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KEY FEATURES OF BUDGET 2015-16 SPEECH

·     Cigarettes, pan masala costly; footwear cheaper

·     Contribution to pension and NPS raised to Rs 1.5 lakh

·     Direct tax proposals will lead to loss of Rs 8,315 cr; Indirect proposal will yield Rs 23,383 cr

·     Service tax up from 12.36% to 14%

·     No service tax on Yoga classes

·     Online excise and service tax registrations in 2 working days

·     100% tax deduction for contribution to Swachh Bharat Fund

·     Additional deduction of NPS contribution: Rs 50,000

·     Transport allowance doubled to Rs 1,600 per month

·     Rs 9,000 cr from additional 2% surcharge the super-rich

·     PAN number quoting made compulsory for transactions for more than 1 Lakh

·     Service tax hiked to 14%

·     100% tax exemption in CSR activities for Clean Ganga Fund and Swachh Bharat Kosh

·     Increase exemption on health insurance premium to Rs 25,000 from current Rs 15,000

·     Service Tax Rate increased from 12.36% to 14%

·     300% penalty on concealing income

·     Will ensure no one escapes the super rich surcharge: Sh. Arun Jaitely

·     Additional surcharge of 2% on individual income of over Rs 1 crore

·     Wealth tax abolished, to be replaced

·     Taxes on Technical Services to be reduced to 10% from 25%

·     Govt to reduce custom duty on 22 items

·     Rigorous imprisonment of 10 years under Black Money Law

·     GAAR to be deferred by two years: Sh. Arun Jaitely

·     Budget estimates of expenditure:17 .77 lakh cr, of which Non Plan is 13.12 lakh cr, and Plan is 4.65 lakh cr

·     Black money: new structure including efiling, tracking down is our abiding commitment

·     Benami Property Transaction Bill will help tackle black money transactions in real estate soon

·     Corporate Tax cut to start from next year

·     Corporate tax to be reduced from 30% to 25%

·     Direct Tax collection is going to be 14.49 lakh crore rupees

·     Centres for film production in Arunachal Pradesh

·     2015/16 non-plan expenditure seen at about Rs 13.12 trillion

·     2.46 trillion rupees allocated for defence spending in 2015-16: Sh. Arun Jaitely

·     Sensex erases all early gains, slips into negative territory: Sh. Arun Jaitely

·     Rs 2.47 lakh crore for Defence in 2015-16: Sh. Arun Jaitely

·     2 lakh kilometre of roads to be built: Sh. Arun Jaitely

·     IIMs to be set up in J&K and Andhra Pradesh

·     Indian school of mines to be upgraded to a full IIT

·     AIIMS in Jammu and Kashmir, Tamil Nadu, Himachal Pradesh, Assam and Punjab

·     Will deepen Indian Bond Market at par with the World standards: Sh. Arun Jaitely

·     Rs 70 crore to alternate energy vehicles

·     Visa on arrival scheme to be expanded to 150 countries

·     Another Rs 1,000 crore to Nirbhaya fund

·     Will help reduce power defict gaps: Sh. Arun Jaitely

·     Stress on reducing black money

·     Will introduce Indian gold coin with Ashok Chakra

·     Gold accounts will be allowed, will pay interest

·     Gold monetisation scheme soon

·     Sh. Arun Jaitely announces direct tax regime

·     Rs 5,000 crore to be allocated for MNREGA: Sh. Arun Jaitely

·     PPP model of Infrastructure to be revitalized and realigned

·     Need to make India an investment destination

·     Sh. Arun Jaitely proposes Tax free Infrastructure bonds for projects in railways and roads

·     To increase access to formal credit system

·     BSE realty index has pared gains to 1.2 per cent

·     Propose the 'Nayi Manzil' scheme for the youth minorities

·     New scheme of providing physical aids for senior citizens living below poverty line

·     Rs 330 per year premium for new life insurance scheme

·     Atal pension scheme for poor, half of the premium from govt

·     Accident insurance of Rs 2 lakh at Rs 12 per year

·     Universal social security system for the underprivileged: Sh. Arun Jaitely

·     Mudra Bank funds to help SC/ST entreprenuers

·     Formal credit system for entreprenuers

·     Mudra Bank to finance micro-finance institutions

·     Sh. Arun Jaitely proposes to create a national agriculture market

·     Agriculture income under stress

·     Increasing investment in infrastructure is a challenge

·     Electrification of remaining 20,000 villages by 2020

·     Total transfer to the states will be 62%

·     Increasing investment in infrastructure is a challenge

·     2014/15 current account deficit below 1.3 pct of GDP: Sh. Arun Jaitely

·     Budget aiming for double digit growth rate, achievable soon

·     Sh. Arun Jaitely says have to keep fiscal discipline in mind despite need for higher investment

·     Swachh Bharat which we have introduced will rejuvenate India: Sh. Arun Jaitely

·     6 crore toilets to be built: Sh. Arun Jaitely

·     We are a round the clock, round the year govt: Sh. Arun Jaitely

·     The rupee has become stronger by 6.4 %: Sh. Arun Jaitely

·     The Current Account Deficit

·     The latest CPI inflation is 5.1 % and whole sale price inflation is negative: Arun Sh. Arun Jaitely

·     Real GDP growth expected to accelerate to 7.4 per cent: Sh. Arun Jaitely

·     It is India's time to fly: Sh. Arun Jaitely

 

Disclaimer :- This newsletter is being forwarded just for the purpose of awareness among the public at large on the subject matter.