Union budget 201516 balancing act this report is published by iifl india private clients research desk. The following are the major tax related changes introduced in union budget for 201516 presented by arun jaitley in parliament today. The highlights of the union budget are as following. Following 14th finance commission recommendations, states will get higher resources. Budget 2015 live budget coverage online, union budget 201516, key points and highlights of india budget 2015, income tax slab, fdi by finance minister arun jaitely. Ie photo following are the highlights of the union budget 2015 16 presented by finance minister arun jaitley in parliament today. 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. Indian union budget, changes in import customs tax tariff, chapter wise. Service tax changes as per indian union budget 201516. 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. Free music performances year round at memorial union and union south. Some of the challenges mentioned by the finance minister arun jaitley are.
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. 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 201516 in the parliament. Union budget of india 201516 highlights and analysis clear ias. Union budget of india 201819 highlights and economic survey 2018 highlights pdf quick facts about union budget. Union budget niti aayog and finance commission recommendations. 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. The highlights of taxation related announcements in the annual budget 2015 16 include. Expectation from budget was very high, but budget seems to be highly disappointing. 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 is announced by finance minister arun jaitley today. 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. Finance minister arun jaitley presented the union budget 201516. Finance minister arun jaitley presented the union budget 201516 at the lok sabha on february 28, 2015. Indian budget 201516, click here to read import customs duty and excise duty changes. India hailed as a bright spot amidst a slowing global economy by imf. Fight against the scourge of black money to be taken forward.
Smoking, eating out, air travel to be costlier manufacturing sector neglected. 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. Wealth tax to be completely abolished and replaced by additional 2% cess to be levied on the superrich with income of over rs. Income tax rate cut to 5 pc for individuals having income between rs 2. Finance minsiter arun jaitley introduced union budget 2015 16. Aiming at 78 per cent gross domestic product gdp growth in 34 years. The beginning of the budget printing began on 19 february 2015 with the traditional halwa ceremony. We are bringing you the highlights and key announcements of budget 201516. Taxfree infrastructure bonds for projects in rail, road and irrigation sectors. Roadmap to achieve fiscal deficit of 3% of gdp in three years. Corporate tax rate to be reduced to 25 % from the current level of 30% over the next four years. Experts pointed out that the union budget 201516 fell short of making investments for transmission infrastructure. Highlights of union budget 201516 current affairs today.
Feb 28, 2015 finance minister arun jaitley presented the union budget 2015 16 at the lok sabha on february 28, 2015. Dec 28, 2018 finance minister arun jaitley presented the union budget 2017, his fourth annual budget. 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. 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. 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. 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. Additional fiscal space will go to funding infrastructure investment. Here is a pdf containing all the key highlights in union budget 201516. Highlights of union budget 201516 current affairs today gktoday. Gross domestic product gdp growth of india for 2015 16 projected between 88. Highlights direct tax proposals of union budget 201516. Objectives of tax policy objective of stable taxation policy and a nonadvers arial tax administration. 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. Highlights of the union budget 201516 gross tax receipts of 14.
Rate of corporate tax to be reduced to 25% over next four years. This was the first full year budget of the nda government and the second budget of arun jaitley. It was a budget for corporates as corporate tax reduced from 30% to 25%. Tax benefit on hiring on employees base also widened. 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. Some of the highlights rationalizing tax provisions to effectively tap aifs, reits.
Union budget 201516 page 1 tax deducted at source tax deductedcollected at source f. 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. Finance minister arun jaitley presented the union budget 2017, his fourth annual budget. Need to view public finances from a national perspective and not just the perspective of the central government. Till 2016, it was presented on the last working day of february. Tax free infrastructure bonds for projects in the rail, road and irrigation sectors. Union budget 201516 india, indian union budget 201516.
Fund will try to leverage infrastructure companies. The government presents it on the first day of february so that it could be materialised. Medium term fiscal policy cum fiscal policy strategy statement. The highlights of taxation related announcements in the annual budget 201516 include. 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. The budget documents presented to parliament comprise, besides the finance ministers budget speech, of the following. 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.
Lets look at key highlights of union budget 201516. Fm arunjaitley leaves from his office to present union budget 2015. Indian union budget 201516,make in india highlights. Union budget 201415 india, indian union budget 201415. 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. 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.
Union budget 201415 india, indian union budget 201415, pdf. Income tax calculator new scheme vs old scheme and consent letter for fy 202021. Contribution made in name of girl child will be tax free. 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. 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. Union budget 201516 india, indian union budget 201516, pdf.
A more detailed will be given later this coming week. Corporate tax will be reduced from 30% to 25% along with removal of various types of exemptions from f. 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. Union budget of india 201516 highlights and analysis. Projects in rail road and irrigation bonds will be tax free. The 201516 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. The budget clearly did not disappoint as it gave due importance to all sections of the economy and tried to enhance the easeofdoing business while keeping its focus on infrastructure development. But union budget 201516 marks the beginning of co operative federalism and empowerment of the states. Union finance minister arun jaitley presented union budget 2015 16 in the parliament.
Basic facility of 24x7 power, clean drinking water, a toilet and road connectivity. Indian budget excise duty tariff changes, chapter wise. Additional 2% surcharge for the superrich with income of over rs. Regards team exampundit books for 2015 bankinginsurance exams submit rating average rating 0 5. It also in a way indicates the stance that may be taken by the rbi when. Housing for all 2 crore houses in urban areas and 4 crore houses in rural areas. Finance minsiter arun jaitley introduced union budget 201516. Sukanya samridhhi yojna gets tax free status sukanya samriddhi scheme is a new entrant in the smallsavings schemes category. Taxfree bonds for projects in rail road and irrigation ppp model for infrastructure development. Thirdly, i also intend to permit tax free infrastructure bonds for the projects in the rail.
Gross domestic product gdp growth of india for 201516 projected between 88. Ie photo following are the highlights of the union budget 201516 presented by finance minister arun jaitley in parliament today. Being termed as make or break, this is arun jaitley and the nda governments first fullyear budget. 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. Robust growth achieved despite very unfavourable global conditions and two consecutive years shortfall in. 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. Union budget 201516 summary download pdf bankexamstoday. Union budget of india is referred to as the annual financial statement in the article 112 of the constitution of india. Affirming that the economy is right on track, finance minister arun jaitley presented the union budget for 201617.
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. Arun jaitley this was the first fullfledged budget by the national democratic alliance government. Budget 2015 live india budget news, union budget 201516. Section of act nature of payment in brief cut off amount rate %. Memorandum explaining the provisions in the finance bill, 2015. Get latest updates on live budget news, budget 2014 date, budget highlights, and indian railway budget, income tax. 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. 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. Here are the highlights of jaitleys budget for the fiscal year that begins on april 1. Key features of budget 20152016 274 kb pdf file that opens in a. Download union budget 201516 highlights file in pdf format. 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. Indian budget 201516, central excise duty changes, chapter wise.
Taxfree bonds for projects in rail road and irrigation. Gdp growth in 201516, projected to be between 8 to 8. Amrut mahotsav the year 2022, 75th year of independence vision for team india led by pm. 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. Being termed as make or break, this is arun jaitley and the nda governments first. Tax free infrastructure bonds for the projects in the rail. Macroeconomic framework for the relevant financial year. 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. Union budget 201516 is being presented by finance minister mr.
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