Budget 2015 updates

Budget 2015 Highlights


India Budget updates:

  • Jan Dhan Yojana, coal auctions and Swachch Bharat our achievements: FM
  • Proposal to allocate Rs 34600 cr for MNRGA
  • FM: We will finish the journey to 3% fiscal deficit in two years
  • Extra Rs 1000 crore to Nirbhaya Fund
  • Visa on Arrival already issued to 43 countries, 150 countries to be covered of Visa on Arrival in stages
  • Govt to introduce Indian-made gold coins with Ashok chakra to reduce demand for foreign coins
  • Govt to incentivise credit, debit card transactions: Rupay Debit Cards to be incentivised. Move towards paperless transactions
  • Tax-free infra bonds for railways and roads
  • To Allocate `75 Cr For Electrical Vehicles: FM
  • National Optical Fibre Network to be extended: FM
  • 3 new pharma institutes in Maharashtra, Rajasthan and Chhattishgarh: FM
  • IIMs in J&K and Andhra Pradesh, IIT in Karnataka: FM
  • AIIMS-like institutioins in J&K, Punjab, Himachal and Assam: FM
  • Propose Accident Insurance, Pension Schemes For Poor: FM
  • Armed forces to get cash boost of Rs 2 lakh crore
  • Rs 1,200 crore for fast track corridor between Ahmedabad and Mumbai
  • Corporate tax Rates proposed to be reduced from 30% to 25% in next 4 years
  • Budget Estimates of Expenditure: 17 .77 lakh cr, of which Non Plan is 13.12 lakh cr, and Plan is 4.65 lakh crores
  • Atal Pension Yojana to be launched
  • nonfiling of returns, or filing of returns with inadequate information will attract RI
  • benami property transaction bill to tackle black money transaction in real estate soon
  • Fees from royality decreased from 25% to 10%
  • Wealth tax abolised . new additional tax @ 2% from income above Rs 1 crore
  • Health Insurance Premium increased from Rs 15000/- to Rs 25000/-
  • Health Insurance Premium For Senior citizen increased from 15 to 30 k
  • very senior citizen a(above 80 year ) Rs 30 for medical treatment.
  • All contributions to Sukanya Samridhi  scheme to be tax free: Finance Minister
  • Transport allowance increasing Rs 800 to Rs 1600 increase
  • Service tax exemption to varist bima yojna
  • Yoga included in Charitable trust
  • for middleclass, for contribution to National Pension Scheme, exemption raised from Rs 1,00,000 to Rs.1,50,000 under Section 80CCD
  • Individual tax payer will benefit to the extent Rs.4,44,200/- from the exemptions announced
  • Rs 50,000 deduction in taxable income for contribution to NPS
  • No change in Income tax slabs. Income tax rates remain same.