BANKING AFFAIRS

Detailed explanation-1: -In terms of social protection and security, gas connections will now be provided to 8 crore poor women. In the energy coverage push, Rs 16, 000 crore for PM Saubhagya Yojana was allocated for connecting 4 crore households with free electricity.

Detailed explanation-2: -At the end of fiscal year 2018, the budgeted estimate of revenue expenditure on non-developmental expenses of India’s central and state governments amounted to more than 22 trillion Indian rupees and developmental expenses amounted to approximately 19 trillion rupees.

Detailed explanation-3: -The Union Budget has estimated gross tax revenue to grow by 16.7 per cent in 2018-19 to 12.1 per cent of GDP (Annex IV). Net of devolution of tax revenues to States, net tax revenue is budgeted to grow by 16.6 per cent to 7.9 per cent of GDP.

Detailed explanation-4: -Finance Minister Shri Arun Jaitley presents general Budget 2018-19 in Parliament. Government says, a series of structural reforms will propel India among the fastest growing economies of the world. Country firmly on course to achieve over 8 % growth as manufacturing, services and exports back on good growth path.

Detailed explanation-5: -The 2018 Union Budget of India (ISO: 2018 kē liē Bhārat kā Kēndrīya Bajaṭ) was the annual financial statement (AFS), demand for grants, appropriation bill and finance bill of India for the financial year 2018–19. It was presented to Parliament on 1 February 2018 by Finance Minister Arun Jaitley.