Budget 2015

28Feb

Union Budget 2015-16 India Live: Jaitley lowers corp tax rate, defers GAAR, taxes super rich

12.40: The main focus was on the ease of doing business and Jaitley managed to deliver, says Ashok Wadhwa of Ambit

12.36: Madhu Kela says the Budget is laudable. The clarity for next five years is commendable.

12.28: Transport allowance doubled from Rs 800 to Rs 1600 per month 12.26: Deduction limit for health insurance premium raised to Rs 25000 from Rs 15,000. The same for senior citizens has been raised to Rs 30,000. He also announced an exemption of Rs 50,000 for contribution to pension scheme.

12.25: Although he annouced 100 percent tax deduction for Swachh Bharat and clean Ganga, the FM also said a clean energy cess will be introduced to finance clean energy drive. There will be an enabling provision to levy a Swachch Bharat cess should the need arises.

12.20: The super rich tax, a legacy of the previous government, is back. The FM abolished wealth tax but levied additional 2 percent surcharge on super rich.

12.18: No change in personal income tax slabs.

12.16: GAAR deferred by two years

12.15: Income tax levy on royalty fees for technicals reduced to 10 percent

12.12: Central excise duty to be raised to 12.5 percent.

12.07: As a major boost to industry, Jaitley reduced corporate tax rate to 25 percent from 30 percent earlier for the next 4 years. The FM said he will rationalise & remove exemptions for corporates in the next 4 years.

12.03: The government estimates FY16 total expenditure at Rs 17.77 lakh crore. Of this planned expendiure stands at Rs 4.65 lakh crore and non planned expenditure ar Rs 13.12 lakh crore.

12.00: FY16 defence allocation at Rs 2.46 lakh crore.

11.59: The Budget announced allocation of Rs 33,150 crore towards healthcare.

11.58: In a bid to boost north eastern states, The Union Budget proposed setting up of film institute in Arunachal Pradesh.

11.55: To allocate Rs 75 crore for electric vehicles

11.54: The governemt will do away with distinction between FPIs and FDIs

11.48:To incentivise credit, debit card transactions. Indians will be encouraged to go the RuPay way. The government will introduce made in India gold coins to reduce demand for foreign coins.

11.42: to set up 5 ultra mega power projects of 4,000 mw

11.35: As a major incentive, jaitley proposed tax-free infra bonds for road, railways & infra projects. In the same direction, he announced setting up of national infrastructure fund. The government will introduce regulatory reform law for infrastructure

11.34: To lift infrastructure, expenditure in the sector will go up to Rs 70000 crore. He said road outlays will increase by Rs 14,031 cr in FY16.

11.31: The finance minister said non-banking finance corporations (NBFC) will be treated at par with banks if they have a size of over Rs 500 crore

28Feb

Union Budget 2015-16 India Live: FY16 defence allocation at Rs 2.46 lakh crore

12.03: The government estimates FY16 total expenditure at Rs 17.77 lakh crore. Of this planned expendiure stands at Rs 4.65 lakh crore and non planned expenditure ar Rs 13.12 lakh crore.

12.00: FY16 defence allocation at Rs 2.46 lakh crore.

11.59: The Budget announced allocation of Rs 33,150 crore towards healthcare.

11.58: In a bid to boost north eastern states, The Union Budget proposed setting up of film institute in Arunachal Pradesh.

11.55: To allocate Rs 75 crore for electric vehicles

11.54: The governemt will do away with distinction between FPIs and FDIs

11.48:To incentivise credit, debit card transactions. Indians will be encouraged to go the RuPay way. The government will introduce made in India gold coins to reduce demand for foreign coins.

28Feb

Union Budget 2015-16 India Live: FY16 defence allocation at Rs 2.46 lakh crore.

12.00: FY16 defence allocation at Rs 2.46 lakh crore.

11.59: The Budget announced allocation of Rs 33,150 crore towards healthcare.

11.58: In a bid to boost north eastern states, The Union Budget proposed setting up of film institute in Arunachal Pradesh.

11.55: To allocate Rs 75 crore for electric vehicles

11.54: The governemt will do away with distinction between FPIs and FDIs

11.48:To incentivise credit, debit card transactions. Indians will be encouraged to go the RuPay way. The government will introduce made in India gold coins to reduce demand for foreign coins.

11.42: to set up 5 ultra mega power projects of 4,000 mw

11.35: As a major incentive, jaitley proposed tax-free infra bonds for road, railways & infra projects. In the same direction, he announced setting up of national infrastructure fund. The government will introduce regulatory reform law for infrastructure

11.34: To lift infrastructure, expenditure in the sector will go up to Rs 70000 crore. He said road outlays will increase by Rs 14,031 cr in FY16. 11.31: The finance minister said non-banking finance corporations (NBFC) will be treated at par with banks if they have a size of over Rs 500 crore

11.26: He also proposed Rs 20,000 crore for Mudra Bank to boost SMEs 11.24: Jaitley proposed to allocate Rs 5,300 crore for micro-irrigation, Rs 25,000 crore for rural infrastructure and Rs 34,699 cr for MNREGA. He also proposed Rs 8.5 lakh crore Farm Credit in FY16

11.20: Direct transfer of benefits to be further expanded. Jaitley also mentioned the government is considering scaling up of disinvestment target

11.18: Firm on achieving medium-term fiscal deficit target of 3 percent of GDP. Hoping to achieve fiscal deficit of 3 percent by FY18

11.13: Likely to end FY15 with GDP of 7.4%

11.10: Expect monetary policy easing ahead as CPI inflation will only go lower. Expect CPI to remain close to 5 percent by year-end. Formation of monetary policy committee shortly.

11.07: GST to be in place by April 1, 2016

11.06: Embraced states as equal partners of growth. In a span of 100 days, made Jan Dhan Yojna a success. Swacch Bharat transformed into movement to transform India. Target of building 6 crore toilets. It i a step towards preventive healthcare.

11.03: India 2nd best stock market, current account deficit (CAD) for FY15 to be below 1.3 percent of GDP

11.02: Govt taken several steps to energies the Indian economy

11.01: I present the Budget in a far better economic environment than in the past: Jaitley

11.00: Finance minister Arun Jaitley begins Budget speech. Market up 236 points.

10.53: Cabinet approves Union Budget 2015-16. Finance minister Arun Jaitley to begin speech shortly.

10.43: If the Budget facilitates right incentives, Nilesh Shah of Kotak Mah AMC, thinks that alone can see domestic savings being channelized into stock markets. It will take market higher. If retirement savings are offered incentive schemes, that alone can help a long way. He says market has become quite optimistic post yesterday’s Economic Survey.

10.39: The market is expecting a lot of things including announcement on public spending and planned expenditure. If there is no specific thrust on infrastructure then it may not be taken kindly by the market, says Nirmal Jain.

10.29: The PPP model has to be fairer towards the private sector, says Biocon chief Kiran Shah Mazumdar who believes that is a majot step to seek private sector investments. She hopes to see major announcements with regards to start-ups. 10.24: E&Y chairman Memani says he is looking forward to details on how the government plans to raise funds for its recently announced plans

10.20: Sunil Munjal expects the finance minister to lower exemptions and introduce moderate tax rates. He is also hoping the Budget speech focusses on labour reforms and clariefies on GST.

10.03: Ashok Wadhwa, Group CEO, Ambit Holdings Pvt Ltd believes the finance minister may increasing service tax rate. If concessions are provided to any sector, then the government should not bring legislations through backdoor. He hopes the finance minister is forthrigh enough to paln things for a five year period, and not destroy confidence of investor community by taking back incentives in the form of tax.

28Feb

Union Budget 2015-16 India Update : Expect to see big rhetoric on growth

In an interview, Gautam Chhaochharia of UBS Securities spoke about his expectations of Union Budget 2015. He expects to see a big rhetoric on growth and reforms today and is overweight on financials and consumer discretionaries. According to him, roadmap to bring down tax rates will be seen as big positive.

Chhaochharia believes that fiscal deficit numbers based on credible revenue assumptions to be taken positively.

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