o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
·
- FM promises electricity,roads
in every village,& cooking gas in every household, all in three years.
Commendable goals
- Guidelines for PPP contracts to
be issued. New credit rating systems for infra sector instead of relying
standard perception of risk.
- New pricing based on landed
price is being considered - Jaitley
- Work of national waterways
already being expedited: FM
- We will interlink state
employment exchanges with national service career platform: FM
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and smaller
enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
9.
Clean Environment Cess
for coal and lignite raised to Rs 400 per tonne
10.
Increase excise duty on
tobacco products between 10-15%
11.
0.05% cess called Krishi
Kalyan Cess on all taxable services.
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
Rs 38,500 crore
allocated for MGNREGA
12.
To provide statutory backing
to Aadhar: FM
13.
A unified agriculture
platform to be dedicated to the nation on the birth anniversary of BR Ambedkar:
FM
14.
A dedicated irrigation
fund worth Rs 20,000 crore to be set up under NABARD
15.
First time plan
expenditure has increased which is happening due to record public spending in
infrastructure
16.
At start of year, 18,500
villages were not electrified. As of mid-Feb, 5,500 villages have been
electrified. 100% rural electrification to be done by May 2018
17.
Total allocation for
agri and farmer welfare is Rs 35,984 crore
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6. o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
2.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
3.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
4.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
5.
o
Rs 2,000 crore for LPG connection scheme for poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
6.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
7.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
8.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
Focus on health
16.
Govt to launch new
health protection scheme.
17.
National dialysis
service programme.
18.
Catastrophic health
events single largest cause of out of pocket expenditure, pushes people below
BPL.
19.
Govt to launch new
health protections schemed, health cover of Rs 1 lakh per family. Addl top up
of Rs 30000 for senior citizens
20.
Rs 2,000 crore to meet
initial cost of proving LPG connections for rural areas
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society, affordable
housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction raised
from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
2.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
3.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
4.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
5.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
6.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
7.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
18.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
19.
Allocation for crop
insurance Rs 5,500 crore
20.
Four new projects for
dairy procurement
·
Focus on drought prone
areas
Highest ever money spend on MNREGA
·
Electrified 5542
villages in 2016
·
100 village
electrification to be achieved by 1st May, 2018
·
300 urban clusters to be
set up under Shyama Prasad Mukherji Rurban Mission
·
5 lakh acres to be
brought under organic farming over three years: FM
·
FM: A unified
agriculture market e-platform will be dedicated to the nation on the birthday
of Dr. B.R. Ambedkar
·
FM: A dedicated
irrigation fund worth Rs 20,000 crore to be set up under NABARD
·
Long-term irrigation
fund
·
be created Infrastructure
for irrigation will
FM: Quantum jump of 228% in grants to gram panchayats and urban local
bodies in accordance with FFC recommendations- Allocation to PM Fasal Bima
Yojana for 2016/17 is Rs. 5500 crores
- Allocation of Pradhanmatri Gram
Sadak Yojna to be increased to Rs 19,000 Crore
- 65 eligible habitats to be
connected via 2.23 lakh kms of road.Current construction pace is 100 kms
per day
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
18.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
19.
o
Allocation for crop insurance Rs 5,500 crore
o
Four new projects for dairy procurement
o
Focus on drought prone areas
20.
o
Highest ever money spend on MNREGA
o
Electrified 5542 villages in 2016
o
100 village electrification to be achieved by
1st May, 2018
o
300 urban clusters to be set up under Shyama
Prasad Mukherji Rurban Mission
21.
o
5 lakh acres to be brought under organic
farming over three years: FM
o
FM: A unified agriculture market e-platform
will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar
o
FM: A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
o
Long-term irrigation fund
o
be created Infrastructure for irrigation will
22.
o
FM: Quantum jump of 228% in grants to gram panchayats and urban local bodies in
accordance with FFC recommendations
o
Allocation to PM Fasal Bima Yojana for 2016/17
is Rs. 5500 crores
o
Allocation of Pradhanmatri Gram Sadak Yojna to
be increased to Rs 19,000 Crore
o
65 eligible habitats to be connected via 2.23
lakh kms of road.Current construction pace is 100 kms per day
23.
o
Massive thrust on agriculture and irrigation
o
We had to work in unsupportive global
environment, adverse weather conditions and obstructive political
atmosphere-Jaitley
o
We are grateful to our farmers for being the
backbone of the country's food security-Finance Minister Arun Jaitley
o
Industry leaders watching FM Jaitley' speech
24.
Agenda for next year is
to undertake transformative measures based on 9 pillars for India
25.
Farm, rural sector,
infra, social sector to have more government expenditure: FM
26.
Jaitley says that
recapitalization of banks will be done during next FY.
27.
Focus on social and
rural sectors
1.
o
Thrust of tax proposals on relief to small taxpayer,
tax generation, value addition, moving to pensioned society, affordable
housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
18.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
19.
o
Allocation for crop insurance Rs 5,500 crore
o
Four new projects for dairy procurement
o
Focus on drought prone areas
20.
o
Highest ever money spend on MNREGA
o
Electrified 5542 villages in 2016
o
100 village electrification to be achieved by
1st May, 2018
o
300 urban clusters to be set up under Shyama
Prasad Mukherji Rurban Mission
21.
o
5 lakh acres to be brought under organic
farming over three years: FM
o
FM: A unified agriculture market e-platform
will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar
o
FM: A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
o
Long-term irrigation fund
o
be created Infrastructure for irrigation will
22.
o
FM: Quantum jump of 228% in grants to gram panchayats and urban local bodies in
accordance with FFC recommendations
o
Allocation to PM Fasal Bima Yojana for 2016/17
is Rs. 5500 crores
o
Allocation of Pradhanmatri Gram Sadak Yojna to
be increased to Rs 19,000 Crore
o
65 eligible habitats to be connected via 2.23
lakh kms of road.Current construction pace is 100 kms per day
23.
o
Massive thrust on agriculture and irrigation
o
We had to work in unsupportive global
environment, adverse weather conditions and obstructive political
atmosphere-Jaitley
o
We are grateful to our farmers for being the
backbone of the country's food security-Finance Minister Arun Jaitley
o
Industry leaders watching FM Jaitley' speech
24.
o
Agenda for next year is to undertake
transformative measures based on 9 pillars for India
o
Farm, rural sector, infra, social sector to
have more government expenditure: FM
o
Jaitley says that recapitalization of banks
will be done during next FY.
o
Focus on social and rural sectors
25.
o
Agriculture, healthcare, financial reforms on
agenda
o
Law to give backing for Aadhar scheme
o
The risk of global slowdown is mounting. Must
have macro stability and fiscal prudence. Must rely on Indian markets and
demand, and must continue with reforms to change lives for better, says the FM.
o
Increased plan expenditure at RE stage in
contrast to usual practice of reducing it: FM
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2 years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New credit
rating systems for infra sector instead of relying standard perception of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
E-assessments to be extended to all e-assesees
o
in 7 metros. to eliminate face-to-face meeting
with tax official, to be conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
2.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
3.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
4.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
5.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
6.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
7.
o
Allocation for crop insurance Rs 5,500 crore
o
Four new projects for dairy procurement
o
Focus on drought prone areas
8.
o
Highest ever money spend on MNREGA
o
Electrified 5542 villages in 2016
o
100 village electrification to be achieved by
1st May, 2018
o
300 urban clusters to be set up under Shyama
Prasad Mukherji Rurban Mission
9.
o
5 lakh acres to be brought under organic
farming over three years: FM
o
FM: A unified agriculture market e-platform
will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar
o
FM: A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
o
Long-term irrigation fund
o
be created Infrastructure for irrigation will
10.
o
FM: Quantum jump of 228% in grants to gram panchayats and urban local bodies in
accordance with FFC recommendations
o
Allocation to PM Fasal Bima Yojana for 2016/17
is Rs. 5500 crores
o
Allocation of Pradhanmatri Gram Sadak Yojna to
be increased to Rs 19,000 Crore
o
65 eligible habitats to be connected via 2.23
lakh kms of road.Current construction pace is 100 kms per day
11.
o
Massive thrust on agriculture and irrigation
o
We had to work in unsupportive global
environment, adverse weather conditions and obstructive political
atmosphere-Jaitley
o
We are grateful to our farmers for being the
backbone of the country's food security-Finance Minister Arun Jaitley
o
Industry leaders watching FM Jaitley' speech
12.
o
Agenda for next year is to undertake
transformative measures based on 9 pillars for India
o
Farm, rural sector, infra, social sector to
have more government expenditure: FM
o
Jaitley says that recapitalization of banks
will be done during next FY.
o
Focus on social and rural sectors
13.
o
Agriculture, healthcare, financial reforms on
agenda
o
Law to give backing for Aadhar scheme
o
The risk of global slowdown is mounting. Must
have macro stability and fiscal prudence. Must rely on Indian markets and
demand, and must continue with reforms to change lives for better, says the FM.
o
Increased plan expenditure at RE stage in
contrast to usual practice of reducing it: FM
14.
o
GDP growth accelerated to 7.4%: FM Arun Jaitley
o
We have bridged the trust deficit created by
the previous government: FM
o
Our forex reserves are at the highest level: FM
o
CPI inflation has come down to 5.4% under our
government, despite two poor monsoons: FM
o
Let us look at our achievements compared to the
last three years of the last government, says Arun Jaitley.
o
Financial markets have been battered: FM
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay
beyond 90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
18.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
19.
o
Allocation for crop insurance Rs 5,500 crore
o
Four new projects for dairy procurement
o
Focus on drought prone areas
20.
o
Highest ever money spend on MNREGA
o
Electrified 5542 villages in 2016
o
100 village electrification to be achieved by
1st May, 2018
o
300 urban clusters to be set up under Shyama
Prasad Mukherji Rurban Mission
21.
o
5 lakh acres to be brought under organic
farming over three years: FM
o
FM: A unified agriculture market e-platform
will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar
o
FM: A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
o
Long-term irrigation fund
o
be created Infrastructure for irrigation will
22.
o
FM: Quantum jump of 228% in grants to gram panchayats and urban local bodies in
accordance with FFC recommendations
o
Allocation to PM Fasal Bima Yojana for 2016/17
is Rs. 5500 crores
o
Allocation of Pradhanmatri Gram Sadak Yojna to
be increased to Rs 19,000 Crore
o
65 eligible habitats to be connected via 2.23
lakh kms of road.Current construction pace is 100 kms per day
23.
o
Massive thrust on agriculture and irrigation
o
We had to work in unsupportive global
environment, adverse weather conditions and obstructive political
atmosphere-Jaitley
o
We are grateful to our farmers for being the
backbone of the country's food security-Finance Minister Arun Jaitley
o
Industry leaders watching FM Jaitley' speech
1.
o
Agenda for next year is to undertake
transformative measures based on 9 pillars for India
o
Farm, rural sector, infra, social sector to
have more government expenditure: FM
o
Jaitley says that recapitalization of banks
will be done during next FY.
o
Focus on social and rural sectors
2.
o
Agriculture, healthcare, financial reforms on
agenda
o
Law to give backing for Aadhar scheme
o
The risk of global slowdown is mounting. Must
have macro stability and fiscal prudence. Must rely on Indian markets and
demand, and must continue with reforms to change lives for better, says the FM.
o
Increased plan expenditure at RE stage in
contrast to usual practice of reducing it: FM
3.
o
GDP growth accelerated to 7.4%: FM Arun Jaitley
o
We have bridged the trust deficit created by
the previous government: FM
o
Our forex reserves are at the highest level: FM
o
CPI inflation has come down to 5.4% under our
government, despite two poor monsoons: FM
o
Let us look at our achievements compared to the
last three years of the last government, says Arun Jaitley.
o
Financial markets have been battered: FM
4.
o
We inherited an economy with low growth and
high inflation: FM
o
IMF has hailed India as a bright spot: FM
o
Indian economy has held its ground firmly: FM
o
India's foreign exchange reserves stand at over
$350 billion: FM
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL
households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
o
Govt will pay interest of 9% in case of delay beyond
90 days in implementing appellate decision
less
14.
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
o
SEBI to develop new derivatives
o
New measures to fight ponzi schemes
15.
o
Focus on health
o
Govt to launch new health protection scheme.
o
National dialysis service programme.
o
Catastrophic health events single largest cause
of out of pocket expenditure, pushes people below BPL.
o
Govt to launch new health protections schemed,
health cover of Rs 1 lakh per family. Addl top up of Rs 30000 for senior
citizens
o
Rs 2,000 crore to meet initial cost of proving
LPG connections for rural areas.
16.
o
Four new projects for dairy farmers, to costs
Rs 850 crore
o
Govt goes all out, to light up entire India by
May 2018
o
Need to spread digital literacy in rural India
17.
o
Rs 9000 cr for sanitation programme
o
12 states have embraced e-marketing
o
Focus on credit flow to farmers
18.
o
Rs 19,000 cr for rural road development
o
Plan to double farm income in 3 years
o
Focus on rural economy
o
Rs 2.87 cr allocated to the rural sector
19.
o
Allocation for crop insurance Rs 5,500 crore
o
Four new projects for dairy procurement
o
Focus on drought prone areas
20.
o
Highest ever money spend on MNREGA
o
Electrified 5542 villages in 2016
o
100 village electrification to be achieved by
1st May, 2018
o
300 urban clusters to be set up under Shyama
Prasad Mukherji Rurban Mission
21.
o
5 lakh acres to be brought under organic
farming over three years: FM
o
FM: A unified agriculture market e-platform
will be dedicated to the nation on the birthday of Dr. B.R. Ambedkar
o
FM: A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
o
Long-term irrigation fund
o
be created Infrastructure for irrigation will
22.
o
FM: Quantum jump of 228% in grants to gram panchayats and urban local bodies in
accordance with FFC recommendations
o
Allocation to PM Fasal Bima Yojana for 2016/17
is Rs. 5500 crores
o
Allocation of Pradhanmatri Gram Sadak Yojna to
be increased to Rs 19,000 Crore
o
65 eligible habitats to be connected via 2.23
lakh kms of road.Current construction pace is 100 kms per day
23.
o
Massive thrust on agriculture and irrigation
o
We had to work in unsupportive global
environment, adverse weather conditions and obstructive political
atmosphere-Jaitley
o
We are grateful to our farmers for being the
backbone of the country's food security-Finance Minister Arun Jaitley
o
Industry leaders watching FM Jaitley' speech
24.
o
Agenda for next year is to undertake
transformative measures based on 9 pillars for India
o
Farm, rural sector, infra, social sector to
have more government expenditure: FM
o
Jaitley says that recapitalization of banks
will be done during next FY.
o
Focus on social and rural sectors
25.
o
Agriculture, healthcare, financial reforms on agenda
o
Law to give backing for Aadhar scheme
o
The risk of global slowdown is mounting. Must
have macro stability and fiscal prudence. Must rely on Indian markets and
demand, and must continue with reforms to change lives for better, says the FM.
o
Increased plan expenditure at RE stage in
contrast to usual practice of reducing it: FM
26.
o
GDP growth accelerated to 7.4%: FM Arun Jaitley
o
We have bridged the trust deficit created by
the previous government: FM
o
Our forex reserves are at the highest level: FM
o
CPI inflation has come down to 5.4% under our
government, despite two poor monsoons: FM
o
Let us look at our achievements compared to the
last three years of the last government, says Arun Jaitley.
o
Financial markets have been battered: FM
27.
o
We inherited an economy with low growth and
high inflation: FM
o
IMF has hailed India as a bright spot: FM
o
Indian economy has held its ground firmly: FM
o
India's foreign exchange reserves stand at over
$350 billion: FM
28.
o
CAD has declined to $14.4 bn dollars, projected
1.4% of GDP
o
Growth of GDP has accelerated - Jaitley
o
Have managed this despite inheriting a weak
economy. But have converted these into opportunities, says Arun Jaitley.
o
Indian economy has stood its ground
o
FM: The growth of GDP has accelerated to 7.6%
1.
o
Thrust of tax proposals on relief to small
taxpayer, tax generation, value addition, moving to pensioned society,
affordable housing, addl resources, reducing litigation, simplification and
rationalistiaon.
o
Not more than Rs 5 lakh, ceiling raised under
87 (a) from Rs 2000 to Rs 5000. for renters, increased from Rs 24000 to Rs
60000 per annum.
o
For MSMEs, with revenue not more than Rs 1
crore, turnover limit for scheme raise to Rs 2 crore.
o
Withdrawal up to 40% of corpus from Pension to
be made tax-exempt
less
2.
o
DDT to be exempt from REITs
o
The finance ministry has issued a press release
saying that hard copies of Budget 2016 will not be distributed for the media at
Parliament House today as the number of copies have been curtailed as part of
its green effort.
o
Persons with higher income can bear higher tax
cost. Tax @10% for persons/HUFs receiving dividend more than Rs 10 lakh
o
For first homebuyers, addl Rs 50,000 tax
exemption for houses under Rs 50 lakh
less
3.
o
Increase HRA to 60,000 per annum
o
Will reduce burden of tax for small tax payers
o
Tax rebate those under Rs 5 lakh/year
o
Relief for those who stay in rented houses
o
Tax benefits for start-ups annunced
o
Calibrated approach in cutting corporate tax
4.
o
Capital gains not to be taxed if invested in
select categories
o
Lower corporate IT rate for FY17 of relatively
small enterpises, with turnover of less than Rs 5 crore limited to 29% plus
cess
o
LTCG period for unlisted firms reduced to 2
years
o
Economy, he says, has consolidated because of
Govt's commitments to fiscal targets.
o
He added that govt needs to increase the pace
for divestment.
o
Relief to those in rented houses: deduction
raised from Rs 24,000 to Rs 60,000 under Section 88G: FM
o
Capital gains not to be taxed if invested in
select categories
less
5.
o
Incentives for new manufacturing companies and
smaller enterprise companies: FM
o
Service tax exempted for housing construction
of houses less than 60 square metre: FM
o
In 2016-17, govt eyes Rs 1,80,000 crore credit
target through Mudra bank: FM
o
Government should spend money on small scale
irrigation projects, caution activists
o
Service tax exempted for general insurance
schemes under Niramayi Swasthya Bima Yojana: FM
o
Deduction for rent payers raised from Rs 20,000
to Rs 60,000 to benefit those living in rented houses: FM
less
6.
o
FM promises electricity,roads in every
village,& cooking gas in every household, all in three years. Commendable
goals
o
Guidelines for PPP contracts to be issued. New
credit rating systems for infra sector instead of relying standard perception
of risk.
o
New pricing based on landed price is being
considered - Jaitley
o
Work of national waterways already being
expedited: FM
o
We will interlink state employment exchanges
with national service career platform: FM
less
7.
o
Scheme to continue for 5 years to cover BPL households
o
Women of India have faced the curse of smoke
during cooking, time to remedy this - Jaitley
o
Over Rs 87,000 crore allocated for rural
development.
8.
o
Further reforms in FDI policy
o
New credit rating system for infrastructure
o
To introduce public dispute resolution body
o
Rs 3000 cr allocated for nuclear power
o
Impetus to food processing industry
o
To incentivise gas production from deep sea
o
Measures to fight bankruptcy situation in banks
o
Comprehensive codes on financial firms
9.
o
Clean Environment Cess for coal and lignite
raised to Rs 400 per tonne
o
Increase excise duty on tobacco products
between 10-15%
o
0.05% cess called Krishi Kalyan Cess on all
taxable services.
10.
o
Rs 2,000 crore for LPG connection scheme for
poor.
o
LPG connection scheme for women members for BPL
households
o
Rs 87,765 crore allocated for rural development
11.
o
Rs 38,500 crore allocated for MGNREGA
o
To provide statutory backing to Aadhar: FM
o
A unified agriculture platform to be dedicated
to the nation on the birth anniversary of BR Ambedkar: FM
o
A dedicated irrigation fund worth Rs 20,000
crore to be set up under NABARD
12.
o
First time plan expenditure has increased which
is happening due to record public spending in infrastructure
o
At start of year, 18,500 villages were not
electrified. As of mid-Feb, 5,500 villages have been electrified. 100% rural
electrification to be done by May 2018
o
Total allocation for agri and farmer welfare is
Rs 35,984 crore
13.
o
E-assessments to be extended to all e-assesees
in 7 metros. to eliminate face-to-face meeting with tax official, to be
conducted in e-environment.
o
Baggage allowance for fliers likely to be
increased.
o
Deferred payment of customs duty for importers
and exporters with proven track record
o
Net impact of tax propoasls will result in
revenue gain of Rs 19,000 crore
