Rs 14.34 Lakh Crore to be spent in 2018-19 for creation of livelihood and infrastructure in rural areas
New Delhi: The Union Minister for Finance and Corporate Affairs, Arun Jaitley, while announcing the General Budget 2018-19 in Parliament on Thursday announced important measures to give a boost to livelihoods in rural areas of the country.
Arun Jaitley informed that in 2018-19, for the creation of livelihood and infrastructure in rural areas, the total amount to be spent by various Ministries will be Rs 14.34 lakh crore, including extra-budgetary and non-budgetary resources of Rs 11.98 lakh crore.
The Government substantially increased the allocation of National Rural Livelihood Mission to Rs 5750 crore in 2018-19. Jaitley said that loans to Self Help Groups (SHGs) of women increased to about Rs 42,500 crore in 2016-17, growing 37% over previous year. The Government is confident that loans to SHGs will increase to Rs 75,000 crore by March 2019, the Minister added.