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Rs 14.34 Lakh Crore to be spent in 2018-19 for creation of livelihood and infrastructure in rural areas

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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.

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