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Current affairs for Banking Exams PO : 1. Highlights of union budget 2017-18 presented by Finance Minister Arun Jaitley on February 1, 2017

a. The agenda of Budget speech was “Transform, Energise and Clean India” (TEC) - to transform the quality of governance for better quality of life.

 b. The Motive of this budget is to energise various sections of society, especially the youth and the vulnerable (exposed to the possibility of being attacked or harmed, either physically or emotionally) and to clean the country from the evils of corruption, black money and non-transparent political funding.
 c. First time Railway budget is included.

 d. In Budget for 2017-18 total expenditure has been placed at Rs. 21.47 lakh crores and this is expected to have multiplier effects and lead to higher growth.

 e. The total resources being transferred to the States and the Union Territories with Legislatures is Rs. 4.11 lakh crores in 2017-18.
 f. Defence expenditure excluding pensions stands at Rs. 2,74,114 crore.
 g. The fiscal deficit for 2017-18 has been announced at 3.2% of GDP.
 h. Revenue Deficit for next year is approved at 1.9% as against 2% mandated by the FRBM Act.
 i. The Government proposes to extend the number of Pradhan Mantri Kaushal Kendras from current 60 to cover more than 600 districts across the country.
 j. 100 India International Skills Centres will be established across the country. These centres would offer advanced training and also courses in foreign languages. This will help those of our youth who seek job opportunities outside the country.
 k. In the Financial Year 2017-18, a programme SANKALP (Skill Acquistion and Knowledge Awareness for Livelihood Promotion Programme) will also be launched at a cost of Rs. 4,000 crore. SANKALP will provide market relevant training to 3.5 crore youth.

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