Finance Minister Arun Jaitley, while presenting his fourth Budget, announced a massive push on rural spending and some quite big tax cuts.
His move to maintain a status quo on long-term capital gains was received well by the stock markets. However, Jaitley quietly skipped any reference in the Budget to the poll-bound five states – Uttar Pradesh (UP), Goa, Manipur, Uttarakhand and Punjab – probably not giving opposition parties and the election commission any reason to complain.
Sensex, Nifty close sharply higher on FM Arun Jaitley's 'fiscally prudent' Budget
Meanwhile, certain states did find a mention in the Budget for one reason or another. Here're the references:
Andhra Pradesh: "The new capital for State of Andhra Pradesh is being constructed by innovative land-pooling mechanism without use of the Land Acquisition Act. I propose to exempt from capital gain tax, persons holding land on 2.6.2014, the date on which the State of Andhra Pradesh was reorganised, and whose land is being pooled for creation of capital city under the Government scheme."
Odisha and Rajasthan: "For strengthening our Energy sector, Government has decided to set up Strategic Crude Oil Reserves. In the first phase, 3 such Reserves facilities have been set up. Now in the second phase, it is proposed to set up caverns at 2 more locations, namely, Chandikhole in Odisha and Bikaner in Rajasthan. This will take our strategic reserve capacity to 15.33 MMT."
Gujarat: "Government of India will support Government of Gujarat to commemorate 100 years of Sabarmati Ashram in 2017, in a befitting manner. 200 years ago in 1817, a valiant uprising of soldiers led by Buxi Jagabandhu took place in Khordha of Odisha. We will commemorate the same appropriately."
Jharkhand: "Two new All India Institutes of Medical Sciences will be set up in the States of Jharkhand and Gujarat."
Haryana: Talking about public service and the government's effective Direct Benefit Transfer scheme, he said: "We have made a strong beginning with regard to Direct Benefit Transfer (DBT) to LPG and kerosene consumers. Chandigarh and eight districts of Haryana have become kerosene free. 84 Government schemes have also boarded on the DBT platform."
Eastern states and Jammu & Kashmir: Jaitley said with a better monsoon, agriculture is expected to grow at 4.1 percent in the current year.
"For a good crop, adequate credit should be available to farmers in time. The target for agricultural credit in 2017-18 has been fixed at a record level of ' 10 lakh crores. We will take special efforts to ensure adequate flow of credit to the under-serviced areas, the Eastern States and Jammu & Kashmir. The farmers will also benefit from 60 days' interest waiver announced by Honourable Prime Minister in respect of their loans from the cooperative credit structure."
