The Budget has presented a broad road map of the economic policy of the new A detailed analysis of the Union Budget follows, with. Union Budget. 10th July, Budget Holistic Plan of Action. In comparison to the less than ordinary and unimaginative. The Union Budget aims to cater all groups of the society with a .. taxes side are estimated to yield Rs crore during
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Budget Highlights (Key Features) PDF File Opens in a new window · Budget Speech Union Budget of India. The Budget documents presented to Parliament comprise, besides the Finance Minister's Budget Speech, of the following. Key Features of Budget THE CURRENT . adequate funds in 15 either equal to or higher than in the BE These. Union Budget India presented by Mr P Chidambaram, the Union Finance Minister, in Parliament on Feb 17, Highlights of Indian.
High level committee to interact with trade and industry on regular basis to ascertain areas requiring clarity in tax laws is required to be set up. Challenging situation due to Sub five per cent growth and double digit inflation. Complete pass through for the purpose of taxation. The benefit to be available for three years i. Employment exchanges to be transformed into career centres. First budget of this NDA government to lay down a broad policy indicator of thedirection in which we wish to take this country.
High level committee to interact with trade and industry on regular basis to ascertain areas requiring clarity in tax laws is required to be set up. Employment exchanges to be transformed into career centres. Capital of banks to be raised by increasing the shareholding of the people in a phased manner.
Agriculture A sustainable growth of 4 per cent in Agriculture will be achieved. A national level research and referral Institute for higher dental studies to be set up. Housing Sector Extended additional tax incentive on home loans shall be provided to encourage people, especially the young, to own houses.
Proposed to establish an Export promotion Mission to bring all stakeholders under one umbrella.
Skill Development Skill India to be launched to skill the youth with an emphasis on employability and entrepreneur skills. Net to centre of Rs , crore estimated. Fiscal deficit of 4.
New Statement to separately show plan allocation made for North Eastern Region. The benefit to be available for three years i. To give an impetus to the stainless steel industry, increase in basic customs duty on imported flat-rolled products of stainless steel from 5 per cent to 7.
Reduction in basic customs duty from 10 per cent to 5 per cent on forged steel rings used in the manufacture of bearings of wind operated electricity generators.
The Finance Minister said that the Government intends to usher in a policy regime that would bring the desired growth, lower inflation, sustained level of external sectorbalance and prudent policy stance.
Speaking on the current economic situation and the challenges, Shri Jaitley said: Country is in no mood to suffer unemployment, inadequate basic amenities, lack of infrastructure and apathetic governance. Challenging situation due to Sub five per cent growth and double digit inflation.
Continued slow-down in many emerging economies a threat to sustained global recovery.
Recovery seen with the growth rate of world economy projected at 3. First budget of this NDA government to lay down a broad policy indicator of thedirection in which we wish to take this country. Steps announced are only the beginning of the journey towards a sustained growth of per cent or above within the next years along with macro-economic stabilization. Growing aspirations of people will be reflected in the development strategy of the Government led by the Prime Minister Shri Narendra Modi and its mandate of ' Sab ka Saath Sab ka Vikas '.
Measures to revive the economy, promote investment in manufacturing, rationalize tax provisions to reduce litigation, address the problem of inverted duty structure in certain areas. Tax reliefs to individual tax payers. Skip to main content. Home Union Budget The Current Economic Situation and the Challenges.
Budget Presentation - External website that opens in a new window The Economic Survey - External website that opens in a new window Railway Budget - External website that opens in a new window. Budget Estimates Non-plan Expenditure of Rs. Plan increase targeted towards Agriculture, capacity creation in Health and Education, Rural Roads and National Highways Infrastructure, Railways network expansion, clean energy initiatives, development of water resources and river conservation plans.
Total expenditure of Rs. Gross Tax receipts of Rs. Net to centre of Rs. Fiscal deficit of 4. New Statement to separately show plan allocation made for North Eastern Region.
Allocation of Rs. The composite cap of foreign investment to be raised to 49 per cent with full Indian management and control through the FIPB route. The composite cap in the insurance sector to be increased up to 49 per cent from 26 per cent with full Indian management and control through the FIPB route.
Requirement of the built up area and capital conditions for FDI to be reduced from 50, square metres to 20, square metres and from USD 10 million to USD 5 million respectively for development of smart cities. The manufacturing units to be allowed to sell its products through retail including E-commerce platforms. Bank Capitalization Requirement to infuse Rs. Capital of banks to be raised by increasing the shareholding of the people in a phased manner. Smart Cities A sum of Rs. Complete pass through for the purpose of taxation.
These two instruments to attract long term finance from foreign and domestic sources including the NRIs. Irrigation Rs.
Rural Development Shyama Prasad Mukherji Rurban Mission for integrated project based infrastructure in the rural areas. More productive, asset creating and with linkages to agriculture and allied activities wage employment would to be provided under MGNREGA.
Initial sum of Rs. Allocation for National Housing Bank increased to Rs. New programme " Neeranchal " to give impetus to watershed development in the country with an initial outlay of Rs. A committee will to examine and recommend how unclaimed amounts with PPF, Post Office, saving schemes etc. Government notified a minimum pension of Rs.
Initial provision of crore. Increase in mandatory wage ceiling of subscription to Rs. A provision of Rs. Government to print currency notes with Braille like signs for visibly challenged person. Sum of Rs. A sum of Rs. School curriculum to have a separate chapter on gender mainstreaming.
A national level research and referral Institute for higher dental studies to be set up.