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Rs 2000 crore for rural households for LPG connections

The FM stressed on digital literacy in rural household to target an additional six crore households while the government has targeted 100 percent village electrification by May 2018.

The FM made a allocation of Rs. 35,984 crore for farm sector while the Rs 38,500 is highest ever for MGNREGA. 

The FM allocated Rs 5000 crore for crop insurance schemes and Rs 60,000 crore for water resource management.

Rs. 17000 crore has been allocated for irrigation schemes in 2017 while the FM said he would ensure that farmers can earn double in next five years.

 He said the orex reserves are at highest level at $350 billion.

Arun Jaitley  said Rs 97,000 crore will be allocated for road infrastructure. He said Rs 55, 000 crore will be alone for roads and highways which will be matched further from other sectors. The total outlay for infrastructure is at Rs. 2,21,246 crores in 2016/17.

He said 85% of stalled road projects back on track.

The finance minister also announced to provide LPG cylinders to 1.5 crore households below the poverty line with an allocation of Rs 2,000 crore  for it.  

He said there is a target of 10,000 kms of national highway and upgradation of 50,000 kms of state highways in 2016/17.

 The ceiling for tax rebate is up by Rs 3000/- Ceiling of tax rebate for tax payers with up to Rs 5 lakh annual income is being raised to Rs 5000 from Rs 2000, said the Finance Minister.

He also gave relief to those who stay in rented houses. He said tax rebate on rent is up from Rs. 24,000 to Rs. 60,000 per annum. 

The Economic Survey 2015-16 presented in the Parliament on Friday by  Jaitley emphasized that Indian economy will continue to grow more than 7 percent for the third year in succession in 2016-17 helped by a normal monsoon, despite global meltdown.