- Finance Minister Arun Jaitley presented the Union budget 2017-2018.The Budget for 2017-18 contains three major reforms.
1.Presented on Februray 1, 2017 instead of usual practice of being presented on last day of February.
2.Merger of Railway Budget with the General Budget
3.Abolition of Planned & Non-Planned Expenditure
Agenda of Union Budget 2017-18
i. The agenda for the Union Budget 2017-18 is TEC India, where T stands for Transform, E stands for Energize and C for Clean.
ii. The agenda seeks to transform the quality of governance and life of people; Energise various sections of society especially the youth and the vulnerable to bring out the best in them and Clean the country from the evils of corruption, black money and non-transparent political funding.
iii. The total Budget expenditure allocated for 2017-18 is Rs. 21.47 lakh crores.
10 Pillars of Budget 2017-18
The Budget 2017-18 is based on 10 distinct pillars to meet the TEC India agenda.
4.Poor and the Underprivileged
9.Prudent Fiscal Management
- The Ministry of Women and Child Development has clarified that there is no provision for individual cash transfer component in Beti Bachao Beti Padhao scheme.
- The Union Cabinet under the Chairmanship of Prime Minster Narendra Modi on February 1, 2017 gave its approval to amend the Constitution (Scheduled Castes) Order, 1950 Bill to make changes the list of Scheduled Castes in Odisha.
- A high-level consultation was held between India and Russia on January 31, 2017 in New Delhi to share views on threats posed by terrorism.
- The Union cabinet led by PM Modi has given its approval on February 1, 2017 to extend the tenure of loans under the Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (Urban) Mission from the current 15 years to 20 years.
- The Union Cabinet approved introduction of the Indian Institutes of Information Technology (Amendment) Bill, 2017 in Parliament on February 1, 2017.The amended Bill aims to include Indian Institute of Information Technology Design and Manufacturing (IIITDM), Kurnool in Andhra Pradesh in the Act and declare it as an institute of National Importance with the power to award degrees to students
- Union Minister for Information & Broadcasting M Venkaiah Naidu was inaugurated the Digital Radio or All Round Table Conference in New Delhi on January 31, 2017
- The UN Children’s Fund (UNICEF) launched an appeal for the year 2017 on January 31, 2017 for USD 3.3 billion to help over 48 million children across the globe who are driven from their homes due to conflict, disasters and climate change.
- India is invited as the Guest country for the upcoming 2017 St. Petersburg International Economic Forum which was scheduled to be held from June 1 to 3, 2017
- Fiscal deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget target against 87.9 per cent for the same period a year ago.
- An IT Risk Assessment and Digital Security Services Providing Firm, Lucideus, was awarded the best IT Startup under the IT (Information Technology) and ITES (Information Technology Enabled Services) category on January 30, 2017 during the National Entrepreneurship Awards 2016.
- Rajasthan and Telangana are bagged the eGovernance awards for Excellence under the state category at the CSI -Nihilent eGovernance Awards held in Coimbatore on January 31, 2017.
- Former Union minister and Indian Union Muslim League leader E Ahamed has passed away in New Delhi on February 1, 2017.He was 78.