INDIA BUDGET

2015-16

VISION 2022 of

Team India

BY :-SHREE HARSHA LN, PAVAN C

AND

DARSHAN S P

Budget Special

union excise duties, 10%

service tax and other taxes, 9%

non tax revenue, 10%

non debt capital recipts , 4%

income tax 14%

customs, 9%

corporation tax, 20%

borrwingsand

liabilites, 24%

union excise duties

service tax and other taxes

non tax revenue

non debt capital recipts

income tax

customs

corporation tax

broowings and liabilites

Rupee Break-up How It comes

Budget Special

central plan, 11%

defence, 11%

interest payments, 20%

non plan assitance to state and Uts, 5%

other non plan expenditutre, 11%

plan assistance to state and Uts, 9%

state share of duties, 23%

subsidies, 10%

central plan

defence

interest payments

non plan assitance to state andUts

other non plan expenditutre

plan assistance to state and Uts

state share of duties

subsidies

Rupee Break-up How It Goes

Budget Special e

Highlights of budget-2015

Taxation1. Abolition of wealth 2. Additional surcharge for the super rich with income over Rs 1 cr3. Rate of corporate tax to be reduced to 25% over next four years4. No change in tax slab rates5. Total exemption of up to Rs 4,44,200 an be achieved6. 100% exemption for contribution to swachha Barath, Ganga Kalyana apart from

CSR7. Service tax increased from 12.36 % to 14%

Budget Special

Agriculture

1. Rs. 25000 crs for rural infrastructural Development Bank2. Rs. 5,300 crs to support Micro irrigation Programme3. Farmers credit target of 8.5 lakh crs

Budget Special

Infrastructure

1. Rs. 70,000 crs to infrastructure2. Tax free bonds for projects in rail road and irrigation3. PPP model for infrastructure development to be revitalized and govt to bear

majority of the risk4. Rs. 150 crs allocated for R & D5. Govt proposes to set up 5 ultra-mega power projects ,each of 4000MW

Budget Special

Education 1. AIIMS in J&K, Punjab,

Tamil Nadu, Himachala Prsdesh, Bihar and assam2. IIT in Karnataka : Indian institute of mines in Dhanbad to be

upgraded to IIT3. PG institute of horticulture in Amritsar4. Kerala to have University of Disability studies5. Centre of film production , animation and gaming to come up in

Arunachala pardesh6. IIM for J&K and A P

Budget Special

Defence1. Allocation of 2,46,726 crs an increase of 9.8 % over last year2. Focus on make in India for quick manufacturing of Defence Equipment

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Welfare Schemes1. 6 crs toilets constructed under swachha Bharath abhinaya2. Two other programmes to be introduced – GST & JAM. GST will be

implemented by April 20163. MUDRA bank will refinance micro finace orgs. To encourage fist generation

SC/ST Enterpreneurs4. Housing for all by 20205. Upgradation of 80,000 secondary schools6. DBT will be further be expanded from 1cr to 10.3 crs

Budget Special

Welfare Schemes contd…..

7. For the Atal pension yojana, govt will contribute 50% of the premium limited toRs.1000 a year

8. New scheme for physical aids and assisted living devices for people aged over 809. Govt to use Rs. 9000 crs unclaimed funds in PPF/EPF for senior citizen fund10. Rs.5000 crs additional allocation for MGNREGA

Budget Special

Renewable energy

1. Rs. 75 crore for electric cars production.2. Renewable energy target for 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass and 5K MW in small hydro.

Budget Special

Torisum

1. Develpoment schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , JallianwalaBagh, Qutb Shahi tombs at Hyderabad to be under the new toursimscheme.2. Visa on Arrival for 150 countries.

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Gold 1. Sovereign Gold Bond, as an alternative to purchasing metal gold.2. New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts.3. To develop an Indian gold Coin, which will carry the Ashok Chakra on its face, to reduce the demand for foreign coins and recycle the gold available in the country.

Budget Special

Other imp points 1. transport allowance is increased from Rs.800 to Rs.16002. PF is optional for low income employed peoples3. PAN is not compulsory for up to 1 lakh transactionsMedical re-imbursement allowance is increased from Rs.15000 to

Rs.250004. 7 years imprisonment if IT returns are not submitted

Budget Special