Monday said the approvals for such projects will be accorded by the Foreign Investment Promotion Board.

Updated : Mar 2, 2016

Budget 2016: Rs 500 crore allocated to support SC/ST, women entrepreneurs

Government has allocated Rs 500 crore for scheduled caste, scheduled tribes and women entrepreneurs in the Budget under the Stand Up India scheme.

Updated : Mar 2, 2016

Union budget 2016: Jaitley extends support to export sector

The Finance Minister Arun Jaitley today widened the duty drawback scheme to extend more support to the export sector.

Updated : Mar 2, 2016

Union Budget 2016: Rs 25,000 crore allocated to public sector banks

The Union Finance minister, Arun Jaitley, today allocated Rs.25,000 crore towards the recapitalisation of state-run banks  in the next fiscal. The fund will be disbursed through three trenches.

Finance Minister Arun Jaitley (Photo: Reuters)

Updated : Mar 2, 2016

Govt to implement GAAR from April 2017: FM

Last year, the Finance Minister had deferred applicability of General Anti-Avoidance Act (GAAR) by two years.

Updated : Mar 2, 2016

PSUs to monetise idle assets; Disinvestment Dept renamed

Presenting the Budget for 2016-17, Finance Minister Arun Jaitley also said that NITI Aayog will identify state-owned companies that would be eligible for strategic sale.

Updated : Mar 2, 2016

Budget 2016-17: Over Rs 7,290 cr allocated for AMRUT, 'Smart Cities'

The government today allocated about Rs 7,296 crore for two central schemes -- Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and 'Smart Cities' Mission.

Updated : Feb 29, 2016

Budget 2016-17: Govt to set up higher education financing agency

Presenting the 2016-2017 Budget in the Lok Sabha, Finance Minister Arun Jaitley on Monday said that an enabling regulatory architecture will be provided to 10 public and 10 private institutions to emerge as world-class teaching institutions.

Updated : Feb 29, 2016

Union Budget 2016: 1,500 Multi-skill training institutes to be set up

The Union Finance Minister, Arun Jaitely, today while presenting the Union budget 2016-17 announced that one crore youths would be trained under the government's skill development programme in the next three years.

Updated : Feb 29, 2016

Budget 2016: 3,000 new drug stores, dialysis centres to come up

The government will set up 3,000 new generic medicine stores across the country to tackle the shortage of drugs in rural areas, Finance Minister Arun Jaitley said on Monday.

Updated : Feb 29, 2016

Budget 2016: FM Arun Jaitley allocates Rs.38,500 crore for MGNREGA

The Union Finance Minister Arun Jaitley today allocated Rs.38,500 crore for Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

Updated : Feb 29, 2016

Budget 2016-17: Rs 9000 crore allocated for Swachh Bharat Abhiyan

Swachh Bharat Abhiyan is a national campaign of the central government, covering 4,041 statutory cities and towns, to clean the streets, roads and other infrastructure.

Updated : Feb 29, 2016

Budget 2016: Arun Jaitley outlines nine pillars for transforming India

As Finanace Minister Arun Jaitley tabled Budget 2016, he outlined NDA government's top four priorities for fiscal year 2016-17 that will set the tone of Indian economy going forward: Farm, social, infrastructure and banks.

Updated : Feb 29, 2016

Union Budget 2016-17: Rail, road sector allocated Rs 2,18,000 crore

In boost to the road and rail sector in the country, Finance Minister Arun Jaitley on Monday announced allocation of Rs 97,000 crore for road sector in 2016-17 in his Budget 2016-17 speech.