BUDGET 2015
Here are sector-wise highlights
Taxation
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 | Total exemption of up to Rs. 4,44,200 can be achieved. |
5 | 100% exemption for contribution to Swachch Bharat, apart from CSR. |
6 | Service tax increased to14 per cent. |
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 | Atal Innovation Mission to be established to draw on expertise of entrepreneurs, and researchers to foster scientific innovations; allocation of Rs. 150 crore. |
5 | 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. |
Welfare schemes
1 | GST and JAM trinity (Jan Dhan Yojana, Aadhaar and Mobile) to improve quality of life and to pass benefits to common man. |
2 | Six crore toilets across the country under the Swachh Bharat Abhiyan. |
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. |
Agriculture
Rs. 25,000 c Rural Infrastructure Development Bank |
Rs. 5,300 cr Micro Irrigation Programme |
Rs. 8.5 lakh cr Targeted for farmer credit |
Defence
Rs. 2,46,726 cr allocated for defence (an increase of 9.87 per cent over last year) |
Focus on Make in India for quick manufacturing of Defence equipment. |
Renewable energy
Rs. 75 cr electric cars production |
2022: 100K MW Solar power |
60K MW Wind power |
10K MW Bio Mass |
5K MW Small Hydro |
Tourism
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. |
Visa on Arrival for 150 countries |
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