timmy Posted February 28, 2015 Report Posted February 28, 2015 The D-day has arrived. Union Finance Minister Arun Jaitley presented Union Budget 2015-16 in Parliament with a stentorian speech assuring a stronger economy.. Andhra Pradesh Chosen as the First State under Digital India Programme. Wi-fi for 5 Lakh Villages. Cigarettes to be Costlier, Shoes/footwear to be Cheaper. Excise duty on leather products decreased by 6 per cent. 10 Years Imprisonment for Concealment of Black Money stashed abroad. 2% Surcharge for Individuals whose annual income is above Rs 1 Crore. Will encourage online Transactions, strive to make cash-less India. Individual Tax payer gets Benefit upto Rs 4,44,200/-. Transport Allowance Doubled. Hiked from Rs 800 to Rs 1600. Increase limit of Deduction of Health Insurance Premium to Rs 25,000. Service Tax to be increased from 12.36% to 14%. PAN number for any purchase above Rs 1 Lakh is Mandatory. Wealth Tax has been Abolished. No change in Income Tax Slabs. 5 Per Cent Cut in Corporate Tax over next 4 years. Special Assistance to Bihar, West Bengal. FM dodges on Special Status to AP. Govt will provide its full support to newly formed states Andhra Pradesh, Telangana. Qutb Shahi Tombs at Hyderabad, Telangana to be funded for protection, development. IIT in Karnataka, IIMs in Andhra Pradesh, Jammu & Kashmir. Additional Rs 1000 Crore Fund for Nirbhaya Act. 2 Lakh Accident Insurance at Rs 1 premium per month. Rs 1000 Crore Funds for Start-Ups. 5 Ultra Mega Power Projects each with Capacity of 4000 mw will be set up. Gold Bonds to be introduced for Gold Monetisation. Tax-free Infra Bonds in Roads & Railways. Job for at least 1 member per family. Rs 1.25 Lakh Crore Public Investment in FY 16. Direct Cash Transfers to be expanded to Rs 1.1 Crore. 5300 Crore for Micro Irrigation. Rs 25,000 Crore for Rural Development Fund. Govt. will cut down subsidy leakage but not subsidies. Housing for ALL by 2022. Jaitley accepts Speaker's offer to sit and deliver Budget speech.. Jaitley confirms MNREGA (Mahatma Gandhi National Rural Employment Gurantee Act). Allotted Rs 34,699 Crore for MNREGA.. Government plans to build 6 Crore Toilets. Aim to make India a Manufacturer Hub of the World. Will meet 4.1% Fiscal Deficit Target. 80,000 Secondary Schools to be Upgraded. Education, Skill develeopment of Youth is key Focus. Rural-Urban divide is no longer acceptable. Our Objective is to keep inflation below 6 per cent. Electrification of Villages by 2020. Rupee has become stronger by 6.5 Per Cent: Finance Minister. People of India have voted for Growth & Transparency: Jaitley. Investors are seeing us with renewed hope: Jaitley. We're Round the Clock, Round the Year Government. States economically empowered more than ever before: Jaitley. India is going take off on a faster growth trajectory: Jaitley
timmy Posted February 28, 2015 Author Report Posted February 28, 2015 Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Here is your 10-point cheat-sheet to this story: 1) Mr Jaitley said growth will accelerate to between 8 and 8.5 percent in the fiscal year starting in April. A pace of 7.4 per cent is expected for the current year. 2) "India is about to take off," Mr Jaitley, 62, said early in his speech to lawmakers. "The world is predicting that this is India's chance to fly." 3) He forecast inflation at 5 per cent by the end of the fiscal year ending March 2016, undershooting the Reserve Bank of India's 6 per cent target and creating room to cut interest rates. Annual inflation was 5.1 per cent in January. 4) Mr Jaitley said he would stand by the fiscal deficit target for the 2014/15 fiscal year, which ends March 31, of 4.1 percent of gross domestic product. 5) But he pushed back by a year, to 2017/18, a deadline for cutting the deficit to 3 percent of GDP. In 2015/16, the deficit will be 3.9 percent of GDP, above the 3.6 percent target inherited from the last government. 6) India will reduce tax on businesses to 25 per cent over four years from a current 30 per cent, with a view to boosting spending and job creation, the minister said. Some local companies had hoped that the budget would reduce their tax liabilities to help them kickstart investments badly hit by the Indian economic slowdown in the last couple of years. 7) The Minister has proposed increasing the service tax rate and education cess to 14 per cent from the current 12.36 per cent. 8) The government will abolish the wealth tax and replace it with an additional 2 per cent surcharge on the country's super rich, 9) The budget shows an increase of Rs. 70,000 crore ($11.4 billion) in road and rail investments next year and announced that the government would commission five "ultra-mega" generation projects to end chronic power shortages. 10) The government has added 5,000 crores boost the efficiency of MNREGA, the rural job creation scheme that is India's costliest welfare programme.
timmy Posted February 28, 2015 Author Report Posted February 28, 2015 Finance minister Arun Jaitley said the government would set up one institution per one state. He proposes an AIIMS in J&K, Punjab, Tamil Nadu, Assam and Himachal Pradesh, an IIT in Karnataka and an IIM in J&K and Andhra Pradhesh. He also proposed to set up a truly IT student based financial authority to administer and monitor scholarship to higher education. https://www.youtube.com/watch?v=bgjoy2PqF8k :3D_Smiles_38: :3D_Smiles_38: :3D_Smiles_38:
rezzz Posted February 28, 2015 Report Posted February 28, 2015 As the government announced to deduct 6% Excise Duty on Leather, all the leather products like shoes, bags, belts would get cheaper. Soft drinks would also become cheaper and pocket-friendly for common man. LCD TVs, Mobiles, Electric Cars, Vegetable Oils, Diamonds, hardware parts of Computer, Toilet soaps are likely to come down. Government has yet again taken on smokers. Cigarettes would get costlier and may burden smokers. With government increasing its Service Tax from 12.36% to 14%, eating out in restaurants and hotels and going to amusement parks would be dearer. Other services like consultation with lawyers, Gym membership, Club membership may also cost more from the next financial year
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 manchi budget esp.. corporate tax 25%. but small businesses ki inka thakkuva chesinte 20% baavundu. high earners ki 2% surtax.. good, but 5% chesinte baavundu. wealth tax scrapped. good. but inheritance tax pettinte baavundu.
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 BJP sucks.... north indian party nunchi em expect chesav
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 best part of Budget.. credit for small and micro businesses. special bank for that. worst part of Budget.. some sort of stupid startup fund. if the startup fund doesn't work, its waste of money. If it works, it'll create distortion in the financial market, leading to the govt quasi- controlling the financial market For startups sake, I hope it doesn't work, and some politician eats that 1000 crores. Its the best possible outcome.
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 kaani India lo corporate tax kante, additional cess le ekkuva. but still, inka slow ga singapore ni vadilesi andaru India lo incorporate cheskuntaaru companies ni. good. modi ki credit ivvalsindhe. chesthaanu annadhi chesaadu.
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 AP ki anyayam jarigindi ani nakka antunnadu. hehe.. orei aa anyayam Fourteenth Financial Commission lo ne jarigipoyindi bey. telivi undi unte, Jaya tho, Naveen Patnaik tho cheyyi kalipi, 50% share adige vaadivi. inka siggu lajja vadilesi, Japan national bank deggara ki velli appu adugu po. Infra project lanni, central govt help lekunda chesko. veelaithe central ki transfer cheyyalsina tax lu withhold chesanna sare, state ni nadupu. chukkalu choopinchu Modi ki. vadalaku. nee prathapam AP lo opposing caste vaalla meedha kaakunda, ila bayata vaalla meedha choopettadam nerchuko
lolbob_fan Posted February 28, 2015 Report Posted February 28, 2015 bad times, ippudu world bank deggara kooda adagalem. AP mari underdeveloped state kaadu ga. Japanese investment kante, Japanese loan teesko CBN. pls. vaallu isthaaro ledho, but try cheyyi.
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