Budget Highlights - 16 last


Posted on 28th Feb 2015 02:37 pm by mohit kumar

* Changes in excise on tobacco items, including cigarettes, paan masala and gutkha

* Tax exemption for contributions to 'Swachh Bharat Abhiyan' and 'Clean Ganga Fund' by corporates as part of CSR

* Increase in limit of deduction in health insurance from Rs.15,000 to Rs.25,000

* For senior citizens, this limit to be increased from Rs.30,000 from present Rs.10,000

* Deduction limit of Rs.60,000 on account of serious diseases to be enhanced to Rs.80,000 for senior citizens

* Exemption on contributions to Pension Fund hiked from Rs.1 lakh to Rs.1.5 lakh per year

* All investment payments in 'Sukanya Scheme' will be fully exempted from tax

* Transport allowance exemption raised from Rs.800 to Rs.1,600 per month

* Wealth Tax to be abolished and additional two percent tax on super rich to yield Rs.9,000 crore annually

* Excise duty on footwear with leather uppers to be reduced to six percent

* Service tax and education levy to be consolidated from 12.36 percent to 14 percent

* Swachh Bharat cess of two percent, if necessary

* Law against Benami property in fight against black money

* Quoting PAN essential in property transactions

* Splitting of transaction not to be permitted



* Tax regime to be rationalised



* Applicability of General Avoidance Rules (GAR) to be deferred by two years in view of problems faced in its implementation



* Non-Plan expenditure in 2015-16 estimated at Rs.1,312,200 crore; Plan expenditure estimated at Rs.465,277 crore



* Tax collection in 2015-16 estimated at Rs.1,449,490 crore



* Corporate tax to be reduced to 25 percent from 30 percent in four years



* Rigorous imprisonment of up to 10 years for concealing income



* Prevention of Money Laundering Act to be amended to provide for forfeiture of property in India if the one abroad cannot be attached



* Exemption to individual tax payers to continue



* In last nine months several steps taken to effectively deal with problem of black money



* Comprehensive new law to be brought against black money



* New structure to be put in place in banking sector for seamless integration of data



* Adequate provision for defence with Rs.246,727 crore earmarked this year



* Fully IT-based student-help facility for needy students



* Eastern states to be given opportunity to develop faster. Special boost to Bihar and West Bengal as in the case of Andhra Pradesh and Telangana



* Good progress in DMIC corridor and other infra-projects. Rs.1,200 crore earmarked and additional funds if pace of work picks up on ongoing projects



* Procurement law to be drawn up to ensure transparency and remove corruption



* Centenary of Deen Dayal Upadhyay to be celebrated; committee for this to be set up soon



* During 2015-16 AIIMS-like institutes to be set up in Jammu and Kashmir, Punjab, Tamil Nadu and Himachal Pradesh; Bihar to get second AIIMS-like institution



* Karnataka to get an IIT; Indian School of Mines in Dhanbad to be upgraded to IIT



* Good progress being made on Digital India



* To discourage transactions in cash, Rupee debit card to incentivise credit transactions



* In line with 'Act East Policy', steps to catalyse investment in this sector through a project development company to oversee investments in Cambodia, Laos and Vietnam



* Tourism has increased after Visa on Arrival introduced for 43 countries. This facility to be increased to 150 countries in different stages



* Public Debt Management Agency to be created to strengthen the bond market

* Gold Monetisation Scheme to be introduced; sovereign gold bonds to be introduced; working on developing Indian gold coin with Ashok Chakra on face

* Vision of making India cashless society



* Foreign Investment in alternative investment funds to be permitted



* Ports in public sector to be encouraged to utilise land under their control



* Make India investment-destination by streamlining permission procedures



* Five ultra-mega power projects each of 4,000 MW to be set up



* MGNREGA allocation to be enhanced by Rs.5,000 crore, if additional funds available



* Integrated education and livelihood scheme to be launched



* "The Everlasting Flame" exhibition on Parsis to be launched

* National investment and infrastructure fund to be launched with corpus of Rs.20,000 crore to generate more funds



* Innovation initiative to be launched in NITI Aayog in the name of former prime minister Atal Bihari Vajpayee



* Government committed to increasing access of people to the banking system



* Universal social security system for all Indians, especially poor and disadvantaged sections



* Atal Pension Yojna for economically disadvantaged



* PPF and EPF corpus to be utilised for senior citizens' welfare fund



* Physical aids and assisting devices for physically challenged senior citizens



* Main challenges: increasing agricultural production; increasing investment in infrastructure; with manufacturing declining, Make in India will create jobs; cooperative federalism

* Agriculture credit targetted at Rs.8.5 lakh crore



* Rural jobs scheme to get Rs.34,699 crore; Every poor to get a job

* To work with NITI Aayog for creating a National Agricultural Market



* Need well-targeted system for subsidies.



* Direct transfer of subsidy to LPG consumers



* Appeal to well-off consumers to surrender subsidised LPG connections



* Organic farm schemes of agriculture ministry to be supported



* 'Per drop More crop' scheme for better irrigation



* Three achievements - Jan Dhan Yojna, coal auctions, Swachh Bharat



* Two more gamechanging reforms: Goods and Services Tax, JAM trinity (Jan Dhan Yojna, Aadhar, Mobile number) to ensure transparency



* Our achievement to conquer inflation, CPI inflation at five percent by year-end



* GDP growth at 7.4 percent in 2014-15 and at 8-8.5 percent in 2015-16; double-digit growth feasible



* We are in an economic environment far more positive than in the recent past



* Undertaken several significant steps to energise the Indian economy in last nine months



* India's chance to fly



* Budget proposals lay down roadmap for economic growth.

0 Like 0 Dislike
Previous news Next news
Other news

Gujarat Election 2022: PM Modi doing marathon rallies in Gujarat, will attack opponents from four places even today

Because of the first phase of assembly elections in Gujarat next week, all the parties have inten

Pollard's 6 sixes overshadowed Dhananjay's hat-trick, a stunning West Indies victory in the first T20
Sri Lankan leg-spinner Aquila Dhananjay experienced tremendous ups and downs of T20 cricket in a sin

Dawood Ibrahim: The Internet disrupted in Pakistan, and social media is also down; Connection is being taken out from Dawood

Dawood Ibrahim The news of the poisoning of underworld don Dawood Ibrahim, who was hiding in Paki

Ravi Shastri suggests how the workload of cricketers can be reduced

Former India cricketer and head coach Ravi Shastri has demanded a cut in the T20 bilateral series

ED attaches Rs.130 crore assets in Jagan case

Hyderabad, March 26 (IANS) The Enforcement Directorate (ED) on Thursday attached properties wor

Vehicle Prices: Vehicle prices may increase, investment will be made in meeting emission norms

The prices of passenger and commercial vehicles are expected to increase in the coming times. Aut

Make in India: The production sector increased by 4.6 times in two years, new orders and investment played an important role in the growth

The country's manufacturing sector is recovering rapidly based on Make in India amid the worsenin

Jacqueline Fernandes did not appear before ED even today in money laundering case, cited work

The Enforcement Directorate (ED) has issued summons to Jacqueline Fernandez in the Sukesh Chandra

PM Modi: Tahawwur Rana was on PM Modi's target since 2011, now a 14-year-old tweet is going viral

After the extradition of Tahawwur Rana to India, an old tweet of Prime Minister Modi from the yea

New innovations begin in the world to deal with the Corona epidemic; Emergency ventilator built in 3 days, 3D arm will prevent infection

new Delhi. Scientists from around the world have been looking for ways to prevent the spread of c

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash