The document gives highlights from key sectors – agriculture and rural development, banking, financial services and insurance, defence and aviation, e-commerce and retail, energy, FMCG, food & beverages, infrastructure and housing, manufacturing, railways, social welfare, steel and mining, and technology IT & telecom.

1. Sector highlights
eCommerce & Retail
Agriculture & Rural Development
Energy
FMCG, Food & Beverage
Defence & Aviation
Financial Services
Infrastructure & Housing
Steel & Mining
Manufacturing
Railways
Social welfare, health & education
Technology, IT & Telecommunications

2. eCommerce & Retail
• Foreign Investment Promotion Board
(FIPB) will be abolished in 2017 and a
new framework will be created for
further liberalization of FDI Policy in
coming days. Foreign companies keen
to invest in India will not have to wait
for FIPB’s approval
• Model Shops and Establishment Bill to
open up additional opportunities for
employment of women
• Government will launch two new
schemes to promote BHIM usage:
Referral Bonus Scheme for individuals
and a Cashback Scheme for
merchants. 1.25 crore people are
already using the BHIM App
• Tax rate for companies with an annual
turnover up to INR 50 crores to be
reduced to 25% to strengthen MSME
sector. This will benefit 96% of Indian
companies
• Firms incorporated after 31 March
2016 can now avail a three-year tax
holiday in their first seven years only if
they make profits. This rebate could
earlier be availed in the first five years
• For the purpose of carrying forward
losses for start-ups, the condition of
continuous holding of 51% of voting
rights has been relaxed, subject to the
condition that original
promoter/promoters continue their
share holding
• Start-up companies can carry forward
Minimum Alternate Tax to 15 years
from the present period of five years
• Cash transactions above INR 3 lakh
shall not be permitted from April 1,
2017
• SIDBI to refinance credit companies
for disbursement of small loans
• Merchant version of Aadhaar-enabled
payment system, Aadhar Pay, to give a
boost to digital inclusion
• Exemption of multiple indirect taxes,
like Basic Customs Duty, on items like
Point of Sale machines, fingerprint &
iris scanners, etc, to push digital
ecosystem for startups
• Bill to remove difficulties and
impediments to ease of doing
business to be introduced. Bill will be
introduced as an amendment to the
Companies Act, 2013, and is expected
to improve the enabling environment
for start-ups. Registration of
companies to be completed in one
day
• GST council has finalized its
recommendations. Implementation of
GST likely to bring more taxes to
Centre and States
2

3. Agriculture & Rural Development
• INR 1,87,223 crores allocation for
Rural, Agriculture and Allied sectors
Agriculture
• Target for agricultural credit in 2017-
18 fixed at record level of INR 10 Lakh
Crores
• Farmers will also benefit from 60 days’
interest waiver announced on
December 31, 2016
• To ensure flow of credit to small
farmers, Government to support
NABARD with computerisation and
integration of all 63,000 functional
Primary Agriculture Credit Societies
with the Core Banking System of
District Central Cooperative Banks.
This will be done in 3 years at an
estimated cost of INR 1,900 Crores
• Budget provision of INR 9000 Crores
for increasing coverage under Fasal
Bima Yojana from 30% of cropped
area in 2016-17 to 40% in 2017-18
and 50% in 2018-19
• INR 9000 crores allocated to set up
new mini labs in Krishi Vigyan Kendras
(KVKs) and ensure 100% coverage of
all 648 KVKs in the country for soil
sample testing
• Long Term Irrigation Fund already set
up in NABARD to be augmented by
100% to increase total corpus of this
fund to INR 40,000 crores
• INR 3,500 crores allocated to Price
Stabilisation Fund for pulses
• Dedicated Micro Irrigation Fund in
NABARD to achieve, ‘per drop, more
crop,’ with an initial corpus of INR
5,000 crores
• Assistance up to INR 75 lakh to be
provided to every National
Agricultural Market (e-NAM), with
number of e-NAMs to be expanded
from 250 markets to 585 APMCs
• Model law on contract farming to be
prepared and circulated among States
for adoption
• Dairy Processing and Infrastructure
Development Fund to be set up in
NABARD with a corpus of INR 2000
crores, to be increased to INR 8000
Crores over 3 years
Rural Development
• Over INR 3 lakh crores spent for rural
poor every year from Central Budget,
State Budgets, Bank linkage for self-
help groups, etc
• Aim to bring one crore households
out of poverty, and to make 50,000
Gram Panchayats poverty free by
2019
• Against target of 5 lakh farm ponds
under MGNREGA, 10 lakh farm ponds
to be completed by March 2017.
During 2017-18, another 5 lakh farm
ponds will be taken up
• Women participation in MGNREGA
increased to 55% from less than 48%
• MGNREGA allocation to be the
highest ever at INR 48,000 Crores in
2017-18
3

4. Agriculture & Rural Development
• Pace of construction of PMGSY roads
accelerated to 133 km roads per day
in 2016-17, against average of 73 km
during 2011-2014
• Government to connect habitations
with more than 100 persons in left-
wing extremism-affected blocks with
PMGSY. All such habitations expected
to be covered by 2019 and the
allocation for PMGSY, including the
State's Share is ₹27,000 Crores in
2017-18
• Allocation for Pradhan Mantri Gramin
Awaas Yojana increased from INR
15,000 Crores in BE 2016-17 to INR
23,000 Crores in 2017-18, with a
target to complete 1 crore pucca
houses by 2019 for the houseless and
those living in kutcha houses
• Efforts to achieve 100% village
electrification by May 2018 ongoing
• Allocation for Prime Minister's
Employment Generation Program and
Credit Support Schemes increased
three-fold
• Sanitation coverage in rural India
increased from 42% in October 2014
to about 60% in 2016. Open
Defecation Free villages being given
priority for piped water supply
• As part of a sub mission of the
National Rural Drinking Water
Programme (NRDWP), over 28,000
arsenic and fluoride affected
habitations to be provided safe
drinking water to in next four years
• For imparting new skills to people in
rural areas, mason training will be
provided to 5 lakh persons by 2022
• Programme of, “human resource
reforms for results,” to be launched
for human resource development in
Panchayati Raj Institutions
• Steps could be taken to promote and
possibly mandate petrol pumps,
fertilizer depots, municipalities, Block
offices, road transport offices,
universities, colleges, hospitals and
other institutions to maintain facilities
for digital payments, including BHIM
App
• Allocations for Deendayal Antyodaya
Yojana- National Rural Livelihood
Mission for promotion of skill
development and livelihood
opportunities for people in rural areas
to be increased to INR 4,500 crores
• By end of 2017-18, high speed
broadband connectivity on optic
fibres will be available in more than
1,50,000 gram panchayats
• Mahila Shakti Kendra at village level
for rural women empowerment to be
initiated
• 'DigiGaon' initiative to be launched to
provide telemedicine, education and
skills through digital technology
4

5. Energy
• 100% village electrification to be achieved by May 2018
• Basic customs duty on LNG to be reduced from 5% to 2.5%
• Target 20,000 MW in next phase of solar capacity addition
• Allocation of Rs 4,814 crore for Deen Dayal Upadhyayal Gram Jyoti Yojana to
strengthen sub-transmission & distribution infrastructure. Allocation will focus on
infrastructure development for rural feeder separation, including metering at all
levels
• Planned set-up of an additional two strategic crude oil reserves in Chandikhole in
Odhisha and Bikaner in Rajasthan, taking the country's strategic oil reserve capacity
to 15.33 million tonne
• Proposed establishment of an integrated public sector, ‘oil major,’ which will be
able to match the performance of international and domestic private sector oil and
gas companies
• Solar power to feed 7,000 railway stations
5

6. FMCG, Food & Beverage
• Allocation to rural India schemes
increased by 24% to INR 1.87 lakh
crore to provide impetus to growth of
rural consumer base
• To make India a global hub for
electronics manufacturers, INR 745
crore allocated to Modified Special
Incentive Package Scheme (M-SIPS)
and Electronic Development Fund
(EDF)
• 100% Foreign Direct Investment (FDI)
to be allowed under Government
approval route in trading of food
products manufactured and/or
produced in India. FDI was earlier
allowed through Foreign Investment
Promotion Board (FIPB) route
• Abolition of Foreign Investment
Promotion Board (FIPB)
• No major changes in excise and
service tax rates ahead of the Goods
and Service Tax (GST)
• Over 16,000 new enterprises have
come up through Stand Up India
scheme in activities as diverse as food
processing, garments, diagnostic
centres, etc
• Referral bonus to be given to users
and cash back to traders for
promotion of BHIM App
• Special scheme launched to create
employment in textile, similar scheme
to be launched in apparel and leather
sectors
• New rules to be introduced for
development of medical devices
• Minimum Alternate Tax (MAT) being
carried forward for 15 years instead of
10 years
• Modern law on contract farming will
be drafted and circulated to states to
integrate farmers with agro
processing units
• Market reforms will be undertaken,
states will be asked to denotify
perishables from Essential
Commodities Act
• No cash transactions above INR 3 lakh
to be allowed
• Increase in customs duty for roasted,
salted or roasted and salted cashew
nuts increased from 30% to 45%
• Basic Customs Duty (BCD) on RO
membrane element for household
type filters raised to 10% from 7.5%
• BCD on Nylon mono filament yarn for
use in monofilament long line system
for Tuna fishing decreased to 5% from
7.5%
• BCD on vegetable tanning extracts,
namely, Wattle extract and Myrobalan
fruit extract cut to 2.5% from 7.5%
• Excise duty of Membrane Sheet and
Tricot/Spacer for use in manufacture
of RO membrane element for
household type filters cut to 6% from
12.5%
6

7. FMCG, Food & Beverage
• De-minimise customs duties
exemption limit for goods imported
through parcels, packets and letters
from duty payable not exceeding INR
100 per consignment to CIF value not
exceeding INR 1000 per consignment
• Limit of duty-free import of eligible
items for manufacture of leather
footwear or synthetic footwear or
other leather products for use in the
manufacture of said goods for export
raised to 5% of FOB value of said
goods exported during the preceding
financial year from 3%
• BCD, Countervailing Duty (CVD),
Special Additional Duty (SAD) and
excise duty to be exempted on
Miniaturized POS card reader for m-
POS (not including mobile phones or
tablet computer), Micro ATM as per
standards version 1.5.1, Finger Print
Reader / Scanner, and Iris Scanner and
its parts and components for
manufacture
• SAD on populated printed circuit
boards [PCBs] for use in manufacture
of mobile phones increased from nil
to 2%
• BCD and CVD of all parts for use in
manufacture of LED lights or fixtures,
including LED lamps rationalised to 5%
and 6% respectively
• Excise duty on all parts for use in
manufacture of LED lights/fixtures,
including LED lamps rationalised to 6%
7

8. Defence & Aviation
Defence
• 10% increase to INR 2,74,114 crore for allocation towards defence expenditure,
excluding pensions; this allocation also includes INR 86,488 crore towards defence
capital acquisition
• Central Defence Travel System developed to enable defence personnel to book
travel tickets online
• Comprehensive web-based interactive Pension Disbursement System for Defence
Pensioners to be established; this system will receive pension proposals and make
payments centrally and seeks to reduce the grievances of defence pensioners
Aviation
• Select airports in tier-II cities to be taken up for operation and maintenance on
Public-Private-Partnership (PPP) mode
• Amendment of the Airport Authority Act to allow monetisation of land assets. The
resources, so raised, will be utilised towards airport upgradation
• Airline operators providing passenger services to or from airports covered by
Promotion of Regional Connectivity Scheme (RCS) of Ministry of Civil Aviation
exempt from service tax. Exemption valid for a period of one year from the date of
commencement of operations of the RCS airport, as notified by Ministry of Civil
Aviation
8

9. Financial Services
• INR 10,000 crores allocated for re-
capitalization of banks
• Banks to introduce additional 10 lakh
Point-of-Sale (POS) devices by March
2017
• Banks encouraged to introduce 20
lakh Aadhar-based PoS by September
2017
• Increase allowable provision for Non-
Performing Asset from 7.5% to 8.5%
• Target for agricultural credit in 2017-
18 fixed at a record level of INR 10
lakh crores
• Coverage of Fasal Bima Yojana to be
increased from 30% of cropped area
in 2016-17 to 40% in 2017-18 and
50% in 2018-19. INR 9,000 crores
proposed for the scheme in 2017-18
• Lending target of INR 2.44 lakh crores
under Pradhan Mantri Mudra Yojana
• INR 3.96 lakh crores allocated for
infrastructure
• Affordable housing to be given
infrastructure status
• National Housing Bank to refinance
individual loans worth INR 20,000
crores in 2017-18
• Foreign Investment Promotion Board
to be abolished
• Extend concessional lending scheme
and masala bonds to June 30, 2020
• Holding period for long-term capital
gains for immobile assets reduced
from 3 years to 2 years
• Computer emergency response team
to be set up for financial sector (CERT-
Fin)
• No cash transactions over INR 3 lakh
to be permitted
• Mission to target 2,500 crores digital
transactions for 2017-18 through UPI,
USSD, Aadhar Pay, IMPS and debit
cards
• Capital expenditure up 25.4% over
previous year
• Abolition of Plan-Non Plan
classification of expenditure, focus on
Revenue and Capital expenditure
• Expert committee will be constituted
to study and promote creation of an
operational and legal framework to
integrate spot market and derivatives
market for commodities trading. e –
NAM to be an integral part of the
framework
• Registration of financial market
intermediaries to be made fully online
by SEBI
• Government to put in place revised
mechanism to ensure time bound
listing of identified CPSEs on stock
exchanges
• Shares of Railway PSEs like IRCTC, IRFC
and IRCON to be listed on stock
exchanges
9

10. Financial Services
• Government to launch Referral Bonus
Scheme for individuals and a
Cashback Scheme for merchants to
promote usage of BHIM
• Total resources to be transferred to
states & UTs estimated at INR 4.11
lakh Crores
• Net government borrowing limited to
INR 3.48 lakh crores
• Direct tax proposals to result in
revenue loss of INR 22,700 crores but
after counting for revenue gain of INR
2,700 crores, the net revenue loss in
direct tax would come to INR 20,000
crores
• No significant loss or gain in indirect
tax proposals
• Revenue deficit reduced to 2.1 % in
revised estimates
• Listing and trading of Security
Receipts issued by a securitisation
company or a reconstruction company
under the SARFAESI Act permitted in
SEBI registered stock exchanges
• New Exchange-Traded Fund with
diversified Central Public Sector
Enterprise CPSE stocks and other
Government holdings will be
launched in 2017-18
• Payments Regulatory Board to replace
Board for Regulation and Supervision
of Payment and Settlement Systems
• Negotiable Instruments Act, to be
amended
• More than 17% growth in tax
collection for the second year in a row
• GST is likely to bring more taxes both
to Central and State Governments
because of widening of tax net
10

11. Infrastructure & Housing
• Total allocation for infrastructure
development INR 3,96,135 crores
• Provision of INR 2,41,387 crores for
transportation sector including rail,
roads and shipping
• ‘Trade Infrastructure for Export
Scheme’ (TIES) to be launched in
2017-18 with a focus on export
infrastructure
• Amendment to the Arbitration and
Conciliation Act 1996 to include
mechanism to streamline institutional
arrangements for resolution of
disputes in infrastructure related
construction contracts, Public Private
Partnership and public utility
contracts
• Listing of identified Central Public
Sector Enterprises on stock
exchanges. Shares of Railway PSEs like
IRCTC, IRFC and IRCON to be listed
Roads and Highways
• INR 64,900 crores allocated for
highways
• INR 27,000 crores allocated under
Pradhan Mantri Gram Sadak Yojna
• 2,000 kilometers of coastal
connectivity roads identified for
construction and development to
facilitate better connectivity with
ports and remote villages
Airports
• Select airports in Tier 2 cities to be
taken up for operation and
maintenance in PPP mode
Housing
• INR 23,000 allocation under Pradhan
Mantri Gramin Awaas Yojana, target
to complete 1 crore houses by 2019
• Infrastructure status accorded to
affordable housing
• National Housing Bank to refinance
individual housing loans of about INR
20,000 crore
• To promote affordable housing, carpet
area, instead of built up area, of 30
and 60 sq. m. will be considered
under scheme for profit-linked income
tax deduction
• Limit of 30 Sq. m. limit to be applied
only for municipal limits of 4
metropolitan cities. 60 Sq. m. to be
applied for the rest of the country,
metro peripheries
• For builders for whom constructed
buildings are stock-in-trade, tax on
notional rental income to be applied
after one year of the end of the year
in which completion certificate is
received
• Holding period for computing long
term capital gains due to transfer of
immovable property to be reduced
from 3 years to 2 years
• Liability to pay capital gains tax to
arise in the year a project being
developed through a Joint
Development Agreement is
completed
11

12. Steel and Mining
Increased push to infrastructure
development will result in demand for
the steel sector
• Budgetary allocation for Pradhan
Mantri Gramin Awaas Yojana
increased from INR 15,000 crores to
INR 23,000 crore with 1 crore houses
to be completed by 2019
• The government will commission
3,500 km of railway lines in FY18
• Budget allocation for infrastructure
for FY18 stands at INR 3,96,135 crore
with INR 64,900 crores allocated to
National Highways
• New Metro Rail Policy will be
announced with focus on innovative
models of implementation & financing
Reforms in transport solutions to address
the challenges faced by the steel &
mining sector
• Railways will implement end-to-end
integrated transport solutions for
select commodities
• Specific programme for development
of multi-modal logistics parks,
together with multi modal transport
facilities to be drafted and
implemented
Corporate taxation and labour reforms to
positively impact the sector:
• For MSME companies with annual
turnover of up to INR 50 crore,
corporate tax rate has been slashed to
25% from 30%
• Legislative reforms will be undertaken
to simplify, rationalise and
amalgamate the existing labour laws
12

13. Manufacturing
Focused initiatives for skill development
• Pradhan Mantri Kaushal Kendras to be
extended to 600 districts, 100 India
International Skills Centres to be
established
• INR 4000 crores allocated to provide
at least 3.5 crore youth market
relevant training under Sankalp
Programme
• Target training 500,000 persons in
rural areas in masonry by 2022
• INR 2,200 crores allocated for next
phase of Skill Strengthening for
Industrial Value Enhancement
(STRIVE), to be launched in 2017-18
Incentives and schemes to boost the
Manufacturing sector
• MAT credit allowed to be carried
forward up to a period of 15 years,
instead of the present 10 years
• Tax rate for companies with an annual
turnover up to INR 50 crores to be
reduced to 25%, from the current
30%, to strengthen MSME sector
• New and restructured Central scheme
focusing on export infrastructure,
Trade Infrastructure for Export
Scheme (TIES), to be launched in
2017-18
• Scheme for creating employment in
the leather and footwear industries,
similar to existing scheme for textiles
sector, to be launched
Policy initiatives to enhance ease of
doing business
• Legislative reforms to simplify,
rationalise and amalgamate the
existing labour laws into 4 Codes: (i)
wages; (ii) industrial relations; (iii)
social security and welfare; and (iv)
safety and working conditions
• Foreign Investment Promotion Board
(FIBP) to be abolished in 2017-18,
further liberalisation of FDI policy
under consideration
13

14. Railways
• Railways combined in broader budget,
first time in Indian history
• Total capital and development
expenditure for Railways INR 1,31,000
crores
• Focus on four major thrust areas:
Passenger safety
• Creation of Rashtriya Rail
Sanraksha Kosh with a corpus of
INR 1,00,000 crores over a period
of 5 years
Capital and development works
• Railway lines of 3,500 kms to be
commissioned in 2017-18, as
against 2,800 kms in 2016-17
• 70 projects identified for
development through joint
ventures with 9 State Governments
• 25 stations to be awarded for
station redevelopment
• 500 stations to be made
differently-abled-friendly
• 7,000 stations to be powered with
solar power
• 2,000 stations powered under 1000
MW solar mission
Cleanliness
• SMS based ‘Clean My Coach
Service’ initiated
• Single window interface ‘Coach
Mitra’ facility to be launched to
register all coach related
complaints and requirements
• All coaches to be fitted with bio
toilets by 2019
• New Delhi and Jaipur railway
stations to get pilot plants for
disposal of solid waste &
conversion of biodegradable waste
to energy
Finance and accounting reforms
• Accrual based financial statements
to be rolled out by March 2019
• Shares of Railway PSEs like IRCTC,
IRFC and IRCON to be listed in stock
exchanges
Metro Railways
• New Metro Rail Policy to be
announced with innovative models for
implementing, financing,
standardising and indigenisation of
hardware and software
• Existing laws to facilitate greater
private participation and investment
in construction and operation
• Railways to implement end-to-end
integrated transport solutions for
select commodities through
partnership with logistics players
• Service charge on e-tickets booked
through Indian Railways CTC
withdrawn
14

15. Social welfare, health & education
Water, Sanitation and Hygiene
• Swachh Bharat mission has made
tremendous progress and sanitation
coverage has gone up to 60% from
42%
• As part of a sub mission of the
National Rural Drinking Water
Programme (NRDWP), safe drinking
water will be provided to over 28,000
arsenic and fluoride affected
habitations in the next four years
• 500 railway stations to be made
differently-abled friendly
• Delhi and Jaipur to have solid waste
management plants and five more to
be set up later
• By 2019, all coaches of Indian railways
to be fitted with bio-toilets
• To impart new skills to people in rural
areas to build sanitation facilities,
mason training will be provided to 5
lakh persons by 2022
Healthcare
• The Drug and Cosmetic Rules to be
revised to make prices of medicines
more affordable and increase generic
medicine usage.
• Action-plan to achieve elimination of:
• Kala-azar & filiarisis by 2017
• Leprosy by 2018
• Measles by 2020
• Tuberculosis by 2025
• New rules regarding medical devices
to be devised to reduce their cost,
bring international harmonization,
and attract investment in the sector
• 2 New AIIMS to be set up in the state
of Gujarat and Jharkhand
• Additional 5000 post graduate seats
to be created for medical education
per annum
• DNB (Diplomate National Board)
courses to be started in many of the
hospitals across the country
• 1.5 lakh health sub centres to be
converted to Health Wellness Centres
• Aim to bring down the Maternal
Mortality Rate (MMR) from 167 in
2011-13 to 100 between 2018-2020
Education and Skill Development
• Introduction of a system to measure
annual learning outcomes in our
schools
• Innovation Fund for Secondary
Education proposed to encourage
local innovation to ensure universal
access, gender parity and quality
improvement. This will be introduced
in 3,479 educationally backward
districts
• Good quality higher education
institutions to have greater
administrative and academic
autonomy
15

16. Social welfare, health & education
• 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
• Pradhan Mantri Kaushal Kendras to be
extended to more than 600 districts
across the country
• 100 India International Skills Centres
to be established across the country
• Skill Acquisition and Knowledge
Awareness for Livelihood Promotion
programme (SANKALP) to be launched
at a cost of INR 4000 crores. SANKALP
will provide market relevant training
to 3.5 crore youth
• Next phase of Skill Strengthening for
Industrial Value Enhancement
(STRIVE) will also be launched in 2017-
18 at a cost of INR 2,200 crores
• Scheme for creating employment in
the leather and footwear industries
along the lines in Textiles Sector to be
launched
• Incredible India 2.0 Campaign to be
launched across the world to promote
tourism and employment
Women and Children
• Allocation for the welfare of women
and children increased from INR
1,56,528 crores to INR 1,84,632 crore
• Mahila Shakti Kendra will be set up
with an allocation of INR 500 crores in
14 lakh ICDS Anganwadi Centres. This
will provide one stop convergent
support services to empower rural
women with opportunities for skill
development, employment, digital
literacy, health and nutrition
• Under Maternity Benefit Scheme INR
6,000 will be transferred directly to
the bank accounts of pregnant women
who undergo institutional delivery and
vaccinate their children
• Standup India Scheme to support Dailt
and women entrepreneurs
• Lending target under Pradhan Mantri
Mudra Yojana to be set at INR 2.44
lakh crores
• Priority will be given to dalits, tribals,
backward classes and women
• Model Shops and Establishment Bill to
open up additional opportunities for
employment of women
16

17. Technology, IT
& Telecommunications
BharatNet Project
• INR 10,000 crores allocation
• 1,55,000 kms of Optical Fiber Cable
(OFC) laid to the tune of
• High speed broadband connectivity on
optical fibre to be available in more
than 1,50,000 gram panchayats, with
wifi hot spots and access to digital
services at low tariffs
• Digi-Gaon initiative to be launched to
provide tele-medicine, education and
skills through digital technology
Electronic Manufacturing
• INR 745 crores allocation for incentive
schemes like Modified Special
Incentives Package Scheme (M-SIPS),
Electronic Development Fund (EDF)
Duty Changes
• Addition of Special Additional duty, up
to 2%, on Populated Printed Circuit
Boards (PCBs) for use in the
manufacture of mobile phones,
subject to actual user condition,
aimed at providing adequate
protection to domestic electronics &
hardware industry
Digital Transactions
• Government to launch two new
schemes to promote usage of BHIM –
Referral Bonus Scheme for individuals
and Cashback Scheme for merchants
• Aadhar Pay, a merchant version of
Aadhar Enabled Payment System,
expected to be launched, aimed at
individuals who do not hold debit
cards, mobile wallets and mobile
phones
• Mission to be set up with a target of
2,500 crore digital transactions for
2017-18 through UPI, USSD, Aadhar
Pay, IMPS and debit cards
• Banks to introduce additional 10 lakh
new PoS terminals by March 2017; to
introduce 20 lakh Aadhar-based PoS
by September 2017
• Focus on rural and semi urban areas
through Post Offices, Fair Price Shops
and Banking Correspondents
• Steps to be taken to promote and
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
• Proposal to mandate all government
receipts through digital means,
beyond a prescribed limit
• Proposed move to create a Payments
Regulatory Board in Reserve Bank of
India by replacing existing Board for
Regulation and Supervision of
Payment and Settlement Systems
17