Wealth tax to be completely abolished and replaced by additional 2% cess to be levied on the superrich with income of over rs. Indian budget 201516, click here to read import customs duty and excise duty changes. Arun jaitley this was the first fullfledged budget by the national democratic alliance government. Following 14th finance commission recommendations, states will get higher resources. Corporate tax rate to be reduced to 25 % from the current level of 30% over the next four years. It was the first full year budget of the nda government under leadership of prime minister of narendra modi and the second budget of arun jaitley as finance minister. Thirdly, i also intend to permit tax free infrastructure bonds for the projects in the rail. Union budget niti aayog and finance commission recommendations. The 2015 16 union budget of india was tabled in the lok sabha lower house of the parliament by arun jaitley, the union minister of finance, on 28 february.
Free music performances year round at memorial union and union south. Finance minsiter arun jaitley introduced union budget 2015 16. The beginning of the budget printing began on 19 february 2015 with the traditional halwa ceremony. Union budget of india 201516 highlights and analysis clear ias. Finance minister arun jaitley presented the union budget 2017, his fourth annual budget. Finance minister arun jaitley, who is presenting the union budget for fiscal 201516 in the parliament, on saturday said, with the fiscal space reduced, the government has decided to continue supporting important national priorities. Here are the highlights of jaitleys budget for the fiscal year that begins on april 1. Some of the highlights rationalizing tax provisions to effectively tap aifs, reits. Indian budget 201516, central excise duty changes, chapter wise.
The budget documents presented to parliament comprise, besides the finance ministers budget speech, of the following. Finance minister arun jaitley, who is presenting the union budget for fiscal 2015 16 in the lok sabha, said the government is establishing a mechanism self employment to support all aspects of start up business. Being termed as make or break, this is arun jaitley and the nda governments first. India hailed as a bright spot amidst a slowing global economy by imf. The highlights of taxation related announcements in the annual budget 2015 16 include. Highlights of union budget 201516 current affairs today. Finance minister arun jaitley presented the first fullyear budget of prime minister narendra modis government on saturday. Tax free infrastructure bonds for the projects in the rail. This annual document contains the developments in the indian economy during the financial year 201516, summarises the performance of major developmental initiatives, and highlights the steps taken by the government. Till 2016, it was presented on the last working day of february.
The highlights of taxation related announcements in the annual budget 201516 include. Budget 201516 major highlights in industry wise by subair na 2. The finance minister presented the economic survey 201516 before the parliament on 26 february 2016. Finance minister arun jaitley presented the union budget 201516 at the lok sabha on february 28, 2015.
Wud wisconsin union directorate, with over 300 student volunteers, planned and executed over 1,100 free programs reaching 655,000 students, faculty, staff and union members in fy15. Memorandum explaining the provisions in the finance bill, 2015. Union budget of india 201819 highlights and economic survey 2018 highlights pdf quick facts about union budget. Ie photo following are the highlights of the union budget 2015 16 presented by finance minister arun jaitley in parliament today.
The union budget for 2015 16 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. The budget, or officially, the union budget, is the prime written representation attributing the financial planning and strategy of the government of india for the next financial year. Union budget 201516 india, indian union budget 201516. Aiming at 78 per cent gross domestic product gdp growth in 34 years. Medium term fiscal policy cum fiscal policy strategy statement. Section of act nature of payment in brief cut off amount rate %. Here is a pdf containing all the key highlights in union budget 201516. The union budget for 201516 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. Amrut mahotsav the year 2022, 75th year of independence vision for team india led by pm. Objectives of tax policy objective of stable taxation policy and a nonadvers arial tax administration. The union budget of 201516 was the first full budget to be presented by the modi led government and was preceded by sky high expectations of reform. Fm arunjaitley leaves from his office to present union budget 2015.
Union budget 201415 india, indian union budget 201415. Indian budget excise duty tariff changes, chapter wise. Budget 2015 live india budget news, union budget 201516. Income tax rate cut to 5 pc for individuals having income between rs 2. We are bringing you the highlights and key announcements of budget 201516. It is a wellbalanced budget and the fact that the implications of this budget will boost the morale of indian economy to an inclusive growth. Contribution made in name of girl child will be tax free. Housing for all 2 crore houses in urban areas and 4 crore houses in rural areas. Finance minister arun jaitley, who is presenting the union budget for fiscal 201516 in the lok sabha, said the government is establishing a mechanism self employment to support all aspects of start up business. Gross domestic product gdp growth of india for 2015 16 projected between 88. Some of the challenges mentioned by the finance minister arun jaitley are.
Finance minister arun jaitley presented the union budget 201516. Union budget 201516 impact on the real estate and infrastructure sector sector overview despite the recent economic slowdown, the indian real estate sector continues to be a favoured investment avenue for both the domestic and overseas investors. Iifl has other business units with independent research teams separated by chinese walls catering to different sets of customers having varying objectives, risk profiles, investment horizon, etc. Finance minister arun jaitley announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Indian union budget 201516,make in india highlights. Gross domestic product gdp growth of india for 201516 projected between 88. Key features of budget 20152016 274 kb pdf file that opens in a. Income tax calculator new scheme vs old scheme and consent letter for fy 202021. Fight against the scourge of black money to be taken forward.
Highlights of union budget 201516 current affairs today gktoday. Union budget of india is referred to as the annual financial statement in the article 112 of the constitution of india. The union budget of 2015 16 was the first full budget to be presented by the modi led government and was preceded by sky high expectations of reform. Get latest updates on live budget news, budget 2014 date, budget highlights, and indian railway budget, income tax. Union budget 201516 is being presented by finance minister mr. Basic facility of 24x7 power, clean drinking water, a toilet and road connectivity. The finance bill, 2015 seeks to prescribe the rates of incometax on income liable to tax for the assessment year 20152016. The government presents it on the first day of february so that it could be materialised. Additional fiscal space will go to funding infrastructure investment.
It was a budget for corporates as corporate tax reduced from 30% to 25%. The union budget is a very important policy document which sets the tone for all other policies that are to be implemented during the course of the year. Experts pointed out that the union budget 201516 fell short of making investments for transmission infrastructure. Service tax changes as per indian union budget 201516. Sukanya samridhhi yojna gets tax free status sukanya samriddhi scheme is a new entrant in the smallsavings schemes category aimed at encouraging savings for a girl childs. A more detailed will be given later this coming week. Taxfree bonds for projects in rail road and irrigation ppp model for infrastructure development. This was the first full year budget of the nda government and the second budget of arun jaitley. Ie photo following are the highlights of the union budget 201516 presented by finance minister arun jaitley in parliament today. Corporate tax will be reduced from 30% to 25% along with removal of various types of exemptions from f. Union budget 201516 balancing act this report is published by iifl india private clients research desk. Union budget 201516 is special as this is the first budget after the creation of national institution of transforming india niti and acceptance of 14th finance commissions ffc recommendation of substantially higher devolution of union taxes to states. Union minister suresh prabhu presented the rail budget 2015 in parliament today and promised the pm narendra modi government would get the travel giant back on.
Union budget 201516 india, indian union budget 201516, pdf. Smoking, eating out, air travel to be costlier manufacturing sector neglected. Updating soon after budget 201718 on 1 st february,2017 under text format and pdf format budget changes in customs import duty tariff,excise duty and service tax. Expectation from budget was very high, but budget seems to be highly disappointing.
Tax free infrastructure bonds for projects in the rail, road and irrigation sectors. Feb 28, 2015 finance minister arun jaitley presented the union budget 2015 16 at the lok sabha on february 28, 2015. Being termed as make or break, this is arun jaitley and the nda governments first fullyear budget. From 20 february until the presentation of budget about 100 government employees remained locked up in the north block of the secretariat building, new delhi, which houses the budget printing press, to maintain secrecy. Affirming that the economy is right on track, finance minister arun jaitley presented the union budget for 201617. Union budget of india 201516 highlights and analysis. Highlights of the union budget 201516 gross tax receipts of 14. Dec 28, 2018 finance minister arun jaitley presented the union budget 2017, his fourth annual budget. Roadmap to achieve fiscal deficit of 3% of gdp in three years. Rate of corporate tax to be reduced to 25% over next four years. Union budget 201516 is announced by finance minister arun jaitley today.
From 20 february until the presentation of budget about 100 government employees remained locked up in the north block of the secretariat building, new delhi, which houses the budget printing press. Sukanya samridhhi yojna gets tax free status sukanya samriddhi scheme is a new entrant in the smallsavings schemes category. Union budget 201516 summary download pdf bankexamstoday. Tax benefit on hiring on employees base also widened. Union budget 201516 summary download pdf published on sunday, march 01, 2015.
Union finance minister arun jaitley presented union budget 201516 in the parliament. Union budget 201516 page 1 tax deducted at source tax deductedcollected at source f. Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in. The key features of the budget 274 kb, finance minister arun jaitleys budget speech 124 kb, budget at a glance 6 kb, finance bill 2015 364 kb and the macroeconomic framework satement 245 kb can be accessed here as pdf documents. Union finance minister arun jaitley presented union budget 2015 16 in the parliament. To counter declining exports, the government took various measures to boost exports in the union budget 201516 by announcing a new foreign trade policy ftp for the period 201520, aiming to increase indias. Till 2016, it was presented on the last working day of. The following are the major tax related changes introduced in union budget for 201516 presented by arun jaitley in parliament today. Additional 2% surcharge for the superrich with income of over rs. Lets look at key highlights of union budget 201516.
Indian union budget, changes in import customs tax tariff, chapter wise. It also in a way indicates the stance that may be taken by the rbi when. Finance minsiter arun jaitley introduced union budget 201516. The union budget for 201415 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on july 10, 2014.
Highlights direct tax proposals of union budget 201516. Union budget 201415 india, indian union budget 201415, pdf. Fund will try to leverage infrastructure companies. F inance minister arun jaitley today 28th february 2015 presented the union budget for the year 2015 16 aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. The government presents it on the first day of february so that it could be materialised before the beginning of new financial year in april. Download union budget 201516 highlights file in pdf format. Indian budget 201516, import customs duty changes, chapter wise. F inance minister arun jaitley today 28th february 2015 presented the union budget for the year 201516 aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. The union budget of india, also referred to as the annual financial statement in the article 112 of the constitution of india, is the annual budget of the republic of india.
Taxfree infrastructure bonds for projects in rail, road and irrigation sectors. It is the exclusive and best telugu education portal established by sakshi media group. But union budget 201516 marks the beginning of co operative federalism and empowerment of the states. The highlights of the union budget are as following. Macroeconomic framework for the relevant financial year. The union budget is presented to the parliament in two parts.
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