Budget 2015-16

BUDGET HIGHLIGHTS ;

ECONOMY & RELATED

Ø  Real GDP growth to jump to 7.4%, making India the largest growing economy in the world.

Ø   CAD for this year is expected to be 1.3% of GDP

Ø  Expect CPI inflation to remain close to 5% by end of the year, FM: Our objective is to keep inflation below 6 percent

Ø  Expect to implement Goods & Services tax by April 2016

Ø   Incremental change is not going to take us anywhere we have to think in terms of quantu

Ø  MNREGA to stay, says FM

Ø   Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in

2015-16, 3.5% in 2016-17, 3% in 2017-18.

Ø  Govt to bring a comprehensive bankruptcy code for the ease of doing business by 2015-16,

says FM Jaitley

PROPOSALS RELATING TO TAX & OTHER LAWS

Ø  To abolish Wealth Tax;

Ø  Corporate Tax Rate reduced to 25% for over next four years. Exemptions & deductions to be scrapped

Ø  Exemptions For Individual Tax Players To Continue

Ø  Yoga to be included as Charitable Purpose

Ø  To Enact New Law For Black Money

Ø  Concealment of income will attract 10 yrs of rigorous imprisonment

Ø  Stringent penalties and jail for Black Money holders and evaders

Ø  Benami property transaction bill to tackle black money transaction in real estate soon

Ø  Foreign Exchange Management Act To Allow For Seizure Of Foreign Assets

Ø  FEMA Act to be amended to incorporate Black Money provisions: Finance Minister

Ø  To Allow Tax Pass-through For Alternative Investment Funds

Ø  To Tighten Reporting Of Cash Transactions

Ø  To Have Benami Transaction Prohibition Bill For Domestic Black Money\

Ø  Quoting PAN a must for all purchases above One Lakh

Ø  100% deduction allowed for all contributions in Swachh Bharat Abhiyan [except contribution in CSR]

Ø  Proposes to rationalise capital gains tax regime for real estate investment trusts

Ø  To defer GAAR by 2 years

Ø  Tax pass through to be allowed in alternative investment funds to boost small firms, startups

Ø  Propose To Rationalise Capital Gains Regime For REITs/InvITs

Ø  TO reduce Custom Duty on 22 items

Ø  Rental Income from REITS to have pass through facility

Ø  Income Tax On Royalty Fees For Technical Reduced To 10%

Ø   2% Addl. Surcharge on Super Rich.

Ø  Reduced taxes on Technical Services to 10% from 25%

Ø  Tax reduce for foot wear above 1k per pair

Ø  Service Tax increased to 14%

Ø  80D Health insurance 15000 to 25000, For senior citizens 30000

Ø  80DDB increased to 80000

Ø  Wealth Tax abolished

Ø  Tax on royalty income decrease from 25% to 10%

Ø  Transport Allowance exemption increased to 1600 pm

Ø  Domestic Transfer Pricing limit increased from 5crores to 20 crores

Ø  NBFCs with size of Rs 500 cr and above to get parity in recoveries by including in SERFASIA Act as financial institution.

 

OTHER HIGHLIGHTS

1)      6 crore houses by 2020 biggest ever construction project

2)      Outlay upped by 24,000 cr for rail, road

3)      Capex for state PSUs to be Rs 3.17 lakh crore

4)      Budget 2015: Jaitley unveils budget for growth, investment

5)      Universal social security system may prove costly

6)      FM has announced three social sector schemes now...after speaking of double digit growth,

7)      making India prosperous by 2022, etc etc, as well as talking about rationalizing subsidies,

8)      Real GDP growth to jump to 7.4%, making India the largest growing economy in the world.

9)       CAD for this year is expected to be 1.3% of GDP

10)   Expect CPI inflation to remain close to 5% by end of the year, FM: Our objective is to keep inflation below 6 percent

11)   Expect to implement Goods & Services tax by April 2016

12)   FM: Incremental change is not going to take us anywhere we have to think in terms of quantum

13)   MNREGA to stay, says FM

14)    Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in

2015-16, 3.5% in 2016-17, 3% in 2017-18.

15)   Govt to bring a comprehensive bankruptcy code for the ease of doing business by 2015-16,

says FM Jaitley

16)   NBFCs with size of Rs 500 cr and above to get parity in recoveries by including in SERFASIA Act as financial institutions

17)   6 crore houses by 2020 biggest ever construction project

18)   Outlay upped by 24,000 cr for rail, road

19)   Capex for state PSUs to be Rs 3.17 lakh crore

20)   Budget 2015: Jaitley unveils budget for growth, investment

21)   Universal social security system may prove costly

22)   FM has announced three social sector schemes now...after speaking of double digit growth,

23)   making India prosperous by 2022, etc etc, as well as talking about rationalizing subsidies,

24)   Tax-free infra bonds proposed for rail, road

 

25)   Budget 2015: India's 2015/16 GDP growth seen at 8-8.5% y/y, says FM Arun Jaitley

 

26)   If Sarfaesi is applied properly, many over-leveraged businesses will go bust

 

27)   Startups will get capital boost of Rs 1000 crore

 

28)   Public Sector Ports to be made firms under Companies Act

 

29)   Construction, CG stocks surge up to 13% as PM begins Budget speech

 

30)   So, both PM and CEA said yesterday that small systemic changes will have a big impact than

30)

31)   Need to upgrade 80,000 secondary schools Arun Jaitley

 

32)   Ease of business with ebiz portal, this will get further push

 

33)   Expert panel to prepare draft on easing permissions for doing business

 

34)   Ok, so big hike in spending on infrastructure...that will be a growth booster...especially

34)

35)   in the roads sector where multiplier effects are visible quickly...if this extra Rs 70,000

35)

36)   cr is actually spend...that's a real growth push

 

37)   5 UMPPs in power sector to unlock investments of Rs 1 lakh crore

 

38)   The move is positive for stocks like UltraTech Cement, JK Lakshmi, India Cement, ACC, and

38)

39)   Kajaria Ceramics

 

40)   Hmm...Rs 20,000 crore annual infrastructure fund and Rs 1,000 crore start-up fund...no

40)

41)   quibbles about the infra fund but why only a tiny start up fund?

 

42)   Budget 2015: 4.1% fiscal deficit target to be met; 3% targeted in medium term, says FM

42)

43)   Jaitley

 

44)   The S&P BSE Auto Index (0.33 per cent), S&P BSE Healthcare Index (0.21 per cent), S&P BSE

44)

45)   Metal Index (0.05 per cent) and S&P BSE IT Index (0.07 per cent) are top sectoral losers

 

46)   Second unit of Kodanakulam N plan to be commissioned in 2015-16

 

47)   Allocation to MNREGA upped by Rs 5,000 crores

 

48)   Nat'l Infrastructure Fund will try to leverage infra companies ; Tax free bonds for Roads ,

48)

49)   Railways & irrigation: @arunjaitley #Budget2015

 

50)   How does FM plan to reform PPP projects, most of which are under the water?

 

51)   Corporatisation of government ports (major ports) welcome idea

 

52)   MNREGA cash boost will make it highest allocation ever, rural wages will also get boost

 

53)   Another 5 UMPPs announced. But the earlier ones are still stuck. What happens to those?

 

54)   Budget 2015: India's 2015/16 GDP growth seen at 8-8.5% y/y, says FM Arun Jaitley

 

55)   PM farm plans get Rs 3,000 crore extra allocation

 

56)   To invest Rs 20,000 crore in Infrastructure Fund

 

57)   To spend extra Rs 70,000 crore on boosting Infra this year

 

58)   To spend extra Rs 70,000 crore on boosting Infra this year

 

59)   To address job creation in software sector

 

60)   CRISIL analysis: CRISIL expects CAD at 1.2% of GDP in 2014-15, and 1.1% in 2015-16

 

61)   FMC to be merged with Sebi to strengthen regulation

 

62)   Public debt agency to bring borrowings under one roof

 

63)   Section 6 of Fema to be amended

 

64)   Budget 2015: Jaitley unveils budget for growth, investment

 

65)   Government is stepping in to invest in infrastructure with debt laden private companies

65)

66)   floundering and no bankable model for infra funding avialable Will it be an Uncommon Budget

66)

67)   for the Common Man? Watch Budget For Achhe Din on ET NOW. 7am onwards on 28th Feb

 

68)   Big infrastructure push to accelerate growth

 

69)   ‘Need to cut subsidy leakage; aiming at rationalising subsidies’

 

70)   Pragmatic view on fiscal deficit

 

71)   Higher NREGA allocation could boost farm wages in the short term

 

72)   Task force to be set up to establish grievance agency for financial redressals

 

73)   CRISIL analysis: Government committed to keeping inflation below 6%, CRISIL expects CPI at

73)

74)   5.8% in FY16

 

75)   Direct Tax plan to get competitive edge

 

76)   GST to bring greater transparency

 

77)   Merger of FMC and SEBI a good idea ... equity and commodity markets will now have a single

77)

78)   watchdog. But the capacity, knowledge base and efficiency of this organisation has to be

78)

79)   boosted massively from today's levels.

 

80)   Gold monetisation scheme to replace deposit and metal loans

 

81)   Budget 2015: Propose universal social security; Rs 2 lakh accident insurance, says FM

81)

82)   Jaitley

 

83)   5 cr small business to get mudra bank

 

84)   Nifty slips below 8,900 and is near day’s low at 8868.35, up 23.75 points or 0.27 per cent.

 

85)   Budget: Govt to prioritise completion of 1 lakh kilometers of additional roads, says FM Arun

85)

86)   Jaitley

 

87)   Ok, he's talking of direct taxes...EPFO...middle class time in the budget speech

 

88)   Markets pare gains, but in green; Tata Steel and BoB surge upto 4%

 

89)   FM said earlier, FMC will be merged with SEBI, something that was widely anticipated...a

89)

90)   good move

 

91)   Rs 1000 crore boost to Nirbhaya Fund

 

92)   Rupay Debit Cards to be incentivised. Move towards paperless transactions

 

93)   Am I hearing this correct? All direct tax exemptions to be scrapped?

 

94)   Commodity futures markets will grow in the next few years and mayovertake stock volumes as

94)

95)   commodity futures will be considered assecurities regulated by Sebi

 

96)   Visa on arrival for 150 countries from 43

 

97)   Current status of markets

 

98)   #Budget2015 #Arunjaitley: propose to increase visa-on-arrival to 150 countries to increase

98)

99)   tourism

 

100)                       Green plan gets Rs 75 crore for 2015-16 cash boost

 

101)                       Arun Jaitley Budget fails to impress Street: Sensex rangebound, Nifty tests 8850 levels

 

102)                       To merge FMC with SEBI to strengthen regulation; To amend Section 6 FEMA: MCX rallies 8.5

102)

103)                       per cent

 

104)                       Public dispute bill to ease tussle over projects

 

105)                       RBI powers may undergo a dilution as a new monetary policy committee with government

105)

106)                       nominees will decide the inflation target and timing as well as extent of rate cuts or

106)

107)                       hikes.

 

108)                       Regulatory reform law for infrastructure

 

109)                       Skill India needs to be cooordinated with Make In India

 

110)                       Budget 2015: Rs 1000 crore announced to enable IT start-ups

 

111)                       Budget 2015: Rs 1000 crore announced to enable IT start-ups

 

112)                       National Skills Mission planned to power youth

 

113)                       Rs 15,000 crore scheme to skill rural India

 

114)                       Poor students get fund aid through PM scheme

 

115)                       Efforts to bring in idle gold and improve supply are interesting but keep your fingers

115)

116)                       crossed as past schemes have failed.

 

117)                       AIIMS-like institutioins in J&K, Punjab, Himachal and Assam

 

118)                       IIMs in J&K and Andhra Pradesh, IIT in Karnataka

 

119)                       3 new pharma institutes in Maharashtra, Rajasthan and Chhattishgarh

 

120)                       Bankruptcy code and quick resolution of contracts and disputes are best near-term measures

120)

121)                       for the business

 

122)                       National Optical Fibre Network to be extended

 

123)                       Merger of forward markets commission with Sebi most welcome

 

124)                       Budget 2015: MGNREGA allocation increased by Rs 5,000 crore; at highest-ever level

 

125)                       Govt committed to Andhra and Telanga needs; Special assistance to Bengal, Bihar

 

126)                       To introduce Gold Monetising Scheme; To earn interest:FM

 

127)                       Merger of forward markets commission with Sebi most welcome

 

128)                       Budget 2015: Finance Minister Arun Jaitley proposes universal social security system

 

129)                       Commence work on Indian Gold Coin; to carry Ashoka Chakra

 

130)                       Indian Gold Coin to recycle local gold; cut overseas gold demand

 

131)                       A concrete effort by the Centre to improve ease of doing business, replacing slew of permits

131)

132)                       with a priority permission

 

133)                       Boost to entrepreneurship and start-ups appeals to the educated youth

 

134)                       Jewellery companies such as Gitanjali Gems, Shrenuj & Co, Tribhovandas Bhimji Zaveri gain

 

135)                       Sound initiatives to step up investment in infrastructure

 

136)                       Rs 10,000 crore for women and child development

 

137)                       Defence purchases to get Make in India boost

 

138)                       Budget 2015: Government plans a large scale push on infrastructure sector, says FM Jaitley

 

139)                       Low cost populism manifest in the pension and insurance cover on offer

 

140)                       Market reacts to Budget and slips in red

 

141)                       New bankruptcy law to facilitate ease of doing business: KMPG

 

142)                       Rs 346.99 billion for NREGA scheme

 

143)                       India’s gold coin can become new black money

 

144)                       Extension for visa on arrival to 150 countries a positive for tourism: KPMG

 

145)                       Armed forces to get cash boost of Rs 2 lakh crores

 

146)                       FY16 boost for health sector at Rs 3 lakh crore

 

147)                       Rs 1,200 crore for fast track corridor between Ahmedabad and Mumbai

 

148)                       Total expenditure estimated at crore Rs 17.70 lakh crore

 

149)                       FY16 expenses at Rs 13.13 lakh crore

 

150)                       Sovereign gold bond a good way to monetize gold stocks

 

151)                       Budget 2015: Finance Minister Arun Jaitley proposes universal social security system

 

152)                       Alphabet soup of the new schemes make up for good speeches but unlikely to be delivered on

152)

153)                       the ground

 

154)                       Budget 2015: Gold Monetization Scheme proposed to reduce demand for overseas gold

 

155)                       Sovereign gold bond a good way to monetize gold stocks.

 

156)                       Fiscal deficit will be 3.9% of GDP

 

157)                       Union Budget 2015 on rural infrastructure

 

158)                       Revenue deficit at 2.8% of GDP

 

159)                       Punita Sinha: Rationalising types of foreign investment should improve capital flows

 

160)                       Greater emphasis on rural economy excellent

 

161)                       #Budget2015 #Arunjaitley: Budget Estimates of Expenditure: 17 .77 lakh cr, of which Non Plan

161)

162)                       is 13.12 lakh cr, and Plan is 4.65 lakh crores

 

163)                       FM has dones well to balance needs of all segments

 

164)                       Globally competitive tax system an excellent idea

 

165)                       Budget 2015: To merge FMC with SEBI, MCX stock up

 

166)                       FY16 health sector allocation at Rs 3,31,500 cr

 

167)                       Budget 2015: To merge FMC with SEBI, MCX stock up

 

168)                       FY16 health sector allocation at Rs 3,31,500 cr

 

169)                       Ports to be corporatised. An excellent idea

 

170)                       Investment in infrastructure to go up by Rs 70,000 crores: Jaitley

 

171)                       Midcap Index in the red

 

172)                       Corporate tax trimmed to 25% from 30% over next 4 years

 

173)                       Corporate tax trimming will boost investments

 

174)                       Corporate Taxation to be cut in 4 year

 

175)                       Gold monetization necessary to strengthen capital market: Punita Sinha

 

176)                       West Bengal and Bihar get special sops like Andhra and Telangana, is this a political move

 

177)                       Amendment of Sec 6 of FEMA market RBI’s work difficult

 

178)                       To launch measures to tackle black money

 

179)                       Union Budget 2015: Finance Minister Arun Jaitley announces plan for "ultra mega" power

179)

180)                       projects

 

181)                       Fiscal deficit target at 3.9% of GDP slightly higher than consensus projections. Plan

181)

182)                       spending ie government investment looks stagnant

 

183)                       Budget 2015: To promote cashless transactions via RUPay debit cards

 

184)                       Govt to launch PM Suraksha Bhima Yojana Jaitley

 

185)                       Union Budget 2015 Arun Jaitley wants government ports to become companies

 

186)                       Electronic filing of statements to track evaders and take action

 

187)                       Bill to enforce action against Black Money will be tabled in Parliament

 

188)                       Comprehensive new law to tackle black money to be in place soon

 

189)                       Greater play for PEs. Local private equity houses will be able to attract contributions from

189)

190)                       all classes of foreign investors. At present only NRIs can invest in domestic funds. Such

190)

191)                       investments will happen automatically without approaching FIPB

 

192)                       Penalty for evaders will be 10 years in jail

 

193)                       Basic rate of CorporateTax to be reduced from 30% to 25% in next 4 years;to be accompanied

193)

194)                       by reducing exemptions: @arunjaitley #Budget2015

 

195)                       Clubbing FDI and FPI under an unified foreign investment regime a positive step. It will

195)

196)                       reduce administrative hassles.

 

197)                       Hiding of income will face penalty of 300% of asset value

 

198)                       Hiding of income will face penalty of 300% of asset value

 

199)                       Phased corporate tax reduction one of the boldest moves.

 

200)                       Atal Pension Yojana to be launched Jaitley

 

201)                       FM: Corporate tax cut to start from next year

 

202)                       Atal Pension Yojana to be launched Jaitley

 

203)                       FM: Corporate tax cut to start from next year

 

204)                       Tax evasion in relation to foreign asset will be predicate offence

 

205)                       Budget 2015: Government announces bank to fund small entrepreneurs

 

206)                       Cut in Corporate tax rate cut to 25 per cent from 30 per cent over 4 years is an excellent

206)

207)                       idea

 

208)                       Foreign exchange management act to get more tooth

 

209)                       FEMA will be rejigged to include black money provisions

 

210)                       Benami properties will face more tax heat

 

211)                       PAN must for any sale exceeding Rs 1 lakh

 

212)                       Sensex bounces back after FM said that corporate tax rate will be cut to 25 per cent from 30

212)

213)                       per cent over 4 years

 

214)                       FM says employees can soon chose between PF and new pension scheme, meaning possibly PF

214)

215)                       won't be mandatory, that's a huge change for salaried Indians...

 

216)                       Easing inflation provides room for rate cut by RBI, says FM Arun Jaitley

 

217)                       Big policies on gold...more interest income for those holding the metal...gold bonds and a

217)

218)                       new gold coin with Ashoka emblem...the new gold coin could be this budget's most popular

218)

219)                       announcement

 

220)                       Proposes 5 ultra mega power projects for 4,000 MW each Jaitley

 

221)                       The gold coin is aimed at recycling old gold and preventing gold imports...sounds like a

221)

222)                       smart idea..worth examining in detail, especially asking how the market for this Ashoka gold

222)

223)                       coin will develop

 

224)                       Capital gain regime to be rationalised

 

225)                       Listening to the budget speech can be a schizophrenic experience...from heritage sites FM

225)

226)                       goes to electric cars...promising money for both...so, there's going to be India's own

226)

227)                       bankruptcy law, as ET had said there might be after we analysed the Economic Survey...this

227)

228)                       will be a huge boon for business...if our bankruptcy law is clear as that of America's

 

229)                       FM says what other FMs should have said a long back...cut in business tax exemptions and

229)

230)                       reducing use of cash in big transactions...the fine print on these will make for fascinating

230)

231)                       reading and keep India Inc big boys stay up at night

 

232)                       FM announces plan for "ultra mega" power projects. The move will benefit companies like

232)

233)                       NTPC, Tata Power, Adani Power, JSW Energy, CESC

 

234)                       Offshore fund managers to get ease on fund managment, law to be tweaked

 

235)                       Offshore fund managers to get ease on fund managment, law to be tweaked

 

236)                       Nice idea...but how do we get there...Chidambaram's banking trasnaction tax had to be

236)

237)                       withdrawn, Jaitley should remember thatMarkets are getting more and more unimpressed...gains

237)

238)                       have come down...but let's see tax proposals