Budget HIghlights 2015-2016

Budget 2015-2016 Presented by Honorable FM Shri Arun Jatiley

12:36 PM Finance Minister Arun Jaitley Concludes Budget Speech
12:32 PM All contributions to Sukanya Samridhi scheme to be tax free.
12:32 PM Propose To Gain `15,000 Cr From Overall Tax Tweaking
12:32 PM Loss On Revenue For Direct Tax Proposal To Be `8,315 Cr
12:32 PM Individual Tax Payer Will See Benefit Of Tax Up To Income Of Rs 4.44 Lk
12:32 PM Service Tax Exemption Extended To Pre-cold Storage Warehousing
12:32 PM Govt to allow exemption of Rs 1.5 lakh under new pension scheme
12:32 PM Postal Department to use its vast network for proposed Payment Bank
12:32 PM Govt to increase limit of deduction of health insurance premium to Rs 25,000
12:32 PM Loss On Revenue For Indirect Tax Proposal To Be Rs 23,383 Cr
12:31 PM No tax slab changes
12:31 PM Contribution to pension scheme increased from Rs 1 lakh to Rs 1.5 lakh
12:31 PM Tax relief for yoga instructions, institutions
12:30 PM PROPOSE TO INCREASE SERVICE TAX RATE TO 14% FROM 12.36%
12:30 PM To Allow Exemption Of Rs 1.5 Lk Under New Pension Scheme
12:29 PM Additional deduction of Rs 50,000 on social safety schemes
12:29 PM Addtional Deduction Of `50,000 For Contribution To NPS
12:28 PM Transport Allowance Exemption Increased To Rs 1,600/Month
12:28 PM HEALTH INSURANCE PREMIUM LIMIT FOR SENIOR CITIZENS TO BE Rs 30,000
12:28 PM Rs 150 core to create world class IT hub in India: FM Jaitley
12:27 PM PROPOSE SOME CHANGES TO EXCISE DUTY ON CIGARETTES
12:27 PM TO INCREASE LIMIT OF DEDUCTION OF HEALTH INSURANCE PREMIUM TO `25,000
12:26 PM PROPOSE TO INCREASE THRESHOLD FOR TRANSFER PRICING TO Rs 20 CR
12:26 PM Tax ease on serious diseases for seniors raised to Rs 80,000
12:25 PM TO INCREASE EXCISE DUTY TO 12.5%
12:25 PM TO INCREASE LIMIT OF DEDUCTION OF HEALTH INSURANCE PREMIUM TO 25,000
12:24 PM Tax-free cap on medical expenses raised to Rs 25,000
12:24 PM For senior citizes: Tax-free cap on medical expenses raised to Rs 30,000, says
12:23 PM Excise duty rate effectively raised, petroleum products exempt from excise hike
12:23 PM Interpretation: Govt reduces excise duty on leather footwear
12:23 PM Excise duty rate effectively raised, petroleum products exempt from excise hike
12:22 PM Arun Jaitley calls for promoting cashless transactions; RuPay debit cards for all
12:22 PM Service tax upped to 14%: FM
12:21 PM TO HAVE 100% TAX DEDUCTION FOR SWACHH BHARAT & CLEAN GANGA
12:20 PM Wealth tax abolished. Additional 2% surcharge on tax for earners above Rs 2 crore
12:20 PM TO INCREASE EXCISE DUTY TO 12.5%: FM
12:20 PM 10% tax ease on royalty fee on tech services
12:20 PM Allow Tax Pass-through For Alternative Investment Funds
12:19 PM TO REDUCE CUSTOMS DUTY ON 22 ITEMS
12:19 PM To Tighten Reporting Of Cash Transactions
12:19 PM To Allow Tax Pass-through For Alternative Investment Funds
12:19 PM Income Tax On Royalty Fees For Technical Reduced To 10%
12:19 PM To Have Benami Transaction Prohibition Bill For Domestic Black Money
12:18 PM FEMA will be rejigged to include black money provisions
12:18 PM To Tighten Reporting Of Cash Transactions
12:18 PM TO DEFER GAAR BY 2 YEARS
12:18 PM Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets
12:18 PM Proposes 5 ultra mega power projects for 4,000 MW each
12:17 PM NEAR PRESENCE OF FUND MANAGER NOT TO CONSTITUTE PERMANENT RESIDENCE
12:17 PM Construction and Contracting - Real Estate : FM proposes to rationalise capital gains regime for REITs/InvITs
12:16 PM Capital gain regime to be rationalised
12:16 PM Propose To Rationalise Capital Gains Regime For REITs/InvITs
12:16 PM Offshore fund managers to get ease on fund managment, law to be tweaked
12:15 PM To Enact New Law For Black Money
12:15 PM FM says exemptions for individual tax players to continue
12:15 PM GST to be implemented from next year
12:15 PM Foreign Exchange Management Act To Allow For Seizure Of Foreign
12:15 PM To Have Benami Transaction Prohibition Bill For Domestic Black Money
12:14 PM TO RATIONALISE & REMOVE EXEMPTIONS FOR CORPORATES
12:14 PM To Enact New Law For Black Money
12:14 PM BASIC RATE OF CORPORATE TAX TO BE 25% OVER NEXT 4 YEARS
12:14 PM Government announces bank to fund small entrepreneurs
12:14 PM Corporate tax cut to start from next year
12:14 PM REVENUE DEFICIT TO BE 2.8% OF GDP IN FY16
12:14 PM Atal Pension Yojana to be launched
12:14 PM NON-TAX REVENUE IN FY16 SEEN AT Rs 2.21 LK CR
12:13 PM GROSS TAX RECEIPTS IN FY16 SEEN AT Rs 14.49 LK CR
12:13 PM Penalty for evaders will be 10 years in jail
12:13 PM Govt proposes to reduce corporate tax rate to 25% from 30%
12:13 PM OTAL EXPENDITURE IN FY16 SEEN AT Rs 17.77 LK CR
12:13 PM Govt to launch PM Suraksha Bhima Yojana
12:13 PM GST TO BE IMPLEMENTED FROM NEXT YEAR
12:13 PM To promote cashless transactions via RUPay debit cards
12:12 PM REVENUE DEFICIT TO BE 2.8% OF GDP IN FY16
12:12 PM NON-TAX REVENUE AT Rs 2.21 LK CR
12:11 PM Exemptions of individual tax payers to continue
12:11 PM GROSS TAX RECEIPTS AT `14.49 LK CR
12:10 PM PLAN SPEND AT Rs 4.65 LK CR FOR FY16
12:10 PM Corporate Taxation to be cut in 4 year
12:10 PM To Set Up Exclusive Commerical Divisions In HCs To Resolve Disputes
12:09 PM FY16 health sector allocation at Rs 3,31,500 cr
12:08 PM ON-PLAN SPEND AT Rs 13.12 LK CR FOR FY16
12:07 PM ALLOCATE Rs 2.46 LK CR FOR DEFENCE IN FY16
12:07 PM To Increase Allocation Towards DMIC As Ordering Picks Up Throughout Year
12:06 PM FY16 boost for health sector at Rs 3 lakh crore
12:05 PM Earmarking Rs 1,200 Cr For DMIC Projects
12:05 PM Allocate Rs 33,150 Cr Towards Healthcare
12:04 PM Bank Board Bureau An Interim Step In Forming A Bank Holding Co
12:04 PM To Set Up Autonomous Bank Board Bureau For Selecting Bk Executives
12:03 PM Propose To Set Up IIM In J&K & Andhra Pradesh
12:02 PM Propose AIIMs In Five More States
12:02 PM MGNREGA allocation increased by Rs 5,000 crore; at highest-ever level
12:01 PM National Optical Fibre Network to be extended
12:01 PM To Launch A National Skills Mission To Enhance Employability Of Rural Youth
12:00 PM To Introduce A Public Contract Resolution Of Disputes Bill
11:59 AM To Introduce Regulatory Reform Law For Infrastructure
11:58 AM To Allocate `75 Cr For Electrical Vehicles
11:57 AM To Introduce Indian-made Gold Coins To Reduce Demand For Foreign Coins
11:57 AM To Amend Section 6 Of FEMA To Control Capital Flows
11:57 AM Propose To Introduce Gold Monetisation Scheme
11:56 AM To Do Away With Distinction Between FPIs & FDI
11:56 AM Propose To Allow Foreign Investment In Alternative Investment Funds
11:55 AM Visa on arrival for 150 countries
11:55 AM Rs 1000 crore boost to Nirbhaya Fund
11:55 AM Rupay Debit Cards to be incentivised. Move towards paperless transactions
11:54 AM Propose To Develop A Sovereign Gold Bond
11:53 AM GDP SEEN AT 8-8.5% IN FY16
11:52 AM EXPECT CPI TO REMAIN CLOSE TO 5% BY YEAR-END
11:52 AM To Set Up Task Force To Create Financial Sector Redressal Agency
11:51 AM To Incentivise Credit, Debit Card Transactions
11:50 AM Employees EPF may become optional
11:48 AM 5 cr small business to get mudra bank
11:46 AM To Set Up Expert Committee For Legislation On Single-window Clearance
11:44 AM To Encourage Ports In Public Sector To Corporatise
11:43 AM To Set Up Expert Committee For Legislation On Single-window Clearance
11:43 AM To address job creation in software sector
11:42 AM Will Establish National Infra Fund, To Allocate Rs 20,000 Cr
11:41 AM To Allocate `1,000 Cr For Support To Start-ups
11:40 AM PM farm plans get Rs 3,000 crore extra allocation
11:38 AM Second unit of Kodanakulam N plan to be commissioned in 2015-16
11:36 AM PROPOSE TAX-FREE INFRA BONDS FOR ROAD, RAILWAYS & INFRA PROJECTS
11:33 AM Rs 150 crore earmarked for Atal Innovation Mission
11:32 AM NBFCs With Size Of Over Rs 500 Cr Will Get Access To SARFRAESI
11:31 AM Propose Accident Insurance, Pension Schemes For Poor
11:30 AM Aim For Farm Credit Of Rs 8.5 Lk Cr In FY16
11:29 AM PARITY FOR NBFCS WITH BANKS FOR THOSE WITH SIZE OF OVER `500 CR
11:28 AM Tax-free infra bonds proposed for rail, road
11:27 AM To Allocate Rs 25,000 Cr For Rural Infrastructure
11:26 AM Need To Cut Subsidy Leakage, Not Subsidies
11:25 AM National agri market to increase income of farmers
11:24 AM To Allocate Rs 5,300 Cr For Micro-irrigation
11:23 AM Committed To Rationalising Subsidies
11:22 AM Need to cut subsidy leakage; aiming at rationalising subsidies
11:21 AM Direct Transfer Of Benefits To Be Further Expanded
11:20 AM To Look At Divestment Of Strategic & Non-strategic Cos
11:19 AM FIRM ON ACHIEVING MEDIUM-TERM FISCAL DEFICIT TARGET OF 3% OF GDP/td>
11:18 AM To Meet Fiscal Deficit Of 4.1% In FY15
11:18 AM Transfer To States To Be 62% Of Total Receipts
11:18 AM Aim to make India manufacturing hub of the world
11:17 AM Impact: Ceramics/Granite : Govt says will see 6 crore units of rural & urban housing by 2020
11:16 AM A roof for each family in India by 2022- 75th Year of India's Independence
11:14 AM Skill India and Make in India to get further boost
11:13 AM Our objective is to keep inflation below 6 per cent & work towards substantial reduction of poverty
11:11 AM Expect to implement Goods & Services tax by April 2016
11:09 AM Move to amend RBI act and provide monetory policy committee
11:07 AM The rupee has become stronger by 6.4%
11:05 AM Three achievements of government Success of Jan Dhan Yojana, Coal auctions & Swach Bharat
11:01 AM Finance Minister Arun Jaitley arrives at Parliament to present the Union Budget 2015
10:30 AM Budget will start at 11.00 AM