For Youth
- Will introduce a system of measuring annual learning outcomes and come out with an innovation fund for secondary education.
- Focus will be on 3479 educationally-backward blocks.
- Colleges will be identified based on accreditation.
- Skill India mission was launched to maximise potential. Will set-up 100 India International centre across the country.
- Courses on foreign languages will be introduced.
- Will take steps to create 5000 PG seats per annum.
For the Poor and Underprivilege Health Care
- Rs 500 crore allocated for Mahila Shakthi Kendras.
- Under a nationwide scheme for pregnant women, Rs 6000 will be transferred to each person.
- A sum of Rs 184632 crore allocated for women and children.
- Affordable housing will be given infrastructure status.
- Owing to surplus liquidity, banks have started reducing lending rates for housing.
- Elimination of tuberculosis by 2025 targeted.
- Health sub centres, numbering 1.5 lakh, willl be transformed into health wellness centres.
- Two AIIMS will be set-up in Jharkhand and Gujarat
- Will undertake structural transformation of the regulator framework for medical education.
- Allocation for Scheduled Castes is Rs 52,393 crore.
- Aadhaar-based smartcards will be issued to senior citizens to monitor health.
Read also – Monthly Current Affairs
Funding of Political Parties
- The maximum amount of cash donation for a political party will be Rs 2000 from any one source.
- Political parties will be entitled to receive donations by cheque or digital mode from donors.
- An amendment is being proposed to the RBI Act to enable issuance of electoral bonds. A donor can purchase these bonds from banks or post offices through cheque or digital transactions. They can be redeemed only by registered political parties.
Economy Survey 2016-17
- Union Finance Minister Arun Jaitjey presented the Economic Survey 2017 on January 31, 2017. The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Finance Ministry under the overall guidance of the Chief Economic Adviser.
Fiscal Deficit
- The Central government is confident of achieving fiscal deficit of 3.5% for 2016-17 of GDP.
- Non-tax revenues have been challenged owing to shortfall in spectrum and disinvestment receipts but also to forecast optimism; the stress in public sector enterprises has also reduced dividend payments.
- The consolidated deficit of the States has increased steadily in recent years, rising from 2.5% of GDP in 2014-15 to 3.6% of GDP in 2015-16, in part because of the Ujwal DISCOM Assurance Yojana (UDAY) scheme.
GDP Growth
- GDP growth expected to be between 6.75% and 7.50% in 2017-18.
- Real GDP growth expected at 6.5% in 2016-17.
- GVA growth at basic prices 7.0% in 2016-17.
Inflation and Monetary Policy
- Average retail inflation, measured by Consumer Price Index (CPI), in 2016-17 (April-December) seen at 4.9%.
- Average Wholesale Price Index (WP1) inflation, in 2016-17 (April-December) seen at 3.4% from -5.1% in August, 2015.
- RBI’s target of below 5% CPI inflation this year is expected to be assisted by demonetisation.
- The Reserve Bank of India (RBI) has cut the repo rate by 25 basis points each in April, 2016 and October, 2016 to 6.25%.
