Highlights of Union Budget 2015

1 Abolition of Wealth Tax.


2 Additional 2% surcharge for the super rich with income of over Rs. 1 crore.


3 Rate of corporate tax to be reduced to 25% over next four years.


4 No change in tax slabs.


5 Total exemption of up to Rs. 4,44,200 can be achieved.


6 100% exemption for contribution to Swachch Bharat, apart from CSR.


7 Service tax increased to14 per cent.


AGRICULTURE

1 Rs. 25,000 crore for Rural Infrastructure Development Bank.


2 Rs. 5,300 crore to support Micro Irrigation Programme.


3 Farmers credit – target of 8.5 lakh crore.


INFRASTRUCTURE

1 Rs. 70,000 crores to Infrastructure sector.


2 Tax-free bonds for projects in rail road and irrigation


3 PPP model for infrastructure development to be revitalised and govt. to bear majority of the risk.


4 Rs. 150 crore allocated for Research & Development


5 NITI to be established and involvement of entrepreneurs, researchers to foster scientific innovations.


6 Govt. proposes to set up 5 ultra mega power projects, each of 4000MW.


EDUCATION

1 AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.


2 IIT in Karnataka; Indian Institute of Mines in Dhanbad to be upgraded to IIT.


3 PG institute of Horticulture in Armtisar.


4 Kerala to have University of Disability Studies


5 Centre of film production, animation and gaming to come up in Arunachal Pradesh.


6 IIM for Jammu and Kashmir and Andhra Pradesh.


DEFENCE

1 Rs. 2,46,726 crore for Defence.


2 Focus on Make in India for quick manufacturing of Defence equipment.


WELFARE SCHEMES

1 50,000 toilets constructed under Swachh Bharath Abhiyan.


2 Two other programmes to be introduced- GST & JAM Trinity. GST will be implemented by April 2016.


3 MUDRA bank will refinance micro finance orgs. to encourage first generation SC/ST entrepreneurs.


4 Housing for all by 2020.


5 Upgradation 80,000 secondary schools.


6 DBT will be further be expanded from 1 crore to 10.3 crore.


7 For the Atal Pension Yojna, govt. will contribute 50% of the premium limited to Rs. 1000 a year.


8 New scheme for physical aids and assisted living devices for people aged over 80 .


9 Govt to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund.


10 Rs. 5,000 crore additional allocation for MGNREGA.


11 Govt. to create universal social security system for all Indians.


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


TOURISM

1 Develpoment schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to be under the new toursim scheme.


2 Visa on Arrival for 150 countries.

Source  : The Hindu

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Author:

Neeraj; an entrepreneur & a visionary in the field of Railway, Defense & Automobiles, is a graduate in commerce and a Harvard Business School Alumni. He’s an expert in govt. liasoning & contracting and has an exceptional network & connections at both local as well as global level. He’s an expert in Market Strategy & Planning and has served number of overseas companies as an advisor/consultant. He takes a profound interest in upcoming startups & is very receptive towards ground-breaking ideas & innovations. He likes to brainstorm those ideas and if the values & philosophies matches; he is even ready to invest his resources, serve as a mentor or act as an incubator to futuristic businesses.

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