 Hello everyone, my name is Dr. Anand Kumar Sharma, my rank is 62 in CSE 2018. In this video, we will be discussing about the budget as well as its importance for UPSC. So the budget has direct impact as well as indirect implications for the UPSC exam directly in the sense that last two years the question has been directly coming from the provisions of the budget. For example, the last year there was a long term capital gain standard division text question which was directly from the budget and indirectly you can also look for what are the schemes which has been launched, secondly then what is the data and figures you can utilize from the budget, how much allocation has been done, how much toilets have been built or how much has been given for the infrastructure sector, defense sectors and what are the status of other schemes. So in this manner the budget can be useful and directly as well as indirectly directly for the questions which are directly coming of the major provisions of the budget and on the other side indirectly you can utilize the schemes, the data, figure and facts and the status of the scheme which can be helpful in writing the answers of UPSC. Now we will be moving on to discuss the budget of 2019-20. So this budget was presented with the aim of making Indian economy as a 5 trillion dollar economy. Currently it is going to be a 3 trillion dollar economy in the year and India is the 6th largest economy and the 3rd largest economy in the purchasing power parity. So in order to make this as well as the vision for the decade by the honorable prime minister that is given a 10 points for that, 10 points which are building physical and social infrastructure, digital India, pollution free India, make in India, water water management, blue economy, space program, self-sufficiency, healthy society, team India with Jan Bhagidari. So this is basically the vision set for the decade so that we are able to achieve these targets for the India. So basically this can be helpful for even for your essay writing like suppose there was an essay that dreams which should not let India sleep, these are the points which can help you out that these are the dreams which India should target for or maybe the question can be like that since the vision for the decade has been set, has the budget made appropriate provisions for achieving this vision or what can we do to achieve this vision. So remember these points that what are the vision set and just a gross idea that whatever the vision set for the decade in the budget. Now we will be discussing the key features of the budget. Key features are basically vision for 5 trillion dollar economy by investment. Transforming rural lives, there is a scheme provision for providing a gel, water pipe, water to every household by 2024 and also a gel Shakti ministry also for that. Also reforms in the direct and indirect taxation, focusing on the soft power of the India as well as enhancing the human capital of the country. So we will go step by step, post to investment, infrastructure development, what has been done for the infrastructure development, so we will focus on the different aspect that is road, air, shipping and rail. So for the rate Bharat Mala phase 2 program has been launched, state road networks will also be developed. For the aviation sector India is already having a schemes like Odan, so for that that will be further 100 airports will be operational already and third largest domestic market they are planning to make. For the shipping and inland there is a project Gel Vikas Mark project and Sagar Mala project, so that improved the allocation has been increased and this aims to improve the logistics and reduce the transportation cost. Similarly, for the railways they are focusing on the public-private partnership model and also the regional transport model based on like rapid transit-oriented development they are focusing on, transit-oriented development is development across the public transport that is the metros, so development nearby that area, so that has been given the focus on, so they have been trying to improve that also. Similarly, they have also mentioned about the housing scheme, so there is a data given now that what has the house sanctioned for Pradhan Mantri Ava Sioja Arban as well also the rural for all this this is given. So they have mentioned about is the they were sanctioned houses of under Pradhan Mantri Ava Sioja were 81 lakh, construction started for 47 lakh, completed 26 lakh and delivered at 24 lakh. So you can also remember some of the data from here, what is the status of this scheme. Also they are planning to have a model tenancy law, so for have a tenancy or a rent agreement and proper tenancy laws should be there to have a better system of tenancy, so that they are also trying to covering that. Then for the industrial development the various measures have been taken, interest submission scheme for MSMEs, payment platform for bill, then there is a concept of social stock exchange for the voluntary organization and the social organization, so that they can raise money from the market, which will help them to increase their capital and they are able to increase money from that. So that has been built in this budget, which will help the social organization and the voluntary organization to raise fund for them. Then for the make in India there is a changes in the custom duties made which we will discussing about it. Also for start-ups they have to use a channel dedicated channel for start-ups, which will guide you how to go for the start-ups, what measures you can take, what are the provisions or how the government can help you out, how the permissions are going to be taken, this will help. And also e-verification for establishing an investor identity and source of fund, so in order to have a better tax compliance measures and less dispute when it comes to the tax related matters. So e-verification in the introduction of technology is being there in order to enhance the ease of business and also improve the start-up culture in the country. Also now since we had one of the vision as a pollution free India, so the first has been given to the electric vehicles also. Fame scheme, fast two has been commenced, phase two has been commenced, custom duty exemption of certain e-vehicle part as well as income tax deduction on interest of the loans taken for the e-vehicles. So these are the provisions which is there to incentivize people to have electric vehicles. So this can be written in the answers that what are the measures government taken in the budget to introduce the promotion of the electric vehicles. So now we are going moving towards the tax proposals, since we talked about that major thrust is also on the direct tax and the indirect tax reforms in order to make it easier for the citizens and the taxpayers. The first thing is a major reform, a shift is they are trying to introduce a faceless e-assessment. Faceless e-assessment is electronic assessment where is there will be no human interface to be launched this year, which means the chances of corruption, the chances of harassment will be less and there will be less human interaction and better compliance for the taxpayers and also ease of compliance for the taxpayers. And they also highlighted that since the tax reforms have been made, there have been a 78% increase in the direct flow in the tax collections from 6.4 lakh crores in 2013-14 to 11.4 lakh crores in 2018-19. Also for announcing ease of taxpayer, they are going to make Aadhaar and the Pankat be interchangeable, so which will have a ease of identification and also less requirement of the documentations. Other reform includes for the corporate tax, threshold for applicability of lower corporate tax of 25% has been increased from 250 crores to 400 crores. So this will also increase the reduced tax burden on the corporate companies, interest direction up to 3.5 lakh for purchase of an affordable house is also being there. Measures for NBFCs has also been introduced, okay. Plus now they are also planning to introduce a TDS of 2% on cash withdrawal exceeding 1 crore in a year from bank account to promote the less cash economy which has been focused on the honourable prime minister of a digital economy as well as a less cash economy. Also to promote DGS, their digital cash system, they are also planning to have no charges on merchant discount rate on the digital transactions, so that the charges which has been taken for the digital transactions that will not be there and the compliance as well as ease of digital transaction will increase. Then there is a Sapka Vishwas Legacy Dispute Resolution Scheme proposed for a quick closure of service tax and excise related litigations. Basically here they are trying to make it that the litigation system is being much more effective and also less time is taken for the dispute resolution. Now they also highlighted that the idea they have been highlighting and had they have been focusing that is reform, performance, transform have succeeded and for that they have taken measures. Measures in the sense banking reforms, insolvency and banking code has been introduced, GST has been introduced. So for that they have called it highlighted that record recovery of 4 lakh crore in last 4 years due to IBC. Recapitalization of bank by 70,000 crores. Also provision coverage ratio of banks highest in 17 years. So basically the IBC and other reforms, the recovery of the loans and the reduction of NPA is being done and that is what they highlighted. Similarly for GST, they have reduced some reforms that is taxpayers having annual turnover of less than 5 crore can now file quarterly returns. So this will reduce the burden of filing returns frequently, which will enhance the compliance, will make ease of return filing very easy. Fully automated GST refund module shall be implemented and electronic invoice system will be there in order to eliminate a need for separate e-way bills. So this is how they are taking reforms are being made to improve the ease of doing business and reduce the cost of compliance for the customers and the taxpayers. They were highlighting how the search barred mission has been a success that more than 95% cities and say 5.6 lakh villages have been declared ODF. These data you can utilize. Since the question has no direct significance but for the indirect significance the data for anything on the search barred mission or that you can utilize and you can write it in your answers. Now the another theme that is transforming rural India. So they will be highlighting that what the various schemes of the rural India like Pradhan Mantri Gram Shraddha Kiyojana, Pradhan Mantri Avas Yojna Gramed, Pradhan Mantri Ujjwala Yojna, Sobhagya Yojna and Mandrega. How what we have achieved and what are the outlays for this year? Like for example, there is a 22.6% jump in the Pradhan Mantri Gramed Shraddha Kiyojna from 15,500 crore to 19,000 crores. Similarly Pradhan Mantri Avas Yojna Gramed's second phase has been launched where 1.95 crore houses will be built up. And in the earlier phase 1.5 crore rural homes were completed. And also the target of the Pradhan Mantri Gram Shraddha Yojna has been shifted from 2022 to 2019. 97% of the targeted habitation have been covered and 30,000 kilometer built using green technology. Similarly for the rural electrification they say is that 100% households have been electrified. 35 crore LED walls were distributed under the Ujjala scheme which benefited to the annual cost saving of 18,341 crores by reducing the consumption of electricity. For Mandrega, there have been a 9% jump in the outlays given in this budget from 55,000 crore to 60,000 crore has been allocated for the Mandrega. For the farmer welfare and water security, they have introduced some new measures. Boost to agro-rural industry through cluster-based development under Frutti scheme. So this scheme will promote this cluster-based development with focus on bamboo, honey and khadi clusters. 100 new clusters to be built and also 100 business incubators to be set up to enable entrepreneurs under the Aspire scheme. So basically the existing schemes of Frutti and Aspire for promotion of the MSME, they have been given a renewed focus on that so that a cluster-based development of agriculture industries can be done. Also Pradhan Mantri Matasya Sampada Yojna already was there. Further this fisheries department will do the holistic and robust management or development of the fisheries sector in order to have an alternative employment as well as source of livelihood for the people and increase the doubling the income of the farmers. Then there have been the constitution of Jalsakti ministry. This will promote the Jalsakti Abhiyan and also Harghar Jal to all rural households by 2024 under Jal G1 mission. So basically they are trying to have is a water supply to all the rural households by 2024. So this will be done through a various aspect and focus on integrated demand and supply management at local level, creation of local infrastructure for rainwater harvesting, ground water recharge and household waste water management. This will have an integrated approach. So in order to raise the water table, supply water to the households. Now also they have been focusing on women's development to women-led development. That is 70% of the beneficiaries under the Mudra schemes are women. Allocations for the ICDS has been increased from 20,357 crore to 27,584 crores. More than 7 crore connections has been given under the Ujjala Yojana and 8 crore free LPG connection to be given furthermore. Also to expand women SHG interest subvention program to all districts in one lakh loan under Mudra scheme for one woman and every SHG has to be given. Now there is an increased focus on the labor and the youth welfare. For that the provisions have been given in the scheme that Pradhan Mantri laghu vyapari mandhan Yojana. So this is to give pension benefits to around 3 crore retail traders and small shopkeeper with annual turnover less than 1.5 crores. So there's a pension scheme for the small traders and the retail shopkeepers. Also Pradhan Mantri Sram Yogi Mandhan around 30 lakh workers have joined the scheme already in that. And also there has been a rationalization of the labor courts into four courts in order to have a better labor laws in the country. Also for promoting research and creativity in the nation and developing a culture of innovation a national research foundation to be established to fund, coordinate and promote R&D. Along with that 400 crore have been provided for the world class institutions for financial year 2019-20. Study in India program to bring foreign students to higher educational institutions. Also they have been formed a national sports education board to be set up under Kello India to prepare youth for new skill like artificial intelligence, IoT, big data, 3D printing, virtual reality, etc. So as to have a youth to utilize the technology and also the skill upgradation of the youth of the nation. So basically first we'll just summarize the key aspects also vision for 5 billion dollar economy by the investment, transforming rural lives, new Jalsakti Mantral enhance ease of direct and indirect taxation, strengthening connectivity infrastructure. Also they are planned to launch a Gandhipedia to sensitize society where all the teachings and the collections of father of nation Mahatma Gandhi will be there in order to make people aware about his teaching and also create sensitivity among the people in the society. They are also trying to focus on India's soft power and the space power. How to utilize the power and the space power. So on this line Pradhan Mantri Karam Yogi Mahandhan Yojna enhance interest deduction of affordable housing, tax benefit for corporate tax players, vision to become 5 billion dollar economy, Pradhan Mantri Mathas Sampada Yojna, scheme of faceless electronic tax assessment, Adhar and talent to be interchangeable, reforms in GST, Mudra, Ujjala and Swabhagya. These were the key areas where the budget have given a focus in order to have investment as well as economy in order to make it a 5 trillion dollar economy. You will also have some more discussions on other highlights like some data which you can utilize. For example, that if a one rupee is coming to the government, how does that come? So 21% from corporate tax, 16% from income tax, 19% GST, 4% customs, 9% non-tax revenue. So this is how the data analysis of given can how do we, the money comes from and for what the rupee goes to. Subsidies 8%, defense is 9%, 23% state share and taxes and duties, 13% central sector scheme. So this data you can utilize for your answer writing so that you can have a better understanding. So in this way, we highlighted the key aspects of the budget. We'll have a general discussion also that how the what other proposals of the budget is there. So basically to make it a 5 trillion dollar economy, their focus have been more on the infrastructure part. So they have highlighted what they are proposing it. That rapid regional transport, that is the Delhi-Mirat expressway in order to promote that, metros in other cities as well as transit area development that has been the focus for the rate and role and also the Jalvikasmar project and development of waterways under the Sagarmala project and the ports have been there to give a boost to the infrastructure which will eventually give a boost to the economy. There is also a proposal to have a national common mobility card. Basically this will enable people to pay multiple kinds of transport charges including metro toll tax across the card and that will be a repay-based card. So interoperable card across the country and across the transport sector that is maybe a role, airway or a waterway, a national common mobility card has been introduced in this scheme. Then phase two of FAM2 scheme has been launched. Then they are focusing on that the Ujjal Discom Assurance Yojana, Uday scheme for the electricity sectors. So in this is they have been working to revive the discoms and that way another phase of Ujjal Discom Assurance Yojana has been introduced to give a boost to the power sector. The MSME provisions we have already done the Pradhan Mantri Yogi, Mandan Yojana Entrance Subvention Scheme, Credit Guarantee Scheme that has already been done. Then for the youth and the education sector, then national they have introduced I told you National Research Foundation Scheme that is to promote R&D for the people. Startup channel for the entrepreneurs has already been introduced and also a national sports education board for the Kelo India Scheme has been developed to promote to give a youth oriented development. Jalchakti Ministry we have already discussed about it. Then Naritu Narayini Women that is discussed about the women development to women led led development. 70% beneficiaries under Mudra are women. One woman for one SHG has already been introduced for the people and also they also highlighted how that we have been. We also have a record 78 women MPs this year. So that is the record highest women MPs. So you can utilize the data for that purpose. Then they are also highlighting how the India soft power has changed. International yoga is being done. Then Vaishnav Janthu Kenaikahi there was a song which was sung by 40 countries for the people. In order to enhance the soft power of the country. Then they are highlighting about the diplomatic efforts they have introduced in other countries and also focus on the Gandhi Pedia and study in India program in order to increase the soft power of the country. So the Gandhi Pedia this concept of behavioral economics has been mentioned on the economic survey also that how the teachings of the Mahatma Gandhi can be used for changing the behavior of the people for example in the Swachh Bharat mission or maybe a citizen centric governance or maybe introducing the civics and some of the people which will help them to bring a change in reform in the thought process of the people. So in this manner we discussed that how the budget can be utilized for the UPSC preparation directly and indirectly and also the key aspects of the budget. So this budget has been more of rather than bringing a new schemes or the programs have focused on more consolidating the older schemes and the programs increasing allocation for them and giving a thirst to the already existing schemes so as to make the country a five billion dollar economy in the future with a vision for the decade which is given by the Honourable Finance Minister and the Prime Minister to make India strong on the various fronts. Thank you everyone. Subscribe to our channel and click on the bell icon to get latest updates on upcoming videos.