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Highlights of Union Budget 2015-16

Highlights of Union Budget 2015-16

Jaitley: Transport allowance increased to Rs. 1600 per month

Jaitley: 100% tax deduction for contribution to Swachh Bharat Fund

Jaitley: Service tax hiked to 14%

Jaitley: To increase clean energy cess to Rs. 200/tonne of coal

Jaitley: Online excise & service tax registrations in 2 working days

Jaitley: Rs. 9000 cr from additional 2% surcharge the super rich

Jaitley: Wealth tax abolished, replaced by 2% cess on super rich

Jaitley: Total wealth tax collection in the country is Rs. 1008 cr

Jaitley: GAAR to be deferred by 2 years

Jaitley: To curb benami transactions in property deals

Jaitley: 7-yr imprisonment for non filing of return on foreign asset

Jaitley: 300% penalty on concealing income

Jaitley: Undisclosed income to be taxed on maximum marginal rate

Jaitley: New law to tackle black money

Jaitley: Exemptions for individual tax payers to continue
Jaitley: Reduce corporate tax from 30 to 25 %

Jaitley: Gross tax receipts Rs. 14.49 lakh cr

Jaitley: Rs. 13,12,200 cr non planned expenditure

Jaitley: Rs. 2,46,726 cr allocated for defence

Jaitley: Centres for film production in Arunachal Pradesh

Jaitley: Set up AIIMS in J&K, Tamil Nadu, Himachal Pradesh and Assam

Jaitley: To amend law under FEMA on capital account transactions

Jaitley: National skill development mission to be launched

Jaitley: Plan 175,000 MW renewable energy by 2022

Jaitley: Visa on arrival extended to 150 countries

Jaitley: Rs. 1000 cr more to the Nirbhaya fund

Jaitley: Develop sovereign gold bond with fixed rate of interest

Jaitley: Introduce a gold monetisation scheme

Jaitley: Direct tax regime which is internationally competitive

Jaitley: Highest ever allocation to MNREGA

Jaitley: Public debt management agency

Jaitley: Pre existing regulatory policies instead of prior permissions

Jaitley: 5 ultra-mega power projects, each of 4000MW

Jaitley: Under new PPP model Govt to absorb majority of the risk

Jaitley: New scheme called Nayi Manzil to enable minority youth

Jaitley: Investment in infrastructure to go up by Rs. 70, 000 cr

Jaitley: Integrated education and livelihood scheme for minorities

Jaitley: New scheme for assisted living devices for BPL senior citizen

Jaitley: To create a senior citizens’ welfare fund

Jaitley: To increase access to formal credit system

Jaitley: Universal social security system to be created

Jaitley: To create micro unit development finance unit MUDRA Bank

Jaitley: Rs. 25,000 cr for rural infrastructure development fund

Jaitley: National unified market for farm produce

Jaitley: Initial allocation of Rs. 34699 cr under MNREGA

Jaitley: Rs. 5300 cr for micro irrigation & PM’s irrigation scheme

Jaitley: Fiscal gap target of 3% to be met in 3 years

Jaitley: Increasing investment in infrastructure is a challenge

Jaitley: Our objective is to keep inflation below 6 %

Jaitley: Total transfer to the states will be 62%

Jaitley: Need to be mindful of fiscal discipline

Will Form A Monetary Policy Committee

Jaitley: At least 1 member of each family to have job by 2022

Jaitley: Electrification of remaining 20,000 villages by 2020

Jaitley: GST will put in place a state of the art taxation system

Jaitley: Aiming for double digit growth

Growth In FY16 Seen Between 8-8.5%

Jaitley: Growth expected between 8 and 8.5%

To Roll Out GST On April 1, 2016

GST To Put In Place State Of Art Indirect Tax System By Apr, 2016

Jaitley: Conquering inflation is an achievement of my govt

FY15 Real GDP Growth Seen At 7.4%

FY15 CAD Seen Lower Than 1.3%

Jaitley: 50 lakh toilets constructed, target 6 cr toilets

India’s Economic Credibility Re-established

Jaitley: 12.5 cr families under Jan Dhan Yojna

Jaitley: 2015 GDP seen at 7.4%

Jaitley: We have lived up to people’s trust

Jaitley: Dramatically established macro economic stability

Jaitley: World is predicting it is India’s chance to fly

Jaitley: States empowered more than before

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