Modi effect also visible in budget as country is going in steady growth. Rising of prices is stable, With GDP 7.4 %, Rupee becomes 6.5 % Stronger, Retail
inflation is estimated to be 5 percent by the end of the year, & many More.. Read Budget...
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Abolition
of Wealth Tax.
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Additional
2% surcharge for the super rich with income of over Rs. 1 crore.
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Rate
of corporate tax to be reduced to 25% over next four years.
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No
change in tax slabs.
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Total
exemption of up to Rs. 4,44,200 can be achieved.
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100%
exemption for contribution to Swachch Bharat, apart from CSR.
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Service
tax increased to14 per cent.
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Rs.
25,000 crore for Rural Infrastructure Development Bank.
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Rs.
5,300 crore to support Micro Irrigation Programme.
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Farmers
credit - target of 8.5 lakh crore.
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Rs.
70,000 crores to Infrastructure sector.
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Tax-free
bonds for projects in rail road and irrigation
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PPP
model for infrastructure development to be revitalised and govt. to bear
majority of the risk.
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Atal
Innovation Mission to be established to draw on expertise of entrepreneurs,
and researchers to foster scientific innovations; allocation of Rs. 150
crore.
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Govt.
proposes to set up 5 ultra mega power projects, each of 4000MW.
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AIIMS
in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
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IIT
in Karnataka; Indian School of Mines in Dhanbad to be upgraded to IIT.
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PG
institute of Horticulture in Amritsar.
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Kerala
to have University of Disability Studies
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Centre
of film production, animation and gaming to come up in Arunachal Pradesh.
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IIM
for Jammu and Kashmir and Andhra Pradesh.
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Allocation
of Rs. 2,46,726 crore; an increase of 9.87 per cent over last year.
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Focus
on Make in India for quick manufacturing of Defence equipment.
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50,000
toilets constructed under Swachh Bharath Abhiyan.
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Two
other programmes to be introduced- GST & JAM Trinity. GST will be
implemented by April 2016.
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MUDRA
bank will refinance micro finance orgs. to encourage first generation SC/ST
entrepreneurs.
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Housing
for all by 2020.
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Upgradation
80,000 secondary schools.
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DBT
will be further be expanded from 1 crore to 10.3 crore.
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For
the Atal Pension Yojna, govt. will contribute 50% of the premium limited to
Rs. 1000 a year.
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New
scheme for physical aids and assisted living devices for people aged over 80
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Govt
to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund.
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Rs.
5,000 crore additional allocation for MGNREGA.
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Govt.
to create universal social security system for all Indians.
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Rs.
75 crore for electric cars production.
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Renewable
energy target for 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass
and 5K MW in small hydro
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Develpoment
schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests
of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at
Hyderabad to be under the new toursim scheme.
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Visa
on Arrival for 150 countries.
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Sovereign
Gold Bond, as an alternative to purchasing metal gold.
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New
scheme for depositors of gold to earn interest and jewellers to obtain loans
on their metal accounts.
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To
develop an Indian gold voin, which will carry the Ashok Chakra on its face,
to reduce the demand for foreign coins and recycle the gold available in the
country.
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Forward
Markets Commission to be merged with the Securities and Exchange Board of
India
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NBFCs
registered with the RBI and having asset size of Rs 500 crore and above to be
considered as ‘financial institution’ under Sarfaesi Act, 2002, enabling them
to fund SME and mid-corporate businesses
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Permanent
Establishment norms to be modified to that mere presence of offshore fund
managers in the country does not lead to “adverse tax consequences.”
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