Finance minister Arun Jaitley presented the Union Budget 2017-18 in the Lok Sabha today. Here are the highlights of the Union Budget:

*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 

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

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

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

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

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

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

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

*133-km road per day constructed 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 

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

*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 spent 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 agriculture and allied sector in 2017-18 is record Rs 1,81,223 crore 

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

* 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 

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