IMPORTANT ARTICLES OF YOJANA MARCH SPECIAL ISSUE

1. Impact on Growth, Emply, Welfare

Short & long term goals, role of central, state, Dept. and PSU, Private sector;
For Empl- National Skill Mission, SETU & MUDRA
For Welfare- PMJDY, PMSBY, PMJJBY, PMVLK, NIIF, Digital India

2. A Growth-Oriented budget

Crucial issues- Oil price decline, 14th FCC, Revised GDP

Concern about quality of fiscal adjustment; reduce the revenue deficit;
For Reviving Growth
o Ease of doing business
o Reduce of Corporate tax
o Abolish Wealth tax
o Increase in Service tax
o GARR defers
o Increase in exemption limit on PF, allowing infra bonds, hike in health insurance and
pension scheme limit
Social sector
o Decline in funds for SSA, PMGSY, IAY, Mid-day meal etc. but increase can be see via 14th
FCC
o Use of JAM to improve the public delivery mechanism
Private sector constraint- Declining rural demand & bad corporate balance sheets
Black money- discourage cash transaction, use of cards
Gold- Gold monetization scheme, gold coins with printed Ashok chakra
Digital India-NOFN, e-network
Renewable energy- Solar, wind, biomass, small hydro

3. True to the spirit of Federalism (14th FCC Rec. )

Issues of C-S Financial relation

o Multiple channels of transfer
o Methodological weakness
o Too much reliance on the gap-filling approach
o Multiplicity of objective failing to focus on the main objective of reducing disparities
Suggest measures
o Raise tax ratios for Center and States (increase tax-GDP ratio)
o Towards fiscal autonomy
o Improve performance of PSU
o Address the rising trend of wideing inequality in govt. spending across states
o Tackles challenges in ecology, environment and change

Vertical devolution
o Increase in the share of tax devolution
o Expansion of divisible pool by including non-sharable CESS
o Ensuring minimum guaranteed tax devolution and reduced role of CSS.
Horizontal
o Focus on population, income or fiscal capacity, area, environment and ecology and
socio-economic
Negative
o CSS specific to social-economic progr. Would get reduced funding or close
o Not clear about immediate compensate for withdrawal of central govt. in these scheme
o No hand like PC for use of money
Conclusion
o New institutional arrangement consistent with the overreaching objectives and
strengthening cooperative federalism

4. Transforming India into a Global hub

Its all about Make in India 25 sector core ideas can be used as future work if remembered.
Make in India- Budget 2015-16

5. Analysing Economic Health ( Eco Survey Overview)

JAM trinity has the potential not only to alleviate distress but also to improve productivity.
Stalled projects, double financial repression banks, NPA issue

6. Rail Budget

Summary basically
Noval feature is hike in electrification proposal & its ill effects
4 objectives
o Deleivering a sustained and measurable improvement in customer experience
o Safer means of travel
o Augumenting capacity of the system substantially to modernize infra
o Annual freight

7. National Skill Development Program

DDUGKY, MUDRA, PMMY

Financial support needs to be provided for 4 kinds of activities in skill development
o Segment that do not have the ability to pay for skill training, grant-based schemes have
to be introduced and continued
o Advancement and popularization of different elements of skill training such as advocacy,
certification and assessments
o Initial support to create sustainable models of skill development

o Create a fund for providing skill loan to trainees

NRLM, New National Skill development Policy, National Skills Mission
Three pillars to a better Indian economy
o Meaningful education system
o Robust skill development setup
o Active involvement of businesses in mentoring the workforce

8. Processes and Procedure- Just revision in a broad way along with Role of ES and Agenda for reforms
9. Union Budget Thrusts- All the important schemes mentioned under each head

Encouraging Entrepreneurship
o MUDRA, AIM, SETU
Social Security
o PMSMY, APY, PMJJBY, SCWF, PDDLD, Nai Manzil
Infra
o NIIF, Tax free infra bonds
Skill development
o NSM, DDUGKY, IT based SFAA, PMLK
Monetizing Gold
o Gold Monetization Scheme, Sovereign Gold Bonds, Indian Gold Coin
Black money measure
o Comprehensive law
Swach Bharat & JAM

10. Shifting Accountability- Mainly a gender sensitivity aspects, exclusive scheme for women,
11. Education Resources & Provisions- Mainly all repetition with little bit highlights from Budget.
12. Addressing Agricultural Issue (A DOUBT, they have mentioned on page 54, 2nd para, that NFSM has
oilseeds too, is it right or I have not updated myself)

About RIDF, RKVY, PMKSY, Soil health cards

Talk about National Agriculture market (Can be this year in Mains)
Concerns areas areo Food processing
o Agro exports
o Crop insurance
o Cold chain and warehouses

13. Social Dimension

Jan dhan, Swach Bharat & Make in India

Agriculture

o Soil health card scheme

o PKVY, PMGSY
o Creation of Unified National Agriculture Market
Promoting Entrepreneurship
o PMMY, MUDRA, Electronic Trade Receivable Discounting System, Bankruptcy Code
o PMJDY, SETU
Social Security
o PMSBY, APY, PMJJBY, SCWF, Nai Manzil
Infra- NIIF, AIM
Financial Markets- FRA, IFC
Taxation- Service tax, GST, changes in EPF, ESI and NPS
PMVLK, NSM

14. Environment Federalism- Mining, MMDR Ordinance, Carbon Tax, Royalty Regime, Forest Cover in
14th FCC
15. Taxation and Fiscal Policy Space in India- Comparison and opportunity
16. Revenue & Fiscal Deficit- Basic concepts clarity about RD, FD; Nexus between the two (Important)
17. Microbiome (Important)
18. Opening up Insurance to more Foreign Equity (Just a read, rest look for Insurance Bill)- SBS, JJBY
19. GST (a discussion )
20. Vision of Clean India (Swach bharat Mission)