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Saturday, February 28, 2015

Budget 2015: Key Highlights

Digest News Letter - Times of India
THE TIMES OF INDIA
Saturday, February 28, 2015
Budget 2015: Key Highlights

Budget: Concessions for individual taxpayers
Not changing the income tax rates or increasing the exemption limits for individuals, union Finance Minister Arun Jaitley Saturday proposed increasing the range of tax deductible investments/ spend.

Cheaper vs Dearer: Here's the list
Finance minister Arun Jaitley presented the first General Budget of Prime Minister Narendra Modi's government on Saturday. The various measures announced by the finance minister has resulted in hike in prices of some commodities and reduction in some.

Highlights of Union Budget 2015-16
Finance minister Arun Jaitley presented the first full-year Budget of Prime Minister Narendra Modi's government on Saturday.

India to introduce gold deposit accounts, no mention of import duty
India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign bond as an alternative to buying the metal, moves that are likely to cut imports into the biggest gold consumer.

Wealth tax abolished; extra 2% surcharge on super rich
Asking rich and wealthy to pay higher tax, Finance Minister Arun Jaitley today abolished the wealth tax but increased the surcharge to 12 per cent on individuals earning Rs 1 crore and above annually and on firms with an annual income of Rs 10 crore or more.

Black money: 6 months for voluntary disclosure?
Finance minister Arun Jaitely proposed to enact a comprehensive law to bring back black money stashed abroad.

Govt unveils universal social security schemes
Finance minister Arun Jaitley on Saturday announced a slew of low-cost pension and insurance schemes, including Atal Pension Yojana and Universal Social Security scheme.

Govt announces loan scheme for higher education
Finance minister Arun Jaitley on Saturday announced loan scheme for higher education. In his budget speech, Jaitley said, "We will set up an educational loan scheme for higher education."

Govt allocates Rs 2,46,727cr to defence
Finance minister Arun Jaitley, who presented the Union Budget for fiscal 2015-16 in the Lok Sabha said that the Prime Minister Narendra Modi-led government would allocate Rs 2, 46, 727 crore in the defence sector.

India sets fiscal deficit target at 3.9% of GDP
Finance Minister Arun Jaitley set the country's fiscal deficit target for the 2015/16 fiscal year at 3.9 percent of gross domestic product and said it would reduce the target gradually to 3 percent by 2017/18, one year later than previously expected.

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