interesting facts about india's budget - lexsite.com

ANALYSIS OF

UNION BUDGET 2016-17

UNION BUDGET---------------------------

2016-17

Particulars Slide

State of the Economy 3-7

Key Policy Announcements 8-12

Budget Financials 13-14

Direct Tax Proposals 15-54

Indirect Tax Proposals 55-67

Contents

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UNION BUDGET---------------------------

2016-17State of the Economy

Summary

bull The Economic Survey for 2015- 16 released on Friday highlighted the global headwinds facedby the economy and called for a ldquo recalibration of expectationsrdquo about annual Indiangrowth mdash which it said would likely remain between 7 to 75 in the medium term

bull Several disappointments including failure to pass a goods and services taxunderperformance on disinvestments and privatization incomplete rationalization ofsubsidies and the stressed balance sheets of banks and private companies

bull Particularly pointed recommendations about the direction of Indiarsquos trade policy sayingldquointrospection is overduerdquo on issues including its continued support to farmers that arecontroversial at the World Trade Organization The Survey concludes India should ldquo resistcalls to seek recourse in protectionist measures especially in relation to items that couldundermine the competitiveness of downstream firmsrdquo

bull While making arguments both for and against the current path of fiscal consolidation theSurvey seemed to argue overall for a less stringent fiscal consolidation path

bull Survey predicted that even a gradual recovery of nominal growth ndash which thanks todeflationary pressure has been lower than expected driving the debt to GDP ratio upward ndashwould be sufficient in any case to deal with the debt problem it had cited as the main reasonfor sticking to the current fiscal consolidation path

UNION BUDGET---------------------------


Summaryhellip

bull Slack in the private sector labour market and capacity underutilization in industry mean thathigher public sector wages would not be transmitted across the rest of the economy

bull The Survey also predicted that inflation in 2016- 17 would be well below the Reserve Bank ofIndiarsquos five percent target

bull The Survey said that the RBIrsquos cuts in policy interest rates were not being passed on to thebroader economy not because administered ldquo small savings ratesrdquo were high but becausethe central bank had kept liquidity conditions tight as signalled by spreads in the moneymarket

bull The Survey also carries out a Piketty- like analysis of the ldquo top one percentrdquo and finds that ldquothe fast- growing years of the 2000rsquos were in fact associated with rising inequality at the verytop of the income distributionrdquo a change ldquo greater than in the UK and similar to that in theUSrdquo

bull The Survey also examines the problem of ldquo exitrdquo ndash saying that stressed corporate and bankbalance sheets were partly because it was difficult for capital to exit enterprises orinvestments that had turned unprofitable

UNION BUDGET---------------------------

2016-17State of the EconomyEconomic Performance

Data Categories FinancialYear 2014-15

FinancialYear 2015-16

GDP INDICATORSGDP (constant price) (INR Lakhs Crores)Growth Rate (in )GVA at Basic prices (2011-12 Prices) (INR Lakhs Crores)Growth Rate (in )

106577409858750

1135176010438730

EXTERNAL SECTORBalance of Payment DevelopmentForeign Exchange Reserve (US$ billion)Exchange Rate (USDINR) (April to January)Trade Deficit as of GDP (first half of FY)

341606094750

35030

6504720

Source MINISTRY OF STATISTICS amp PROGRAMME IMPLEMENTATION ECONOMIC SURVEY 2016Ended September 2015

UNION BUDGET---------------------------

2016-17State of the EconomyEconomic Performancehellip



FISCAL INDICATORS (as of GDP)Fiscal Deficit (in )Revenue Deficit (in )

410290

390280

INDUSTRIAL PERFORMANCEIndex of Industrial Production (in ) (Apr- Dec)Total FDI Inflow (US$ billion) (Apr- Nov)FDI Equity Inflow (US$ billion) (Apr- Nov)

26034802480

31027701890

PRICESCPI (WPI) (in )CPI (IW) (in )

200630

-300560

Source DEPARTMENT OF ECONOMIC AFFAIRS MINSITRY OF FINANCEFor the Period April to December 2015

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2016-17State of the EconomySector Wise Performance



(AE)

AGRICULTURE FORESTRY amp FISHING -020 110

INDUSTRYMining amp quarryingManufacturingElectricity gas water supplyamp other utility services Construction

1080550800440

690950590370

SERVICESTrade hotels transport communication and services related to broadcastingFinancial real estate amp professional servicesPublic administration Defence and Other Services

98010601070

9501030690

Growth of GVA at Basic Prices by Economic Activity (at 2011-12 Prices) (in per cent)AE= Advance EstimateSource Monthly Report January 2016 MINISTRY OF STATISTICS amp PROGRAMME IMPLEMENTATION (CENTRAL STATISTICS OFFICE)

UNION BUDGET---------------------------

2016-17Key Policy AnnouncementsKey Feature of Budget 2016-17

INTRODUCTION

bull Growth of Economy accelerated to 76 in 2015-16bull India hailed as a lsquobright spotrsquo amidst a slowing global economy by IMFbull Robust growth achieved despite very unfavorable global conditions and two consecutive years shortfall

in monsoon by 13bull Foreign exchange reserves touched highest ever level of about 350 billion US dollarsbull Despite increased devolution to States by 55 as a result of the 14th Finance Commission award plan

expenditure increased at RE stage in 2015-16 ndash in contrast to earlier years

bull Risks of further global slowdown and turbulencebull Additional fiscal burden due to VII Central Pay Commission recommendations and OROPbull Undertake important banking sector reforms and public listing of general insurance companies undertake

significant changes in FDI policybull Implementation of the Goods and Service Tax bill and Insolvency and Bankruptcy lawbull Undertake important reforms by giving a statutory backing to AADHAR platform to ensure benefits

reach the deserving (JAM- Jan Dhan Yojana Aadhar Mobile)

CHALLENGES IN 2016-17

UNION BUDGET---------------------------

2016-17Key Policy AnnouncementsKey Feature of Budget 2016-17hellip

AGRICULTURE AND FARMERSrsquo WELFARE

bull Allocation for Agriculture and Farmersrsquo welfare is Rs 35984 crorebull Allocation under Prime Minister Fasal Bima Yojana Rs 5500 Crorebull Rs 850 Crore for 4 diarying projectsbull lsquoPradhan Mantri Krishi Sinchai Yojanarsquo to be implemented in mission mode 285 lakh hectares will be

brought under irrigationbull Implementation of 89 irrigation projects under AIBP which are languishing for a long time will be fast

trackedbull A dedicated Long Term Irrigation Fund will be created in NABARD with an initial corpus of about 1048643

20000 crorebull To reduce the burden of loan repayment on farmers a provision of Rs 15000 crore has been made in

the BE 2016-17 towards interest subvention

bull Allocation for rural sector Rs 87765 crorebull Rs 287 lakh crore will be given as Grant in Aid to Gram Panchayats and Municipalities as per the

recommendations of the 14th Finance Commissionbull Allocation of Rs 38500 Crore for MGNREGSbull 100 Village electrification by March 2018

RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip

bull 300 Rurban Clusters will be developed under the Shyama Prasad Mukherjee Rurban Missionbull New Scheme Rashtriya Gram Swaraj Abhiyan Proposed with allocation of Rs 655 Crore

bull Allocation for social sector including education and health care Rs 151581 crorebull Rs 2000 crore allocated for initial cost of providing LPG connections to BPL familiesbull New health protection scheme will provide health cover up to Rs 1 per family For senior citizens an

additional top-up package up to 1048643 30000 will be providedbull 3000 Stores under Prime Ministerrsquos Jan Aushadhi Yojana will be opened during 2016-17bull lsquoNational Dialysis Services Programmersquo to be started under National Health Mission through PPP modebull ldquoStand Up India Schemerdquo to facilitate at least two projects per bank branch This will benefit at least 25

lakh entrepreneursbull National Scheduled Caste and Scheduled Tribe Hub to be set up in partnership with industry associations

SOCIAL SECTOR INCLUDING HEALTH CARE

UNION BUDGET---------------------------


EDUCATION SKILLS AND JOB CREATION

bull 62 new Navodaya Vidyalayas will be openedbull Sarva Shiksha Abhiyan to increasing focus on quality of educationbull Regulatory architecture to be provided to ten public and ten private institutions to emerge as world-

class Teaching and Research Institutionsbull Higher Education Financing Agency to be set-up with initial capital base of Rs 1000 Croresbull Digital Depository for School Leaving Certificates College Degrees Academic Awards and Mark sheets

to be set-up

bull Total investment in the road sector including PMGSY allocation would be Rs 97000 crore during 2016-17

bull Indiarsquos highest ever kilometres of new highways were awarded in 2015 To approve nearly 10000 kms ofNational Highways in 2016-17

bull Allocation of Rs 55000 crore in the Budget for Roads Additional Rs 15000 crore to be raised by NHAIthrough bonds

bull Total outlay for infrastructure Rs 221246 crorebull 100 FDI to be allowed through FIPB route in marketing food products produced and manufactured in

Indiabull Reform in FDI Policy in the area of Insurance and Pension ARC Stock Exchanges

INFRASTRUCTURE AND INVESTMENT

UNION BUDGET---------------------------


FINANCIAL SECTOR REFORMS

bull Fiscal deficit in RE 2015-16 and BE 2016-17 retained at 39 and 35bull Revenue Deficit target from 28 to 25 in RE 2015-16bull Total expenditure projected at Rs 1978 lakh crorebull Plan expenditure pegged at Rs 550 lakh crore under Plan increase of 153bull Non-Plan expenditure kept at Rs 1428 lakh croresbull Special emphasis to sectors such as agriculture irrigation social sector including health women and

child development welfare of Scheduled Castes and Scheduled Tribes minorities infrastructurebull Committee to review the implementation of the FRBM Act

FISCAL DISCIPLINE

bull A comprehensive Code on Resolution of Financial Firms to be introducedbull Statutory basis for a Monetary Policy framework and a Monetary Policy Committee through the Finance

Bill 2016bull A Financial Data Management Centre to be set upbull RBI to facilitate retail participation in Government securitiesbull New derivative products will be developed by SEBI in the Commodity Derivatives marketbull Amendment to SARFAESI Act 2002 to enable the sponsor of an ARC to hold up to 100 stake in the ARC

and permit non institutional investors to invest in SRs

UNION BUDGET---------------------------

2016-17Budget FinancialsBudget at a Glance

Sl No

Particulars FY 14-15Actuals

FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates

1 Revenue Receipts 1101472 1141575 1206084 1377022

2 Capital Receipts 562201 635902 579307 601038

3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060

4 Non Plan Expenditure 1201029 1312200 1308194 1428050

5 Plan Expenditure 462644 465277 477197 550010

6 Total Expenditure (4 + 5) 1663673 1777477 1785391 1978060

7 Revenue Expenditure 1466992 1536047 1547673 1731037

8 Capital Expenditure 196681 241430 237718 247023

9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore

Source Union Budget Budget at a glance

UNION BUDGET---------------------------

2016-17Budget Financials

24

20

149

10

9

311

RUPEES IN

Borrowings amp Liablities Corporation tax Income Tax

Customs Union excise duties Service tax amp others taxes

Non-debt capital receipts Non-tax revenue

20

11

10

118

5

23

12

RUPEES OUT

Interest Payments Defence Subsidies

Central Plan Plan assistance to states amp Uts Non-plan assistance to states amp Uts

States shares of taxes amp duties Other non-plan expenditure

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsPersonal Taxation

Slno Clause amp Section Reference

Proposal Impact

1 Clause (7) - Section 10(12A)

Withdrawal up to 40 of the corpus at thetime of retirement is tax exempt in the case ofNational Pension Scheme

Will enable tax savings This is also to bringparity between various pension planswhich are under EEE Status (ExemptExempt Exempt)

2 Clause (7) - Section 10(12(i) amp 13)

Superannuation funds and recognisedprovident funds including EPF 40 of corpuswill be tax free in respect of corpus createdout of contributions made after 142016


3 Clause (9) - Section 17(2)(vii)

Limit for contribution of employer in approvedSuperannuation Fund is capped at Rs150000per annum beyond which the same shall betaxable as Perquisite

Up to Rs150000 any amount contributedby employer towards SA Fund shall not betaxable as Perquisite

4 Clause (10) - Section 24(b)

Deduction of interest payable on capitalborrowed for acquisition or construction of aself-occupied house property shall be allowedif such acquisition or construction iscompleted within 5 years as against the earlierlimit of 3 years

Assessee has now has 5 years time limit toacquire or construct the house propertyfrom the year of capital borrowal to claimthe Interest payment deduction ofRs200000 This is wef 01-04-2017 Thishas been introduced with the fact in mindthat housing projects are often takinglonger time for completion

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsPersonal Taxationhellip


Proposal Impact

5 Clause (11) - Section 25A(1) amp (2)

Arrears of Rent or Unrealised Rent realisedsubsequently shall be treated as income fromHouse Property in the year of receipt and astandard deduction of 30 shall be allowed asdeduction

Erstwhile sections 25A 25AA amp 25B hasbeen consolidated and this is wef 01-04-2017 This is with a view to simplify theseprovisions on unrealized rent

6 Clause (viib) -Section 47

No tax on Capital gain arising on redemptionof Sovereign Gold Bond issued by the RBIunder the Sovereign Gold Bond Scheme 2015

Sovereign Gold Bond Scheme made moreattractive by exempting the capital gainstax on its redemption

7 Clause 2 Surcharge raised from 12 to 15 on personsother than companies firms amp co-op societieshaving income above Rs 1 crore

Tax liabilities of individual raised by on andaround 3

8 Section 54GB LTCG arising from transfer of residentialproperty of individual and HUF shall not becharged to tax if such capital gain investmentin share of an eligible start-up Such exemptionis available ifbull Individual or HUF hold more than 50 shareof such start upbull such investment is utilised by the start up topurchase the new assets before due date offilling of return of investor

This will encourage start-up business andwidened the scope of investment forinvestor

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Proposal Impact

9 Clause (30) -Proviso to Section 50C(1)

The date of agreement fixing the amount ofconsideration for the transfer of immovableproperty and not the date of registration shallbe taken for the purposes of computingcapital gains in case of transfer of immovableproperty if any payment in consequence ofsuch agreement has been made by thepurchaser of the property through any modeother than cash

This proposal gives relief to assesse wherethere is considerable time gap betweenthe date of agreement and the date ofregistration where as on the latter datethere is increase in assessable value

10 Clause (37) - Section 80EE (substituted)

To incentivize first-home buyers availing homeloans by providing additional deduction inrespect of interest on loan taken forresidential house property from any financialinstitution up to Rs 50000 This incentive isproposed to be extended to a house propertyof a value less than Rs50 Lakhs in respect ofwhich a loan of an amount not exceedingRs35 Lakhs has been sanctioned during theperiod from the 1-04-2016 to the 31-03-2017 Itis also proposed to extend the benefit ofdeduction till the repayment of loan continues

The existing provisions of section 80EEprovide a deduction of up to 1 lakh rupeesin respect of interest paid on loan by anindividual for acquisition of a residentialhouse property This benefit is availablefor the two assessment years beginning on01-04-2014 and on 01-04-2015 An amountof Rs50000 as additional deduction isprovided for the period 01-04-2016 to 31-03-2017 This deduction is over and abovethe limit of Rs200000 provided on self-occupied house property

UNION BUDGET---------------------------



Proposal Impact

11 Clause (38) -Section 80GG

Increase in Deduction in respect of Rent paidfrom Rs2000 pm to Rs5000 pm wef 1-4-2017

This is expected to provide relieve to taxpayers who are paying towards rent andwho is not granted HRA by his employer

12 Clause (45)- Section87A

Relief increase from Rs 2000 to Rs 5000 inorder to provide relief small taxpayer

This is proposed with an objective toprovide relief to resident individuals whoare in the lower income slab

13 Clause (50) -Section 115BBDDA (New)

Individual HUF or firm who is resident in Indiahaving dividend income of more than Rs 10Lakhs shall be liable to pay additional tax 10

Under section 115-O dividends are taxedonly at the rate of 15 at the time ofdistribution in the hands of companydeclaring dividends This creates verticalinequity amongst the tax payers as thosewho have high dividend income aresubjected to tax only at the rate of 15whereas such income in their hands wouldhave been chargeable to tax at the rate of30This amendment is brought with a view torationalize the tax treatment provided toincome by way of dividend

UNION BUDGET---------------------------



Proposal Impact

14 Clause (29)-provision to Section48

Second proviso shall not apply to LTCG arisingfrom the transfer of a long-term capital assetbeing a bond or debenture other thanmdashbull Capital indexed bonds issued by the

Government orbull Sovereign Gold Bond issued by the RBI

under the Sovereign Gold Bond Scheme2015

in case of an assessee being a non-residentany gains arising on account of appreciation ofrupee against a foreign currency at the time ofredemption of rupee denominated bond of anIndian company subscribed by him shall beignored for the purposes of computation offull value of consideration under this section

Sovereign Bond excluded from the scopeof Indexation

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsCorporate Taxation


Proposal Impact

15 Clause (4) - Section 6(3)

Determination of residency of foreigncompany on the basis of Place of EffectiveManagement (POEM) is proposed to bedeferred by one year

Foreign companies continue to enjoy thetax benefits due to non-applicability ofPOEM till 31-03-2017 This deferment hasbeen made with the list of proceduraldifficulties in mind which needs to beclarified

16 Clause (7) of Section 10(23FC)

Distribution made out of income of SPV to theInvestment Trusts like REITs and INVITs havingspecified shareholding will not be subjected toDividend Distribution Tax (DDT) in respect ofdividend distributed after the specified date

This is wef 01-06-2016 Dividend shouldhave been distributed out of current yearrsquosincome and not out of accumulatedprofits This is to encourage the RealEstate sector

17 Clause (7) - Section10(38)

Waiver of Securities Transaction Tax forincome arising out of Long Term Capital Gainsbeing equity shares in a company unit ofequity oriented fund or a unit of businesstrust if the transaction undertaken on aRecognised Stock Exchange located in anyInternational Financial Service Centre (as perSec 2(q) of SEZ Act 2005)

Lesser tax This is to incentivize the growthof International Financial Service Centres

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsCorporate Taxationhellip


Proposal Impact


In addition to exemption of income receivedby a Foreign Company received in India in INRon account of Sale of Crude Oil any othergoods services as may be notified by CentralGovt any income accruing or arising to suchcompany on the sale of above shall also beexempt

Increased tax savings for foreigncompanies


Any income arising from specified service onor after 01-06-2016 on which the provisions ofChapter VIII of the Finance Act 2016 come intoforce and Equalisation Levy under thatchapter

This is to avoid double taxation SpecifiedService defined as Online Advertisementany provision for digital advertising spaceor any other facility or service for thepurpose of online advertisement andincludes any other service as may benotified by the Central Government

20 Clause (8) - Section 10AA(1)

Phasing out of exemption provided to SEZ ndashThis exemption shall be available to thoseunits which commence activity before 31-03-2020

Withdrawal of exemption if activity notcommenced before the specified date Thisamendment shall be effective from 01-04-2017

21 Clause (13) - Section 32(1)(iia)

Plant amp Machinery acquired and installed fortransmission activity would also be eligible foradditional depreciation wef 01-04-2017

This is to rationalize the incentive of powersector Hence assesse engaged in businessof transmission of power also is eligible foradditional depreciation

UNION BUDGET---------------------------



Proposal Impact

22 Clause (14) - Section 32AC(1A)

Acquisition of the Plant amp Machinery of thespecified value has to be made in the previousyear However installation may be made by31032017 in order to avail the benefit ofadditional depreciation of 15 Also if theinstallation is complete in a year other than theyear of acquisition this additional deduction isallowed in the year of such installation

This is to remove the hardship of the dualcondition of acquisition and installationwhere assesses could not install the PampMin the year of purchase

23 Clause (15) -Sections 35(1)(ii) 35(1)(iia) 35(a)(iii) 35(2AA) 35(2AB)

Weighted deduction allowed at 175 forpayments made to research associations hasbeen reduced to 150 from FY 2017-18 andfrom FY 2020-21 it shall be reduced to 100Weighted deduction allowed at 125 forpayments made to companies in scientificresearch or associations involved in socialscience or statistical research is reduced to100 wef 01-04-2017 Amount spent onscientific research by a bio-technologycompany shall be reduced to 150 from 200from FY 2017-18 and to 100 wef 01-04-2017

No additional expenses which can beclaimed and reduction in corporate taxesas promised in earlier budget is beingdeferred till the time Govt can see therevenue benefits out of phasing out ofthese exemptions

UNION BUDGET---------------------------



Proposal Impact

24 Clause (16) - Section35ABA (New)

Expenditure in nature of Capital expenditurefor acquiring the right to use the spectrum isto be amortized over the period for which theright to use the spectrum has been grantedWef 01-04-2017

Spectrum license as been brought at parwith license to operate Telecommunicationservices with respect to amortization offees paid to obtain such right This is inorder to clear the uncertainties onwhether Spectrum is an Intangible assetand eligible for depreciation under sec 32or is it treated as licence to operatetelecommunication and amortisedaccordingly

25 Clause (17) - Section 35AC(7)

Deduction on eligible projects only up to AY2017-18

Non-eligible of these deductions wouldresult in higher taxation

26 Clause (18) - Section 35AD(1A)

Reduction in deduction from 150 to 100 inthe case of a cold chain facility warehousingfacility for storage of agricultural produce anaffordable housing project production offertilizer and building and operating hospitalswith effect from 01042017


27 Clause (19) - Section 35CCC

Restrict the deduction towards Agricultureextension projects to 100 from 150 fromfinancial year 2017-18


UNION BUDGET---------------------------



Proposal Impact

28 Clause (20) - Section35CCD

Weighted deduction of 150 towards exp onSkill Development Projects shall be availableUp to financial year 2019-20 (assessment year2020-21) However the deduction under thesaid section shall be restricted to 100 fromfinancial year 2020-21 (Assessment Year 2021-22)


29 Clause (21) - Section 36(1)(viia)(d)

Non-banking financial companies shall beeligible for deduction to the extent of 5 of itsincome in respect of provision for bad anddoubtful debts wef 01-04-2017

Reduced taxes NBFCs being one of thefinancial lending institutions are alsobrought at par with PFIs SFIs SIICs inclaiming deductions in respect of provisionfor bad and doubtful debts

30 Clause (22) - Section 40(a)(ib)

Any amount paid or payable to a Non-residenton which Equalisation Levy is deductible andthe same is not deductednot paid before duedate of return such expense shall bedisallowed Such expenditure allowed fordeduction on payment basis

This is similar to TDS deductible notdeducted and deducted but not paidbefore due date of filing of return which isdisallowed Results in higher taxes if non-complied

UNION BUDGET---------------------------



Proposal Impact

31 Clause (23) - Section 43B(g)

The scope of this section is widened so as toprovide that any sum payable to Railways foruse of railway assets shall be allowed asdeduction as business income only if the samehas been paid on or before the due date offiling of return for the relevant year

Similar to Contribution to PF SA FundRepayment of Interest on Loan borrowedpayment of tax duty cess or fee thepayments made to Railways also has beenbrought under the definition mandatingthe assesse to complete the paymentlatest by due date of filing return and shallno longer be part of payables beyond thisdate

32 Clause (26) - 44AD Exp(b)

The threshold limit of Presumptive taxation isincreased from Rs 1 Crore to Rs 2 Crores Alsoif the tax payer opts for the presumptivetaxation scheme he has to remain in thescheme for 5 years If does not opt so in any ofthe 5 years he shall not claim the benefit ofthis scheme for next 5 years

Assessees can offer 8 Income based onpresumptive taxation scheme if histurnover does not exceed Rs 2 Croreswhich is a great boon to the MSME sector

33 Clause (27) - Section44ADA (New)

The above mentioned presumptive taxationscheme shall apply to professionals with grossreceipts upto Rs 50 Lakhs with thepresumption of profit being 50 of the Grossreceipts wef 01-04-2017

The presumptive basis of income is fixed at50 which may be end up getting taxedhigher

UNION BUDGET---------------------------



Proposal Impact

34 Clause (28) - Section 47(xiiib)(ea) (New)

In addition to the criteria mentioned in thissection for the purpose of not being coveredwithin the definition of transfer in aconversion of Pvt Ltd Co or Public Unlisted Cointo a LLP an additional clause where lsquoThetotal value of assets as appearing in the booksof accounts of the Company shall not exceedRs 5 Crores in 3 preceding previous years

The criteria for maintaining the turnoverand asset value below a threshold makesthe LLP conversion of a Pvt Ltd Co or aPublic Unlisted Co more strenuous

35 Clause (31) - Section54EE (New)

Exemption to Capital Gains tax arising ontransfer of Long-term capital asset if within 6months invested in units of Long-termspecified asset being units issued before 01-04-2019 or such fund as may be notified by CentGovt All other provisions of Sec 54ED shallapply to this section

One more investment avenue which isbeing proposed by the Government for thepurpose of claiming exemption from Long-Term Capital gains tax

36 Clause (39 40 41) -Sections 80IA 80IAB amp 80IB

The 100 per cent profit linked deductions forspecified period on eligible business carried onby industrial undertakings or enterprises arebeing phased out and no deductions areavailable if the specified activity commenceson or after 01-04-2017


UNION BUDGET---------------------------



Proposal Impact

37 Clause (43) - Section 80-IBA (New)

100 Deduction allowed for profits amp gainsderived from business of developing andbuilding housing projects where the projectsare commenced after 01-06-2016 but before 31-03-2019 and the project shall be completedwithin 3 years

This is introduced with a view toincentivize affordable housing for all

38 Clause (44) -Section 80JJAA (Substituted)

The existing provisions of Section 80JJAAprovide for a deduction of thirty percent ofadditional wages paid to new regularworkmen in a factory for three years Theprovisions apply to the business ofmanufacture of goods in a factory whereworkmen are employed for not less thanthree hundred days in a previous year Furtherbenefits are allowed only if there is an increaseof at least ten percent in total number ofworkmen employedIt is proposed to provide that the deductionunder the said provisions shall be available inrespect of cost incurred on any employeewhose total emoluments are lt= Rs25000 permonth

bull This is proposed to extend theemployment generation incentive toall sectors

bull However no deduction on thecontribution paid towards EPS or EPF

bull Also the minimum number of days isalso relaxed to 240 days from 300 daysin a FY

bull Condition of increase in number ofemployees by 10 every year isproposed to be removed

bull In the 1st Year 30 of all emolumentspaid or payable to the employees shallbe allowed as deduction

UNION BUDGET---------------------------



Proposal Impact

39 Clause (48) -Section 112(1)(c)

The word ldquounlisted securitiesrdquo substituted bythe word ldquounlisted securities or shares of thecompany not being a company in which thepublic are substantially interestedrdquo

The expression securities for thepurpose of the said provision has the samemeaning as in section 2(h) of the SCRA1956 A view has been taken by the courtsthat shares of a private company are notsecuritiesldquo With a view to clarify theposition so far as taxability is concernedthis amendment is proposed

40 Clause (49) -Section 115BA (New)

The income-tax payable in respect of the totalincome of a domestic company registered onor after 01-03-2016 for any previous yearrelevant to the assessment year beginning onor after the 1st day of April 2017 shall becomputed 25 at the option of thecompany

- In order to provide relief to newly setupdomestic companies engaged solely inthe business of manufacture orproduction the corporate tax rate is fixedat 25

- Company not to claim benefit under10AA or additional accelerateddepreciation or exp on scientific researchor provisions of 80JJAA

UNION BUDGET---------------------------



Proposal Impact

41 Clause (52) - Section 115BBF (New)

Where the total income of the eligibleassessee includes any income by way ofroyalty in respect of a patent developed andregistered in India then such royalty shall betaxable at the rate of 10 on the gross amountof royalty No expenditure or allowance inrespect of such royalty income shall beallowed

To encourage indigenous research ampdevelopment activities and to make India aglobal RampD hub the Government hasdecided to put in place a concessionaltaxation regime for income from patentsThe aim of the concessional taxationregime is to provide an additional incentivefor companies to retain and commercialiseexisting patents and to develop newinnovative patented products

42 Clause (53) - Section115JB(7)

In case of a company being a unit located inInternational Financial Services Centre andderiving its income solely in convertibleforeign exchange the Minimum Alternate Taxshall be chargeable at the rate of 9

With a view to provide a competitive taxregime to International Financial ServicesCentre it is proposed to amend thissection to provide MAT at 9 for IFSC

UNION BUDGET---------------------------



Proposal Impact


With effect from 01042001 the provisions ofsection 115JB shall not be applicable to aforeign company if ndash(i) the assessee is a resident of a country or aspecified territory with which India has anagreement (or DTAA) referred to in section90(1) or the Central Government has adoptedany agreement under section 90A (1) and theassesse does not have a PE in India inaccordance with the provisions of suchAgreement or(ii) the assessee is a resident of a country withwhich India does not have an agreement ofthe nature referred to in clause (i) above andthe assessee is not required to seekregistration under any law for the time beingin force relating to companies

- Under existing provisions if the taxpayable on the total income ascomputed under the Income-tax Act isless than 185 of its book profit suchbook profit shall be deemed to be thetotal income of the assessee and thetax payable by the assessee for therelevant previous year shall be 185 ofits book profit Issues were raisedregarding the applicability of thisprovision to Foreign InstitutionalInvestors (FIIs) who do not have apermanent establishment (PE) in India

- The prospective amendment made inFinance Act 2015 did not resolve theissues prior to AY 2016-17

- Hence this amendment was maderetrospectively

44 Clause (55) - Section 115-O(7)

No DDT in respect of any amount declareddistributed or paid by the Specified DomesticCompany by way of dividends to a businesstrust out of current income or on or after thespecified date

Taxes burden on distribution of incomehas been reduced and having positiveimpact on overall accumulation of profit

UNION BUDGET---------------------------



Proposal Impact


No DDT shall be chargeable in respect of thetotal income of a company being a unit locatedin International Financial Services Centrederiving income solely in convertible foreignexchange for any assessment year on anyamount declared distributed or paid by suchcompany by way of dividends (whetherinterim or otherwise) on or after the 01-04-2017 out of its current income

With a view to incentivise the growth ofInternational Financial Services Centresinto a world class financial services hubwaiver from of DDT chargeability beingextended to IFSC

46 Clause (60) -Section 115TF (New)

For the purpose of recovery of tax andinterest the principal officer or the trusteeand the trust or the institution shall bedeemed to be assessee in default and allprovisions related to the recovery of taxesshall apply Further the recipient of assets ofthe trust which is not a charitableorganisation shall also be liable to be held asassessee in default in case of non-payment oftax and interest

The recipients liability shall be limited tothe extent of the assets received Thisamendment is wef 01-06-2016

UNION BUDGET---------------------------



Proposal Impact

47 Clause (56) -Section 115QA(1)(i) amp (ii)

It is proposed to amend that the provisions ofthis section shall apply to any buy back ofunlisted share undertaken by the company inaccordance with the provisions of the lawrelating to the Companies and not necessarilyrestricted to section 77A of the CompaniesAct 1956 It is further proposed to providethat for the purpose of computing distributedincome the amount received by the Companyin respect of the shares being bought backshall be determined in the prescribed mannerThe rules would thereafter be framed toprovide for manner of determination of theamount in various circumstances includingshares being issued under tax neutralreorganizations and in different tranches

Doubts have been raised regarding theeffect of buybacks undertaken by thecompany under different provisions of theCompanies Act 1956 or the CompaniesAct 2013 and applicability of provisions ofsection 115QA to such transactions Anissue has also been raised regarding lack ofclarity in determination of considerationreceived by the company at the time ofissue of shares being bought back by thecompany Hence this amendment isproposed wef 01-06-2016 to clear the airon this ambiguity

UNION BUDGET---------------------------



Proposal Impact

48 Clause (60) -Section 115TD (New)

A trust or institution registered under section12AA and ceases to be a charitableorganization the accreted income shall bechargeable to maximum marginal rateAccreted income for this purpose meansamount by which aggregate fair value of totalassets of the trust or institution exceeds thetotal liability in accordance with suchmethodology prescribed

There is a need to ensure that the benefitconferred over the years by way ofexemption is not misused and to plug thegap in law that allows the charitable trustshaving built up corpuswealth throughexemptions being converted into non-charitable organization with no taxconsequences Hence the introduction ofthis new section wef 01-06-2016

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsAssessment amp Procedures


Proposal Impact


It is proposed to amend section 124(3) tospecifically provide that cases where search isinitiated under section 132 or books ofaccounts other documents or any assets arerequisitioned under section 132A no personshall be entitled to call into question thejurisdiction of an Assessing Officer after theexpiry of one month from the date on whichhe was served with a notice under section153A(1) or section 153C(2) or after thecompletion of the assessment whichever isearlier

In the existing provisions no person shallbe entitled to call in question thejurisdiction of an Assessing Officer in acase where return is filed under section139 after the expiry of one month fromthe date on which he was served with anotice issued under section 142(1) orsection 143(2) or after the completion ofthe assessment whichever is earlierCurrently this provision does notspecifically refer to notices issued undersection 153A or section 153C which relateto assessment in cases where a search andseizure action has been taken or casesconnected to such cases In order toremove any ambiguity in such cases thisamendment is proposed wef 01-06-2016

50 Clause (65) -Section 139(9)

A return of income shall not be regarded asdefective where self-assessment tax togetherwith interest has not been paid on or beforethe date of furnishing of return

In the existing provisions if the self-assessment tax + interest is not paidbefore due date of filing of return thenthe return is considered defective Thiscondition has now been proposed to berelaxed

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsAssessment amp Procedureshellip


Proposal Impact


The sub-section is amended to read as anyperson who has not furnished a return withinthe time specified under section 139(1) mayfurnish the return for any previous year withinend of the relevant assessment year or beforecompletion of the assessment whichever isearlier

Time-limit for filing of belated return underthe existing provision was end of expiry ofone year from the end of relevant AY orcompletion of assessment wee This hasnow been proposed to restrict to end ofrelevant assessment year or completion ofassessment wee For eg Last date forfiling belated return for FY 2015-16 is 31-03-2017 or completion of assessment wee


This sub-section is amended to accommodatefiling of revised return to returns filed undersection 139(1) and also for belated returns filedunder section 139(4) before the expiry of 1year from the end of relevant assessment yearor completion of assessment whichever isearlier

In the existing provisions no revision ispossible to belated returns However thishas been proposed to amend to includebelated returns

53 Clause (66) -Proviso to Section 143(1D)

It is proposed to amend this sub-section toprovide that before making an assessmentunder 143(3) the return shall be processedunder section 143(1)

Under the existing provisions processingof a return is not necessary where a noticehas been issued to the assessee under143(2) However this amendment has beenproposed to be introduced wef 01-04-2017 (AY 2017-18 onwards)

UNION BUDGET---------------------------



Proposal Impact

54 Clause (66) -Section 143(2) (Substituted)

Assessing Officer shall serve a notice on theassessee requiring him to attend the office ofthe AO (on a date specified) or to producebefore the AO any evidence on which theassessee may rely in support of the returnThis notice cannot be served after the expiryof 6 months from the end of FY in which thereturn is furnished

This is wef 01-06-2016

55 Clause (68) -Section 153 (Substituted)

bull Period for completion of assessmentunder section 143 or section 144 bechanged from existing 2 Years to 21months from the end of the assessmentyear in which the income was firstassessable

bull Period for completion of assessmentunder section 147 be changed fromexisting 1 year to 9 months from the endof the financial year in which the noticeunder section 148 was served

These amendments are proposed with aview to existing longer time-limit tocomplete the assessment Theseamendments are proposed wef 01-06-2016

UNION BUDGET---------------------------



Proposal Impact

Clause (68) -Section 153 (Substituted)(contdhellip)

bull Period for completion of fresh assessmentin pursuance of an order under section 254or section 263 or section 264 setting asideor cancelling an assessment be changedfrom existing 1 year to 9 months from theend of the financial year in which the orderunder section 254 is received by thePrincipal Chief Commissioner or ChiefCommissioner or Principal Commissioneror Commissioner or the order undersection 263 or section 264 is passed by thePrincipal Commissioner or Commissioner


bull Where a reference under section 92CA)(1)is made during the course of theproceeding for the assessment orreassessment the period available forcompletion of assessment orreassessment as the case may be underthe said sub-sections (1) (2) and (3) aboveshall be extended by 12 months


UNION BUDGET---------------------------



Proposal Impact

57 Clause (69) -Section 153B (Substituted)

The limitation for completion of assessmentunder section 153A in respect of eachassessment year falling within six assessmentyears referred to in clause (b) of section153A(1) and in respect of the assessment yearrelevant to the previous year in which search isconducted under section 132 or requisition ismade under section 132A be changed fromexisting 2 years to 21 months from the end ofthe financial year in which the last of theauthorizations for search under section 132 orfor requisition under section 132A wasexecuted

This amendment with reference to timelimit for completion of search assessmenthas been reduced from the existing timelimit of 2 years This proposal shall be wef01-06-2016

UNION BUDGET---------------------------



Proposal Impact


The limitation for completion of assessment incase of other person referred to in section153C shall be changed from existing 2 years to21 months from the end of the financial year inwhich the last of the authorisation for searchunder Section 132 or requisition under section132A was executed or 9 months (changedfrom the existing 1 year) from the end of thefinancial year in which the books of account ordocuments or assets seized or requisition arehanded over under section 153C to theAssessing Officer having jurisdiction over suchother person whichever is later


UNION BUDGET---------------------------

2016-17Direct Tax ProposalsTax Deducted at Source


Proposal Impact

59 Clause 70 ndash Section 192A

Limit for non-deduction has been increased toRs 50000- from existing limit of Rs 30000-wef 01 June 2016

Relief for people withdrawing from EPF

60 Clause 71 - Section 194BB


61 Clause 72 - Section 194C

Limit of Rs75000- has been increased to Rs100000- wef 01 June 2016

Relief for small contractors whose totalreceipt from a single vendor does notexceed Rs 100000

62 Clause 73 - Section 194D

Limit for non-deduction has been decreased toRs 15000- from existing limit of Rs 20000-wef 01 June 2016

Insurance agents receiving commission ofmore than Rs 15000 are hit

63 Clause 74 - Section 194DA

Rate of tax deduction has been reduced from2 to 1 wef 01 June 2016

64 Clause 75 - Section 194EE


65 Clause 76 - Section 194G

Limit for non-deduction has been increased toRs 15000- from existing limit of Rs 1000-and also rate of tax deduction has beenreduced from 10 to 5 wef 01 June 2016

Relief for agents who sell lottery tickets

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsTax Deducted at Sourcehellip


Proposal Impact

66 Clause 77 - Section 194H


Relief for commission agents

67 Clause 78 ndash Sections 194K and 194L

Sections 194K and 194L have been omittedwef 01 June 2016

No TDS on income recd from mutual fundsspecified us10(23D) amp UTI andcompensation enhanced compensationreceived on compulsory acquisition

68 Clause 79 ndash Section194LA

Limit for non-deduction has been increased toRs 200000- from existing limit of Rs 250000-

69 Clause 80 ndash Section194LBA

In sub-section (1) for the words bracketsfigures and letters ldquoin clause (23FC)rdquo thewords brackets figures and letters ldquoin sub-clause (a) of clause (23FC)rdquo shall besubstituted

70 Clause 81 ndash Section194LBB

This section has been amended wrt rates oftaxes 10 if the payee is a resident and for anon-resident at applicable rates in force

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsGeneral


Proposal Impact

71 Clause 82 ndash Section194LBC

Insertion of new section 194LBC TDS onincome payable to an investor in respect of aninvestment in a securitization trust specified inclause (d) 0f the explanation occurring aftersection 115TCA Rates of taxes ndash In case ofresident individual and HUF ndash 25 in case ofother resident persons ndash 30 and in case of anon-resident ndash rates in forces

72 Clause 84 ndash Section197A

In section 197A of the Income-tax Act witheffect from the 1st day of June 2016mdash(a) in sub-section (1A) after the word figuresand letters ldquosection 194DArdquo at both the placeswhere they occur the words figures andletter ldquoor section 194-Irdquo shall be inserted(b) in sub-section (1C) after the word figuresand letters ldquosection 194EErdquo at both the placeswhere they occur the words figures andletter ldquoor section 194-Irdquo shall be inserted

The existing provisions provide that taxshall not be deducted if the recipient ofcertain payments on which tax isdeductible furnishes to the payer a self-declaration in prescribed Form No 15G15Hdeclaring that the tax on his estimatedtotal income of the relevant previous yearwould be nil In order to reducecompliance burden in such cases it isproposed to amend the provisions ofsection 197A for making the recipients ofpayments referred to in section 194-I alsoeligible for filing self-declaration in Formno 15G15H for non-deduction of tax atsource in accordance with the provisionsof section 197A

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsGeneralhellip


Proposal Impact

73 Clause 85 ndash Section206AA

Sub-section (7) has been inserted wef 01June 2016 As per the sub-section theprovisions of section 206AA will not beapplicable a non-resident not being acompany or to a foreign company in respectofmdash(i) payment of interest on long-term bonds asreferred to in section 194LC and(ii) any other payment subject to suchconditions as may be prescribedrdquo

Relaxation to non-resident includingforeign company in respect of furnishingPAN Number

74 Clause 86 ndash Section 206C

TCS on sale of Motor vehicles exceeding Rs 10lakhs shall collect tax at the rate of 1Further TCS on purchase of goods orprovisions of services exceeding Rs 200000-in cash has been introduced However thisclause will not be applicable if TDS has beenmade on the payments Also if certainspecified conditions (as may be prescribed)are fulfilled the said amendment would not beapplicable

In order to reduce the quantum of cashtransaction in sale of any goods andservices and for curbing the flow ofunaccounted money in the trading systemand to bring high value transactions withinthe tax net this amendment is proposed inrelation to luxury cars which shall result inthe raise of Cost of luxury cars

UNION BUDGET---------------------------



Proposal Impact

75 Clause 87 ndash Section 211

Section 211 has been amended As per theamended section all assessees have to payadvance tax in 4 instalments wef 01 June2016 when compared to 3 instalments byassessees other than Companies Furthereligible assessee in respect of eligible businessreferred to in section 44AD to the extent ofthe whole amount of such advance tax duringeach financial year on or before the 15th March

Advance tax payment schedule currentlyapplicable to Companies has beenextended to all assessee Furtherassesses paying income-tax underpresumptive taxation us 44AD also haveto pay advance tax on or before 15th March


An order accepting or rejecting the applicationfrom an assessee either in full or in part forreduction or waiver of amount of interest paidor payable shall be passed within 12 monthsfrom the end of the month in which theapplication has been received No orderrejecting the application shall be passed unlessthe assessee has been given an opportunity ofbeing heard For applications pending as on 01June 2016 orders shall be passed on or before31 May 2017

Clarity on time limit for acceptance orrejection of an application for waiver ofinterest

UNION BUDGET---------------------------



Proposal Impact


bull Wef 01 June 2016 an assessee otherthan an eligible assessee in respect of theeligible business referred to in section44AD who is liable to pay advance taxshall be liable to pay interest at the rate of1 per month for a period of three monthson the amount of shortfall from 15 or45 or 75 as the case may be of the taxdue on the returned income

bull The advance tax paid by the assessee onthe current income on or before the 15thday of March is less than the tax due onthe returned income then the assesseeshall be liable to pay simple interest at therate of 1 per month on the amount of theshortfall from the tax due on the returnedincome

As the advance tax schedule applicable toCompanies has been extended to allassesses interest will also be payable byall assesses if advance tax is not paidwithin the stipulated time

78 Clause (25) - Section 44AB(b)

Tax Audit limits for assesses carrying onprofession has been increased from Grossreceipts of Rs 25 Lakhs to Rs 50 Lakhs wef01-04-2017

Audit compliance has been relaxed forProfessionals where the Gross Receiptsdoes not exceed Rs 50 Lakhs

UNION BUDGET---------------------------



Proposal Impact


An eligible assessee in respect of the eligible businessreferred to in section 44AD who is liable to pay advancetax under section 208 has failed to pay such tax or theadvance tax paid by the assessee on its current incomeon or before the 15th day of March is less than the taxdue on the returned income then the assessee shall beliable to pay simple interest at the rate of 1 on theamount of the shortfall from the tax due on the returnedincomeFurther nothing in this section shall apply to incomeunder the head ldquoProfits and gains of business orprofessionrdquo in cases where the income accrues or arisesunder the said head for the first time

Interest will be payable byassesses paying income-taxunder presumptive taxation us44AD if advance tax is not paidwithin the stipulated time


For refunds arising out of any TCS us 206C paid by wayof advance tax and treated as paid us 199 Interest onrefund will be paid from the first day of the assessmentyear till the date of refund in cases where return ofincome has been filed on or before the due dateIn any other case interest will be paid from the date offiling of return of income till the date of refundWhere refund is out of any tax paid us 140A interestshall be calculated from the date of furnishing of returnof income or payment of tax whichever is later to thedate on which the refund is granted

UNION BUDGET---------------------------



Proposal Impact


In addition a new sub-section 1A has been inserted asfollowsIn a case where a refund arises as a result of giving effectto an order under section 250 or section 254 or section260 or section 262 or section 263 or section 264 whollyor partly otherwise than by making a fresh assessmentor reassessment the assessee shall be entitled toreceive in addition to the interest payable under sub-section (1) an additional interest on such amount ofrefund calculated at the rate of three per cent perannum for the period beginning from the date followingthe date of expiry of the time allowed under sub-section(5) of section 153 to the date on which the refund isgrantedrdquo

Additional interest will be paidto the assessee if there is adelay in giving effect to theorders passed us 250 254 260262 263 or 264


A new proviso has been inserted after the proviso to sub-section 1 as followsldquoProvided further that where an application has beenmade under sub-section (1) of section 270AA the periodbeginning from the date on which the application ismade to the date on which the order rejecting theapplication is served on the assessee shall be excludedorrdquo

Clarification in respect ofcalculation of period undersection 270AA

UNION BUDGET---------------------------



Proposal Impact


Wef 01 June 2016 sub-section 2A and 3A have beenomittedFurther sub-section 4 has been substituted as followsThe Assessing Officer or the assessee as the case maybe on receipt of notice that an appeal against the orderof the Commissioner (Appeals) has been preferredunder subsection (1) or sub-section (2) by the other partymay notwithstanding that he may not have appealedagainst such order or any part thereof within thirty daysof the receipt of the notice file a memorandum of cross-objections verified in the prescribed manner against anypart of the order of the Commissioner (Appeals) andsuch memorandum shall be disposed of by the AppellateTribunal as if it were an appeal presented within the timespecified in sub-section (3)Further in sub-section (6) for the proviso the followingproviso shall be substituted and shall be deemed to havebeen substituted with effect from the 1st day of July2012 namelymdash ldquoProvided that no fee shall be payable inthe case of an appeal referred to in sub-section (2) orsub-section (2A) as it stood before its amendment by theFinance Act 2016 or a memorandum of cross objectionsreferred to in sub-section (4)rdquo

UNION BUDGET---------------------------



Proposal Impact


Wef 01 June 2016 reduction in time limit for passing arectification order by ITAT from 4 years from the date oforder to six months from the end of the month in whichthe order was passed

Reduce the time limit forspeedy processing


Raise in monetary limit from Rs 15 Lakhs to Rs 50 Lakhsfor disposing of case sitting singly which has beenallotted to the Bench of which he is a member and whichpertains to an assessee whose total income as computedby the Assessing Officer This is wef 01 June 2016

Penalty payable at thediscretion of the Income-taxofficer is reduced by definingthe amount of penalty to bepaid


New section 270A has been inserted for levy of penaltyfor under-reporting and mis-reporting of income wef 01April 2017 Penalty shall be a sum equal to 50 of theamount of tax payable on under-reported incomewhere under-reported income is in consequence of anymisreporting thereof by any person the penalty referredto in sub-section (1) shall be equal to 200 of the amountof tax payable on under-reported income

The new section 270A shallcover levy of penalty for under-reporting and misreporting ofincome

87 Clause 97 ndash Section 270AA

New section 270AA has been inserted to provide forimmunity from imposition of penalty us 207A andinitiation of proceedings us 276C subject to fulfillment ofcertain conditions wef 01 April 2017

UNION BUDGET---------------------------



Proposal Impact


The provisions of this section shall not be apply to and inrelation to any assessment for the assessment yearcommencing on or after the 1st day of April 2017

In applicability of Failure tofurnish returns comply withnotices concealment of incomeetc


In section 271A of the Income-tax Act after the wordsldquoWithout prejudice to the provisions ofrdquo the wordsfigures and letter ldquosection 270A orrdquo shall be inserted witheffect from the 1st day of April 2017


Penalty for failure to furnish information and thedocument as required under sub-section (4) of section92D has been changed to Rs 500000- from the existing2 value of each international transaction or specifieddomestic transaction entered into by such person

Clarity on penalty to be imposed

91 Clause 101 ndash Section 271AAB

Penalty in case of search operations - penalty computedat the rate of 60 of the undisclosed income of thespecified year as against the existing provision of 30-90


92 Clause 102 ndash Section 271GB

Insertion of new section 271GB - penalty for failure tofurnish report or for furnishing inaccurate report us 286


Section 272A will be applicable in case of non-complianceus 142(1) 143(2) or 142(2A) wef 01 April 2017

UNION BUDGET---------------------------



Proposal Impact


Time limit either accepting or rejecting the application infull or in part for reduction or waiver of penalty - within aperiod of twelve months from the end of the month inwhich the application under the said sub-section isreceived by the Principal Commissioner or theCommissioner

Clarity on disposal of anapplication


Time limit either accepting or rejecting the application infull or in part for grant of immunity from penalty - withina period of twelve months from the end of the month inwhich the application under the said sub-section isreceived by the Principal Commissioner or theCommissioner

Clarity on time limit foracceptance or rejection of anapplication for grant ofimmunity from penalty

96 Clause 106 ndash Section 273B

In section 273B of the Income-tax Act after the wordfigures and letters ldquosection 271GArdquo the word figuresand letters ldquosection 271GBrdquo shall be inserted with effectfrom the 1st day of April 2017


In section 279 of the Income-tax Act in sub-section (1A)after the words ldquoor imposable on him underrdquo the wordsfigures and letter ldquosection 270A orrdquo shall be inserted witheffect from the 1st day of April 2017

UNION BUDGET---------------------------



Proposal Impact


Where the assessee furnishes a guarantee from ascheduled bank for an amount not less than the fairmarket value of the property provisionally attachedunder sub-section (1) the Assessing Officer shall by anorder in writing revoke such attachment The clausefurther specifies the procedure for invoking bankguarantee and attachment of property

Clarity on the procedure to befollowed in case of attachmentof property and invoking ofbank guarantee


In section 282A of the Income-tax Act in sub-section (1)for the words ldquosigned in manuscript by that authorityrdquothe words ldquosigned and issued in paper form orcommunicated in electronic form by that authority inaccordance with such procedure as may be prescribedrdquoshall be substituted with effect from the 1st day of June2016

Includes notices issued inelectronic format


Insertion of new section 286 ndash furnishing of report inrespect of international group in the form and manner onor before such date as may be prescribed


In section 288 of the Income-tax Act in sub-section (4) inclause (b) after the word and figure ldquosection 271rdquo thewords brackets letters and figures ldquoclause (d) of sub-section (1) of section 272A orrdquo shall be inserted witheffect from the 1st day of April 2017

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsEqualisation Levybull It recommended by the Finance Bill 2016 to impose of a final withholding tax on certain payments for digital goods or

services provided by a foreign e-commerce provider or imposition of a equalisation levy on consideration for certain digital transactions received by a non-resident from a resident or from a non-resident having permanent establishment in other contracting state

bull Equalisation levy of 6 of the amount of consideration for specified services received or receivable by a non-resident not having permanent establishment (PE) in India from a resident in India who carries out business or profession or from a non-resident having permanent establishment in India

bull Further in order to reduce burden of small players in the digital domain it is also provided that no such levy shall be made if the aggregate amount of consideration for specified services received or receivable by a non-resident from a person resident in India or from a non-resident having a permanent establishment in India does not exceed Rs 1 Lakhin any previous year

bull it also proposes to confer the power on the Central Government to make rules for the purposes of carrying out the provisions of this Chapter and further provides that every rule made under this Chapter shall be laid before each House of Parliament

bull In order to avoid double taxation it is proposed to provide exemption under section 10 of the Act for any income arising from providing specified services on which equalisation levy is chargeable

bull It is further proposed to provide that the expenses incurred by the assessee towards specified services chargeable under this Chapter shall not be allowed as deduction in case of failure of the asseseee to deduct and deposit the equalisation levy to the credit of Central government

Clauses 160 to 177

UNION BUDGET---------------------------

2016-17Direct Tax ProposalsThe Income Declaration Scheme 2016bull An opportunity is proposed to be provided to persons who have not paid full taxes in the past to come forward and

declare the undisclosed income

bull Pay tax surcharge and penalty totalling in all to 45 of such undisclosed income declared

bull The scheme is proposed to be brought into effect from 1st June 2016 and will remain open up to the date to be notified by the Central Government in the official gazette The scheme is proposed to be made applicable in respect of undisclosed income of any financial year upto 2015-16

bull Ineligible casesbull notices have been issued under section 142(1) or 143(2) or 148 or 153A or 153Cbull A search or survey has been conducted and the time for issuance of notice under the relevant provisions of the

Act has not expired orbull Where information is received under an agreement with foreign countries regarding such incomebull Cases covered under the Black Money Act 2015 Persons notified under Special Court Act 1992 Cases covered

under Indian Penal Code the Narcotic Drugs and Psychotropic Substances Act 1985 the Unlawful Activities (Prevention) Act 1967 the Prevention of Corruption Act 1988

bull Declarations made under the scheme shall be exempt from wealth-tax in respect of assets specified in declaration It is also proposed that no scrutiny and enquiry under the Income-tax Act and Wealth-tax Act be undertaken in respect of such declarations and immunity from prosecution under such Acts be provided

bull Immunity from the Benami Transactions (Prohibition) Act 1988 is also proposed for such declarations subject to certain conditions

Clauses 178 to 196

UNION BUDGET---------------------------

2016-17Indirect Tax ProposalsExcise Customs Sales Tax amp Service Tax

Slno Act amp Section Reference

Proposal Impact

1 Central Sales Tax Act 1956Section 3

Explanation 3 is added ldquoWhere the gas sold orpurchased and transported through a commoncarrier pipeline or any other common transport ordistribution system becomes co-mingled andfungible with other gas in the pipeline or systemand such gas is introduced into the pipeline orsystem in one State and is taken out from thepipeline in another State such sale or purchase ofgas shall be deemed to be a movement of goodsfrom one State to anotherrdquo

Defines Deems rules for lsquoInter State Salersquo ofGas through Pipelines as against theconventional transportation methods andcrossing state borders

2 Service Tax Chapter VI of Finance Bill2016

bull An additional Cess 05 is to be introduced inthe name of lsquoKrishi Kalyan Cessrsquo

bull Proposed from 1st June 2016

bull Effective Service Tax rate to become 15bull Proposed to be included within the Cenvat

Credit chain

3 Service Tax ndashChanges to Mega Exemption Notification

bull Services by Senior Advocate to anotherAdvocate or Firm of Advocates ndash Exemptionwithdrawn Applicability proposed from 1st April2016

bull Separate entry inserted for services by IIT(Indian Institute of Management) to Students(1st March 2016)

bull Service Tax on such services becomesapplicable and is to be billed by such ServiceProvider (and not the Service Receiver)

bull Services by IIT becomes exempt exceptlsquoExecutive Development Programmesrsquo

UNION BUDGET---------------------------

2016-17Indirect Tax ProposalsExcise Customs Sales Tax amp Service Taxhellip


Proposal Impact

Service Tax ndashChanges to Mega Exemption Notification(contdhellip)

bull Entry no 12A has been introduced for Servicesprovided to Government or local authorityrelating to Construction erectioncommissioning etc for Civil Structures forother than commercial purpose or foreducation clinical or art or culturalestablishment or residential complex for selfuse or employees

bull It is a reintroduction of provisions removedlast year and more importantly is applicableonly for contracts entered before 1st March2015 and not be applicable after 31st March2020

bull Applicable for 1st March 2016

bull Entry no 14 amended to exclude metro amp monorails from being exempt

bull Any metro or mono rail constructionerection or commissioning from 1st March2016 shall be taxable

bull Entry no 14A has been introduced forconstruction erection commissioning orinstallation of original works pertaining to anairport or port



bull Folk or classical artist per performancethreshold increased from Rs 1 lakh to Rs 15lakhs

bull Higher exemption per performance

UNION BUDGET---------------------------



Proposal Impact


Services provided by authorities likebull Pension Fund Regulatory and Development

Authority of Indiabull Employee Provident Fund Organisationbull Insurance Regulatory and Development

Authority of Indiabull Securities and Exchange Board of India

bull Exemptions are only prospective the earliertaxability may be questioned

bull New exemption introduced for transportationof goods by an aircraft from a place outsideIndia up to the customs station of clearance inIndia

bull Clarifying the taxability and reducing thetax burden

4 Service Tax Rules 1994Rule 6

bull First proviso pertaining to quarterly payment ofService Tax extended to HUFrsquos and One PersonCompanies with previous year taxable serviceturnover up to fifty lakh rupees

bull Third proviso pertaining to payment of ServiceTax on lsquoreceiptrsquo basis extended to One PersonCompanies

bull Rationalisation of benefits to specificAssessees

bull This proviso already covers Individuals ampPartnership firms

5 Rule 6 (7A) bull in case of single premium annuity policies otherthan the ones in which the investment isallocated from premium and intimated to policyholder 14 per cent of the single premiumcharged from the policy holder

bull Reduction in Service Tax which currently isbeing charged 35 of first year premiumand 175 of premiums charged in thesubsequent years

UNION BUDGET---------------------------



Proposal Impact

6 Rule 7 (3A) bull New Annual Return introduced for Service Taxto be filed before 30th November every year

bull If filed within due date the time for revision oflsquoAnnual Returnrsquo shall be 1 month

bull If not filed within due date Rs 100- per dayshall be the penalty subject to maximum of Rs20000

bull Additional Compliance

7 Point of Taxation Rules 2011

bull Applicability of Point of Taxation rules havebeen brought within the ambit of Section 67A

bull This means Service Tax would be applicableonly at the rates which were applicablewhen the Services were provided or agreedto be provided

bull Rule 5 of Point of Taxation rules in case ofnew levy shall now be interpreted subjectto Section 67A

8 Notification 112016 bull Packaged software recorded in a mediawhether produced domestically or importedand Excise Duty or Counter Vailing Duty paid onthe Retail Sale Price under Section 4A of CentralExcise Act is EXEMPTED from Service Tax

bull Clarificatory in nature and puts to rest manyof the unanswered questions on Service Taxliability of software

9 Section 75 of Finance Act 1994

Interest on delayed payments rationalized asfollowsbull When Service Tax is collected and not paid ndash 24

pabull All other situations ndash 15 pa

bull This shall come into force from the date thefinance bill receives assent of President

bull Substantially reduces the Interest burdenon the Assessee which is currently as highas 30

UNION BUDGET---------------------------



Proposal Impact

10 Service Tax Rules1994

bull Word lsquoSupportrsquo removed from Servicesprovided by Government or its authorities

bull Service Tax shall become applicable on allservices received from Government or itsauthorities on Reverse Charge basis

bull This shall become applicable from 1st April2016

11 Abatement Notification 262012

bull Transport of goods in containers by rail by anyperson other than Indian Railways has beenmade taxable 40 of value without inputcredit on inputs amp capital goods

bull Services of goods transport agency in relationto transportation of used household goods hasbeen made taxable 40 without any inputcredit

bull Services provided by a foreman of chit fund inrelation to chit is made taxable 70 withoutany input credit

bull Services by a Tour Operator is rationalised onlyinto 2 categories

- Only for arranging or bookingaccommodation ndash Taxable 10 ofvalue subject to conditions alreadyexisting

- All other Services are taxable 30 ofvalue

bull Currently abatement of 70 is beingenjoyed it is reduced to 60


bull Newly introduced

bull Currently 3 different abatementsconsolidated into 2 for better governance

UNION BUDGET---------------------------



Proposal Impact

Abatement Notification 262012(contdhellip)

bull Transport of goods in a vessel ndash Input Servicescredit allowed even if abatement is availed

bull Construction of building complex civilstructure abatement reduced from 75 to 70

bull Cenvat Credit benefit givenbull Taxable amount increases resulting in

higher service tax liability

12 Central Excise TariffAct Chapter 7113Jewellery Items

bull Jewellery (except Jewellery made only of Silver)are subject to Excise Duty 1

bull Brand owner is liable to pay Excise dutybull Small Scale Industry exemption under

notification 82003 benefit extended to Rs 6crores per annum for Jewellery items

bull For March 2016 exemption is pro-rated to Rs50 lakhs

bull Registration under Central Excise may be takeneven centrally by such jewelers

bull A revisit of old provisions to increase thetax base

bull For the purpose of availing Small ScaleIndustry Exemption Rs 12 Crores has beenfixed as turnover limit (for previous year)

bull If the turnover is within the above limit thenan exemption up to Rs 6 Crores is availableunder Notification 82003

13 Central Excise TariffAct Chapter 61 62 amp 63 ndash Garments Apparels (except laminated Jute bags)

bull All goods bearing a brand name or sold under abrand name and having retail sale price (RSP) ofRs1000 and above have been brought under 1Excise Duty without CENVAT Credit benefit


14 Information Technology Softwarendash Central Excise

bull IT Software recorded in a media on whichdeclaration of Retail Sale Price is not mandatoryshall be exempt from Excise Duty provided it istaxable under Service Tax

bull Clarity in Taxation brought about (refer Slno 8) for exemption conditions underService Tax

UNION BUDGET---------------------------



Proposal Impact

15 Central Excise Tariff Act Chapter 8703 ndashInfrastructure Cess ndashCENVAT Credit Rules 2004

bull Motor cars and other motor vehicles principallyDesigned for the transport of persons (otherthan Those with capacity of carrying 10 or morepersons) including station wagons And racingcars are subjected to an additional levylsquoInfrastructure Cessrsquo 1 - 4

bull Certain categories of vehicles falling under 8703exempted like ambulance Taxirsquos Threewheeled vehicles Cars for physically challenged

bull CENVAT Credit cannot be utilised forpayment

bull One more cess Adding up to theexpenditure

16 Central Excise Rules 2002

bull Rule 12 ndash Annual Financial Information replacedwith lsquoAnnual Returnrsquo and it is made applicablefor EOUrsquos as well

bull Time limit for revision of such returns 1 monthfrom submission if submitted within due date

bull Annual Installed Capacity Statement removedfrom compliance

bull Rule 17 ndash Monthly return by EOUrsquos - Time limitfor revision of such returns 1 month fromsubmission if submitted within due date

bull Consolidation of Returns therebyextracting information from lesser returnsthan more returns being filed underdifferent names and timelines

17 Central Excise Tariff Act Chapter 6201

bull Menrsquos or boysrsquo overcoats car-coats cloaksanoraks (including ski-jackets) windcheaterswind-jackets and similar articles tariff value forvaluation increased from 30 to 60 of MRP

UNION BUDGET---------------------------



Proposal Impact

18 Central Excise Act Section 4A ndash MRP based valuation

bull Soaps and related items Footwear abatementon retail sale price fixed at 30

bull 7607 items abatement introduced at 25bull Wrist wearable devices (commonly known as

smart watches) notified under MRP basedvaluation and abatement fixed at 35

bull Change in abatement percentages and newabatements (goods) introduced underMRP based valuation

19 CENVAT Credit Rules 2004 ndash Capital Goods

bull In Rule 2(a) ndash ldquowagons of sub-heading 860692rdquohave been included under the definition ofCapital Goods for the purpose of CENVAT

bull Further lsquoEquipment and Appliances used in theofficersquo are also made eligible to be called aslsquoCapital Goodsrsquo for CENVAT

bull Goods used for lsquoPumping waterrsquo even if usedoutside the factory shall be eligible as CapitalGoods for CENVAT

bull Widening the scope of Capital Goods infavour of the Assessee

20 CENVAT Credit Rules 2004 ndash Exempted Goods

bull Rule 2(e) amended to state that lsquoexemptedgoodsrsquo does not include

1 Services Exported under Rule 6A ofService Tax rules

2 Goods transportation by vessel fromIndia to outside India

bull Puts to rest the ambiguity of CENVAT Creditreversals on such Services

UNION BUDGET---------------------------



Proposal Impact

21 CENVAT Credit Rules 2004 ndash Inputs ndash Rule 2(k)

bull Capital Goods with value up to Rs 10000- is tobe treated as lsquoInputsrsquo

bull Enhances the ease of doing business byrelieving the responsibility to maintainbooks for less value capital goods

22 CENVAT Credit Rules 2004 ndash Input Service Distributor ndash Rule 2(m)

bull lsquoAn outsourced manufacturing unitrsquo is alsoincluded within the definition

bull This will help in distribution of commonAdvertisement and other expenses bybrand owners who get goodsmanufactured and market it in their name

23 CENVAT Credit Rules 2004 ndash Rule 4

bull jigs fixtures moulds and dies or tools fallingunder Chapter 82 when sent to Job worker orother manufacturer even without bringingthese to his premises CENVAT Credit can beallowed

bull Power of DC or AC to allow inputs to be storedin Job workers for a period of 1 financial yearincreased to 3 financial years

bull Moulds tools Jigs and fixtures have beenspecified as covered under Chapter 82which brings clarity

bull Allowing credit even on directly sent itemseases operational difficulty

bull CENVAT Credit on Input Service tax paid onright to use any natural resource shall be spreadover the period for which the right is acquiredand cannot be used in the year of acquisitionitself

bull Deferment of Input Service credit foraugmenting Tax collections

UNION BUDGET---------------------------



Proposal Impact

24 CENVAT Credit rules 2004 ndash Rule 6

bull Services not falling within Section 65B(44)definition is intended to be treated at par withexempted services for reversal of commonCENVAT credit

bull Rule 6 (3) reversals substantiated with specificdefinitions and methods of computation logics

bull The whole sub-rule has been recast for easyunderstanding

bull On one hand it clarifies the position but onthe other it takes away the CENVAT benefitby a significant value

bull It is aimed at improving Credit flow andreducing litigations

25 CENVAT Credit rules2004 ndash Rule 7B

bull Distribution of credit on inputs by warehouse ofmanufacturer under the cover of an invoiceissued by another warehouse of the saidmanufacturer

bull Input Credit will move along with the Inputsand avoids stagnation of credit at mainfactory or premises

26 CENVAT Credit rules2004 ndash Rule 9A

bull Monthly Return on Principal inputs ndash ER 6abolished

bull ER ndash 4 5 amp 7 consolidated into 1 annual return


27 Notification 272012 ndashRule 5 (Refund) of CENVAT Credit rules 2004

bull Time limit for application for Refund forManufacturer and Service provider demarcated

bull For service providers one year time limit is tobe considered from date of receipt of paymentwhen invoice precedes payment In other casesthe one year shall be from Date of Invoice

bull Clarificatory in nature

UNION BUDGET---------------------------



Proposal Impact


bull Sub- rule (2) of rule 14 prescribes a procedure based on FIFO method for determining whether a particular credit has been utilized

bull The said sub-rule is being omittedbull Applicable from 1st April 2016

29 Section 11AA Central Excise Act amp Customs Act

bull Reduction in rates of interest to 15 from 18(effective from date of Finance Bill getting thePresidents assent)

bull Assesse friendly proposal and allows thefocus to be on the legislation than on theticking Interest

30 Rule 9 of CentralExcise Rules

bull Manufacturers of goods chargeable to nil rateof duty mdash Exemption from operation of Rule 9is now extended to cover under lsquosingleregistrationrsquo factories located within close areasubject to approval by Commissioner

bull Benefits the exempted nil rate goodsmanufacturers in the form of lessercompliances

31 Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules 2001

bull These rules are proposed to be superseded byCentral Excise (Removal of Goods atConcessional Rate of Duty for Manufacture ofExcisable and Other Goods) Rules 2016

bull New and additional compliances prescribedfor Assessees

32 Section 11A of Central Excise Act 1944

bull Amended so as to increase the period oflimitation from one year to two years in casesnot involving fraud suppression of facts willfulmis-statement etc

bull Good move from a Department perspectivebut assesse is made to bear the brunt

UNION BUDGET---------------------------



Proposal Impact

bull Limitation period increased from 18 months to 30 months for short levynon levy short payment non-payment erroneous refund of Service Tax

33 Customs ndash Baggage Rules 1998

bull Superseded by Baggage Rules 2016 which is to be effective from 1st April 2016

bull Only 2 age categories - up to age of 2 years called as lsquoinfantrsquo and - Above 2 years age category

bull For Indian resident origin arriving (except infant) from countries other than Nepal Bhutan amp Myanmar free allowance up to Rs 50000

bull For foreign origin persons arriving (except infant) from countries other than Nepal Bhutan amp Myanmar free allowance up to Rs 15000

bull Infant only used personal effects are allowed no free allowance

bull Jewellery for Lady passengers capped at 40 gms (value Rs 100000)

bull Transfer of residence free allowance provided - for stay from 3 months up to 6 months

at Rs 60000- From 6 months to 1 year Rs 1 lakh- Minimum 1 year out of 2 years Rs 2 lakhs- Stay of 2 years or more Rs 5 lakhs

bull Clarity of provisions has emergedbull Higher amounts of General Free Allowance

would mean happy travellers

UNION BUDGET---------------------------



Proposal Impact

bull Passengers arriving from Nepal Bhutan amp Myanmar free allowance only up to Rs 15000

bull Jewellery for Gentleman passengers capped at 20 gms (value Rs 50000)

34 Customs Act 1962 ndash bull Section 2(43) was amended by including aspecial warehouse licensed under section 58A

bull The period of limitation has been increasedfrom one year to two years in case of bonafideerror in assessment

bull The provisions of Section 61 relating period ofwarehousing has been extended to all goodsused by Export Oriented Undertakings Unitsunder Electronic Hardware Technology ParksSoftware Technology Parks Ship Building Yardsand other units manufacturing under bond

bull Additionally Principal Commissioners andCommissioners have been empowered toextend the warehousing period up to one yearat a time

bull The payment of fees to Customs for supervisionof manufacturing facilities under Bond is nolonger required Principal Commissioner orCommissioner of Customs empowered tolicense such activities

bull To enable the storage of specific goodsunder physical control of the departmentas control over the other types ofwarehouses would be only record based

bull Similar to Service tax and Excise assesse ismade to bear the brunt of Departmentsdelay

UNION BUDGET---------------------------

2016-17

KOLKATA 501 Ashoka Houseinfosncassociatescoin 3A Hare Street Level ndash 5 sarafsarafchandracom Kolkata ndash 700 001

+91-33-22317108

MUMBAI Bharat Insurance Buildingadityasncassociatescoin 3rd Floor 15A Horniman Circle Fortmumbaisarafchandracom Mumbai ndash 400 001

+91 98211 62178

GURGAON 903-904 Tower ndash C Unitech Business Zone nishantsncassociatescoin Nirvana Country Sector ndash 50nishantsarafchandracom Gurgaon ndash 122 018

+91 98104 83834

CHENNAI Building No1 2nd Floor chennaisncassociatescoin 1st Street Balaji Nagar Ekkaduthangalvenkatsarafchandracom Chennai- 600 032

+91 90940 02280

BANGALORE Sri Lakshmi Plazabangaloresncassociatescoin 3rd Floor No 61 7th Crossbangaloresarafchandracom 24th Main JP Nagar 2nd Phase

Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------

2016-17

Particulars Slide

State of the Economy 3-7

Key Policy Announcements 8-12

Budget Financials 13-14

Direct Tax Proposals 15-54

Indirect Tax Proposals 55-67

Contents

DISCLAIMERThe information contained in this communication is intended solely for the use of the individual or entity to whom it is addressed andothers authorized to receive it If you are an un-intended recipient please notify us immediately by responding to this email and thendelete it from your system Any action based on content in this communication shall be at the sole risk responsibility and liability of theindividual taking such action These updates shall not under any circumstance be construed as any kind of professional advice or opinionand we expressly disclaim any and all liability for any harm loss or damage including without limitation indirect consequential specialincidental or punitive damages resulting from or caused due to your reliance and actionsinactions on the basis of this communication

UNION BUDGET---------------------------


Summary






UNION BUDGET---------------------------


Summaryhellip






UNION BUDGET---------------------------





106577409858750

1135176010438730


341606094750

35030

6504720


UNION BUDGET---------------------------





410290

390280


26034802480

31027701890


200630

-300560


UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


Summary






UNION BUDGET---------------------------


Summaryhellip






UNION BUDGET---------------------------





106577409858750

1135176010438730


341606094750

35030

6504720


UNION BUDGET---------------------------





410290

390280


26034802480

31027701890


200630

-300560


UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


Summaryhellip






UNION BUDGET---------------------------





106577409858750

1135176010438730


341606094750

35030

6504720


UNION BUDGET---------------------------





410290

390280


26034802480

31027701890


200630

-300560


UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------





106577409858750

1135176010438730


341606094750

35030

6504720


UNION BUDGET---------------------------





410290

390280


26034802480

31027701890


200630

-300560


UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------





410290

390280


26034802480

31027701890


200630

-300560


UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------




(AE)



1080550800440

690950590370


98010601070

9501030690


UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


INTRODUCTION








UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------










RURAL SECTOR

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


RURAL SECTORhellip






UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------





to be set-up







UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------





FISCAL DISCIPLINE




UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


Sl No


FY 15-16Budget

Estimates

FY 15-16Revised

Estimates

FY 16-17Budget

Estimates



3 Total Receipts (1 + 2) 1663673 1777477 1785391 1978060






9 Revenue Deficit (7-1) 365520 394472 341589 354015

10 Fiscal Deficit 510726 555649 535090 533904

11 Primary Deficit 108281 99504 92469 41234

In Rupees Crore


UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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Clauses 160 to 177

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Clauses 178 to 196

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Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------


24

20

149

10

9

311

RUPEES IN




20

11

10

118

5

23

12

RUPEES OUT




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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



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Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



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Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact







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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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Proposal Impact
















UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







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Proposal Impact













UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



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UNION BUDGET---------------------------



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UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact









UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact




UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact



















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact








UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact






UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact







UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact



UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact











UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------








Clauses 160 to 177

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------










Clauses 178 to 196

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact








Credit chain






UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact












UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact





















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact














UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact


















UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact
















UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact













UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------



Proposal Impact










UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

UNION BUDGET---------------------------

2016-17


+91-33-22317108


+91 98211 62178


+91 98104 83834


+91 90940 02280


Bengaluru- 560078+91 97318 64646

interesting facts about india's budget - lexsite.com

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