Union Budget 2016-17
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UNION BUDGET 2016-17: PRO-POOR & PRO-FARMER BUDGET
12:41 The Finance Minister Mr. Arun Jaitley concluded his Budget Speech.
12:40 Buying cars will be costly for India now.
12:38 Exemption of Service tax for services provided under Deen Dayal Upadhaya Grameen Yojana.
12:36 Government to take measures to support export sector: Arun Jaitley
12:34 E-Sahyog will be expanded by Income Tax Department to help small tax payers.
12:32 Clean energy cess increased from RS. 200/ton to 400/ton on coal, lignite and peat: FM
12:30 No changes have been made to existing income tax slabs
12:28 4% high capacity tax for SUVs.
12:26 To increase Excise Duty on Tobacco Products from 10 to 20 per cent.
12:25 Levy of infrastructure Cess of 1% on small petrol cars, 2.5% on diesel cars, and 1% on luxury goods and cars
12:22 Service tax exempted for housing construction of houses less than 60 square metre: FM
12:21 Tax relief on rent now Rs 60,000 per annum
12:19 Service tax exempted for general insurance schemes under Niramayi Swasthya Bima Yojana: FM
12:18 GAAR will be rolled out from April 1, 2016.
12:17 Procedure will be simplified for Custom and Excise Duty Rates.
12:15 First-time home buyers to get additional deduction of Rs 50,000 on interest for loan up to Rs 35 lakh
12:14 Deduction for rent payers raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses: FM
12: 13 Presumptive income tax scheme to be extended to all professionals with income of Rs 50 lakh with presumption of 50% profit: FM
12:12 Start-ups set up during April 2016 to March 2019 will get 100% profit in income. MAT will apply.
12:10 Income not exceeding 5 lakhs, the taxpayers will get a relief of 3000 Rupees.
12:09 Ceiling of tax rebate for tax-payers with up to Rs 5 lakh annual income to be raised to Rs 5000 from Rs 2000: FM
12:08 Tax Reforms: Relief to small taxpayers
Help Make in India
Measure for improving Pension Society
Reducing Litigation and providing certainty in taxation
12: 06 The role of the taxpayers has been acknowledged by the government: FM
12:04 To set up a committee to review the implementation of FRBM Act.
12:03 We will introduce a bill on targeted delivery of financial services using Aadhar Card.
12:02 The fiscal target has been set 3.5% of the GDP.
12:01 “Ek Bharat Shreshath Bharat” will be launched to connect the states and districts of the country in an organized manner.
12:00 The Company Act Bill will be improved to provide the ease in doing business for startups
11:59 Automation to 3 lakh fair price shops will be provided
11:58 Rs. 25,000 crore for recapitalisation of public sector banks. General insurance companies owned by the govt to be listed in stock exchanges.
11:57 Government in ease of doing business: IT enabled Government agencies.
11:56 Pradhanmantri Mudra Yojna – Rs 1.86K crore is the target
11:55 RBI Act to be amended to set up monetary policy: FM
11:54 A vibrant financial sector is critical to the growth of the Indian economy: FM
11:53 Financial sector Reforms: The quotes in financial firm regulations will be presented as a bill in the parliament.
11:47 Rs 3000 crore for nuclear power generation.
11:46 India has rich natural resources like Gas and Oil. The government will focus on Gas Productivity from Ultra Water Resources, deep sea.
11:44 We have added the highest ever capacity in major ports. Rs 800 crore for this initiative.
11:43: Passenger Traffic on roads has been made better for the common man. The government will improve the motor vehicle act. : FM
11:42 Infrastructure and Investment: For roads and highways, total investment would be Rs. 97,000 crores including “Gram Sadak Yojna”.
11:40 50,000 km of state highways to be taken up for upgradations as national highways: FM
11:37 The state employment exchanges will be connected to National Employment Panel.
11:36 A higher education Financing Agency to be set up, with a fund of Rs 1000 crore: FM
11:35 Education Sector and Job Creation: The Government will pay the Employee Pension Fund for all new employees for the first three years. Rs. 1000 crore for Job Creation Scheme.
11:34 Rs 9,000 crore allocated for Swachh Bharat: FM
11:33 500 Crore Rupees for SC, ST and women entrepreneurs in Stand Up India Program
11:32 National Dialysis Program in the country; funds will be made available
11:31 “Jan Aushidhi Yojna” to introduced in 2016: Arun Jaitley
11:29 100% rural electrification by May 1, 2018: FM
11:25 Aim to double the income of farmers in 5 years: FM
11:22 We need to spread digital literacy in rural areas: FM
11:20 2.87 lakh crore grants to gram panchayats and municipalities – a quantum jump of 228%: FM
11:18 The Agriculture Sector got Rs 35,984 crore for Agriculture in 2016-17
11:17 Rs 20,000 crore to be set up in a dedicated irrigation fund under NABARD: FM
11:15 Budget 2016 is made by considering 9 Pillars:
- Agri/Farm and welfare
- Rural Focus
- Social Healthcare
- Education and Job creation
- Investments to improve quality of Life
- Infrastructure Focus
- Ease of Business
- Fiscal discipline
- Tax Reforms
11:13 FM Arun Jaitley recited Hindi couplets means “we converted every challenge into opportunity”.
11:12 28 lakh hectares will be added in the new Farm Irrigation Scheme
11:09 Recapitalization of the banks will be done by next fiscal year: FM
11:07 GDP Growth has gain speed to 7.4 per cent.
11:06 CPI Inflations has come down to 5.4 per cent.
11:04 FM Arun Jaitley: IMF has hailed India as a bright spot
11:04 AM FM Jaitley: Indian economy has held its ground firmly
11:03 Presenting the budget when the global economy is in a serious crisis: Arun Jaitley
11:02 The Budget Speech has been started.
10:55 Finance Minister Arun Jaitley to present Union Budget. Stay connected.