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Union Budget 2015:- Live

1.Budget estimates
Non-plan expenditure - Rs. 13,12,200 crore
Plan expenditure - Rs. 4,65,277 crore
Fiscal deficit - 3.9% of GDP
2.Taxation
  • Basic rate of corporate tax in India is now 30 per cent. But rate of collection is 23 per cent. A regime of exemptions has led to loss of revenue.
  • Coporate tax rate wil be reduced to 25 per cent over the next four years.
3.allocation for defence- Rs. 2,46,727 crore
4.education sector- Rs. 68,968 crore
5. AIIMS to be opened in- Jammu and Kashmir, Punjab, Tamil Nadu, Assam.
6.AIIMS-like institution in- Bihar
7.IIM in Jammu and Kashmir, and Andhra Pradesh.
8.IIT in Karnataka.
9.The latest CPI inflation is 5.1 % and whole sale price inflation is negative
10.The rupee has become stronger by 6.4 %
11.Our actions have not only being confined to core and macro economic areas alone
12.Objective is to improve quality of life and to pass benefits to common man
13.Govt two game changing reforms: GST and JAM Trinity(Jandhan, AADHAR, Mobile No)
14.GST will put in place state of art indirect tax system by April 1 2016
15.Incremental change is not going to take us anywhere we have to think in terms of quantum jumps
16.The 3 achievements of Govt have been — PM's Jan Dhan Yojana, transparent auctions & Swachh Bharat
17.Increase in agriculture productivity is essential for welfare for rural population
18.Providing medical facilities to each one of village and city is essential
19.Under Swach Bharat, 50 lakh toilets already built, 6 crore toilet targeted
20.Aim to make the country a prosperous and meaningful global power by 75th year of Independence
21.We are intend to achieve fiscal deficit of 3% in 3 years
22.Target of Rs 8.5 lakh crore of credit for agricultural sector
23.Investment in infrastructure will go up by 700 bln rupees in 2015/16 over last year
24.Plans to set up national investment infrastructure fund
25.Proposes tax-free infrastructure bonds for projects in roads, rail and irrigation projects
26.Proposes 5 "ultra mega" power projects for 4,000 MW each
27.Second unit of Kudankulam nuclear power station to be commissioned in 2015/16
28.Will need to build additional 100,000 km of road
29.Ports in public sector will be encouraged to corporatise under Companies Act
30.Propose to create a universal social security system for all Indians
31.Propose to merge commodities regulator with SEBI
32.Allocates 346.99 billion rupees for rural employment guarantee scheme in 2015/16
33.To bring a new bankruptcy code in 2015/16
34.Jaitley says will move to amend the RBI act this year, and provide for a monetary policy committee
35.To set up public debt management agency
36.To raise visa-on-arrival facility to 150 countries from 43
37. Shri Jaitley has proposed to provide resources to start work along these lines for the following Heritage Sites:
a. Churches & Convents of Old Goa
b. Hampi, Karnataka
c. Kumbalgarh and other Hill Forts of Rajasthan
d. Rani ki Vav, Patan, Gujarat
e. Leh Palace, Ladakh, J&K
f. Varanasi Temple town, UP
g. Jalianwala bagh, Amritsar, Punjab
h. Qutub Shahi Tombs, Hyderabad, Telangana

38. integrated education and livelihood scheme called ‘Nai Manzil’ will be launched this year to enable Minority Youth
39.Pradhan Mantri Suraksha Bima Yojana will be launched to cover accidental death risk of Rs. 2 lakh for a premium of just Rs. 12 per year.

40.The Atal Pension Yojana, which will provide a defined pension, depending on the contribution, and its period.
41.Senior Citizen Welfare Fund
unclaimed deposits of about Rs. 3,000 crore in the PPF, and approximately Rs. 6,000 crore in the EPF corpus will be used to subsidize the premiums of vulnerable groups such as old age pensioners, BPL card-holders, small and marginal farmers and others.
42.SC- Rs. 30,851 crore
     ST- Rs. 19,980 crore
    Women- Rs. 79,258 crore 

43.to bring parity in regulation of Non-Banking Financial Companies(NBFCs) with other financial institutions in matters relating to recovery, it is proposed that NBFCs registered with RBI and having asset size of Rs. 500 crore and above will b considered for notifications as ‘Financial Institution’ In terms of the SARFAESI Act, 2002.
44.A TRADE RECEIVABLES DISCOUNTING SYSTEM (TREDS) AN ELECTRONIC PLATEFORM FOR FINANCING OF TRADE RECEIVABLES OF MSMEs
45.MICRO UNITS DEVELOPMENT REFINANCE AGENCY (MUDRA) BANK SET UP FOR SMALL ENTERPRISES
46. MGNREGA-  Rs. 34,699 crore
47.Rural Infrastructure Development Fund (RIDF) set up in NABARD-  Rs.25,000 crore
48.“Paramparagat Krishi Vikas Yojana”- scheme to improve soil health, Union Minister propose to support Agriculture Ministry’s organic farming
49.Pradhanmantri Gram Sinchai Yojana-  to provide ‘Per Drop More Crop’
50.deferment of the General Anti Avoidance Rule (GAAR) by two years to accelerate the momentum of investment sentiment in the country
51.The Corporate Tax Rate is proposed to be reduced from the current 30% to 25% over the next 4 years.
52.MONETISING GOLD - the Government shall commence work on developing an Indian Gold Coin, which will carry the Ashok Chakra on its face Gold Monetisation Scheme will replace both the present Gold Deposit and Gold metal Loan Schemes. 





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