Union Budget 2015-16: Highlights of Union Budget 2015-16
28 Feb 2015
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Highlights:
- Exemptions For Individual Tax Payers To Continue: FM
- Basic Corporate tax rate at 25 p-er cent over next 4years
- Rationalise and remove exemptions for corporatee
- Revenue deficit at 2.8% of GDP in FY16
- Non tax revenue in FY16 at Rs 2.21 lakh crore
- Gross tax receipts at Rs 14.49 lakh crore
- Total expenditure in FY 16 at Rs17.77 lakh crore
- Revenue deficit at 2.8% of GDP in FY16
- Non tax revenue at Rs 2.21 lakh crore
- Gross tax receipt 14.49 LK CR: FM
- Plan expenditure of Rs4.65 lakh crore in FY16
- Exclusive Commerical Divisions In high courts proposed to resolve disputes
- Non Plan expenditure of Rs13.12 lakh crore in FY16
- Defence allocation at Rs 2.46 lakh crore in FY16
- To Increase Allocation Towards DMIC As Ordering Picks Up Throughout Year
- Earmarking Rs 1,200 Cr For DMIC Projects: FM
- Allocate Rs 33,150 Cr Towards Healthcare
- Bank Board Bureau An Interim Step In Forming A Bank Holding Co: FM
- To Set Up Autonomous Bank Board Bureau For Selecting Bk Executives:Propose To Set Up IIM In J&K & Andhra Pradesh
- Propose AIIMs In Five More States
- To Launch A National Skills Mission To Enhance Employability Of Rural Youth
- To Introduce A Public Contract Resolution Of Disputes Bill
- To Introduce Regulatory Reform Law For Infrastructure
- To Allocate '75 Cr For Electrical Vehicles
- Propose To Increase Visa On Arrival To 150 Countries In Stages
- To Do Away With Distinction Between FPIs & FDI: FM
- Propose To Allow Foreign Investment In Alternative Investment Funds
- To Introduce Indian-made Gold Coins To Reduce Demand For Foreign Coins: FM
- To Incentivise Credit, Debit Card Transactions
- GDP expected between 8-8.5% inFY16
- Propose To Develop A Sovereign Gold Bond: FM
- To Amend Section 6 Of FEMA To Control Capital Flows
- Propose To Introduce Gold Monetisation Scheme
- To Put In Place Direct Tax Regime: FM
- FM: To Set Up Task Force To Create Financial Sector Redressal Agency
- To merge Forwards Markets commission and Securities and Exchange Board of India
- FM: To Set Up Public Debt Management Agency
- To Set Up 5 Ultra Mega Power Projects Of 4,000 MW: FM
- If Tax Buoyancy Permits, To Increase Allocation To MNREGA By Rs 5,000 Cr
- To Set Up Expert Committee For Legislation On Single-window Clearance: FM
- FM: To Have Plug & Play Projects For Roads, Ports & Infra
- To Set Up 5 ultra mega power projects
- To Set Up Expert Committee For Legislation On Single-window Clearance
- Encourage Ports In Public Sector To Corporatise: FM
- To establish National Infrastructurre Fund ofRs 20,000 crore
- To Allocate Rs1,000 crore for support to start-ups
- Tax-free infrastructure bonds for road, rail and infratructure projects
- Infrastructure investments to go up by Rs 70,000 crore
- Road outlays To Increase by Rs 14,031 crore In FY16
- Propose Accident Insurance, Pension Schemes For Poor
- Farm Credit of Rs 8.5 lakh crore in FY16
- Provide parity with banks for NBFCS of over Rs500 crore
- Direct Transfer Benefits to be expanded
- Need To Cut Subsidy Leakage, Not Subsidies
- FM: Committed To Rationalising Subsidies
- NBFCs To Be Considered Financial Institutions For SARFAESI
- Public investment of Rs1.25 lakh crore in FY16
- To Bring In Comprehensive Bankruptcy Code
- Allocate Rs 20,000 Cr For Mudra Bank For SMEs
- Aim For Farm Credit of Rs 8.5 Lk Cr In FY16: FM
- FM: To Allocate Rs 34,699 Cr For MNREGA
- FM: To Allocate Rs 25,000 Cr For Rural Infrastructure
- Need To Cut Subsidy Leakage, Not Subsidies: FM
- FM: To Allocate Rs 5,300 Cr For Micro-irrigation
- Committed To Rationalising Subsidies: FM
- Direct Transfer Of Benefits To Be Further Expanded: FM
- To consider disivestment of strategic and non-strategic compnies
- To achieve 3.6 per cent fiscal deficit in FY17
- To Allocate Rs 34,699 Cr For MNREGA
- To Allocate Rs 25,000 Cr For Rural Infrastructure
- Need To Cut Subsidy Leakage, Not Subsidies: FM
- Rs5,300 crore to be provided for For micro-irrigation schemes
- To rationalise subsidies: FM
- Direct Transfer Of Benefits To Be Further Expanded: FM
- To Look At Divestment Of Strategic & Non-strategic Cos: FM
- To raise disinvestment target
- To achieve 3 per cent fiscal deficit 3 years VS 2 per cent previously envisaged
- To achieve 3.6 per cent of fiscal deficit in FY17
- To achieve 3.9 per cent of fiscal deficit in FY16
- Medium term fiscal deficit of 3 per cent of GDP
- To Meet Fiscal Deficit of 4.1 per cent In FY15
- FM: Transfer To States To Be 62 per cent of Total Receipts
- Saw 50 Lk Toilets Constructed In FY15
- FM: Will Need To Build Additional 1 Lk km Of Roads
- Could end FY15 with 7.4% GDP
- To See 6 Cr Units Of Rural & Urban Housing By 2020
- Monetary Policy Committee Will Look To Keep CPI Below 6%
- GDP at 8-8.5% in FY16
- Have Concluded Monetary Policy Agreement With RBI
- Expect CPI To Remain Close To 5 per cent By Year-end
- GST To Be In Place By April 1, 2016
- 12.5 Cr Families A Part Of Jan-Dhan Yojana Already: FM
- FM: Ease Of Doing Biz Will Be Improved Further In Near-term
- FM: Took Several Steps w.r.t Natural Resources & Financial Inclusion
- Set To Grow In Double-digits In Coming Days: FM
- Embraced States As Equal Partners Of Growth: FM
- NDA Govt Undertook Many Steps To Improve The Economy: FM
- Budget proposals lay down roadmap for accelerating growth: FM
- India set to take off on faster trajectory of growth again
- Forecasts for India have either been upgraded or kept stable: FM
- I present the budget in a far better economic environment than in the past: FM
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