“Forward ever, backward never: onwards with Breaking Through”
01/02/2017

Transfers and Postings of Sr. Manager/Manager, Mail Motor Service (MMS) Group'A'and Deputy Manager (MMS) Group'B'.

The highlights of Union Budget 2017

Finance Minister Arun Jaitley presented theUnion Budget 2017, his fourth annual budget, today. Here are the highlights of this year's budget: 

►Income Tax rate cut to 5 pc for individuals having income between Rs 2.5 lakh to Rs 5 lakh 

►10 pc surcharge on individual income above Rs 50 lakh and upto Rs 1 cr to make up for Rs 15,000 cr loss of due to cut in personal I-T rate 

►15 pc surcharge on income above Rs 1 cr to continue 

►Of 3.7 cr individuals who filed tax returns in 2015-16, 99 lakh showed income below exemption limit 

►Direct tax collection not commensurate with income and expenditure pattern 

►Revenue deficit reduced to 2.1 pc from 2.3 pc for 2016-17 

►Govt pegs fiscal deficit target at 3.2 per cent for 2017-18 and 3 per cent for next year. 

► Monetary policy to be expansionary in major economies 

► More steps will be taken to benefit farmers and the weaker sections; budget being presented during weak global economy 

►Pace of remonetisation has picked up;demonetisation effects will not spill over to next year 

►Functional autonomy of the railways to be maintained 

►Demonetisation will help in transfer of resources from tax evaders to government: 

►Merger of Railways Budget with General Budget brings focus on a multi-modal approach for development of railways, highways and inland water transport 

►Only transient impact on economy due to demonetisation; long term benefit include higher GDP growth and tax revenue 

►GDP will be bigger, cleaner after demonetisation 

►Effects of demonetisation not expected to spill over to the next year, says Finance Minister 


►Effects of demonetisation not expected to spill over to the next year, says Finance Minister 


►Govt took two tectonic policy initiatives - passage of GST Bill and demonetisation 

►Demonetisation was a continuation of series of measures taken by govt in 2 yrs; it is bold and decisive measure 

►We are seen as engine of global growth; IMF sees India to grow fastest in major economies

►36 pc increase in FDI flow; forex reserves at USD 361 billion in January enough to cover 12 months needs 

►CAD declined from 1 pc last year to 0.3 pc in first half of current fiscal: FM 


►India has emerged as bright spot in the world: FM 


►Uncertainty around commodity prices especially oil to have impact on emerging economies: FM 

►Double digit inflation has been controlled; sluggish growth replaced by high growth; war on blackmoney launched: FM 

►We have moved from discretionary based administration to policy based administration: FM Jaitley 

► Agricultural sector is expected to grow at 4.1 per cent this fiscal, says Jaitley 

►Demonetisation was a bold and decisive strike in a series of measures to arrive at a new norm of bigger, cleaner and real GDP 

►Committed to double farm income in 5 yrs 

►Plan, non-plan classification of expenditure done away with in the Budget for 2017-18 to give a holistic picture 

►Mini labs by qualified local entrepreneurs to be set up for soil testing in all 648 krishi vigyan kendras in the country 

►Budget presentation advanced to help begin implementation of schemes before onset of monsoon 

►We will continue the process of economic reform for the benfit of poor. 

►Spend more in rural areas, infra, poverty alleviation, while maintaining fiscal prudence as guiding principle of Budget 

►Our agenda for next year is to transform, energise and clean India 

►World Bank expects GDP growth rate at 7.6 pc in FY18 and 7.8 pc in FY19 

►Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore. This is highest ever allocation 

►Rs 9,000 cr higher allocation for payment of sugarcane arrears 

►Target of agriculture credit fixed at Rs 10 lakh cr in 2017-18 

►Tax administration honouring the honest is one of the 10 pillars of Budget 2017-18 

►National Testing agency to conduct all examinations in higher education, freeing CBSE and other agencies 

►133-km road per day constructred under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14 

►Govt to set up dairy processing fund of Rs 8,000 crore over three years with initial corpus of Rs 2,000 crore 

►1 cr households to be brought out of poverty under Antodya Scheme 

►Participation of women in MNREGA increased to 55 pc from 45 pc in past 

►Modern law on contract farming will be drafted and circulated to states 

►Dedicated micro-irrigation fund to be created with a corpus of Rs 5000 crore 

►Market reforms will be undertaken, states will be asked to denotify perishables from Essential Commodities Act 

►Space technology to be used for monitoring MNREGA implementation 

►Sanitation coverage in villages has increased from 42 pc in Oct 2016 to 60 pc, a rise of 18 pc, says FM 

►We propose to provide safe drinking water to 28,000 arsenic and fluoride affected habitations 

►To construct one crore houses by 2019 for homeless. PM Awas Yojana allocation raised from Rs 15,000 cr to Rs 23,000 cr 

►100 pc electrification of villages to be completed by May 2018 

►27,000 cr on to be spend on PMGSY; 1 cr houses to be completed by 2017-18 for houseless 

►PM Kaushal Kendras will be extended to 600 districts; 100 international skill centres to be opened to help people get jobs abroad 

►The allocation for rural agri and allied sector in 2017-18 is record Rs 1,81,223 crore 

►In higher education, we will undertake reforms in UGC, give autonomy to colleges and institutions 

►A system of annual learning outcome in schools to be introduced; innovation fund for secondary education to be set up 

►Two new AIIMS to be set up Jharkhand and Gujarat 

►New rules regarding medical devices will be devised to reduce their cost 

► 1.5 lakh health sub centres to be converted to Health Wellness Centres 

►National Housing Bank will refinance indiviual loans worth Rs 20,000 crore in 2017-18 

►Rs 500 cr allocated to set up Mahila Shakti Kendras; Allocation raised from Rs 1.56 lakh cr to Rs 1.84 lakh cr for women & child welfare. 

►Capital and development expenditure pegged at Rs 1.31 lakh cr for railways in 2017-18 from Budget 

►Allocation for SCs increased from Rs 38,833 cr to Rs 52,393 cr, a rise of 35 per cent 

►35 pc increase in allocation for SC to Rs 52,393 cr 

►For senior citizens, Aadhaar based health cards will be issued 

►Model Shops and Establishment Bill to open up additional opportunities for employment of women 

► Select airports in tier-II cities to be taken up for operations, development on PPP mode 

►New metro rail policy to be unveiled 

►Railway tariffs to be fixed on the basis of cost, social obligation and competition 

►Service charge on e-tickets booked through IRCTC will be withdrawn 

►Delhi and Jaipur to have solid waste management plants and five more to be set up later 

►Government proposes Coach Mitra facility to redress grievances related to rail coaches 

►500 stations will be differently abled by providing lifts and escalators 

►Unmanned railway level crossings to be eliminated by 2020 

►Railway line of 3,500 km will be commissioned in 2017-18 as against 2,800 km in 2016-17 

►Total allocation for rural, agri and allied sectors for 2017-18 is a record Rs 1,87,223 cr, up 24 per cent from last year 

►Rs 1 lakh cr corpus for railway safety fund over five years 

►A scheme for senior citizens to ensure 8 per cent guaranteed returns 

►Dedicated micro-irrigation fund to be set up by NABARD to achieve mission of Per Drop, More Crop 

►Digi Gaon will be launched to promote tele-medicine and education 

►Crude oil strategic reserves to be set up in Odisha and Rajasthan apart from 3 already constructed 

►Coverage of Fasal Bima Yojana to go up from 30 pc of cropped area to 40 pc in 2017-18 and 50 per cent next year 

►For transport sector, including railways, road and shipping, government provides Rs 2.41 lakh crore 

►Allocation of Rs 10,000 cr for Bharat Net project for providing high-speed broadband in FY18 

►Allocation for national highways stepped up to Rs 64,000 cr from Rs 57,676 cr 

►Budget allocation for highways stepped up to Rs 64,000 crore in FY18 from Rs 57,676 crore 

►Dispute resolution in infrastructure projects in PPP mode will be institutionalised 

►Rs 2,74,114 crore allocated for defence expenditure, excluding pension; This includes Rs 86,000 crore for defence capital 

►Govt to further liberalise FDI policy 

►Over 90 per cent of FDI proposls are now processed through automatic route 

►FIPB will be abolished 

►Trade Infrastructure Export Scheme to be launched in 2017-18; total allocation for infra at record Rs 3.96 lakh cr 

►Second phase of solar power development to be taken up with an aim of generating 20,000 MW 

►After demonetisation on Nov 8 last year, deposit of between Rs 2 lakh and Rs 80 lakh made in 1.09 cr bank accounts at an average of Rs 5.03 lakh till Dec 30 

►More funds beyond Rs 10,000 cr for recapitalisation of banks will be provided if needed 

►The shares of railway CPSCs like IRCTC and IRFC to be listed on various stock exchanges 

►We are largely a tax non-compliant society 

►New ETF with diverse stocks will be launched in 2017-18 

►Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried 

►Integrated public sector oil major to be created to match global giants 

►Govt will amend the Multi-state Cooperative Act to protect the poor and gullible investors 

►Urgent need to protect poor from chit fund schemes, draft bill placed in public domain 

►Computer emergency response team to be set for cyber security of financial sector 

► Govt to introduce two new schemes to promote BHIM App - referal bonus for users and cash back for traders 

►Govt doubles distribution target under Mudra Yojana to Rs 2.44 lakh crore for 2017-18 

►Over Rs 80 lakh deposits in 1.48 lakh cr at an average of Rs 3.31 cr per account 

►Customs duty on LNG halved to 2.5 pc 

►FPI to be exempt from indirect transfer provisions 

►Political parties can receive donations in cheque, electronic mode; electoral bonds to be issued by RBI 

►Maximum amount of cash donation a political party can receive will be Rs 2000 from any one source as part of effort to clean political funding 

►Capital expenditure stepped up by 25.4 pc in FY18 over previous year 

►Total expenditure in FY18 at Rs 21.47 lakh cr

►Duty exempted on various POS machines and iris readers to encourage digital payments

►Rs 7,200 cr revenue loss due to reduction in tax on smaller companies 

►Govt mulling introduction of legal changes to confiscate assets of offenders, including economic offenders, who flee the country 

►Govt to set up a web-based interactive platform for defence pensioners 

►Head post offices to issue passports 

►Govt considering option to amend Negotiable Instruments Act to ensure that holders of dishonoured cheques get payment 

►FRBM review committee has recommended 60 pc debt to GDP ratio; 0.5 pc of GDP deviation from stipulated fiscal deficit targets 

►Payment regulatory board to be set up in RBI to regulate electronic payments, replacing Board for Regulation and Supervision in Payments and Settlements System 

►3 yr period for long-term capital gains tax on immovable property reduced to 2 years; base year indexation shifted from 1.4.1981 to 1.4.2001 

►A proposal to receive all government receipts beyond a certain threshold through e-modes under consideration 

►GST implementation to bring more taxes to Centre and states 

►No transaction above Rs 3 lakh in cash will be allowed as suggested by SIT 

►Customs duty on LNG to be reduced from 5 pc to 2.5 pc 

►To make MSME companies more viable, govt proposes to reduce IT tax with annual turn over of Rs 50 core up to 25 per cent 

►I-T for smaller cos with turnover of upto Rs 50 cr up to 25 per cent 

►Not possible to remove MAT levied on advance tax for now; carry forward allowed for 15 yrs instead of 10 yrs 

►Relaxation in norms for Start Ups for getting tax exemption 

►Capital gains tax exempted for the land pooled to build new capital of Andhra Pradesh effective from 2.6.2014 

►Increase in personal tax collections is 34.8 per cent in last three quarters. Demonetisation has played a role 

►17 pc growth in direct tax revenue for the second year in a row in 2016-17 

►As against 4.2 crore people working in organised sector, only 1.74 crore individuals filed income tax returns 

►Solar tempered glass used for manufacture of solar cells/panels exempted from customs duty 

►Import duty on aluminium ores and concentrates raised to 30 pc from nil presently 

►Actual revenue loss on tax proposals Rs 22,700 cr; gain from additional resource mobilisation is Rs 2,700 cr 

►Net revenue loss from direct tax proposals to be about Rs 20,000 cr 

►Excise duty on pan masala containing tobacco (Gutkha) raised to 12 pc from 10 pc 

►Excise duty on non-filter cigarettes of length not exceeding 65 mm raised to Rs 311 per thousand from Rs 215 per thousand

POSTAL DEPARTMENT BECOMES SMART WITH CSI TECHNOLOGY

Pilot project in Pune City East Division offers reliable mail delivery services by improving online tracking system

Now, tracking letters or documents sent by the post offices will become easier. The postal department has started the Core System Integration (CSI) as part of its IT modernisation project. This is the first time in Pune that regional post offices have been chosen for this initiative.

The postal department has picked the Pune City East Division for the pilot roll-out. CSI is an integrated system that includes counter operations, delivery operations, financial activities and human resource management. The CSI is designed to augment the service delivery efficiency of the post offices.
Ganesh V Sawaleshwarkar, postmaster general of Pune Region, informed, “With the implementation of CSI, Pune will have the distinction of implementing all modules of the IT modernisation project — core banking solution, core insurance solution, core system integration and rural information and communications technology. So far, the department would use different systems for various functions. With CSI, there will be one system and hence the work will be streamlined. We will be able to provide better services to the customers.”

Once the documents are sent, a notification will be available to know when it can be expected to reach the recipient. The sender can also track the stage of delivery by using the verification code, which will be generated by the postal office.

Cheering the initiative, Neshrul Ansari (35), a Lohegaon resident, said, “I received a document on Friday morning, which was sent on Sunday by my friend based in Nagpur. Nearly five hours later, my friend received a message on the phone that the package has been delivered. I am very pleased with the service.”

Delivery boys, who are under constant pressure to transport documents or other packages on time as well as furnish proof about the same to their seniors, are heaving a sigh of relief after this development.

Chirag Bhairavkar, who works for Lohegaon Post Office, shared, “Earlier, we used to put packages in the letter box of the recipient. Sometimes, if the documents did not reach the correct recipient, then they would come to the post office and create a ruckus. With the notifications on phone, the process becomes simpler for all.”