Budget Speech
Budget Speech
Budget Speech
Address by the President of India, Shri Pranab Mukherjee to the Joint Session of both houses
of Parliament
Honourable Members,
1. In this New Year full of aspirations and hope, I welcome you to the Joint Sitting
of the Two Houses of the Parliament with the belief that your deliberations will be
productive and useful.
2. Dr. Shyama Prasad Mukherjee had said, the greatest strength of India is her rich
spiritual and civilizational heritage. The core values of our civilization emphasize
universal good - welfare of all human beings. The fundamental tenet of my
Government is Sabka Saath Sabka Vikas All Together, Development of All. Within a
span of nine months, my Government has articulated and embarked on a
comprehensive strategy for unleashing the full potential of our country and its
precious resource of 125 crore people. Measures have been initiated to stir action in a
range of fields from sanitation to smart cities, poverty elimination to creation of
wealth, skill development to conquering space, tapping demographic dividend to
diplomatic initiatives, enhancing ease of doing business to putting in place a stable
policy framework, empowering individuals to ensuring quality infrastructure, ending
financial untouchability to making the country a manufacturing hub, containing
inflation to stimulating economy, igniting minds to ensuring inclusive growth,
promoting cooperative federalism to encouraging a competitive spirit among the
states. A strong beginning has been made. A promising future awaits us.
Honourable Members,
3. Poverty is a bane to dignified human existence. Development is actualized only
when the last person gets a sense of fulfillment, especially, regarding his minimum
needs. Pandit Deendayal Upadhyaya had laid emphasis on holistic development of each
and every human being - Ekatm Manavata darshan (Integral Humanism). My
Government is pledged to work for the welfare of the poor, the marginalized and the
vulnerable sections of the society.
4. Financial inclusion is critical to poverty elimination. My Government launched
an ambitious Pradhan Mantri Jan Dhan Yojana to provide universal access to banking
facilities a bank account, having in-built accidental insurance with a Rupay debit card. I am
happy to state that the coverage under the scheme is close to 100% with a record 13.2 crore new
bank accounts being opened, 11.5 crore Rupay debit cards being issued and over ` 11,000 crore
being deposited. This unprecedented target was achieved in less than six months, making it the
largest such programme globally.
5. To ensure that the benefits of developmental programmes reach the last
intended beneficiary without leakages and impediments, Direct Benefit Transfer
Programme is being implemented with renewed vigour. The biggest Direct Cash
Transfer programme in the world, P A H A L , for transfer of LPG subsidy, has
been extended across the country from 1 st January, 2015, so far covering 75% of the
user-households. In all, 35 schemes have been brought under Direct Benefit Transfer
architecture. Special emphasis is attached to make Aadhar enrolment coverage
universal.
Honourable Members,
6. Swachhata is an article of faith for my Government. Swachhata will have an
overarching impact on the overall quality of life and well-being of a person,
particularly the poor. Swachh Bharat Mission has been launched to achieve a Clean and
Open Defecation Free India by October, 2019. Government has rolled out Swachh
Vidyalaya programme and is committed to construct a toilet in every school before
15 th August, 2015. Swachhata has a cascading impact on national development and the
potential to generate wealth from waste. Sanitation and the idea of Swachhata require
changing the mindset of the people. My Government exhorts each and every individual
to be an active participant in this mission. I appeal to all honourable Members of
Parliament to spend at least fifty percent of their MPLADS funds on Swachh Bharat
Mission.
7. India lives in her villages. My Government attaches the highest priority to
sustainable socio-economic growth of rural areas. MGNREGS can be a powerful
weapon to combat rural poverty. While implementing MGNREGS with renewed vigour,
emphasis is being placed on improving quality and durability of assets under the
programme, besides mandating that at least sixty percent of expenditure be directed
for creation of agricultural infrastructure. In keeping with my Governments focus on
Skill India, Deen Dayal Upadhyaya Grameen Kaushal Yojana and Deen Dayal
Upadhyaya Antyodaya Yojana have been announced. Saansad Adarsh Gram Yojana
launched in October 2014, focuses on integrated and holistic development of our
villages with active involvement of Members of Parliament.
8. Housing is a fundamental requirement for dignified living. My Government is
steadfast in fulfilling the aspirations of all households, particularly the poorest of the
poor, to have a dwelling unit under the Mission Housing for All by 2022, marking
75 years of our independence. A set of fiscal and non-fiscal incentives have been
devised to leverage the value of land holding with government and to afford flexibility
to State Governments in designing their own customized housing programmes. To aid
investment in housing sector, my government has liberalized FDI policy; increased tax
incentives for housing loans and enhanced the corpus of National Housing Bank.
Honourable Members,
13. Education is the priority of priorities for my Government. Padhe Bharat Badhe
Bharat has been launched to improve foundational learning outcomes. An initiative to
map the entire country on a GIS platform to identify habitations without schools, has
been taken. Pandit Madan Mohan Malviya National Mission on Teachers and
Teacher Training has been launched to empower and increase the capacity of
teachers. The Rashtriya Avishkar Abhiyan has been announced to imbibe scientific
temper among students. To ensure access to education in the remotest areas, Ishan
Vikas and Ishan Uday schemes have been started with focus on students of NorthEastern regions. My Government has formulated National Sports Talent Search
Scheme for encouraging sporting talent amongst children in the age group of 8 to 12
through National Sports Development Fund and Target Olympic Podium.
14.
India has the largest population of youth in the world. Majority of her
population is already in the working age group. To tap this demographic dividend and
to bridge the demand-supply gap in skilled workforce, my Government has created a
new Ministry of Skill Development and Entrepreneurship with the theme Hunar hai to
Kalyan hai. A new National Policy for Skill Development and Entrepreneurship is
on the anvil to align skilling initiatives with global standards. Focus will be on the
youth from deprived households in rural areas. Public-Private Partnership is being
fostered to create skill development models and channelize CSR funds into skilling
activities.
Honourable Members,
15. My Government is committed to providing affordable and accessible health care
to all its citizens, particularly the vulnerable sections, in an efficient and equitable
manner. To reduce preventable deaths, India New Born Action Plan has been
initiated and four new vaccines have been approved. Mission Indradhanush has
been launched to achieve universal immunization with special focus on 184 high
priority districts across the country. To create an inclusive, enabling and empowering
environment for Persons with Disabilities, my Government has launched new
scholarship schemes for students with disabilities. A national help line with toll free
number has been launched for those who need help against drug de-addiction and for
rehabilitation.
16. My Government has recently elevated the erstwhile department of AYUSH to a
full-fledged Ministry with an objective to increase the global and local footprint of the
traditional systems of healthcare, duly recognizing that our villages have been the
repositories of our rich Ayurvedic heritage. National AYUSH Mission has been
launched to promote cost effective AYUSH services, strengthen the education system
and facilitate availability of quality AYUSH drugs.
Honourable Members,
17. Women have had a place of reverence in our society since time immemorial. My
Government has taken several measures to empower and protect the dignity of
women. To provide complete support to women affected by violence, One Stop Crisis
Centres, one in every State, are being set up for provision of integrated services
including medical aid, police assistance, temporary shelter, and legal and psychosocial counseling. Another initiative has been the launch of Himmat, a mobile based
application, to ensure womens safety in Delhi.
18. The unabated decline in Child Sex Ratio since 1961 is a matter of grave concern.
This trend has to be reversed. To ensure survival, protection and education of the girl
child, my Government has launched Beti Bachao, Beti Padhao Abhiyaan, which seeks
to change mindsets to celebrate the girl child. A new small saving scheme Sukanya
Samriddhi Account has been notified for enabling the education of the girl child. A
Bill to amend Juvenile Justice Act has been introduced in Parliament to reform the law
relating to juvenile offences.
Honourable Members,
19. Shramik is the backbone of our economy. My Government believes in Shrameve
Jayate and has taken several labour welfare measures. Apprentice Protsahan Yojana
has been launched to promote apprentices in Micro, Small and Medium Enterprises in
manufacturing sector. EPF subscriptions have been made portable benefiting casual
workers in the unorganized sector. Under the Employees Provident Fund Act, the
statutory wage ceiling and the minimum pension have been enhanced to ` 15,000/- and
` 1,000/- respectively. While my Government is fully committed to expand the job
market and to promote the welfare of workers, it is also committed to bringing in
transparency and accountability in enforcement of labour-related regulations. To this
end, the Shram Suvidha Portal has been launched to ensure ease of doing business by
allowing industry to register online and file a single online return instead of 16
separate returns. A transparent online inspection scheme has been launched. Recent
amendments to the Apprentices Act, 1961 have made the legal framework friendly to both industry
and employable youth.
Honourable Members,
20. Legal reform is one of the priorities of my Government.
My Government believes that Governance and reforms are a combined effort of Team
India, consisting of the Parliament, Union Government, State Legislatures, State
Governments and the People of India. An example of this collaborative effort is the
reform in the process of appointment of Judges to the High Courts and Supreme Court
and the legislation to set up National Judicial Appointments Commission. The
Government is also committed to repeal the obsolete and redundant laws. A Committee
constituted for this purpose has identified 1741 Central Acts for repeal under various
categories.
21. Maximum Governance Minimum Government is the guiding principle of my
Government. With an aim to take Governance to the doorstep of the poorest of the
poor in remotest areas, focus is on simplification of official procedures and reducing
the decision-making levels in Government by leveraging technology. The system of
Group of Ministers has been dispensed with and emphasis is on swift decision-making.
While introducing stricter and sterner measures to deal with corruption; effort is
being made to ensure that sufficient safeguards are in place to protect bona fide
decisions taken in public interest and to inspire confidence in the civil service.
22.
bring in Goods and Services Tax that will simplify the indirect tax regime, broaden
the tax base and result in better tax compliance.
Honourable Members,
27. My Government is committed to taking all possible measures to stop generation
of black money, both domestically and internationally. These measures include putting
in place robust legislative and administrative frameworks, systems and process with
due focus on capacity building, integration of information through technology, and
fast tracking prosecution.
28. Financial Sector institutional restructuring is a priority area. My Government
will expedite implementation of the recommendations of the Financial Sector
Legislative Reforms Commission. SEBIs new Foreign Portfolio Investment Regulations
have established a unified, simple regulatory framework. The Insurance Laws
(Amendment) Ordinance, 2014 was promulgated enhancing the foreign equity cap from
26% to 49% while safeguarding Indian ownership and control. This will enhance
capital availability and ensure better access to insurance services, especially in rural
areas and for economically weaker sections. Small Banks and Payments Banks are
being permitted to expand the reach of the banking system.
Honourable Members,
29. My Government has taken major initiatives for improving Ease of Doing
Business through simplification and rationalization of existing rules and procedures.
Leveraging IT and use of modern technologies is a key strategy. Single window in a
Hub - Spoke model is being made a reality. Applying for Industrial License and
Industrial Entrepreneur Memorandum can now be done online on 24x7 basis on the
eBiz website. A number of entry and exit regulations have been eased out.
30. My Government has launched the Make in India programme which aims to
create a wholesome eco-system to transform India into a manufacturing hub. FDI in
Railways has been opened up selectively to bring in much needed capital, state-of-theart technology and global best practices. FDI in Defence has been increased to 49%
subject to certain conditions. FDI norms in Construction & Development sector have
been relaxed. Continuous evaluation of Inverted duties is being undertaken to make
Indian industries competitive. Stress is being laid on research and innovation. While
focusing our attention on manufacturing for creating more jobs, my Government will
continue to work on our formidable strength in the service sector.
Honourable Members,
31. My Government is committed to realizing the true potential of entrepreneurs of
India by nurturing the MSME sector. 21 MSME clusters are being supported by
providing soft skills and common facilities through 965 interventions. Khadi and
village industries and traditional industries clusters are initiated in border, hill and
poverty-stricken areas of the country. Focus is on technology upgradation, better
Several policy initiatives to revive the Highway sector have been taken.
Sagar Mala Project to promote Port-led development of the coastal regions and
communities. As part of Make in India initiative, ship designing capabilities, shipbuilding and ship-repair activities will be strengthened. An environment is being
created to increase the Indian shipping tonnage and to reduce the transaction time on
ports. An institutional arrangement for comprehensive development of National
Waterways for transportation has been envisaged through the Jal Marg Vikas Project.
Honourable Members,
37. Power sector has made commendable progress achieving 76% capacity addition
by January, 2015 against the 2014-15 target of 17,830 MW. In order to provide 24x7
quality power in rural and urban areas, the Deendayal Upadhyaya Gram Jyoti Yojana
with an outlay of more than ` 43,000 crore and the Integrated Power Development
Scheme with an outlay of more than ` 32,600 crore, have been launched. Special
attention is being paid to the un-electrified villages in remote areas. My Government
has started major project for improving transmission and distribution system in the
North Eastern States. We will focus on developing and strengthening the National Grid
by developing high capacity power corridors. To deepen the reforms in the Electricity
sector, the Electricity (Amendment) Bill 2014 has been introduced. The ambitious
National Smart Grid Mission and Energy Saving Schemes have been started.
38. My Government lays enormous emphasis on clean energy. The share of renewable
energy in electricity generation is being significantly enhanced from 6% to 15% of the
energy mix in the next 7 years. The scheme for setting up 25 mega Solar Parks has
been approved. The implementation of the Green Energy Corridor Scheme has been
accelerated. Setting up of solar generating capacities along the international borders
will be a key area of attention. My Government has made successful efforts in
attracting the Global investors in this sector. Similar attention is being paid to biomass and hydro-energy. Government will further expand Indias nuclear power
capacity with the highest global standards of safety and technological standards.
Honourable Members,
39.
The petroleum sector has seen major reforms. Diesel prices have been
deregulated and are now market driven. The price of petrol has also been decreased by
more than ` 17 per litre. The Government has put to rest all speculation regarding the
long pending issue of revising gas prices and put in place a prudent policy in national
interest. The ethanol policy has been revised to promote use of ethanol in petrol and
help sugarcane farmers.
40. My Government is committed to optimum utilization and transparency in
allocation of natural resources. The process for auction of coal blocks has been started
in a manner which will reduce the power costs in the country, provide adequate fuel
to increase power generation, enhance production of steel, cement, aluminium and
other essential materials. This will also provide huge resources from allotment of
mines to the mineral and coal bearing states particularly in eastern areas for
accelerated development of the region. The swift and timely action taken by my
government in this regard prevented the closure of mines which otherwise would have
rendered thousands jobless. In coming years, my Government would make focussed
efforts to expand exploration capacity and to increase domestic coal production to
1000 MTPA.
Honourable Members,
41. Water is the lifeline of human civilization. River Ganga has a very special place
in the collective consciousness of our country. Namami Gange, an Integrated Ganga
Conservation Mission has been set-up with budgetary allocation of more than ` 2000
crore. The Government is fully committed to the implementation of Interlinking of
Rivers Project with due consultation process.
42. My Government took several proactive steps for protecting wildlife and for
promoting cleaner environment. Stringent emission norms for cement industry were
prescribed. Real-time online monitoring of industrial units in 17 critically polluting
sectors was started and National Air Quality Index launched. Compensatory
Afforestation Fund Management and Planning Authority (CAMPA) would be
strengthened and adequate funds released to States/UTs for aggressive afforestation
and wildlife protection. Government has taken significant steps to streamline
clearance processes in environmental sector by bringing in transparency and by
empowering State Governments. Online application processes for Environment, Forest
and CRZ Clearances were introduced from July, 2014.
Honourable Members,
43. To harness the enormous potential in the tourism sector, a new Tourism policy
for growth and sustainability of tourism is on the anvil. Tourist Visa on Arrival
enabled with Electronic Travel Authorization, has been expanded to 44 countries.
Infrastructure and amenities are being upgraded in major tourist and pilgrimage
destinations. River Ghats in several pilgrim destinations are being renovated. A special
initiative for protecting and preserving the sanctity of our tourist destinations and
monuments of national heritage has been launched. Dedicated tourist trains covering
Jyotirling Circuits, Sukhmangal Circuit and Dakshin Dham Circuit have been
started. A new scheme has been launched for development of tourist circuits called
Swadesh Darshan, which includes Krishna Circuit, Himalayan Circuit, Coastal
Circuit, Buddha Circuit, and North East Circuits. A Statue of Unity is being constructed
to commemorate the memory of Sardar Patel.
Honourable Members,
44. My Government is committed to restore and rejuvenate the soul of cities that are
home to rich cultural heritage of our country. A scheme Heritage Development and
Augmentation Yojana (HRIDAY) covering 12 cities in the first phase has been
launched with the predominant objective of preserving the tangible and intangible
cultural assets of these cities. A special scheme called PRASAD - Pilgrimage
Rejuvenation and Spirituality Augmentation Drive - has been announced for
rejuvenation of
12 pilgrim centres in convergence with HRIDAY.
Honourable Members,
45. Terrorism and Left Wing Extremism pose a grave challenge to the internal
security of our nation. My Government is firmly committed to deal with these
challenges in cohesive collaboration with the affected people and Governments of the
affected States in a holistic manner.
46. Jammu & Kashmir occupies a place of enormous importance in the agenda of my
Government. Government has endeavoured to create a conducive and enabling
environment in the state of Jammu and Kashmir, especially for the various displaced
segments of its population. This includes facilitating the rehabilitation of over 60,000
Kashmiri Pandits families. The Government has taken effective steps in this regard.
These include, inter alia, providing Government jobs, economic opportunities and
security. During the recent unprecedented flood situation in the State, my Government
made special efforts in collaboration with the State Government to minimize the
impact of disaster and augment rehabilitation measures. The nation is deeply indebted
to our armed forces and paramilitary forces for the outstanding service rendered
during the relief operations to flood affected people in Jammu & Kashmir.
47. A high state of Disaster preparedness is the key to contain loss of life and
damage to the property due to any natural disaster. This has been amply demonstrated
during the response to the very severe cyclone HUDHUD, by the State Governments of
Andhra Pradesh and Odisha together with the Central Government.
48. My Government is committed to implement the idea of SMART Police (Smart but
Sensitive, Modern and Mobile, Alert and Accountable, Reliable and Responsive, Techsavvy and well Trained) to provide efficient, courteous and effective citizen services
and meet the operational needs of the police personnel including women police
personnel.
49. Government is accelerating the modernization of our Armed Forces, with a
strong emphasis on Make in India in defence acquisition plans. Several initiatives
have been taken to expand domestic defence industry, including liberalization of FDI
for the defence sector; a new Defence Exports Strategy; a liberalized process for
issuing clearances for defence exports; and a Technology Development Fund. To
encourage domestic manufacturing of defence equipments and decrease import
dependency, the list of Defence items which require industrial licensing has been
pruned.
Honourable Members,