In an innovative way to reduce demand for overseas gold, Finance Minister Arun Jaitley in his budget speech said, “We propose an Indian gold coin. This gold coin will have an Ashok Chakra.” “The Indian gold coin will help recycle local gold and cut overseas gold demand. The government will introduce Gold Monetization Scheme, Sovereign Gold Bonds and gold coins with Ashok Chakra,” said Jaitley.
Announcing his government’s intention to come up with universal social security, Jaitley in his Budget speech said. “Under the Pradhan Mantri Surakhsha Beema Yojana, there will be an accident insurance of Rs 2 lakh.”
Moving ahead with his government’s focus on building infrastructure, Jaitley announced introduction of tax-free infra bonds for railways and roads.”We have increased the budgetary allocation to roads & railways,” said Jaitley. Jaitley also allocated Rs 25000 crore for Rural Infrastructure Development Fund. Allocation on infrastructure was upped by Rs 70,000 crore. A National Investment & Infrastructure fund was also announced.
Source: Economic Times