highlights of budget 2016

8/19/2019 HighLights of Budget 2016

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HighLights of Budget 2016

Arming that the economy is right on track, Finance Minister Arun Jaitey !resented

the "nion Budget for 2016#1$% &iting that the &'( in)ation has come do*n to +%-

from . !us, he said it is huge reief for the !u/ic%

a

o changes ha3e /een made to eisting income ta sa/s

(nfrastructure and agricuture cess to /e e3ied%

4cise duty raised from 10 to 1+ !er cent on to/acco !roducts other than /eedis

1 !er cent ser3ice charge on !urchase of uury cars o3er 5s% 10 akh and in#cash

!urchase of goods and ser3ices o3er 5s% 2 akh%

"7s, Luury cars to /e more e!ensi3e% - high ca!acity ta for "7s%

&om!anies *ith re3enue ess than 5s + crore to /e taed at 2.- !us surcharge

Limited ta com!iance *indo* from Jun 1 # e! 80 for decaring undiscosed

income at +- inc% surcharge and !enaties

4cise 1 !er cent im!osed on artices of 9e*eery, ecuding si3er%

0%+ !er cent :rishi :ayan &ess to /e e3ied on a ser3ices%

'ersona Finance

5s 1,000 crore aocated for ne* 4'F ;4m!oyees< 'ro3ident Fund= scheme



>o3t% *i !ay 4'F contri/ution of ?%88- for a ne* em!oyees for @rst three years

eduction for rent !aid *i /e raised from 5s 20,000 to 5s 60,000 to /ene@t those

i3ing in rented houses%

Additiona eem!tion of 5s% +0,000 for housing oans u! to 5s% 8+ akh, !ro3ided

cost of house is not a/o3e 5s% +0 akh%

er3ice ta eem!ted for housing construction of houses ess than 60 s% m

ocia

5s8?,+00 crore for Mahtma >andhi M>54>A for 2016#1$

*acch Bharat A/hiyan aocated 5s%.,+00 crores%

Hu/ to su!!ort &C entr!reneurs

>o3ernment is aunching a ne* initiati3e to !ro3ide cooking gas to B'L famiies *ith

state su!!ort%

L'> connections to /e !ro3ided under the name of *omen mem/ers of famiyD 5s

2000 crore aocated for + years for B'L famiies%

2%?$ akh crore grants to gram !anchayats and munici!aities # a uantum 9um! of

22?-%

800 ur/an custers to /e set u! under hyama 'rasad Mukher9i 5ur/an Mission

Four schemes for anima *efare%



Heath

2%2 akh rena !atients added e3ery year in (ndia% Basic diaysis eui!ment gets

some reief%

A ne* heath !rotection scheme for heath co3er u!to 1 akh !er famiy%

ationa iaysis er3ice 'rog *ith funds thru ''' mode to !ro3ide diaysis at a

district hos!itas%

enior citiEens *i get additiona heathcare co3er of 5s 80,000 under the ne*scheme

'M Jan Aushadhi o9ana to /e strengthened, 800 generic drug store to /e o!ened

4ducation

cheme to get 5s%+00 cr for !romoting entre!reneurshi! among &C

10 !u/ic and 10 !ri3ate educationa institutions to /e made *ord#cass%

igita re!ository for a schoo ea3ing certi@cates and di!omas% 5s% 1,000 crore for

higher education @nancing%

5s% 1,$00 crore for 1+00 muti#ski de3eo!ment centres%

62 ne* na3odaya 3idyaayas to !ro3ide uaity education

igita iteracy scheme to /e aunched to co3er 6 crore additiona rura househods



4ntre!reneurshi! training to /e !ro3ided across schoos, coeges and massi3e

onine courses%

G/9ecti3e to ski 1 crore youth in the net 8 years under the 'M :ausha 7ikas

o9na#FM Jaitey

ationa ki e3eo!ment Mission has im!arted training to $6 akh youth% 1+00

Muti#ski training institutes to /e set u!%

4nergy

5s% 8000 crore earmarked for nucear !o*er generation

>o3t dra*ing com!rehensi3e !an to /e im!emented in net 1+#20 years for

e!oiting nucear energy

>o3t to !ro3ide incenti3e for dee!*ater gas e!oration

ee!*ater gas ne* disc to get cai/rated market freedom, !re#determined ceiing

!rice /ased on anded !rice of aternate fues%

(n3estments and infrastructure

5s% 2$,000 crore to /e s!ent on road*ays

6+ eigi/e ha/itats to /e connected 3ia 2%28 akh kms of road% &urrent construction

!ace is 100 kmsCday

ho!s to /e gi3en o!tion to remain o!en a se3en days in a *eek across markets%

5s% ++,000 crore for roads and high*ays% ota aocation for road construction,

incuding 'M>, # 5s .$,000 crore



(ndia<s highest#e3er !roduction of motor 3ehices *as recorded in 201+

ota outay for infrastructure in Budget 2016 no* stands at 5s% 2,21,26 crore

e* green@ed !orts to /e de3eo!ed on east and *est coasts

5e3i3a of underser3ed air!orts% &entre to 'artner *ith tates to re3i3e sma

air!orts for regiona connecti3ity

100 !er cent F( in marketing of food !roducts !roduced and marketed in (ndia

e!t% of isin3estment to /e renamed as e!t% of (n3estment and 'u/ic Asset

Management

>o3t *i amend Motor 7ehice Act in !assenger 3ehice segment to ao*

inno3ation%

MA *i /e a!!ica/e for startu!s that uaify for 100 !er cent ta eem!tion

irect ta !ro!osas resut in re3enue oss of 5s%1060 crore, indirect ta !ro!osas

resut in gain of 5s%20,6$0 crore

Agricuture

ota aocation for agricuture and farmer *efare at 5s 8+.? crores

2?%+ akh heactares of and *i /e /rought under irrigation%

+ akh acres to /e /rought under organic farming o3er a three year !eriod



5s 60,000 crore for recharging of ground *ater recharging as there is urgent need

to focus on drought hit areas custer de3eo!ment for *ater conser3ation%

edicated irrigation fund in ABA5 of 5s%20%000 cr

omina !remium and highest e3er com!ensation in case of cro! oss under the 'M

Fasa Bima o9na%

Banking

Banks get a /ig /oostD 5s 2+,000 crore to*ards reca!itaisation of !u/ic sector

/anks% Jaitey saysD Banking Board Bureau *i /e o!erationaised, *e stand soidy

/ehind !u/ic sector /anks%

arget of dis/ursement under M"5A increased to 1,?0,000 crore

'rocess of transfer of go3ernment stake in (B( Bank /eo* +0- started

>enera (nsurance com!anies *i /e isted in the stock echange

>o3t to increase AMs, micro#AMs in !ost oces in net three years

highlights of budget 2016

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