Download Union Budget 2016-2017 Capsule,Highlight, PDF,E-Book,Updates
The general budget speech is going on in Loksabha and our Finance
Minister, Mr. Arun Jaitley is presenting the budget for the financial
year 2016-2017. We are providing you the Budget Live Feeds and it will
help you learn the schemes and the changes launched by the union
government.
Below are the key points:
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| Download Union Budget 2016-2017 Capsule,Highlight, PDF,E-Book,Updates |
- Start-ups to get 100 per cent tax exemption for 3 years except minimum alternate tax which will apply from April 2016-2019 for creation of jobs.
- No change in income tax slabs.
- Jewellery prices to go up.
- First home buyers to get additional deduction of Rs 50,000 on interest for loan upto Rs 35 Lakh. Cost of house should not be more than Rs 50 Lakh.
- Clean energy cess increased from Rs 200/ton to 400/ton on coal, lignite and peat.
- Excise duty on tobacco products increased by 10-15 per cent.
- Surcharge on income tax for incomes exceeding Rs.1 crore per annum raised from 12 percent to 15 percent.
- Corporate income tax: Incentives for new manufacturing companies and relatively small enterprise companies.
- SUVs, luxury cars to be more expensive.
- Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana.
- 1 per cent infrastructure cess on small cars.
- Government to increase ATMs, micro-ATMs in post offices in next 3 years.
- Rs 25,000 crore to be allocated for re-capitalisation of Public Sector Banks.
- Deduction limit on rent raised to Rs 60,000
- Rs 3000 tax relief for small tax payers.
- Ceiling of rebate for tax payers with Rs 500,000 annual income to be raised to Rs 5000 from Rs 2000 currently under Section 88G.
- RBI Act to be amended to give statutory backing for monetary policy.
- 100 per cent FDI in marketing of food products made in India.
- Fiscal deficit for 2016-17 targeted at 3.5 percent.
- Prudence lies in adhering to fiscal targets.
- Total allocation of road and rail in 2016-17 is Rs 2.18lakh crore.
- Stand Up India scheme allocated Rs.500 crore for SCs, STs women entrepreneurs.
- Rs 1 lakh countrywide health cover and 2000 medicine shops to control medicine prices.
- 3,000 stores to be opened under Jan Aushadhi Scheme in 2016-17.
- 62 more Navodaya Vidyalayas to come up under Sarva Siksha Abhiyan.
- Rs 1000 cr set aside for higher education financing.
- Provident fund of 8.33 per cent for new governmnet emplyoyees for first 3 years.
- Govt is launching a new initiative to provide cooking gas to BPL families with state support.
- 28.5 lakh hectares will be brought under irrigation under the Pradhan Mantri Krishi Sichai Yojna.
- Govt to set apart Rs 412 crore to encourage organic farming.
- National Skill Develoment Mission has been imparted training to 76 lakh youth. 1500 multi-skill training inititutes to be set up.
- We plan to launch digital literacy mission scheme for rural India to cover around 6 crore additional household in next 3 years.
- Rs 19,000 crore allocated for Pradhan Mantri Gramin Sadak Yojana in 2016-17. In all, Rs 27000 crore after state contribution.
- Will help reduce pollution, increase employment.
- CPI inflation declined to 5.4 per cent.
- 5 lakh acres to be brought under organic farming.
- PM Fasal Bima Yojana allocated Rs 5,500 crore.
- Agricultural e-market platform on Dr BR Ambedkar's birthday
- Government to allocate Rs 5,500 crore for crop insurance scheme.
- Rs 9,000 crore allocated for Swachh Bharat Abhiyan Yogana.
- 5,500 villages electrified by February 2016. 100 per cent electrification of villages by May 2018.
- Focus on drought-affected areas.
- Rs 20,000 crore fund allocated for NABARD.
- Target to complete PM Gram Sadak Yojana by 2019. Rs 19,000 crore allocated for the project.
- 3 projects to ensure farmers get MSP benefit.
- Rs 17,000 crore allocated for Irrigation
- We will undertake significant banking reforms.
- Created new infrastructure for agriculture
- Our external situation is robust.
- Health insurance scheme to bear 1/3rd hospital expenses.
- Will ensure farm incomes are doubled.
- Global growth has slowed down, markets have fallen.
- Will bring fiscal discipline in governance.
- Growth has now accelerated to 7.4 per cent
- Increase earnings to farmers by 2020.
- Priority to provide funds to poorer section of the society
- Global ecomomy is in serious crisis: Arun Jaitley
- Indian economy has held his ground firmly.
- Forex Reserves are at its highest value, 360 billion dollars.
- Converted difficulties to oppurtunity.
- We have to spend public funds wisely.
- Growth despite pay commission suggestions.
- Inflation has come down.
- Increased planning expenditure.
- Pace of reforms must continue.
- We inherited a weaker economy.
