YOUTH Energising through education, skill and job

Youth– Energising through education, skill and job

For Quality education:• To introduce a system of measuring annual learning outcomes in our schools. • Innovation Fund for Secondary Education proposed to encourage local innovation for

ensuring universal access, gender parity and quality improvement• Good quality higher education institutions to have greater administrative and academic

autonomy.• SWAYAM platform, leveraging IT, to be launched with at least 350 online courses. This

would enable students to virtually attend courses taught by the best faculty.• National Testing Agency to be set-up as an autonomous and self- sustained premier

testing organisation to conduct all entrance examinations for higher education institutions.

• Skill Acquisition and Knowledge Awareness for Livelihood Promotion programme (SANKALP) to be launched at a cost of ` 4000 crores. SANKALP will provide market relevant training to 3.5 crore youth.

• Skill India mission was launched to maximise potential. Will set up 100 India International centres across the country that will conduct advanced courses in foreign languages to help youngsters prepare for overseas jobs. 

• Pradhan mantri kaushal Kendra proposal.

• Next phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will also be launched in 2017-18 at a cost of ` 2,200 crores.

For improving youth’s potential:

Contd..

• Special scheme for jobs in textile industry has already been launched. This will be extended to leather industry as well.

• Two new AIIMS will be set up in Jharkhand and Gujarat and will take steps to create 5000 PG seats per annum.

• Incredible India 2.0 Campaign will be launched across the world to promote tourism and employment. Five special tourism zones to be promoted.

Positives:

• Promotes quality education• ICT enable transformation in schools• More emphasis on science education

Hurdle:

• Lack of infrastructure technology

DIGITAL ECONOMYFor speed, accountability and transparency

Why Digital economy…….?

• Promotion of a digital economy is an integral part of Government’sstrategy to clean the system and weed out corruption and black money.

• It has a transformative impact in terms of greater formalisation of theeconomy and mainstreaming of financial savings into the banking system.

• This, in turn, is expected to energise private investment in the countrythrough lower cost of credit.

• India is now on the cusp of a massive digital revolution.

Cont…

• The BHIM app has been launched. It will unleash the power of mobile phones for digital payments and financial inclusion.

• 125 lakh people have adopted the BHIM app so far. The Government will launch two new schemes to promote the usage of BHIM; these are, Referral Bonus Scheme for individuals and a Cashback Scheme for merchants.

• Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly A Mission will be set up with a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards.

Cont…..

• A proposal to mandate all Government receipts through digital means, beyond a prescribed limit, is under consideration.

• Banks have targeted to introduce additional 10 lakh new POS terminals by March 2017. They will be encouraged to introduce 20 lakh Aadhar based POS by September 2017.

• Miniaturised POS card reader for m-POS (other than mobile phones or tablet computers), micro ATM standards version 1.5.1, Finger Print Readers / Scanners and Iris Scanners and on their parts and components for manufacture of such devices to be exempt from BCD, Excise/CV duty and SAD.

Cont…• Proposed to create a Payments Regulatory Board in the Reserve Bank of India by replacing

the existing Board for Regulation and Supervision of Payment and Settlement Systems.• No transaction above INR 3 lakh would be permitted in cash subject to certain exceptions.• The digital payment infrastructure and grievance handling mechanisms shall be strengthened. • The focus would be on rural and semi urban areas through Post Offices, Fair Price Shops and

Banking Correspondents. • Steps would be taken to promote and possibly mandate petrol pumps, fertilizer depots,

municipalities, Block offices, road transport offices, universities, colleges, hospitals and other institutions to have facilities for digital payments, including BHIM App.

• A proposal to mandate all Government receipts through digital means, beyond a prescribed limit, is under consideration.

Promoting Digital Economy

• There is a scheme of presumptive income tax for small and medium tax payers whose turnover is upto 2 crores. At present, 8% of their turnover is counted as presumptive income.

• I propose to make this 6% in respect of turnover which is received by non-cash means. This benefit will be applicable for transactions undertaken in the current year also .

• The Special Investigation Team (SIT) set up by the Government for black money has suggested that no transaction above 3 lakh should be permitted in cash.

• To promote cashless transactions, minister proposed to exempt BCD, Excise/CV duty and SAD on miniaturised POS card reader for m-POS, micro ATM standards version 1.5.1, Finger Print Readers/Scanners and Iris Scanners.

• Simultaneously, they also propose to exempt parts and components for manufacture of such devices, so as to encourage domestic manufacturing of these devices.

Transparency in electoral funding

Transparency in electoral funding

• Need to cleanse the system of political funding in India.• Maximum amount of cash donation is limited to 2000/- from one

person.• Political parties are entitled to receive donations by cheque or digital

modes from their donors.• Every political party would have to file its return within the time

prescribed in accordance with the provision of the Income tax act.

CONCLUSION

Enormous outlays :• Increased capital expenditure by 25%• Rural sector by 24%• Rural housing by 50%• Scheduled caste projects by 35%

Big worries:• Private investment declined by 9%• Private credit declined by 8%• Index of industrial production is declined

Positive aspects of budget

• Fiscal deficit maintained at 3.2% of the GDP.• Tax to be paid for an income bracket of 3 to 5 lakhs is reduced to 5%.• Reduction of taxes for companies with less than 50 crore turnover

from 30% to 25%.• Boosting up for rural economy, digital economy and FMCG sector.• Low cost home constructions.• Holding period for capital gains on property cut• Abolition of FIPB ( Foreign Investment Promotion Board )

Negative aspects of budget

• Lack of encouragement to manufacturing sector.• Poor allocation for scientific research.• NPA’s on public sector banks increased by 12%.• No much emphasis on retainment of rural people, job opportunities.• No real measures to curb anonymous funding of political parties.• No incentives for cashless payments.• Oil seed processors disappointment.• Require a lot to control black money, electoral fundings.

Suggestions

• Providing incentives for cash less payments.• Implementation of RPA { Representation of People Act}• Duty difference between crude and refined oils from 7.5% to 15%.• More allocation required for scientific research.• Balanced budget for all sectors is required.• No clear statistics regarding the money withdrawn through

demonetisation.

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