Dear Friends,
The Union Budget presented on Wednesday by the Finance Minister, Mr. Arun Jaitley, has paved the way for further development of common man and overall progress of the country. This budget can be termed as a development oriented budget especially for farmers, rural development, youth and the poor. On careful examination of the provisions, we can see that the possibilities of the development of co-operative sector are very bright.
Firstly, the Government has provided relief to the common man by removing tax liability on income up to Rs. 2.5 lakh and reducing the rate of taxation to 5 percent for income between Rs. 3 lakh and 5 lakh. These provisions are aimed at increasing savings by which the co-operative sector will also be benefited equally.
In the next five years, the Government plans to double the income of farmers, for which they will be given loans to the tune of Rs. 10 lakh crore. Additionally, interest for 60 days will also be waived.
40 percent farmers will get loans from co-operative societies. The coverage of Crop Insurance Scheme has also been increased by 40%. Rs. 48 thousand crore has been allocated as budget for MNREGA. This is so far the biggest allocation for MNREGA. 5 lakh ponds will be additionally created through MNREGA during 2017-18. It is noteworthy that the contribution of women under MNREGA is 55%. This provision will definitely work towards strengthening the rural economy. Significantly, Adarsh Credit Co-operative has a very strong network in the rural areas as well. An increase in the earnings of rural population, coupled with an increase in their savings and economic growth will create new business opportunities for you.
Further, there will be provisions by the Union Budget state to provide high-speed broadband services to 1,50,000 gram panchayats. Also, Rs. 10 thousand crore has been allocated for the Bharat Net project. This will prove to be a new communication revolution in rural areas. It will give newer heights to the extension and growth of our Adarsh Mobile Money Application.
According to the budget proposals, no service charges will be levied on booking tickets through IRCTC. The main objective behind these efforts is to promote digital economy. We have already been making efforts in this direction and have achieved desired results with all your active support and contribution.
The Government has been continuously promoting affordable housing and a target of constructing 1 crore houses by 2019 has been set. The Government has announced Sankalp schemes to create new employment opportunities and 3.5 crore youths will be provided market relevant training for the same. Government has allocated Rs. 4000 crore for this work. Apart from this, Rs. 1.84 lakh crore has been provisioned for development of women and children. Rs. 69,400 crore has been allocated for highways. Also, provision of Rs. 2, 41,387 crore has been made for transport. This will strengthen the growth of basic infrastructure of the country. It was also shared that Rs. 3,96,135 crore will be spent on infrastructure development. All these measures aim at increasing the availability of resources and helping to speed up the rate of economic development.
Aadhar based smart cards will be issued to senior citizens, which will maintain their health-related records. During its 19th Foundation Day celebration event, Adarsh Credit has already announced this type of plan of linking it with mobile and its work is under progress.
Passports will now be issued by post offices. Also, you can take advantage of them as collection centers. The Finance Minister said that India is on the verge of digital revolution. Banks will be motivated to start 20 lakh new Aadhar based POS by March 2017. Cashback and referral bonus schemes will be launched and digital payment schemes through post office will be launched. All these efforts are aimed towards promoting cashless transactions and we have already been working upon it since the year 2014. In the Northeast India, the Government is focusing upon the development of the farmers and the youth, whereas you might be aware that through the Business Correspondent model, we are tirelessly working towards creating new employment opportunities in this area.
The Government has proposed to make favorable amendments in the Multi State Co-operative Societies Act and the Negotiable Instruments Act, which will help to promote credit co-operative societies and financial co-operative sector. The co-operative sector will be strengthened and the curb on black money will pave the way to increased security of investors and their hard earned money.
Regards,
Rahul Modi
The Union Budget presented on Wednesday by the Finance Minister, Mr. Arun Jaitley, has paved the way for further development of common man and overall progress of the country. This budget can be termed as a development oriented budget especially for farmers, rural development, youth and the poor. On careful examination of the provisions, we can see that the possibilities of the development of co-operative sector are very bright.
Firstly, the Government has provided relief to the common man by removing tax liability on income up to Rs. 2.5 lakh and reducing the rate of taxation to 5 percent for income between Rs. 3 lakh and 5 lakh. These provisions are aimed at increasing savings by which the co-operative sector will also be benefited equally.
In the next five years, the Government plans to double the income of farmers, for which they will be given loans to the tune of Rs. 10 lakh crore. Additionally, interest for 60 days will also be waived.
40 percent farmers will get loans from co-operative societies. The coverage of Crop Insurance Scheme has also been increased by 40%. Rs. 48 thousand crore has been allocated as budget for MNREGA. This is so far the biggest allocation for MNREGA. 5 lakh ponds will be additionally created through MNREGA during 2017-18. It is noteworthy that the contribution of women under MNREGA is 55%. This provision will definitely work towards strengthening the rural economy. Significantly, Adarsh Credit Co-operative has a very strong network in the rural areas as well. An increase in the earnings of rural population, coupled with an increase in their savings and economic growth will create new business opportunities for you.
Further, there will be provisions by the Union Budget state to provide high-speed broadband services to 1,50,000 gram panchayats. Also, Rs. 10 thousand crore has been allocated for the Bharat Net project. This will prove to be a new communication revolution in rural areas. It will give newer heights to the extension and growth of our Adarsh Mobile Money Application.
According to the budget proposals, no service charges will be levied on booking tickets through IRCTC. The main objective behind these efforts is to promote digital economy. We have already been making efforts in this direction and have achieved desired results with all your active support and contribution.
The Government has been continuously promoting affordable housing and a target of constructing 1 crore houses by 2019 has been set. The Government has announced Sankalp schemes to create new employment opportunities and 3.5 crore youths will be provided market relevant training for the same. Government has allocated Rs. 4000 crore for this work. Apart from this, Rs. 1.84 lakh crore has been provisioned for development of women and children. Rs. 69,400 crore has been allocated for highways. Also, provision of Rs. 2, 41,387 crore has been made for transport. This will strengthen the growth of basic infrastructure of the country. It was also shared that Rs. 3,96,135 crore will be spent on infrastructure development. All these measures aim at increasing the availability of resources and helping to speed up the rate of economic development.
Aadhar based smart cards will be issued to senior citizens, which will maintain their health-related records. During its 19th Foundation Day celebration event, Adarsh Credit has already announced this type of plan of linking it with mobile and its work is under progress.
Passports will now be issued by post offices. Also, you can take advantage of them as collection centers. The Finance Minister said that India is on the verge of digital revolution. Banks will be motivated to start 20 lakh new Aadhar based POS by March 2017. Cashback and referral bonus schemes will be launched and digital payment schemes through post office will be launched. All these efforts are aimed towards promoting cashless transactions and we have already been working upon it since the year 2014. In the Northeast India, the Government is focusing upon the development of the farmers and the youth, whereas you might be aware that through the Business Correspondent model, we are tirelessly working towards creating new employment opportunities in this area.
The Government has proposed to make favorable amendments in the Multi State Co-operative Societies Act and the Negotiable Instruments Act, which will help to promote credit co-operative societies and financial co-operative sector. The co-operative sector will be strengthened and the curb on black money will pave the way to increased security of investors and their hard earned money.
Regards,
Rahul Modi
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