Budget highlights :
-The latest CPI inflation is 5.1 % and whole sale price inflation is negative
-Current Account Deficit For FY15 To Be Below 1.3% Of GDP
-Embraced States As Equal Partners Of Growth
-Union Budget 2015-16 GST To Be In
Place By April 1 2016
-Union Budget 2015-16 12.5 Cr Families A Part Of Jan-Dhan Yojana Already
-Economy set to grow in double-digits in coming days
-GDP growth will accelerate to 7.4 per cent
-We will achieve the target of 6 crore toilets in India
-3 achievements of Govt: #JanDhanYojana, Coal auctions and #SwachhBharat
-Our objective is to keep inflation below 6 per cent & work towards substantial reduction of poverty
-JAM Trinity- #JanDhan, #Aadhaar Mobile & GST are game changing reforms
-TO MEET FISCAL DEFICIT OF 4.1% IN FY15
-Will Need To Build Additional 1 Lk km Of Roads
-To make India a manufacturing hub and support starups. Youth need to be from job seekers to job creators
-To See 6 Cr Units Of Rural & Urban Housing By 2020
-GDP SEEN AT 8-8.5% IN FY16
-Agriculture incomes are under stress; public investment needs to step in to catalyse investment
-TO ACHIEVE 3.6% FISCAL DEFICIT IN FY17
-TO ACHIEVE 3% FISCAL DEFICIT IN 3 YEARS
-TO MEET FISCAL DEFICIT OF 4.1% IN FY15
-Transfer To States To Be 62% Of Total Receipts
-To Allocate Rs 5,300 Cr For Micro-irrigation
-Direct Transfer Of Benefits To Be Further Expanded
-To Look At Divestment Of Strategic & Non-strategic Cos
-To Allocate Rs.20,000 Cr For Mudra Bank For SMEs
-Committed To Rationalising Subsidies
-Target of 8.5 lakh crore of credit for agricultural sector
-To Allocate Rs 25,000 Cr For Rural Infrastructure
-FM says expect CPI to remain near 5% by year-end, have concluded monetary policy agmt with RBI
-To Bring In Comprehensive Bankruptcy Code
-PROPOSE Rs 1.25 LK CR PUBLIC INVESTMENT FOR FY16
-To Allocate Rs 34,699 Cr For MNREGA
-To create senior citizens welfare fund via unclaimed PPFs
-proposes to give Rs. 2 lakh accidental insurance to the poor for a monthly premium of Re. 1
-Atal Pension plan launched; aimed at Indians above 60
-To utilize vast postal network for banking venture
-PM Surakhsha Bhima Yojana to increase the access to insurance
-Will launch Atal pension Yojna. Govt will contribute 50% towards the scheme
-Tax free infrastructure bonds for projects in Railways and roads: Finance Minister
-To Allocate Rs 1,000 Cr For Support To Start-ups
-NBFCs With Size Of Over Rs 500 Cr Will Get Access To SARFAESI
-Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.
-5 Ultra mega power projects announced
-Public sector ports will be converted to companies, once PPP model is tweaked.
-To allocate 1000 cr to enable IT start ups
-2nd unit of Kudankulam nuclear power station to be commissioned in 2015/16
-FMC to be merged in SEBI, long intended now implemented
-To Set Up Public Debt Management Agency
-Bring Bond Market as world Class Equity Market
-Will set up 5 UMPPs in the pug-and-play mode
-FM to put in place direct tax regime
-Sovreign Gold Bond Alternative to Gold
-New gold monetization scheme
-To Amend Section 6 Of FEMA To Control Capital Flows
-We plan to introduce direct tax regime that is internationally competitive on rates without exemptions
-To Incentivise Credit, Debit Card Transactions
-Indian gold coins with Ashok chakra on its face to be launched
-Gold monetization scheme to allow depositors to earn interest
-Gold monetisation scheme to replace deposit and metal loans
-Employees can opt for EPF or new pension fund; for employees below certain threshold EPF should be optional from his side
-#FPI and #FDI will not be differentiated:
-To support heritage sites, Churches Goa, Hampi, Elephanta in Mumbai, Sarnath, Jallianwalla Bag
-To introduce Indian made gold coin to reduce demand for foreign gold coins
-PROPOSE TO ALLOW FOREIGN INVESTMENT IN ALTERNATIVE INVESTMENT FUNDS
-After success of visas on arrival in 43 countries,I propose to increase the countries covered under this scheme to 150
- To Allocate Rs 75 Cr For Electric Vehicles
-To Introduce Regulatory Reform Law For Infrastructure
-Renewable energy target revised to 1,75,000 MW
-IIMs to be setup in J&K and Andhra Pradesh
-IIT in Karnataka
- AIIMS to be set-up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam
-To set up educational loan scheme for higher education
-Bank Board Bureau An Interim Step In Forming A Bank Holding Co
-To Set Up Autonomous Bank Board Bureau For Selecting Bk Executives
-To allocate Rs 10,351 cr for Women and Child Development
-To set up holding investment company for #PSU banks
-National Skill Mission to be launched, to develop employability of youth, especially below 25 years of age
-ALLOCATE Rs 2.46 LK CR FOR DEFENCE IN FY16
- Earmarking Rs 1,200 Cr For DMIC Projects
-Allocate Rs 33,150 Cr Towards Healthcare
-TOTAL EXPENDITURE AT Rs.17.77 LK CR IN FY16
-PLAN SPEND AT Rs 4.65 LK CR FOR FY16
-NON-PLAN SPEND AT Rs 13.12 LK CR FOR FY16
-GROSS TAX RECEIPTS AT Rs 14.49 LK CR
-reduce rate of corporate tax from 30% to 25% over next four years
-TO RATIONALISE & REMOVE EXEMPTIONS FOR CORPORATES
-Exemptions For Individual Tax Players To Continue
-To Enact New Law For Black Money
-Concealment of income will attract 10 yrs of rigorous imprisonment
-Stringent penalties and jail for Black Money holders and evaders
-Benami property transaction bill to tackle black money transaction in real estate soon
-Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets
-FEMA Act to be amended to incorporate Black Money provisions: Finance Minister
-To Allow Tax Pass-through For Alternative Investment Funds
-To Tighten Reporting Of Cash Transactions
-To Have Benami Transaction Prohibition Bill For Domestic Black Money
-Quoting PAN a must for all purchases above One Lakh
-proposes to rationalise capital gains tax regime for real estate investment trusts
-TO DEFER GAAR BY 2 YEARS
-Tax pass through to be allowed in alternative investment funds to boost small firms, startups
-Propose To Rationalise Capital Gains Regime For REITs/InvITs
-TO REDUCE CUSTOMS DUTY ON 22 ITEMS
-Rental Income from REITS to have pass through facility
-Income Tax On Royalty Fees For Technical Reduced To 10%
-TO ABOLISH WEATH TAX; 2% ADDL SURCHARGE ON SUPER-RICH
-Reduced taxes on Technical Services to 10% from 25%
Retrospective tax provisions will be avoided
-Tax dept to put out a clarification on indirect transfer of assets and dividend paid by foreign firms
-TO INCREASE EXCISE DUTY TO 12.5%
-Propose To Exempt SAD On All Items
-TO HAVE 100% TAX DEDUCTION FOR SWACHH BHARAT & CLEAN GANGA
-Service tax will be increased to 14%
-Excise duty on leather upper shoes cut to 6%
-Health Insurance Premium rebate up to 25,000 instead of 15,000
-Senior citizens health insurance incr from 20k to 30k
-Super senior citizens - 30k deduction on expenses
-Additional deduction of 50k in NPS
-Rs. 80,000 deduction for serious diseases for senior citizens
-NPS 1 lakh limit revised to 1.5 lakh
-Transport allowance doubled to 1,600/month from 800/month
-clean energy cess increased from 100 to 200 Rupees per metric ton of coal to finance Green Energy Fund
-Service Tax exemption for Varishta Bima Yojana
-Sukanya Samrithi Scheme : Interest on Deposit will be fully exempted from TAX
-An individual tax payer can now get exemptions up to Rs 4.4 lakh
-Yoga institutes to get charitable status.
-Service Tax Exemption Extended To Pre-cold Storage Warehousing
Budget speech end
-The latest CPI inflation is 5.1 % and whole sale price inflation is negative
-Current Account Deficit For FY15 To Be Below 1.3% Of GDP
-Embraced States As Equal Partners Of Growth
-Union Budget 2015-16 GST To Be In
Place By April 1 2016
-Union Budget 2015-16 12.5 Cr Families A Part Of Jan-Dhan Yojana Already
-Economy set to grow in double-digits in coming days
-GDP growth will accelerate to 7.4 per cent
-We will achieve the target of 6 crore toilets in India
-3 achievements of Govt: #JanDhanYojana, Coal auctions and #SwachhBharat
-Our objective is to keep inflation below 6 per cent & work towards substantial reduction of poverty
-JAM Trinity- #JanDhan, #Aadhaar Mobile & GST are game changing reforms
-TO MEET FISCAL DEFICIT OF 4.1% IN FY15
-Will Need To Build Additional 1 Lk km Of Roads
-To make India a manufacturing hub and support starups. Youth need to be from job seekers to job creators
-To See 6 Cr Units Of Rural & Urban Housing By 2020
-GDP SEEN AT 8-8.5% IN FY16
-Agriculture incomes are under stress; public investment needs to step in to catalyse investment
-TO ACHIEVE 3.6% FISCAL DEFICIT IN FY17
-TO ACHIEVE 3% FISCAL DEFICIT IN 3 YEARS
-TO MEET FISCAL DEFICIT OF 4.1% IN FY15
-Transfer To States To Be 62% Of Total Receipts
-To Allocate Rs 5,300 Cr For Micro-irrigation
-Direct Transfer Of Benefits To Be Further Expanded
-To Look At Divestment Of Strategic & Non-strategic Cos
-To Allocate Rs.20,000 Cr For Mudra Bank For SMEs
-Committed To Rationalising Subsidies
-Target of 8.5 lakh crore of credit for agricultural sector
-To Allocate Rs 25,000 Cr For Rural Infrastructure
-FM says expect CPI to remain near 5% by year-end, have concluded monetary policy agmt with RBI
-To Bring In Comprehensive Bankruptcy Code
-PROPOSE Rs 1.25 LK CR PUBLIC INVESTMENT FOR FY16
-To Allocate Rs 34,699 Cr For MNREGA
-To create senior citizens welfare fund via unclaimed PPFs
-proposes to give Rs. 2 lakh accidental insurance to the poor for a monthly premium of Re. 1
-Atal Pension plan launched; aimed at Indians above 60
-To utilize vast postal network for banking venture
-PM Surakhsha Bhima Yojana to increase the access to insurance
-Will launch Atal pension Yojna. Govt will contribute 50% towards the scheme
-Tax free infrastructure bonds for projects in Railways and roads: Finance Minister
-To Allocate Rs 1,000 Cr For Support To Start-ups
-NBFCs With Size Of Over Rs 500 Cr Will Get Access To SARFAESI
-Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.
-5 Ultra mega power projects announced
-Public sector ports will be converted to companies, once PPP model is tweaked.
-To allocate 1000 cr to enable IT start ups
-2nd unit of Kudankulam nuclear power station to be commissioned in 2015/16
-FMC to be merged in SEBI, long intended now implemented
-To Set Up Public Debt Management Agency
-Bring Bond Market as world Class Equity Market
-Will set up 5 UMPPs in the pug-and-play mode
-FM to put in place direct tax regime
-Sovreign Gold Bond Alternative to Gold
-New gold monetization scheme
-To Amend Section 6 Of FEMA To Control Capital Flows
-We plan to introduce direct tax regime that is internationally competitive on rates without exemptions
-To Incentivise Credit, Debit Card Transactions
-Indian gold coins with Ashok chakra on its face to be launched
-Gold monetization scheme to allow depositors to earn interest
-Gold monetisation scheme to replace deposit and metal loans
-Employees can opt for EPF or new pension fund; for employees below certain threshold EPF should be optional from his side
-#FPI and #FDI will not be differentiated:
-To support heritage sites, Churches Goa, Hampi, Elephanta in Mumbai, Sarnath, Jallianwalla Bag
-To introduce Indian made gold coin to reduce demand for foreign gold coins
-PROPOSE TO ALLOW FOREIGN INVESTMENT IN ALTERNATIVE INVESTMENT FUNDS
-After success of visas on arrival in 43 countries,I propose to increase the countries covered under this scheme to 150
- To Allocate Rs 75 Cr For Electric Vehicles
-To Introduce Regulatory Reform Law For Infrastructure
-Renewable energy target revised to 1,75,000 MW
-IIMs to be setup in J&K and Andhra Pradesh
-IIT in Karnataka
- AIIMS to be set-up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam
-To set up educational loan scheme for higher education
-Bank Board Bureau An Interim Step In Forming A Bank Holding Co
-To Set Up Autonomous Bank Board Bureau For Selecting Bk Executives
-To allocate Rs 10,351 cr for Women and Child Development
-To set up holding investment company for #PSU banks
-National Skill Mission to be launched, to develop employability of youth, especially below 25 years of age
-ALLOCATE Rs 2.46 LK CR FOR DEFENCE IN FY16
- Earmarking Rs 1,200 Cr For DMIC Projects
-Allocate Rs 33,150 Cr Towards Healthcare
-TOTAL EXPENDITURE AT Rs.17.77 LK CR IN FY16
-PLAN SPEND AT Rs 4.65 LK CR FOR FY16
-NON-PLAN SPEND AT Rs 13.12 LK CR FOR FY16
-GROSS TAX RECEIPTS AT Rs 14.49 LK CR
-reduce rate of corporate tax from 30% to 25% over next four years
-TO RATIONALISE & REMOVE EXEMPTIONS FOR CORPORATES
-Exemptions For Individual Tax Players To Continue
-To Enact New Law For Black Money
-Concealment of income will attract 10 yrs of rigorous imprisonment
-Stringent penalties and jail for Black Money holders and evaders
-Benami property transaction bill to tackle black money transaction in real estate soon
-Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets
-FEMA Act to be amended to incorporate Black Money provisions: Finance Minister
-To Allow Tax Pass-through For Alternative Investment Funds
-To Tighten Reporting Of Cash Transactions
-To Have Benami Transaction Prohibition Bill For Domestic Black Money
-Quoting PAN a must for all purchases above One Lakh
-proposes to rationalise capital gains tax regime for real estate investment trusts
-TO DEFER GAAR BY 2 YEARS
-Tax pass through to be allowed in alternative investment funds to boost small firms, startups
-Propose To Rationalise Capital Gains Regime For REITs/InvITs
-TO REDUCE CUSTOMS DUTY ON 22 ITEMS
-Rental Income from REITS to have pass through facility
-Income Tax On Royalty Fees For Technical Reduced To 10%
-TO ABOLISH WEATH TAX; 2% ADDL SURCHARGE ON SUPER-RICH
-Reduced taxes on Technical Services to 10% from 25%
Retrospective tax provisions will be avoided
-Tax dept to put out a clarification on indirect transfer of assets and dividend paid by foreign firms
-TO INCREASE EXCISE DUTY TO 12.5%
-Propose To Exempt SAD On All Items
-TO HAVE 100% TAX DEDUCTION FOR SWACHH BHARAT & CLEAN GANGA
-Service tax will be increased to 14%
-Excise duty on leather upper shoes cut to 6%
-Health Insurance Premium rebate up to 25,000 instead of 15,000
-Senior citizens health insurance incr from 20k to 30k
-Super senior citizens - 30k deduction on expenses
-Additional deduction of 50k in NPS
-Rs. 80,000 deduction for serious diseases for senior citizens
-NPS 1 lakh limit revised to 1.5 lakh
-Transport allowance doubled to 1,600/month from 800/month
-clean energy cess increased from 100 to 200 Rupees per metric ton of coal to finance Green Energy Fund
-Service Tax exemption for Varishta Bima Yojana
-Sukanya Samrithi Scheme : Interest on Deposit will be fully exempted from TAX
-An individual tax payer can now get exemptions up to Rs 4.4 lakh
-Yoga institutes to get charitable status.
-Service Tax Exemption Extended To Pre-cold Storage Warehousing
Budget speech end
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