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After demonetisation, every class of citizens had big expectations—realistic or not—from the government to offer some sort of relief. However, <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">Budget</keyword> 2017 has failed to meet most of the raised expectations. 
 
Below are the details of what different sections wanted and what they got in Budget 2017. 
 
<a href="http://www.businessinsider.in/this-is-what-budget-2017-had-in-store-for-startups/articleshow/56905882.cms">ALSO READ: This is what Budget 2017 had in store for startups</a> 
 
Individual taxpayers 
 
What you wanted: Minimum slab for personal income tax was expected to be raised by at least Rs 1 lakh. Slabs were also expected to be restructured by lowering tax on slabs above Rs. 5 lakh. 
 
What you got: Tax rate for individuals in the lowest income tax slab—Rs 2.5 lakh to Rs 5 lakh—to 5 per cent instead of 10 per cent. 
 
Corporates 
 What you wanted: <keyword id="6390789" type="COMPANY" weightage="20" keywordseo="Jaitley">Jaitley</keyword> was expected to cut corporate tax of 30 per cent by at least one percentage point as he has himself promised in his Budget speech in 2015 to reduce it from 30 per cent to 25 per cent in a phased manner over three years. Minimum Alternate Tax (MAT) on special economic zones was expected to be reduced to 10 percent in the upcoming Budget to boost investments. MAT rates have more than doubled from 7.5 percent in 2007 to 18.5 percent today. 
 
 What you got: MAT allowed to be carried forward for 15 years from 10 years now. Corporate tax was reduced to 25 per cent—but only for those with an annual turnover of up to Rs 50 crore. 
 
<a href="http://www.businessinsider.in/where-indian-start-ups-stand-globally-after-union-budget-2017-18/articleshow/56916586.cms">ALSO READ: Where Indian start-ups stand globally after Union Budget 2017-18</a> 
 
IT companies 
 What you wanted: Weighted deduction on <keyword id="73655" type="ORGANIZATION" weightage="20" keywordseo="Research-and-Development">Research and Development</keyword> (R&amp;D) and skill development expenses that are extended to many other sectors. 
 
What you got: Nothing. 
 
Youth 
 
What you wanted: Cheaper mobile phones and other electronic gadgets. More affordable education loans. More jobs. 
 
What you got: No immediate benefit but several schemes with long-term impact: schemes to promote skills and employment-linked training in the rural India; making school and college education more outcome-based; effective accreditation for colleges; and SWAYAM platform with at least 350 online courses. 
 
Banks 
 
What you wanted: Tax exemptions customers as well as vendors/merchants conducting digital transactions above a certain limit. More capital infusion. 
 
What you got: Increase in allowable provision for non-performing assets of banks from 7.5 per cent to 8.5 per cent. No additional capital infusion except Rs 10,000 crore under the ongoing Indradhanush scheme. 
 
Housing sector 
 
What you wanted: Higher income tax incentives for first-time home buyers. Infrastructure status to the housing sector. 
 
What you got: Affordable housing given infrastructure status. Tax relief to real estate developers on the unsold stock as a liability to pay capital gains will arise only in the year a project is completed. 
 
Mobile manufacturers 
 
What you wanted: A 10-year tax holiday for local mobile manufacturers. Exemption of duty on import of capital goods used 
 
 in the manufacturing of mobile handsets and components. 
 What you got: The government has proposed to impose a 2% special additional duty on populated printed circuit boards (<keyword id="6355595" type="COMPANY" weightage="20" keywordseo="PCB">PCB</keyword>) used for mobile phones, those which are imported into the country. In last year’s budget, the government had levied a 2% SAD on PCBs but later rolled it back after the industry said the ecosystem for local manufacturing of these components was not ready in India. 
 
The poor 
 
 What you wanted: The way The Economic Survey 2016-17 advocated universal basic income, there was an expectation that something similar will be offered in the Budget. Cheaper daily use goods. 
 
What you got: Nothing. 
 
The middle class 
 
What you wanted: Moving up of the lowest income-tax slab. More income tax exemptions on a home loan. Cheaper consumer durables. 
 
What you got: Tax rate for individuals in the lowest income tax slab—Rs 2.5 lakh to Rs 5 lakh—to 5 per cent instead of 10 per cent. 
 
<keyword id="624" type="ORGANIZATION" weightage="20" keywordseo="Women">Women</keyword> 
 
What you wanted: Lower interest on loans. Incentives for women entrepreneurs. 
 What you got: <keyword id="4127860" type="UNKNOWN" weightage="20" keywordseo="mahila-shakti-kendra">Mahila Shakti Kendra</keyword> will be set up with an allocation of Rs. 500 crores in 14 lakh ICDS Anganwadi Centres.

What you wanted vs. what you got in Budget 2017

"Education which does not help common mass of people to equip themselves is it worth of name?.." Finance Minister <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> quoted Swami Vivekanandav in the Parliament, before making some of the biggest Budget announcements India has received in education sector so far. 
 
While highlighting Modi government's "Transform, Energize and Clean India" mission for Budget 2017-18, the Finance Minister said,"Quality education will energize our youth." 
 
He proposed the introduction of a system of measuring annual learning. Emphasis, he said, will be given to science education in schools. 
 
To free CBSE and other agencies of administrative responsibilities, he announced a National Testing agency to conduct all examinations in higher education. 
 
Additionally, in a major push to Make In India, Jaitley announced 100 international skill centres across India to help youth who are seeking jobs overseas. 
 
3479 educationally backward blocks will be given focus. A Swayam platform will be launched with atleast 350 online courses and it will be made available through DTH. 
 
Other key highlights concerning education, youth, women and minorities: 
 
Youth 
- Legislative reforms to simplify existing labour laws 
- ​Stress on vocational training for youth - Two new <keyword id="40458" type="COMPANY" weightage="20" keywordseo="AIIMS">AIIMS</keyword> to be set up in Jharkhand and Gujarat 
- Stepped up allocation for welfare of women and child at 1,82,000 crore 
-​ One stop convergence support system for skill employment etc for rural women 
 
Women and Children 
- Model Shops and Establishment Bill to open up additional opportunities for employment of women 
- For welfare of women and children, allocation stepped up from Rs 1,56,528 cr to Rs 1,84,632 cr in 17-18 - Rs 500 cr allocated to set up <keyword id="4126560" type="UNKNOWN" weightage="20" keywordseo="mahila-shakti-kendras">Mahila Shakti Kendras</keyword> 
- Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women and child welfare. 
- Hiked Allocation For Women Skill Development to Rs 1.84 lakh cr 
- Total allocation to women and children related schemes to rise from Rs 1.56 lakh crore to Rs 1.84 lakh crore 
 
Minorities - SC/ST 
- 35% increase in funds allocation for schedule castes to Rs 52,393 crore. 
- Allocation for minorities stepped up 4195 cr. 
- Outcome based monitoring by NITI Aayog introduced. 
 The Finance Minister said,"Providing quality education is very crucial to the children who are on their way to create India’s core working population in the next 10 years. This development in their formative years can help the country in the years to come. <keyword id="6599769" type="UNKNOWN" weightage="20" keywordseo="Budget-2017">Budget 2017</keyword> is an opportunity for the government to concentrate on the improvement of school education for children who are enrolled in primary and secondary schools. The Centre’s commitment to education has always been high on intent but low in practice." 
 
The Budget 2016-17 allocated Rs 1,51,581 crore for social sector including education and health care. The then budget included 62 new Navodaya Vidyalayas to be opened, Sarva Shiksha Abhiyan to increasing focus on quality of education, regulatory architecture to be provided to ten public and ten private institutions to emerge as world-class Teaching and Research Institutions, set up of higher education financing agency with initial capital base of 1000 Crores and the digital depository for school leaving certificates, college degrees, academic awards &amp; mark sheets to be set-up.

Finance Minister Arun Jaitley makes biggest announcements for Education Sector in India

Minister <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> presented the Union Budg2017, his fourth annual <keyword id="6358021" type="PERSON" weightage="20" keywordseo="budget">budget</keyword>, today. The highlights of Budget 2017 are : 
 
 
Monetary policy to be expansionary in major economies 
 
More steps will be taken to benefit farmers and the weaker sections; budget being presented during weak global economy 
 Pace of remonetisation has picked up; <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> effects will not spill over to next year 
 
Functional autonomy of the railways to be maintained 
 
Demonetisation will help in transfer of resources from tax evaders to government: 
 
Merger of Railways Budget with General Budget brings focus on a multi-modal approach for development of railways, highways and inland water transport 
 
Only transient impact on economy due to demonetisation; long term benefit include higher GDP growth and tax revenue 
 
GDP will be bigger, cleaner after demonetisation 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">Finance Minister</keyword> 
 
 Effects of demonetisation not expected to spill over to the next year, says <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> Minister 
 
 
Govt took two tectonic policy initiatives - passage of GST Bill and demonetisation 
 
Demonetisation was a continuation of series of measures taken by govt in 2 yrs; it is bold and decisive measure 
 
We are seen as engine of global growth; IMF sees India to grow fastest in major economies 
 
36 pc increase in FDI flow; forex reserves at USD 361 billion in January enough to cover 12 months needs 
 
CAD declined from 1 pc last year to 0.3 pc in first half of current fiscal: FM 
 
 
India has emerged as bright spot in the world: FM 
 
 
Uncertainty around commodity prices especially oil to have impact on emerging economies: FM 
 
Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched: FM 
 
We have moved from discretionary based administration to policy based administration: FM Jaitley 
 
Agricultural sector is expected to grow at 4.1 per cent this fiscal, says Jaitley 
 
Demonetisation was a bold and decisive strike in a series of measures to arrive at a new norm of bigger, cleaner and real GDP 
 
Committed to double farm income in 5 yrs 
 
Plan, non-plan classification of expenditure done away with in the Budget for 2017-18 to give a holistic picture 
 
Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 krishi vigyan kendras in the country 
 
Budget presentation advanced to help begin implementation of schemes before onset of monsoon 
 
We will continue the process of economic reform for the benfit of poor 
 
Spend more in rural areas, infra, poverty alleviation, while maintaining fiscal prudence as guiding principle of Budget 
 
Our agenda for next year is to transform, energise and clean India 
 <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> expects GDP growth rate at 7.6 pc in FY18 and 7.8 pc in FY19 
 
Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore. This is highest ever allocation 
 
Rs 9,000 cr higher allocation for payment of sugarcane arrears 
 
Target of agriculture credit fixed at Rs 10 lakh cr in 2017-18 
 
Tax administration honouring the honest is one of the 10 pillars of Budget 2017-18 
 
National Testing agency to conduct all examinations in higher education, freeing CBSE and other agencies 
 
133-km road per day constructred under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14 
 
Govt to set up dairy processing fund of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore 
 
1 cr households to be brought out of poverty under Antodya Scheme 
 
Participation of women in MNREGA increased to 55 pc from 45 pc in past 
 
Modern law on contract farming will be drafted and circulated to states 
 
Dedicated micro-irrigation fund to be created with a corpus of Rs 5000 crore 
 
Market reforms will be undertaken, states will be asked to denotify perishables from Essential Commodities Act 
 
Space technology to be used for monitoring MNREGA implementation 
Sanitation coverage in villages has increased from 42 pc in Oct 2016 to 60 pc, a rise of 18 pc, says FM 
 
We propose to provide safe drinking water to 28,000 arsenic and fluoride affected habitations 
 
To construct one crore houses by 2019 for homeless. PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 
 
100 pc electrification of villages to be completed by May 2018 
 
27,000 cr on to be spend on PMGSY; 1 cr houses to be completed by 2017-18 for houseless 
 
PM Kaushal Kendras will be extended to 600 districts; 100 international skill centres to be opened to help people get jobs abroad 
 
The allocation for rural agri and allied sector in 2017-18 is record Rs 1,81,223 crore 
 
In higher education, we will undertake reforms in UGC, give autonomy to colleges and institutions 
 
A system of annual learning outcome in schools to be introduced; innovation fund for secondary education to be set up 
 
Two new AIIMS to be set up Jharkhand and Gujarat 
 
New rules regarding medical devices will be devised to reduce their cost 
 
1.5 lakh health sub centres to be converted to Health Wellness Centres 
 
National Housing Bank will refinance indiviual loans worth Rs 20,000 crore in 2017-18 
 
Rs 500 cr allocated to set up Mahila Shakti Kendras; Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women &amp; child welfare. 
 
Capital and development expenditure pegged at Rs 1.31 lakh cr for railways in 2017-18 from Budget 
 
Allocation for SCs increased from Rs 38,833 cr to Rs 52,393 cr, a rise of 35 per cent 
 
35 pc increase in allocation for SC to Rs 52,393 cr 
 
For senior citizens, Aadhaar based health cards will be issued 
 
Model Shops and Establishment Bill to open up additional opportunities for employment of women 
 
Select airports in tier-II cities to be taken up for operations, development on PPP mode 
 
New metro rail policy to be unveiled 
 
Railway tariffs to be fixed on the basis of cost, social obligation and competition 
 
Service charge on e-tickets booked through IRCTC will be withdrawn 
 
Delhi and Jaipur to have solid waste management plants and five more to be set up later 
 
Government proposes Coach Mitra facility to redress grievances related to rail coaches 
 
500 stations will be differently abled by providing lifts and escalators 
 
Unmanned railway level crossings to be eliminated by 2020 
 
Railway line of 3,500 km will be commissioned in 2017-18 as against 2,800 km in 2016-17 
 
Total allocation for rural, agri and allied sectors for 2017-18 is a record Rs 1,87,223 cr, up 24 per cent from last year 
 
Rs 1 lakh cr corpus for railway safety fund over five years 
 
A scheme for senior citizens to ensure 8 per cent guaranteed returns 
 
Dedicated micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop, More Crop 
 
Digi Gaon will be launched to promote tele-medicine and education 
 
Crude oil strategic reserves to be set up in Odisha and Rajasthan apart from 3 already constructed 
 
Coverage of Fasal Bima Yojana to go up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year 
 
For transport sector, including railways, road and shipping, government provides Rs 2.41 lakh crore 
 
Allocation of Rs 10,000 cr for Bharat Net project for providing high-speed broadband in FY18 
 
Allocation for national highways stepped up to Rs 64,000 cr from Rs 57,676 cr 
 
Budget allocation for highways stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore 
 
Dispute resolution in infrastructure projects in PPP mode will be institutionalised 
 
Rs 2,74,114 crore allocated for defence expenditure, excluding pension; This includes Rs 86,000 crore for defence capital 
 
Govt to further liberalise FDI policy 
 
Over 90 per cent of FDI proposls are now processed through automatic route 
 
FIPB will be abolished 
 
Trade Infrastructure Export Scheme to be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh cr 
 
Second phase of solar power development to be taken up with an aim of generating 20,000 MW 
 
After demonetisation on Nov 8 last year, deposit of between Rs 2 lakh and Rs 80 lakh made in 1.09 cr bank accounts at an average of Rs 5.03 lakh till Dec 30 
 
More funds beyond Rs 10,000 cr for recapitalisation of banks will be provided if needed 
 
The shares of railway CPSCs like IRCTC and IRFC to be listed on various stock exchanges 
 
We are largely a tax non-compliant society 
 
New ETF with diverse stocks will be launched in 2017-18 
 
Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried 
 
Integrated public sector oil major to be created to match global giants 
 
Govt will amend the Multi-state Cooperative Act to protect the poor and gullible investors 
 
Urgent need to protect poor from chit fund schemes, draft bill placed in public domain 
 
Computer emergency response team to be set for cyber security of financial sector

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What you wanted vs. what you got in Budget 2017

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Finance Minister Arun Jaitley makes biggest announcements for Education Sector in India

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