Major News and Events of 01 February 2017
What Happened on 01 February 2017
Union Budget 2017: Rs 55000 Crore Allocated to Railways
As per reports, the finance minister mentioned in his Budget speech that two new schemes are going to be launched which will help in promoting the usage of BHIM app. The two schemes include cashback schemes for individuals and referral discounts for merchants.
He also mentioned that the app was launched in the end of December 2016 by prime minister Narendra Modi, and it already has over 1.25 crore users now.
The latest change in the app is that it has been integrated with UID to make payments by using Aadhar number. In the coning weeks, there are plans to launch the biometric-based Aadhaar Pay payment module.
For the first time in 92 years, a combined budget has been presented. As per reports, Finance Minister Arun Jaitley allocated Rs 55000-crore for the railways on Wednesday and also mentioned that the functional autonomy of the institution is going to be maintained.
While discussing the Union Budget, the Finance Minister also mentioned that the major focus will be on safety and cleanliness in railways, there will be no unmanned level crossings by 2020 and competitive ticketing facilities will be there. He also revealed that a new metro rail policy is in work.
For differently-abled, 25 new railways stations are going to be developed and 500 stations will be equipped with lifts and escalators.