Subject: Economy

The Union Budget 2017-18 was presented with the transformative vision of "Transform, Energize and Clean India (TEC)", marking a significant shift towards sustainable and inclusive development through targeted fiscal interventions.

Transform India Initiatives

• The budget allocated ₹48,000 crore to MGNREGA to create sustainable rural assets with focus on constructing 1 million farm ponds by March 2017 and additional 500,000 in 2017-18, transforming rural infrastructure.
• Pradhan Mantri Awaas Yojana-Gramin received ₹23,000 crore to achieve the target of building 10 million houses by 2019, transforming rural housing landscape.
• Focus on 100% village electrification by May 2018, ensuring basic infrastructure reaches the last mile.

Energize India Measures

• Significant push for renewable energy with allocation of ₹4,000 crore for solar power initiatives to reduce dependency on conventional energy sources.
• Smart Cities Mission received ₹2,000 crore to energize urban infrastructure development and create sustainable cities.
• Enhanced focus on digital transactions and financial inclusion to energize the formal economy post-demonetization.

Clean India Programs

• The Namami Gange Programme was allocated ₹2,100 crore for:
  • Development of sewage treatment infrastructure.
  • Public awareness campaigns.
  • River cleaning initiatives.
• Swachh Bharat Mission received substantial funding of ₹1.34 lakh crore to improve sanitation infrastructure and promote cleanliness.

Way Forward Measures

• Integration of digital payments infrastructure to promote transparency.
• Focus on skill development and entrepreneurship to create employment opportunities.
• Emphasis on sustainable urbanization through improved waste management systems.

The Budget 2017-18 demonstrated a holistic approach towards achieving the TEC objectives through targeted interventions in rural development, urban infrastructure, and environmental sustainability. The success of initiatives like Swachh Bharat Mission and Smart Cities has shown that comprehensive fiscal planning can drive transformative change.