Professional Documents
Culture Documents
8 PDF
8 PDF
in
Source: www.pib.nic.in and
“
““
“
SPECIAL ISSUE
ISSN-0971-8400
Regd. No. RNI 949/57
No. Pages 84 Licenced U(DN)-56/2018-20 to post without
Published on 27 July 2019 pre-payment at RMS, Delhi (Delhi Post
Posted on 29-30 July 2019 Postal Regd. DL(S)-05/3230/2018-20
FOCUS
Fostering Youth to Take on Opportunities of the Future
Amitabh Kant
SPOTLIGHT
Water With a Capital ‘W’: The Way Forward
Parameswaran Iyer
SPECIAL ARTICLE
Transforming Urban India
Durga Shanker Mishra
Printed & Published by Dr. Sadhana Rout, Principal Director General on behalf of Publications Division, Soochna Bhawan,
C.G.O. Complex, Lodhi Road, New Delhi - 110 003. Printed at Chandu Press, D-97, Shakarpur, Delhi-110 092 Phone: 22424396, 22526936.
www.narendramodi.in
Source: www.pib.nic.in and
“
“
““
PM ON UNION BUDGET 2019-20
SPECIAL ISSUE
ISSN-0971-8400
Regd. No. RNI 949/57
No. Pages 84 Licenced U(DN)-56/2018-20 to post without
Published on 27 July 2019 pre-payment at RMS, Delhi (Delhi Post
Posted on 29-30 July 2019 Postal Regd. DL(S)-05/3230/2018-20
AUGUST 2019 A DEVELOPMENT MONTHLY `30
Union Budget 2019-20
Budget Overview
Subhash Chandra Garg
Tax Proposals: Benefits to Common Man
Ajay Bhushan Pandey
Moving Towards Better, Equitable and Affordable Health Services
Indu Bhushan
‘Blue Sky Thinking’ Blueprint for India@$5trillion
Krishnamurthy V Subramanian, Surbhi Jain
FOCUS
Fostering Youth to Take on Opportunities of the Future
Amitabh Kant
SPOTLIGHT
Water With a Capital ‘W’: The Way Forward
Parameswaran Iyer
SPECIAL ARTICLE
Transforming Urban India
Durga Shanker Mishra
Printed & Published by Dr. Sadhana Rout, Principal Director General on behalf of Publications Division, Soochna Bhawan,
C.G.O. Complex, Lodhi Road, New Delhi - 110 003. Printed at Chandu Press, D-97, Shakarpur, Delhi-110 092 Phone: 22424396, 22526936.
Follow us on facebook - https://www.facebook.com/pages/Yojana-Journal
YOJANA
Website: www.yojana.gov.in
Website: www.publicationsdivision.nic.in YOJANA is published in Assamese, Bengali, English, Gujarati, Hindi, Kannada, Malayalam, Marathi, Odia,
@DPD_India Punjabi, Tamil, Telugu and Urdu.
RANK 356
Budget Overview
Subhash Chandra Garg
fter the constitution
o f 1 7 th L o k S a b h a
Macroeconomic Outlook
The economy has achieved high
growth that averaged 7.5 per cent in
the last 5 years (2014-15 to 2018-
19) amidst significant improvements
in macroeconomic stability. As per
the provisional estimates of national
income, the growth of real GDP in 2018-
19 was 6.8 per cent, 40 basis point lower
than the real growth of 2017-18. The per cent and 7.5 per cent, respectively The macro-parameters as reflected
growth in Gross Value Added (GVA) in 2018-19. This moderation in GDP in the GDP numbers are given in the
at constant basic prices in 2018-19 growth momentum is mainly attributed table-1.
was 6.6 per cent. At the sectoral level, to the lower growth in ‘agriculture &
agriculture, industry and services sectors allied’, and in services (except financial, The Regular Budget 2019-20 was
grew at the rate of 2.9 per cent, 6.9 real estate and professional services). presented with this background. Apart
The author is Finance Secretary and Secretary, Department of Economic Affairs, Ministry of Finance, Government of India.
ʹǣ
8 YOJANA August 2019
India’s Merchandise trade: During 2016-17, exports grew by 5.2 per cent while
imports increased by 0.9 per cent, helping in narrowing the trade deficit. However,
the merchandise exports and imports grew by 10 per cent and 21.1 per cent
Table 2: Rate of capital formation (per cent)
2014-15 2015-16 2016-17 2017-18 2018-19
Gross Capital Formation 33.5 32.1 30.9 32.3 NA
Public sector 7.1 7.6 7.1 7.2 NA
Private corporates 13.4 13.2 11.6 11.6 NA
Household sector 12.1 9.6 10.5 10.3 NA
Gross Fixed Capital Formation 30.1 28.7 28.2 28.6 29.3
NA: Not Available
The economy grew by 6.8 per Goods and Services Tax from 1st July, is estimated at Rs. 8,76,209 crore in
cent in 2018-19. This growth rate was 2017. The highlights of the Budget BE 2019-20.
achieved despite higher crude oil prices Estimates for 2019-20 are elaborated
and depreciation of rupee vis-à-vis in the following paragraphs. Revenue Expenditure
dollar. Now with the moderation in oil
With the continued emphasis on The major components of the
prices and stability in the exchange rate,
empowering the States, the total revenue expenditure of the Government
the prospects of the Indian economy
resources transferred to States, include Interest payments, Subsidies,
are looking bright. All international
including the devolution of State’s Salaries, Pensions, Defence revenue
agencies including IMF and World Bank
share in taxes and the releases under expenditures, expenditure on
project firming up of growth in India
Centrally Sponsored Schemes in BE Central Police Organizations and the
in coming years. IMF has projected a
2019-20 is estimated at Rs. 13,29,428 revenue transfers made to the State/
gradual improvement in India’s growth
crore. This entails an increase of UT Governments in the form of
as a result of implementation of several
Rs. 82,845 crore over revised estimate Finance Commission grants, Centrally
structural reform measures.
2018-19 and Rs. 2,44,298 crore more Sponsored Schemes and Other
Given the macroeconomic situation than the actuals for 2017-18. Transfers. In 2019-20, outgo towards
and the structural reforms being
The Budget 2019-20 reflects the interest payments is expected to be Rs.
undertaken by the Government, the 6,60,471 crore which is 33.7 per cent
Government’s firm commitment
economy is projected to grow at 7 per of revenue receipts. In BE 2019-20,
to substantially boost investment
cent in 2019-20. Outlook of Indian in Agriculture and Social Sector, expenditure on account of subsidies is
economy appears bright with prospects particularly in Education and Health. expected to be Rs. 3,01,694 crore.
of pickup in growth in 2019-20 on back Keeping the Fiscal Deficit at 3.3 per
of pickup in private investment and cent of GDP (as against 3.4 per cent The Defence Services revenue
robust consumption growth. envisaged in interim Budget) in BE expenditure constitute mainly
2019-20, Government is committed to expenditure on salaries, other
In 2019, when the world economy
and EMDEs are projected to slow continue the path of fiscal consolidation establishment-related items including
down by 0.3 and 0.1 percentage points, without compromising on the Stores, works-related maintenance
respectively, growth of Indian economy requirements of public expenditure expenditures, transport and other
is forecast to increase. placed by the various sectors. This miscellaneous expenditure. BE 2019-
has been achieved through prudent 20 for Defence Service revenue
Budget 2019-20 rationalisation of expenditure and expenditure is estimated at Rs. 2,01,902
mobilisation of additional resources. crore. The Finance Commission grants
Fiscal deficit target for 2019-20 is are given to the State Governments
3.3 per cent of GDP in BE 2019-20 Expenditure under the statutory provisions under
while Revenue Deficit has been pegged
In Budget Estimates (BE) 2019- Article 275(1) of the Constitution.
at 2.3 per cent of GDP.
20, the total expenditure is placed at The current transfer to States under FC
l The Central Government Debt as a Rs.27,86,349 crore showing an grants are based on recommendations
percentage of GDP for BE 2019-20 increase of Rs. 3,44,136 crore over of 14th Finance Commission in relation
is expected to be 48 per cent. BE 2018-19 and an increase of to revenue deficit grants, Grants in
l In BE 2019-20, the Gross Tax Rs. 3,29,114 crore over RE 2018- aid for State disaster response funds
Revenue as a percentage of GDP 19. The total expenditure includes a and Grants in aid for the rural and
is expected to be 11.7 per cent. provision of Rs. 12,02,404 crore under urban local bodies. Budgeted estimate
Schemes. in 2019-20 under this component of
Budget Overview revenue expenditure is Rs. 1,20,466
Revenue Expenditure and Capital
Budget for 2019-20 is the Expenditure are Rs. 24,47,780 crore crore. The recommendations of 14th
second budget (excluding interim Budget and Rs. 3,38,569 crore, respectively. Finance Commission are in force till
for 2019-20) after implementation of Capital Expenditure (including IEBR) 2019-20.
I economy driven by
‘virtuous cycle of
investment’ in next few
years. Currently we
economy in the world.
At present, India is the sixth
largest economy in the world and
tax system to facilitate ease
of compliance and transparency,
the tax administration is all
are growing to be a US$ 3 trillion tax administration has played a set to use technology to speed up
very vital role in this journey of
economy within this year. We are
India’s economic development. In
regular business processes and
the third largest economy, next only eliminate opportunity for rent
to China and the USA, in terms of his legendary work Arthashastra,
purchasing power parity. Kautilya says, A nation’s status seeking.
relies upon its fiscal power and
With the growth mantra of Kosha Moolo Danda which means require an upgraded modernised tax
“Reform, Perform, Transform”, it is an that revenue is the backbone (of administration system which is not only
era of transformative revolutions for administration). Therefore, in today’s simple, convenient, comprehensive,
India. Revolutions with the appropriate time, India needs fiscal robustness modern, and taxpayer-friendly but is
use of technologies, innovations, to grow fast with good governance also judicious, responsive and prompt
potentials and resources to empower and transparency. And to achieve in addressing the challenges within
masses, re-energise prospects, upgrade this, we must have appropriate tax the ecosystem of tax administration to
institutions, restructure infra-build proposals and to implement them also persuade a tax compliant society.
up, endorse formal economy and
rejuvenate socio-cultural fabric.
India now puts recalibrated, intense,
leapfrogged efforts not only to gain
its losses during pre-Independence
period, but to achieve much more
to make a mark internationally and
compete with the World at her best.
These efforts are transforming the
national fabric of the society by
“putting the nation first”, along with
ample economic opportunities to
empower people so that they enjoy
ease of life and ease of business in a
manner where no one is left behind.
India, now with many firsts, has
more than 124 crore Aadhaar with
more than 99 per cent adult coverage
under the World’s largest digital
identification platform, 119 crore
bank accounts covering 99.8 per cent
financial inclusion of families with
more than 65 crore unique personal
accounts and almost 118 crore mobiles
Dr. Ajay Bhushan Pandey is Secretary, Department of Revenue, Ministry of Finance, Government of India.
MORE THAN
SELECTIONS
IN THE INDIAN
FOREST SERVICE
EXAMINATION FOR
LAST 14 YEARS
RESULTS OF ZOOLOGY,
BOTANY, FORESTRY &
AGRICULTURE
OPTIONAL SUBJECTS
YE-1204/2019
E livelihood opportunities
through skill development,
mentoring and support for
research and development
skilled, knowledge-led economy.
The proposal to establish a National
Research Foundation that assimilates
the research grants given to different
for e-verification to the launching
of an exclusive television channel
within the DD bouquet of channels
for promoting and discussing issues
is key to the nation’s advancement. Ministries will ensure that the overall affecting Start-ups. For ease of access
This Budget reiterates Government’s research ecosystem in the country is to credit for MSMEs, Government
commitment to empower the youth strengthened with a focus on identified has introduced the facility of availing
to take on challenges of the future thrust areas relevant to our national a loan up to Rs.1 crore within 59
and tap opportunities brought forth priorities. Massive online open courses minutes through a dedicated online
by changes in technologies and other through the SWAYAM initiative have portal. Under the Interest Subvention
transformations in the local and global helped bridge the digital divide for Scheme for MSMEs, Rs.350 crore
economic situations. disadvantaged section of the student has been allocated for FY 2019-20 for
community. To upgrade the quality 2 per cent interest subvention for all
Education and training are key to of teaching, the Global Initiative GST registered MSMEs, on fresh or
tap the inherent potential of youth and of Academic Networks (GIAN) incremental loans. As highlighted in
prepare them to take on diverse roles programme in higher education was the Budget speech, the Government
in different sectors, including new started, aimed at tapping the global has proposed to launch a Mission
and emerging sectors of the economy. pool of scientists and researchers. which will integrate our traditional
The draft report of National Education The IMPRINT or Impacting Research artisans and their creative products with
Policy 2019 lays greater focus on Innovation and Technology scheme global markets. Wherever necessary,
research and innovation to transform began as a Pan-IIT and IISc joint Intellectual Property rights, patents
India’s higher education system to initiative to develop a roadmap for and geographical indicators will be
one of the best global education research to solve major engineering obtained for the artisans. With this
systems. A large number of youth are and technology challenges in selected Mission then, the Indian traditional
able to take up industry-relevant skill domains needed by the country. Higher creative industry will be brought to the
training through the Pradhan Mantri educational institutions are becoming forefront of national and international
Kaushal Vikas Yojana (PMKVY) and the centres of innovation. markets.
various other schemes under ‘Skill
India is coming up as a launchpad The present budget is focussed on
India.’ The Government’s focus now
for Start-ups and their continued boosting investment, manufacturing
is to skill and re-skill youth in the new
growth needs to be encouraged. Budget and exports. All of these would lead
and upcoming skills like Artificial
2019-20 has brought various enabling to increase in employment. In order to
Intelligence (AI), Internet of Things, provisions for Start-ups ranging from a boost economic growth and provide
Big Data analytics, 3D Printing, relief from ‘angel tax’ and unnecessary an impetus to Make in India, the
Virtual Reality and Robotics, which
are gaining more and more value. As highlighted in the Budget speech, the Government has proposed to launch
Given the demographic trends that a Mission which will integrate our traditional artisans and their creative
show severe labour shortages for major
economies of the world, there is also products with global markets. Wherever necessary, Intellectual Property
a need to prepare our youth to take up rights, patents and geographical indicators will be obtained for the artisans.
jobs overseas. Increased emphasis will With this Mission then, the Indian traditional creative industry will be
be given to skill sets needed abroad, brought to the forefront of national and international markets.
including language training.
The author is CEO of NITI Aayog.
do you know?
National Common Mobility Card:
India's First Indigenously Developed Payment Platform
India’s first indigenously developed payment ecosystem for transport based on National Common Mobility Card (NCMC) standards
was launched in March 2019. This is the first of its kind in India. NCMC Card, SWEEKAR (Swachalit Kiraya: Automatic Fare
Collection System) and SWAGAT (Swachalit Gate) is used on NCMC Standards.
These are bank issued cards on Debit/Credit/Prepaid card product platform. The customer may use this single card for payments
across all segments including Metro, bus, suburban railways, toll, parking, smart city and retail. The stored value on card supports
offline transaction across all travel needs with minimal financial risk to involved stakeholders. The service area feature of this card
supports operator specific applications, for example, monthly passes, season tickets, etc.
Ministry of Housing and Urban Affairs brought to the fore the NCMC to enable seamless travel by different metros and other
transport systems across the country besides retail shopping and purchases.
NCMC Ecosystem offers the value proposition for customers as they need not to carry multiple cards for different usage. Further,
the super quick contactless transactions will improve the seamless experience. For operators, NCMC ecosystem brings common
standards for implementation without vendor lock-in.
This will also help in higher digital payments penetration, savings on closed loop card lifecycle management cost and reduced
operating cost. The rich data insights may be used by operators for business intelligence leading to efficient operation. NCMC
Ecosystem will further help government in digitization of low value payments and reduced cost for the entire ecosystem.
Source: PIB
k
S a n D is
S a n D is
Sushil Kumar
Rank 481 (2017-18)
YE-1208/2019
I
r a p i d l y. A s p e r l a s t
census 2011, 37.7 crores
people (31.2 per cent of
population) lived in urban
areas. This is projected
to grow to 60 crores by 2031 and 80
crores by 2051 (High Powered Expert
Committee [HPEC], 2011). While
urbanisation is inevitable, there has
been substantial increase in census
towns/out growths, and delivery of
civic services has severely lagged
behind leading to huge cumulative
gaps in urban infrastructure.
McKinsey’s Global Institute’s
R e p o r t t i t l e d “ I n d i a ’s U r b a n
Awakening: Building Inclusive
Cities, Sustaining Economic Growth
(2010)”, observes that India faces in the lives of people with inclusive, in coverage of sewerage/septage
severe challenge of low capital participative and sustainable approach. needed focus, for which 500 cities
investment in urban infrastructure, Not only there has been a substantial (with over 1 lakh population) were
which is around US$ 17 per capita increase in the financial commitments covered under the scheme Atal
as compared to US$ 100 in other and allocation of funds but above Mission for Rejuvenation and Urban
countries of same level. Report all, the powerful mantra of “Sabka Transformation (AMRUT). Lastly,
estimated that an investment to the Saath, Sabka Vikas” given by the
tune of US$1.2 Trillion (Rs. 54 lakh Prime Minister has inspired the policy Budget 2019-20 with 10 point
crores at 2009-10 prices) would be thrust for achieving ease of living vision for the decade is aimed
required till 2030; out of which half is for the citizens. This can be seen in at building physical and social
required to take care of the backlogs
of earlier years! Report mentions
Government’s three level approach infrastructure. Government has
described below. announced in the budget its
that in 2008, India’s urban areas
accounted for 58 per cent of overall At the first level, for all over 4,300 intention to invest around
GDP and that cities generated lion’s urban local bodies (ULBs) flagship Rs. 100 lakh crores to fund India’s
share of tax revenue between 80-85 schemes like Swachh Bharat Mission infrastructure in next five years.
per cent. (SBM-U), Pradhan Mantri Awas
Yojana (PMAY-U) and Deendayal
For the first time, Budget has set
Missions for Urban Rejuvenation Antyodaya Yojana-National Urban a definite goal i.e. aspiration to
Right since 2014, Government Livelihood Missions (DAY-NULM) take the economy to US$ 5 Trillion
embarked on one of the most were launched to address the issues level in next five years backed with
comprehensive programmes of planned of cleanliness, affordable housing and Aastha (Hope), Vishwas (Trust) and
urban poverty alleviation. At second
and systematic urban development with Aakansha (Aspirations) of 130 crore
the launch of various flagship missions level, provision for universal water
to bring about a transformative change supply and substantive enhancements Indians.
The author is Secretary, Ministry of Housing and Urban Affairs, Government of India.
th
5 NEW BATCHES START 19 th
Comprehensive coverage of Syllabus
E-LEARNING PROGRAMMES
(Specially meant for aspirants who are unable to attend our classroom programme)
COURSE FEATURES Updated study materials in hardcopy Class Synchronised Weekly Test (Subjective & Objective) Prelims & Mains Test Series
Our CSE
Result 2018
And
Junaid Ahmad Shubham Gupta Sawan Kumar Brijesh J. Upadhyay Namita Sharma G. Reddyraghavendra Shreya Gupta Many
AIR-3, CSE-2018 AIR-6, CSE-2018 AIR-89, CSE-2018 AIR-122, CSE-2018 AIR-145, CSE-2018 AIR-180, CSE-2018 AIR-194, CSE-2018 more…
Ex-Assistant Prof. of Economics, DU Over 12 years of teaching experience Over 13 years of teaching experience Over 11 years of teaching experience
Assistant Professor, DU Over 11 years of teaching experience Over 9 years of teaching experience Over 11 years of teaching experience
636, Mukherjee Nagar, Delhi-9 011- 27607070, 7840888777 Website: www.gsmentors.com e-mail: gsmentors1@gmail.com
W
juncture in history as this
year marks the 150th these macroeconomic variables using investment, is the “key driver” that
birth anniversary of the pictorial description of several drives demand, creates capacity,
Mahatma Gandhi, the inter-linked gears. increases labour productivity,
‘Father of the Nation’.
By freeing India from British Rule, he
International experience, especially introduces new technology, allows
laid the foundation for an independent
from high-growth East Asian creative destruction, and generates
economies, suggests that sustained
India. We now have an immense jobs. This is another departure
high rate of growth needs a catalytic
opportunity to give shape to a golden
“virtuous cycle” of savings, investment from traditional economic thinking
‘New India’ (#India75). The Prime based on consumption-led economic
and exports supported by a favourable
Minister has outlined the vision of
making India a US$ 5 trillion economy
demographic phase. Investment, growth.
especially private investment, is the
by 2024-25 (#Economy@5trillion).
“key driver” that drives demand, creates spiritual heritage, social norms play
Economic Survey 2018-19 has
capacity, increases labour productivity, a very important role in shaping our
consciously adopted the theme of
introduces new technology, allows behaviour. Behavioural economics
empowering the economy and its
creative destruction, and generates provides the necessary tools and
citizens to enable realising this vision. principles to not only understand
jobs. This is another departure from
The Survey employs unfettered, how norms affect behaviour but
traditional economic thinking based on
“blue sky” thinking to evolve the also to utilize these norms to effect
consumption-led economic growth.
appropriate economic model for India behavioural change. An ambitious
along with the tactical tools to stay on After laying out this strategic agenda can be aspired for behavioural
the path of the strategic blueprint. It blueprint for fulfilling the vision of change by applying the principles of
also lays down a blueprint to enable #Economy@5trillion, the Survey behavioural economics to several
a “shifting of gears” through the describes some of the tactical devices issues including gender equality, a
‘virtuous cycle of growth’ to sustain required to navigate an uncertain healthy and beautiful India, savings,
a real GDP growth rate of 8 per cent. world in constant disequilibrium. The tax compliance and credit quality.
This endeavour is reflected in the sky Survey attempts to examine policy
nudges at micro-level to integrate The Survey also focuses on
blue cover of the Survey and the cover
nourishing MSMEs to create jobs and
design depicting several inter-linked into desirable outcomes at the macro
become more productive so that they
gears. level and facilitate creation of a self-
can become internationally competitive.
sustaining virtuous cycle which spurs
The Survey departs from traditional It presents evidence that while firms
investment and thereby growth.
thinking by viewing the economy as with less than 100 workers, despite
being either in a virtuous or a vicious The Survey delineates the impact being more than ten years old, account
cycle, and thus never in equilibrium. created by Government’s flagship for more than half of all organised firms
Another significant departure is initiatives such as Swachh Bharat in manufacturing by number, their
that it views the national priorities Mission (SBM), Jan Dhan Yojana contribution to employment is only 14
of fostering economic growth, and the Beti Bachao Beti Padhao, per cent and to productivity is a mere 8
demand, exports and job creation as which provide testimony to the per cent. In contrast, large firms (more
complementary to each other rather potential for behavioural change in than 100 employees) account for three-
than viewing as operating in ‘silos’. India. Given our rich cultural and quarters of such employment and close
Krishnamurthy V Subramanian is Chief Economic Adviser, Government of India. Surbhi Jain is Director, Department of Economic
Affairs, Ministry of Finance, Government of India.
”
and facilitate this role of women.
”
national growth.
”
account and rest will be on self-declaration.
”
their dignity.
“ To take connectivity infrastructure to the next level, we will build on the successful model in ensuring
power connectivity - One Nation, One Grid. I propose to make available a blueprint this year for developing
”
gas grids, water grids, i-ways, and regional airports.
“ I propose to initiate steps to create an electronic fund raising platform - a social stock exchange - under
the regulatory ambit of SEBI for listing social enterprises and voluntary organizations working for social
”
welfare objective so that they can raise capital as equity, debt or as units like a mutual fund.
“ Large public infrastructure can be built on land parcels held by Central Ministries and CPSEs. Through
innovative instruments such as joint development and concession, public infrastructure and affordable
”
housing will be taken up.
Source:www.pib.nic.in and
unionbudget.gov.in
l Payment platform for MSMEs to be created to enable filing of bills and payment thereof, to eliminate delays in
government payments.
l SEBI to consider raising the threshold for minimum public shareholding in the listed companies from 25 per cent
to 35 per cent.
l Know Your Customer (KYC) norms for Foreign Portfolio Investors to be made more investor friendly.
l Government to supplement efforts by RBI to get retail investors to invest in government treasury bills and securities,
with further institutional development using stock exchanges.
l FDI in sectors like aviation, media (animation, AVGC) and insurance sectors can be opened further after multi-
stakeholder examination.
l Local sourcing norms to be eased for FDI in Single Brand Retail sector.
l Government to organize an annual Global Investors Meet in India, using National Infrastructure Investment
Fund (NIIF) as an anchor to get all three sets of global players (pension, insurance and sovereign wealth
funds).
l Statutory limit for FPI investment in a company is proposed to be increased from 24 per cent to sectoral foreign
investment limit. Option to be given to the concerned corporate to limit it to a lower threshold.
l FPIs to be permitted to subscribe to listed debt securities issued by ReITs and InvITs.
l NRI-Portfolio Investment Scheme Route is proposed to be merged with the Foreign Portfolio Investment
Route.
l Cumulative resources garnered through new financial instruments like Infrastructure Investment Trusts
(InvITs), Real Estate Investment Trusts (REITs) as well as models like Toll-Operate-Transfer (ToT) exceed
Rs. 24,000 crore.
Tax Simplification and Ease of living - making compliance easier by leveraging technology:
Those who don’t have PAN can file tax returns using Aadhaar.
Pre-filled tax returns with details of several incomes and deductions to be made available.
l Faceless e-assessment
To be carried out initially in cases requiring verification of certain specified transactions or discrepancies.
l Solar stoves and battery chargers to be promoted using the approach of LED bulbs mission.
Naari Tu Narayani/Women
l Approach shift from women-centric-policy making to women-led initiatives and movements.
l A Committee proposed with Government and private stakeholders for moving forward on Gender budgeting.
l SHG:
Overdraft of Rs. 5,000 to be allowed for every verified women SHG member having a Jan Dhan Bank
Account.
One woman per SHG to be eligible for a loan up to Rs. 1 lakh under MUDRA Scheme.
l Mission to integrate traditional artisans with global markets proposed, with necessary patents and geographical
indicators.
l 18 new Indian diplomatic Missions in Africa approved in March, 2018, out of which 5 already opened. Another
4 new Embassies intended in 2019-20.
l 17 iconic Tourism Sites being developed into model world class tourist destinations.
l Present digital repository aimed at preserving rich tribal cultural heritage, to be strengthened.
Digital Payments
l TDS of 2 per cent on cash withdrawal exceeding Rs. 1 crore in a year from a bank account.
l Business establishments with annual turnover more than Rs. 50 crore shall offer low cost digital modes of
payment to their customers and no charges or Merchant Discount Rate shall be imposed on customers as well
as merchants.
Investment linked income tax exemptions to be provided along with indirect tax benefits.
Source:pib
N
“
has been the tradition turnout in the recent general election and number of women in the
of this country. With Parliament, the Finance Minister emphasised the shift in the Government’s
these words, the Union approach from women-centric to Women-led Initiatives (“Naari tu Narayani”).
Finance Minister made a
push for women empowerment in the over decision-making in the home, Minister, who spearheaded GRB in
Budget 2019-20. community, society and nation and to 2003-04 as a member of the National
gain “power”. Commission for Women.
Empowerment is a multi-faceted,
multi-dimensional and multi-layered The Union Budget 2019-20 is the In several countries across the
concept. Women empowerment is a 15 th Budget to incorporate Gender world, GRB is considered a powerful
process in which women gain greater Responsive Budgeting (GRB) since fiscal tool to back efforts towards gender
share of control over resources – its adoption by India in 2005-06. GRB equality with financial commitments.
material, human and intellectual, assumes particular significance this GRB is not just about resource
like knowledge information, ideas year as the maiden budget of Modi allocation for women’s programmes
and financial resources like money government 2.0 has been presented by but the application of a gender lens to
– and access to money and control India’s first full-time female Finance the entire budgetary exercise, keeping
Dr. Shahin Razi is a U.G.C. Emeritus Fellow, economist and an academician. Ms. Naushin Razi is a Management Consultant and Social
Activist.
$) "" '" -! & #!& -&% ! " #$%%
01
21 & ! ! & ./%$! &'! $!& ( )" *+$% !*+%) %' & +**$ &"" % " ,) !"+#++&!'
'#'!! *& !,%, && ' # #&" &+ -% &#!( !" & #''- ,$)"*$ & $& $**& * !$)&' &#+& ,!- & #!& ,%
*+,
-
%
)
)
%)
%
(
)%
)%
*./0
YE-1210/2019
B
Government was presented
in the Parliament on 5thof
July this year. Budget is
largely a policy declaration
of the Government
showing its priorities, programmes
and targets and the provisions to
implement those programmes and steps
to achieve the targets. Through various
measures, Budget seeks to regulate the
economy.
Before the presentation of Budget
for the year 2019-20, the Economic
Survey for the year was presented in
the Parliament. The Economic Survey
throws up certain significant figures
which one has to keep in mind while
attempting to understand and analyse
the Budget. A few of these basic facts
are summarised below:
(a) The rate of growth of Gross
Domestic Product (GDP) in the
year 2018-19 has been 6.8 per
cent against 7.5 per cent in 2017-
18. The Budget aims at 7 per cent
GDP growth rate. The average
growth rate during the last five
years has been 7.5 per cent. G o v e r n m e n t ’s a n d S t a t e Budget: Main Points
(b) There is a declaration of an intent Government’s fiscal deficit is The current year’s Budget has
to become a 5 trillion economy combined, it would go up to some popular announcements and
by 2024. This will necessitate 5.8 per cent. This is actually a some initial measures for systemic
8 per cent rate of growth of GDP decline from the previous year;
in next 5 years. when it had been 6.4 per cent. Budget announces an intent to invest
(c) The Survey also informs that (e) Current Account deficit has Rs. 100 lakh crores in infrastructure
the macro economic conditions increased from1.9 per cent in next five years. It proposes an
are expected to be stable during in 2017-18 to 2.6 per cent in expert committee to study, analyse
2019-20, thanks to the structural the period April to December, and determine where the funds will
reforms effected during the last 2018. This has been because of
five years. higher trade deficit which rose
come from. Therefore, the path and
(d) The fiscal deficit has been from 162.1 billion dollars in sources of financing infrastructure
at the rate of 3.4 per cent of 2017-18 to 184 billion dollars in remains to be chalked out.
GDP. However, if the Central 2018-19.
The author is a former civil servant. He retired as Secretary (Youth Affairs), Government of India.
'RZQORDG
9Ζ6Ζ21Ζ$6
DSS
*6&/$665220352*5$06
$POUJOVPVT"TTFTTNFOUUISPVHI"TTJHONFOUT
$//Ζ1'Ζ$7(676(5Ζ(6
BOE"MM*OEJB5FTU4FSJFT (FUUIF#FOFGJUPG*OOPWBUJWF"TTFTTNFOU4ZTUFN
*OEJWJEVBM(VJEBODF GSPNUIFMFBEFSJOUIF5FTU4FSJFT1SPHSBN
*(1(5$/678'Ζ(6 35(/Ζ06
(FOFSBM4UVEJFT
0$Ζ16
(FOFSBM4UVEJFT
)281'$7Ζ21&2856( ÑIJ8QKHNHHVD+NKÐ ÑIJ8QKHNHHVD+NKÐ
&TTBZ ÑIJ8QKHNHHVD+NKÐ
GPS(FOFSBM4UVEJFT1SFMJNTDVN.BJOT
$4"5 4PDJPMPHZ
'(/+Ζ (FPHSBQIZ
5HJXODU%DWFK :HHNHQG%DWFK /8&.12: ÑIJ8QKHNHHVD+NKÐ
"OUISPQPMPHZ
30 $0 $0 30
-XO\ -XO\ -XO\ -XQH
6WDUWLQJIURP -XQH
UG
IRU35(/Ζ06
-$Ζ385 381( %DWFKDOVR# (QJOLVK0HGLXP -XO\
WK
IJ8QKHNHUG-XQH
0$Ζ16 0OF:FBS$VSSFOU"òBJSTGPS.BJOT
(QJOLVK0HGLXP
-XO\_30
IJ8QKHNH
$XJXVW_30 4FMFDUJPOT JO5PQ
JO$4&
4&-&$5*0/4JO$4&
(7+Ζ&602'8/( -XQH_30
WK
$'9$1&(&2856(IRU*60$Ζ16 -XQH WK
$/7(51$7Ζ9(&/$665220352*5$0
GPS(41SFMJNTDVN.BJOT 6$&+Ζ1 .$1Ζ6+$. $.6+$7 -81$Ζ'
WK-XO\_$0 *837$ .$7$5Ζ$ -$Ζ1 $+0$'
WK-XO\_30
$Ζ5 $Ζ5 $Ζ5 $Ζ5
0217+/<&855(17$))$Ζ565(9Ζ6Ζ21
GPS(FOFSBM4UVEJFT1SFMJNT.BJOT
(QJOLVK0HGLXP IJ8QKHNH
-XQH_30 -XO\_30
ONHN8YX
$78/ 6+5(<$16 6586+7Ζ-$<$17 .$51$7Ζ
35$.$6+ .80$7 '(6+08.+ 9$5815(''<
$Ζ5 $Ζ5 $Ζ5 $Ζ5
4NPD0VmNXGNVO=
oNMDI+NGYN6MHT>LMK^NNGVI\ '(/+ΖUG-XO\
YE-1201/2019
O initiated by Government
of India to improve
access, equity and quality
in the education sector.
In the area of school education, the
Government has taken significant steps
to address the challenges of suboptimal
learning outcomes. In higher education,
the emphasis has been on setting
up new premier institutions across
the country, marking the highest
ever such expansion in history after
Independence. Moreover, there is a
conscious effort at rearchitecting the
higher education regulatory landscape
to ensure quality without compromising
the autonomy of institutions.
The Government has also recently
put out a draft of the National Education
Policy which aims to systematically
transform school and higher education
in the public domain for comments.
Further, financial allocations for
education have evolved over the years.
Since the Millennium Budget in the
year 2000, spending on education
has increased around 17-fold from
Rs. 5,635 crore to Rs. 94,853.64 to a school. Initiatives to promote Ratio pan-India touched an impressive
crore in Union Budget 2019-20 1 Education for All included the launch 99.89 per cent at the primary level in
(Figure 1). Of the total education of the Sarva Shiksha Abhiyan, the 2014-15. Currently, the Indian school
budget, Rs.56,536.63 crore has been passage of the Right to Education education landscape includes around
allocated for school education while Act and the scaling up of Mid-Day 15 lakh schools with 89 lakh teachers,
Rs. 38,317.01 crore has been dedicated Meal Schemes. These efforts have catering to a population of over 25
for higher education. This represents yielded success. Gross Enrolment crore students.
a 12.8 per cent Year-on-Year (Y-o-Y)
increase in FY20 for school education As highlighted by the Union Finance Minister in her Budget Speech
and a 14.3 per cent Y-o-Y rise in
budgetary allocation for higher
2019-20, the Higher Education Commission of India (HECI) legislation has
education. been drafted for repealing the UGC Act, 1956. The legislation proposes
to completely overhaul the regulatory framework governing higher
School Education
education; moving from an intrusive, fragmented, input-based
Flashback to 20 years ago, regulatory system to a more open, outcome and
Governmental policy focused on
ensuring that every child has access accreditation-based regulatory system.
Alok Kumar is Adviser (HRD), Sarah Iype is Young Professional and Urvashi Prasad is Public Policy Specialist, NITI Aayog,
Government of India.
T
food-grains, pulses, oilseeds, groups which need Government
five years our government fruits and vegetables; interventions such as Persons
has taken several steps with Disabilities, Senior Citizens,
to empower the poor, i. Healthy society – Ayushman Transgender Communities and De-
farmers, Scheduled Bharat, well-nourished women Notified, Nomadic and Semi Nomadic
Castes, oppressed and the down- and children. Safety of citizens; Communities.
trodden. In the next five years this j. Team India with Jan Bhagidari.
empowerment will make them the There has been visible impact on
Minimum Government Maximum the socio-economic indicators with
powerhouse of development. . . .This Governance.
is a Budget that will enrich the country respect to SCs, STs and others. For
and make its people more empowered. Article 46 of the Constitution states instance, rural poverty ratio amongst
The poor will get strength and the youth that, “The State shall promote, with the SCs, which was 53.5 in 2004-05,
a better tomorrow from this Budget.” special care, the education and has decreased to 31.5 in 2011-12. In
economic interests of the weaker case of STs rural poverty ratio has
The theme of Ek Bharat Shresht sections of the people, and, in particular decreased from 61.18 in 2004-05 to
Bharat is prime focus of the Government of the Scheduled Castes and Scheduled 45.3 in 2011-12. Literacy rate amongst
to achieve inclusive growth with Tribes, and shall protect them from SCs was 21.38 per cent in 1981, but
agenda of ‘no one left behind’ in the social injustice and all forms of social has increased significantly to 66.07 per
area of development. The current exploitation.” cent in 2011. Similarly for STs in the
Government has clearly visualised the corresponding period, has increased
development with following visions to As mandated in the Constitution, from 16.35 per cent to 58.96 per cent.
make it real: every successive Government strives
to ensure inclusive development of The Union Government and States
a. Building physical and social have obligation to earmark funds
infrastructure; weaker sections. Weaker sections
are the sections which are included and ensure welfare and development
b. Digital India reaching every sector in the Schedules of the Constitution opportunities for SCs, STs, Women and
of the economy; under Article 341 and 342. Castes/ Children through Gender Budgeting,
c. Pollution free India with green communities included in the list of Budgeting for Children and budgetary
Mother Earth and Blue Skies; Other Backward Classes, and the six allocations for SCs and STs. The
Religious Minorities viz. Muslims, Union Government in its Full Budget
d. Make in India with particular
Christians, Sikhs, Buddhists, Jains and 2019-20 has allocated Rs. 81340.74
emphasis on MSMEs, Startups,
Parsis (Zoroastrians). crore for Scheduled Castes Sub-Plan,
defence manufacturing,
automobiles, electronics, Fabs and The Union Government and States have obligation to earmark funds and
batteries, and medical devices;
ensure welfare and development opportunities for SCs, STs, Women and
e. Water, water management, clean Children through Gender Budgeting, Budgeting for Children and budgetary
rivers;
allocations for SCs and STs. The Union Government in its Full Budget
f. Blue Economy;
2019-20 has allocated Rs. 81340.74 crore for Scheduled Castes Sub-Plan,
g. Space programmes, Gaganyan,
Chandrayan and Satellite Rs. 52884.82 crore for Tribal Sub-Plan, Rs. 136934.10 crore for Women
programmes; empowerment and Rs. 91644.29 crore for welfare of Children.
Muniraju S B is Deputy Adviser (Social Planning), NITI Aayog, Government of India and Smt. Chaitra Devoor is Technical Officer
CPHEE, Ministry of Urban Development, Government of India.
ϭϱ͕ϬϬϬ
Ϭ͘ϬϬ total in
six yearsM/o Minoority Affairs
2014-15 2015-16 2016-17
TSP 2017-18
ϭϬ͕ϬϬϬ
Ϭ͘ϬϬ ϴ2018-19
ϴ͕ϴϴϱ͘ϬϬ 2019-20
14% ϲϴϵϰ͘ϵϲ
b- Gender Budget
36%
B
% ϰ
ϰϳϬϬ
Ministry of Women an nd
Child Devvelopment
30035.07 30603.70 34333.67 49492.31
ϱ͕ϬϬϬ
Ϭ͘ϬϬ 62473.86 81340.74 288279.4
ϰ͘ϵ
ϭϮϬϰ Linear (D
D/o Social Ju
ustice
19920.72 21216.54 21810.56 31913.72 41093.33 52884.82 188839.7 & Empow werment)
Ϭ
Ϭ͘ϬϬ
79257.87 96331.83* 71817.96* 92883.74 125531.58 136934.10 434607.3
ϮϬϭϵͲϮϬ
urc 64635.09*
ce: Union Budget; 66248.62*
Source:Expenditu
EUnion Budget; e 117221.47
Expenditure
ure profile profile 70705.81 81235.63 91644.29 360807.2
2014-15 to 2019-20 Source:
Sourcce:Union
UnionBudget; Expenditure
Budget; E
Expendituprofile 2019-20
ure profile e
s
The 129213.7
Nodaal Ministrries51820.24
dealiing with marginal
173365.7 groups viz. Ministry of 310334.4
244995.6 362804 1272534
cial Justice and Emp powermen
Table-1 Actuals
nt has allo
REs.and
ocated Rs
BEcrore,
8.885 c
for marginal
The
wh
hile the
groups in the last six
totall amountt allocated
years ofe present
d for the margina
Government
al section
ns in the Union
e concerned Financial Year
parrtment of Empowerrment of Persons with w Disa
abilities haas allocat
Budge etted Rs. 0 is Rs. 50,849.76
2019-2 6 crore, while
w the Ministry of Wome en and
Funds spent for weaker between 2014-15 to 2017-18 and RE&BE for 2018-19 and 2019-20, Rs. in Crore
nion Budget; Expenditure profile
04.9 90 croress; Ministry y of Triba
al Affairs has alloccated Rs. 6894.96 crore;
nisttry of Min nority Afffairs has allocatedd Rs. 470 00 crore Actual
a
and Mini stry of
Expenditure incurred RE BE Grand total
men and Ch Ministry/Deptt.
hild Deveelopment has alloc cated Rs. 29164.9 90 crore; in the in six years
nanc cial year 2019-20
2 f inclusiive develo
for opment off their targ
get group s.
ercentage of amount spent/allocated for social groups in last 6 years
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
artt: 3 Indic
cates the amount
Scheduled Castesallocated
d for the30035.07
Sub-Plan nodal m
ministries in the
30603.70 34333.67 49492.31 62473.86 81340.74 288279.4
ion Budget 2019-20
2 Tribal Sub-Plan 19920.72 21216.54 21810.56 31913.72 41093.33 52884.82 188839.7
ϱ͕ϬϬϬ
Ϭ͘ϬϬ
Gender Budget 79257.87 96331.83* 71817.96* 92883.74 125531.58 136934.10 434607.3
Ϯϵϭϲϰ͘ϵ
Ϭ͕ϬϬϬ
Ϭ͘ϬϬ D/o Social Justice &
Budget for Children 64635.09*
Empowerrment 66248.62* 117221.47 70705.81 81235.63 91644.29 360807.2
ϱ͕ϬϬϬ
Ϭ͘ϬϬ
Year wise total funds for D/o Emppowerment off
Persons with
w Disabilities
Ϭ͕ϬϬϬ
Ϭ͘ϬϬ Social Inclusion 129213.7 51820.24
M/o Tribal Affairs
173365.7 244995.6 310334.4 362804 1272534
ϱ͕ϬϬϬ
Ϭ͘ϬϬ * RE of the concerned Financial Year M/o Minoority Affairs
Ϭ͕ϬϬϬ
Ϭ͘ϬϬ ϴ Source:
ϴ͕ϴϴϱ͘ϬϬ Union Budget; Expenditure profile 2014-15 to 2019-20
ϲϴϵϰ͘ϵϲ Ministry of Women an
nd
ϰ
ϰϳϬϬ Child Devvelopment
ϱ͕ϬϬϬ
Ϭ͘ϬϬ
ϰ͘ϵ
ϭϮϬϰ Linear (D
D/o Social Ju
ustice
Ϭ
Ϭ͘ϬϬ
70 & Empow werment) YOJANA August 2019
ϮϬϭϵͲϮϬ
urc
ce: Union Budget; Expenditu
E ure profile
e
Rs. in crore
Ministry/Deptt. Actual Expenditure incurred RE BE Grand total
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 in six years
D/o Social Justice & Em- 5330.95 5752.74 6516.09 6747.02 9963.25 8,885.00 43195.05
powerment
D/o Empowerment of Per- 337.84 554.97 772.56 922.47 1070.00 1204.90 4862.74
sons with Disabilities
M/o Tribal Affairs 3831.95 3654.86 4816.92 5316.63 6000.00 6894.96 30515.32
M/o Minority Affairs 3069.01 4479.88 2832.46 4057.18 4700.00 4700.00 23838.53
Ministry of Women and 18436.18 17248.72 16873.52 20396.36 24758.62 29164.90 126878.3
Child Development
marginalised
Year wise total funds for
31005.93 communities
31691.17 percentage
31811.55 37439.66 wise distribution
46491.87 50,849.76 of funds
229289.9can be see
Social Inclusion
n has got an allocation of 57% ofbelow.
funds followed by Ministry of Social
Source: Unionand
and Empowerment Budget; Expenditure
Ministry profile Affairs.
of Tribal 2014-15 to 2019-20
M/o TA M/o TA
14% M/oWCD
M/o WCD 13%
57% 55%
M/o
MOMA M/o MA
9% 11%
Source: Union Budget; Expenditure profile 2019-20 Source: Union Budget; Expenditure profile 2014-15 to 2019-20
: Union Budget; Expenditure profile Source: Union Budget; Expenditure profile
The total amount allocated for the distribution of funds can be seen to become US$5 trillion economy in
he last six years
marginalfunds allocated
sections for nodal
in the Union BudgetMinistries/Departments
below. the world by active contribution of
d in achieving social
2019-20 inclusion
is Rs. 50,849.76iscrore, The implementing Ministries/Departments
as follows:
while are mainly
marginal communities focusing on th
in economic
The implementing Ministries/ growth.
the Ministry of Women and inclusive development of their target groups in convergence with other lin
Children
has got an allocation of 57 per cent of Departments are mainly focusing on
Ministries to inclusive
the ensuredevelopment
“No one ofleft their behind”
Referencesand achieve the Sustainab
2 Funds spent for weaker
funds followed sectionofbetween
by Ministry Social 2014-15 to 2017-18 and
Justice
E for 2018-19 andand2019-20,
Empowerment and Development
Ministry target Goals (SDGs) by providing adequate resources throug
groups in convergence with other
of Tribal Affairs. line Ministries to ensure “No one left 1. India@75, Strategy document of
budgetary behind” interventions.
and achieve the The Crore implementing
Rs.Sustainable
in NITI Aayog Ministries/Departmen
Grand
ptt.
Actualthe
Over Expenditure continue to strive to ensure total
last six incurred
years, funds D e vRE
e l o p m e n BE
t G o a l sdirect
( S in and 2.
D G s ) quantifiable
Union Budgetbenefits
2015-16 toare 2019-delivered
allocated for nodal Ministries/ by providing adequatesixresources years 20, Expenditure Profile
2014-15 2015-16 2016-17 the 2017-18
target groups,
2018-19 so that the objective of Social Inclusion is achieved a
2019-20
Departments engaged in achieving through budgetary interventions. The
e&
social inclusion
5330.95 5752.74 is as follows:
6516.09
visualised
6747.02
by9963.25
the Prime
implementing Minister
Ministries/Departments
8,885.00 43195.05
of India.
3. This
Economicwould definitely
Survey 2019-20 lead India t
: Union Budget; Expenditure profile 4. Poverty Estimates 2004-05 & 2011-12, Planning Commission; and
5. Census 2011
n total all these Central Ministries have spent/spending Rs.
renewable resources
sustainability
E
of the living standards of billion tonnes. It has been the mainstay
citizens of any country and of the Indian electricity system so
instrumental in raising it. far and is likely to remain so in the Oil and Gas
The correlation between immediate future as well. Due to the As far as oil and gas is concerned,
per capita consumption vast availability of this fuel source, these resources in India are not
of electricity (a proxy for all energy it could remain the cheapest source adequate to meet its growing
forms) and Human Development Index of energy for India for a long time, requirement. Of the two, the price
(HDI), makes it the fundamental input if explored and used efficiently. It of oil has been much more volatile,
to any economic activity. Despite is the only energy source for which where the slightest increase puts
accounting for 18 per cent of the India is not dependent on imports tremendous pressure on the economy.
world’s population, India uses only (except coking coal used for steel Compared to oil, gas is cheaper and
around 6 per cent of the world’s making). The import of thermal coal more environment friendly. Though
can also be reduced to zero if a proper oil comprises 29 per cent of total
primary energy. The four primary
policy framework for exploration- primary commercial energy mix and
sources of energy are coal, oil, gas
cum-mining for commercial use is gas only 7 per cent, it is imperative
and renewable energy. Out of the four,
put in place. Coal is however not an that India’s dependence on oil and
India is well endowed in coal as well
environment friendly fuel compared gas as a source of energy is reduced to
as renewable energy sources including
to renewable energy and is likely the extent possible by encouraging a
bio-energy. to lose out in the long run. Though switch to other forms of energy, such
Coal when compared to renewable energy, as electricity which can be derived
particularly solar energy, thermal from renewable sources. Even then,
From an availability perspective, power plants take up only about 1/50th India would have to remain dependent
coal reserves in India have been of the land required for generation of on import for oil, as it cannot meet its
requirement from local sources. Our
endeavour in this regard necessitates
putting in place a policy framework
that limits the consumption of oil and
gas, especially oil, while encouraging
exploration and production of liquid
and gaseous hydro-carbon to meet
requirements indigenously as far as
possible. The prices of domestically
produced oil and gas would have
to necessarily remain linked with
Renewable Energy
The third source is renewable
energy from solar, wind, biomass,
hydro and more such sources. It is
also the most environment friendly.
Fortunately, being located in the tropics
endows us with virtually unlimited
potential of solar and wind energy. The
huge availability of biomass sources
in the form of crop residue, cattle
dung, human waste and food waste, Nuclear Energy The share of renewables in total
also present large scale opportunities Nuclear energy also constitutes
8QLRQ%XGJHW3RZHU6HFWRU
generation has increased from
for biomass based energy production. a significant part of the energy and 6 per cent in 2014-15 to 10 per
The prices of renewable sources, electricity mix. However, unless the
8QLRQ%XGJHWDOORFDWHV5VFURUHIRUSRZHUVHFWRUIRUWKLVILQDQFLDO\HDUZKLFKLVKLJKHUWKDQ
cent in 2018-19. India has been
particularly solar and wind, have cost of nuclear
5V reactors is
FURUH LQ FRPSDULVRQ WR controlled
ODVW ILQDQFLDO \HDU 7KH 015( VHFWRU JHW DOORFDWHG 5V
significantly, electricity generated undertaking one of the world’s
been reducing drastically and are now FURUH DQG SHWUROHXP VHFWRU 5V fromFURUH IRU WKLV ILQDQFLDO \HDU 7KH 8QLRQ %XGJHW IRU
almost at par with electricity generated nuclear reactors may not be as cost- largest renewable energy expansion
SRZHUVHFWRUIRFXVRQHOHFWULFLW\DFFHVV)ROORZLQJVDUHPDMRUDQQRXQFHPHQWLQWKHEXGJHW
using coal. However, the issue with effective as energy from renewable programmes in the world.
renewable energy is its volatility, sources. Government
(QHUJ\$FFHVV may consider
uncertainty and seasonality. Further, budgetary support for non-electricity at a significant cost) and undergo
7KH *RYHUQPHQW KDV
components. FRQWLQXHGa LWV
Methanol, IRFXVfuel
liquid RQ HQHUJ\ DFFHVV E\ VHWWLQJ D WDUJHW RI SURYLGLQJ DQ
solar energy, though at par with thermal regasification.
electricity in terms of cost, requires produced from natural gas or coal,
HOHFWULFLW\FRQQHFWLRQDQGDFFHVVWRFOHDQFRRNLQJIXHOWRDOOUXUDOKRXVHKROGVLQWKHFRXQWU\H[FHSW
more than 50 times the land to generate has ZKR
WKRVH the potential to significantly
DUH XQZLOOLQJ ,W FODLPHG WRalter Energy
DOUHDG\ KDYH Security
FRQQHFWHG RI WKH KRXVHKROGV XQGHU
the same quantum of electricity as the way gas or coal is used. Methanol
6DXEKDJ\DDQGJLYHQRXWFURUHV/3*F\OLQGHUVXQGHU8MMZDODVFKHPH
I m p r o v e d e n e r g y s e c u r i t y,
from thermal power plants. This can extracted from natural gas is likely
to bringWKHdown transportation costs normally associated with reduced
become a limiting factor, even though +RZHYHU FKDOOHQJH LQ HQHUJ\ DFFHVV LV QRW MXVW RI FRQQHFWLRQ EXW RI DFFHVVLELOLW\ DQG
compared to gas, which needs to dependence on imports, is also an
rooftops and farm land offer a solution. DIIRUGDELOLW\
Yet, while the issue of volatility be liquefied, transported in liquid important goal of the policy. Today,
and uncertainty is being addressed )RFXV
formRQatUXUDO
veryHQHUJ\
low DFFHVV (and 1HZIndia
DQG IDUPHUV
temperature is heavily dependent on oil
8MMZDODW\SH VFKHPH WKDW ZLOO SURPRWH VRODU
by a number of economical storage VWRYHV DQG EDWWHU\FKDUJHUV 3ULYDWHLQLWLDWLYHVZLOO EH VXSSRUWHGWR GHYHORS UHQHZDEOH HQHUJ\DVDQ
solutions, the problem of seasonality DOWHUQDWHVRXUFHRILQFRPHIRUIDUPHUV
may still limit the full exploitation of
this source. For this, the conversion )RFXV RQ GLVWULEXWLRQ UHIRUPV 3HUIRUPDQFH RI 8MZDO ',6&20 $VVXUDQFH <RMDQD 8'$< LV
of solar energy into hydrogen and EHLQJH[DPLQHG
methanol would have to be seriously
5HQHZDEOH(QHUJ\7KHUHQHZDEOHHQHUJ\LQGXVWU\H[SHFWHGWKH%XGJHWWRSURYLGHVRPHLPSHWXVWR
researched and made viable.
UHYLYHJURZWK+RZHYHUWKHUHLVQRWKLQJVSHFLILFLQWKH%XGJHWLQWKLVUHJDUG
Bio-Energy
Bio-energy can play a major role
in strengthening the energy basket
of India. Biogas derived from cattle
dung, human waste and vegetative
waste, can, to a very large extent,
provide cooking solutions which are
cheap and environment friendly. Being
cheaper, locally available and much
more environment friendly, it has the
potential to replace LPG in rural areas.
Biomass can also become the source of
bio-fuel which would help in reducing
the requirement of petroleum oil.
T
boost both consumption
and investment demand
Scheduled Commercial Banks The Budget speech emphasised
and this necessitates
(SCBs) and especially Public that financial gains from cleaning
Sector Banks are passing through of the banking system are now
strengthening the
transformation. Credit growth is in
entire banking sector
double digit for last two successive amply visible. NPAs of commercial
which comprises mainly scheduled
years (13.34 per cent in 2018-19 and banks have reduced by over Rs.
commercial banks and Non-Banking 10.42 per cent in 2017-18). At the 1 lakh crore over the last year,
Financial Companies (including
housing finance companies). The
same time as a result of Government's record recovery of over Rs. 4
4R's strategy of recognition, resolution,
Union Budget 2019-20 has tried recapitalisation and reforms, Non-
lakh crore due to Insolvency and
to provide impetus for all three. Performing Assets (NPA) of all SCBs Bankruptcy Code (IBC) and other
Most important aspect is that the (public and private) has declined by Rs. measures have been effected
provisions contained in the budget 1,02,562 crore to Rs. 9,33,625 crore as over the last four years, provision
address liquidity and regulation on 31st March, 2019.
issues together, thus ushering coverage ratio is now at its
comprehensive reform in the entire According to RBI’s Financial highest in seven years, and
banking sector. Stability Report (FSR), published in domestic credit growth has risen
to 13.8 per cent. Government has
smoothly carried out consolidation,
reducing the number of Public
Sector Banks by eight. At the
same time, as many as six Public
Sector Banks have been enabled
to come out of Prompt Corrective
Action framework.
YE-1188/2019
“
““
“
SPECIAL ISSUE
ISSN-0971-8400
Regd. No. RNI 949/57
No. Pages 84 Licenced U(DN)-56/2018-20 to post without
Published on 27 July 2019 pre-payment at RMS, Delhi (Delhi Post
Posted on 29-30 July 2019 Postal Regd. DL(S)-05/3230/2018-20
FOCUS
Fostering Youth to Take on Opportunities of the Future
Amitabh Kant
SPOTLIGHT
Water With a Capital ‘W’: The Way Forward
Parameswaran Iyer
SPECIAL ARTICLE
Transforming Urban India
Durga Shanker Mishra
Printed & Published by Dr. Sadhana Rout, Principal Director General on behalf of Publications Division, Soochna Bhawan,
C.G.O. Complex, Lodhi Road, New Delhi - 110 003. Printed at Chandu Press, D-97, Shakarpur, Delhi-110 092 Phone: 22424396, 22526936.