Union Budget 2015-16: Highlights of Union Budget 2015-16

Highlights of Union Budget 2015-16Highlights:

  • 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