Feb 29, 2016
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Highlights – India 2016/17 budget focuses on rural economy

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India’s Finance Minister Arun Jaitley arrives at the parliament to present the federal budget for the 2016/17 fiscal year, in New Delhi, India, February 29, 2016.  REUTERS/Adnan Abidi

 

NEW DELHI (Reuters) – Indian Finance Minister Arun Jaitley unveiled a budget for the poor on Monday, announcing new rural aid and health programmes in a strategy shift that could boost his ruling party in coming state elections.

Here are the highlights of Jaitley’s budget for the fiscal year that begins on April 1:

RURAL ECONOMY

* Rural jobs programme allocated 385 billion rupees ($5.61 billion) in 2016/17

* Farmer welfare budget in 2016/17 to total 359.84 billion rupees

* Rural road development to get 190 billion rupees in 2016/17

* Target of agriculture credit at 9 trillion rupees in 2016/17

* Interest subvention towards farm loans in 2016/17 at 150 billion rupees

($1 = 68.6700 Indian rupees)

(Compiled by Tommy Wilkes and Krishna N. Das)

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Economy · India · India