Highlights Budget 2015-16

-   Electrification by 2020 of the remaining villages in the country using solar power.

-   Rupee has gained by 6.4 per cent against a broad base of currencies; Foreign exchange reserves at record $340 billion: FM

-   GDP expected to accelerate to 7.4 pc, making India the fastest growing economy in the world: FM

-   Coal bearing states will get several lakhs of crores of rupees as royalty following transparent auction process: FM

-   Providing medical facilities to each one of village and city is essential: FM
Roof for each family in India, to fulfill Housing by 2022 must build 2 crore houses in rural India, 4 crore in urban areas: FM

-   Increase in agriculture productivity is essential for welfare for rural population, we should commit to increase irrigation area: FM

-   To Allocate Rs 5,300 Cr For Micro-irrigation

-   Direct Transfer Of Benefits To Be Further Expanded

-   To Look At Divestment Of Strategic & Non-strategic Cos

-   To Allocate Rs.20,000 Cr For Mudra Bank For SMEs

-   Committed To Rationalising Subsidies 

-   Target of 8.5 lakh crore of credit for agricultural sector

-   To Allocate Rs 25,000 Cr For Rural Infrastructure

-   FM says expect CPI to remain near 5% by year-end, have concluded monetary policy agmt with RBI 

-   To Bring In Comprehensive Bankruptcy Code

-   PROPOSE Rs 1.25 LK CR PUBLIC INVESTMENT FOR FY16 

-   To Allocate Rs 34,699 Cr For MNREGA

-   To create senior citizens welfare fund via unclaimed PPFs

-   Proposes to give Rs. 2 lakh accidental insurance to the poor for a monthly premium of Re. 1

-   Atal Pension plan launched; aimed at Indians above 60

-   To utilize vast postal network for banking venture

-   PM Surakhsha BimaYojana to increase the access to insurance

-   Will launch Atal pension Yojna.Govt will contribute 50% towards the scheme

-   Tax free infrastructure bonds for projects in Railways and roads: Finance Minister

-   To Allocate Rs 1,000 Cr For Support To Start-ups

-   NBFCs With Size Of Over Rs 500 Cr Will Get Access To SARFAESI

-   Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.

-   5 Ultra mega power projects announced

-   Public sector ports will be converted to companies, once PPP model is tweaked.

-   To allocate 1000 cr to enable IT start ups

-   2nd unit of Kudankulam nuclear power station to be commissioned in 2015/16

-   FMC to be merged in SEBI, long intended now implemented

-   To Set Up Public Debt Management Agency

-   Bring Bond Market as world Class Equity Market 

-   Will set up 5 UMPPs in the pug-and-play mode

-   TO BE UNDER COMPANIES ACT; PORTS TO BE BECOME COMPANIES

-   INTRODUCE GOLD MONETISATION SCHEME TO ALLOW INVESTORS TO EARN INTEREST IN METAL ACCOUNT.

-   TO MEET FISCAL DEFICIT OF 4.1% IN FY15: Nifty 8877.90 +0.38% #MakeInIndiaBudget

-   PROPOSE TO ALLOW FOREIGN INVESTMENT IN ALTERNATIVE INVESTMENT FUNDS #MakeInIndiaBudget

-   Unclaimed deposits of 3000 cr in PPF and 6000 cr in EPF corpus - detailed scheme in March to appropriate the funds for senior citizens: FM

-   FM to put in place direct tax regime

-   Sovreign Gold Bond Alternative to Gold

-   New gold monetization scheme

-   To Amend Section 6 Of FEMA To Control Capital Flows 

-   We plan to introduce direct tax regime that is internationally competitive on rates without exemptions

-   To Incentivise Credit, Debit Card Transactions

-   Indian gold coins with Ashok chakra on its face to be launched

-   Gold monetization scheme to allow depositors to earn interest

-   Gold monetisation scheme to replace deposit and metal loans

-   Employees can opt for EPF or new pension fund; for employees below certain threshold EPF should be optional from his side

-   #FPI and #FDI will not be differentiated:

-   To support heritage sites, Churches Goa, Hampi, Elephanta in Mumbai, Sarnath, Jallianwalla Bag

-   To introduce Indian made gold coin to reducedemand for foreign gold coins

-   PROPOSE TO ALLOW FOREIGN INVESTMENT IN ALTERNATIVE INVESTMENT FUNDS

-   After success of visas on arrival in 43 countries,proposal to increase the countries covered under this scheme to 150

-   To Allocate Rs 75 Cr For Electric Vehicles

-   To Introduce Regulatory Reform Law For Infrastructure

-   Renewable energy target revised to 1,75,000 MW

-   IIMs to be setup in J&K and Andhra Pradesh 

-   IIT in Karnataka

-    AIIMS to be set-up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam

-   To set up educational loan scheme for higher education

-   Bank Board Bureau An Interim Step In Forming A Bank Holding Co

-   To Set Up Autonomous Bank Board Bureau For Selecting Bk Executives

-   To allocate Rs 10,351 cr for Women and Child Development

-   To set up holding investment company for #PSU banks

-   National Skill Mission to be launched, to develop employability of youth, especially below 25 years of age

-   ALLOCATE Rs 2.46 LK CR FOR DEFENCE IN FY16

-   Earmarking Rs 1,200 Cr For DMIC Projects

-   Allocate Rs 33,150 Cr Towards Healthcare

-   TOTAL EXPENDITURE AT Rs.17.77 LK CR IN FY16

-   PLAN SPEND AT Rs 4.65 LK CR FOR FY16 

-   NON-PLAN SPEND AT Rs 13.12 LK CR FOR FY16

-   GROSS TAX RECEIPTS AT Rs 14.49 LK CR

-   Budget2015: Reduce rate of corporate tax from 30% to 25% over next 4yrs

-   Rs 2,46,726 crore allocated for defence expenditure for 2015-16: Jaitley #BSBudget #Budget2015

-   Reduce rate of corporate tax from 30% to 25% over next four years

-   TO RATIONALISE & REMOVE EXEMPTIONS FOR CORPORATES

-   Exemptions For Individual Tax Players To Continue

-   To Enact New Law For Black Money 

-   Concealment of income will attract 10 yrs of rigorous imprisonment

-   Stringent penalties and jail for Black Money holders and evaders

-   Benami property transaction bill to tackle black money transaction in real estate soon

-   Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets

-   FEMA Act to be amended to incorporate Black Money provisions: Finance Minister

-   To Allow Tax Pass-through For Alternative Investment Funds 

-   To Tighten Reporting Of Cash Transactions

-   To Have Benami Transaction Prohibition Bill For Domestic Black Money 

-   Quoting PAN a must for all purchases above One Lakh

-   Proposes to rationalise capital gains tax regime for real estate investment trusts

-   TO DEFER GAAR BY 2 YEARS

-   Tax pass through to be allowed in alternative investment funds to boost small firms, startups

-   Propose To Rationalise Capital Gains Regime For REITs/InvITs

-   TO REDUCE CUSTOMS DUTY ON 22 ITEMS 

-   Rental Income from REITS to have pass through facility

-   Income Tax On Royalty Fees For Technical Reduced To 10%

-   TO ABOLISH WEATH TAX; 2% ADDL SURCHARGE ON SUPER-RICH

-   Reduced taxes on Technical Services to 10% from 25%

-   Retrospective tax provisions will be avoided

-   Tax dept to put out a clarification on indirect transfer of assets and dividend paid by foreign firms

-   TO INCREASE EXCISE DUTY TO 12.5%

-   Propose To Exempt SAD On All Items

-   TO HAVE 100% TAX DEDUCTION FOR SWACHH BHARAT & CLEAN GANGA

-   Service tax will be increased to 14%

-   Excise duty on leather upper shoes cut to 6%

-   Health Insurance Premium rebate up to 25,000 instead of 15,000

-   Senior citizens health insurance incr from 20k to 30k

-   Super senior citizens - 30k deduction on expenses

-   Additional deduction of 50k in NPS

-   Rs. 80,000 deduction for serious diseases for senior citizens

-   NPS 1 lakh limit revised to 1.5 lakh

-   Transport allowance doubled to 1,600/month from 800/month

-   Clean energy cess increased from 100 to  200 Rupees per metric ton of coal to finance Green Energy Fund

-   Service Tax exemption for VarishtaBimaYojana

-   SukanyaSamrithi Scheme : Interest on Deposit will be fully exempted from TAX

-   An individual tax payer can now get exemptions up to Rs 4.4 lakh

-   Yoga institutes to get charitable status.

-   Service Tax Exemption Extended To Pre-cold Storage Warehousing