Tax<br />Infrastructure and agriculture cess to be levied.<br />Excise duty raised from 10 to 15 per cent on tobacco products other than beedis<br />1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.<br />SUVs, Luxury cars to be more expensive. 4% high capacity tax for SUVs.<br /><br />Companies with revenue less than Rs 5 crore to be taxed at 29% plus surcharge<br />Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties<br /><br />Excise 1 per cent imposed on articles of jewellery, excluding silver.<br />0.5 per cent Krishi Kalyan Cess to be levied on all services.<br /><br />Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher-end models.<br /><br />Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent.<br /><br />Personal Finance<br />No changes have been made to existing income tax slabs<br />Rs 1,000 crore allocated for new EPF (Employees' Provident Fund) scheme<br />Govt. will pay EPF contribution of 8.33% for all new employees for first three years<br />Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.<br />Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.<br />Service tax exempted for housing construction of houses less than 60 sq. m<br />15 per cent surcharge on income above Rs. 1 crore<br /><br />Social<br />Rs. 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17<br />Swacch Bharat Abhiyan allocated Rs.9,500 crores.<br />Hub to support SC/ST entrpreneurs<br />Government is launching a new initiative to provide cooking gas to BPL families with state support.<br />LPG connections to be provided under the name of women members of family: Rs 2000 crore allocated for 5 years for BPL families.<br />2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of 228%.<br />300 urban clusters to be set up under Shyama Prasad Mukherji Rurban Mission<br />Four schemes for animal welfare.<br /><br />Health<br />2.2 lakh renal patients added every year in India. Basic dialysis equipment gets some relief.<br />A new health protection scheme for health cover upto 1 lakh per family.<br />National Dialysis Service Prog with funds thru PPP mode to provide dialysis at all district hospitals.<br />Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme<br />PM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be opened<br /><br />Education<br />Scheme to get Rs.500 cr for promoting entrepreneurship among SC/ST<br />10 public and 10 private educational institutions to be made world-class.<br />Digital repository for all school leaving certificates and diplomas. Rs. 1,000 crore for higher education financing.<br />Rs. 1,700 crore for 1500 multi-skill development centres.<br />62 new navodaya vidyalayas to provide quality education<br />Digital literacy scheme to be launched to cover 6 crore additional rural households<br />Entrepreneurship training to be provided across schools, colleges and massive online courses.<br />Objective to skill 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojna-FM Jaitley<br />National Skill Development Mission has imparted training to 76 lakh youth. 1500 Multi-skill training institutes to be set up.<br /><br />Agriculture<br />Total allocation for agriculture and farmer welfare at Rs 35984 crores<br />28.5 lakh heactares of land wil be brought under irrigation.<br />5 lakh acres to be brought under organic farming over a three year period<br />Rs 60,000 crore for recharging of ground water recharging as there is urgent need to focus on drought hit areas cluster development for water conservation.<br />Dedicated irrigation fund in NABARD of Rs.20.000 cr<br />Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna.<br /><br />Banking<br />Banks get a big boost: Rs 25,000 crore towards recapitalisation of public sector banks. Jaitley says: Banking Board Bureau will be operationalised, we stand solidly behind public sector banks.<br />Target of disbursement under MUDRA increased to 1,80,000 crore<br />Process of transfer of government stake in IDBI Bank below 50% started<br />General Insurance companies will be listed in the stock exchange<br />Govt to increase ATMs, micro-ATMs in post offices in next three years<br /><br />------------------------------------------<br /><br />Subscribe to our channel: http://read.ht/fLZ<br /><br />Follow us on Twitter: https://twitter.com/htTweets<br /><br />Like us on Facebook: https://www.facebook.com/hindustantimes<br /><br />Watch more videos at: http://www.hindustantimes.com/video<br /><br />hindustantimes.com © 2015
