Inflation under check, economy strong: India now 5th largest economy: Nirmala declares in budget

Budget promises :

*Thrust for income boost, purchase power * Simplified GST from April 1 * Easier digital governance * Complete elimination of TB by 2025 * Medicines at affordable rates in all villages * FDI in education sector * Internship to young engineers in local bodies * Free investment advisory cell in all states *100 more airports by 2025* Prepaid smart meters in all States * Chennai-Bengaluru Expressway * 6.11 crore farmers insured *Rs 103 lakh cr infra projects initiated * Free wi-fi in 550 Rly. station facilities

New Delhi, Feb 1:

TB eradication

The government will launch a campaign to eliminate tuberculosis (TB) by 2025, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Budget for 2020-21, Sitharaman proposed to expand Jan Aushadhi Kendras to all districts of the country to provide medicines at affordable rates.

She further said proceeds from taxes on medical devices would be used to support setting up of hospitals.

The finance minister further said viability gap funding will be provided for setting up hospitals in districts with no empanelled hospitals under Ayushman Bharat and also to set up warehouses for agri products.

The government has allocated Rs 1.23 lakh crore for rural development and Panchayati raj while Rs 1.6 lakh crore was earmarked for agriculture and allied activities, she added.

The government also plans to expand coverage of artificial insemination to 70 percent from 30 percent to increase livestock productivity, she said adding fish production would be raised to 200 lakh tonne by 2022.

FDI on the rise

Foreign direct investment (FDI) into the country has increased to USD 284 billion during 2014-19, Finance Minister Nirmala Sitharaman said on Saturday while presenting the Union Budget for 2020-21.

“India’s FDI got elevated to the level of $ 284 billion during 2014-19 from $ 190 billion that came in during the years 2009-14,” she said.

The foreign inflows into India grew 15 percent to $26 billion during the first half of the current financial year.

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