FLIQI UNION BUDGET 2015 – 16 Notes in Hindi & English PDF Download-
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Budget GK Notes free Download (Hindi, English March 2015)
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FliQi UNION BUDGET 2015-16 Update English
FliQi UNION BUDGET 2015-16 Update Hindi
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Some important Points from UNION BUDGET 2015
- After inheriting an economy with sentiments of “doom and gloom” with adverse macroeconomic indicators, nine Months have seen at turn around, making India fastest growing large economy in the World with a GDP growth expected to be 7.4%
- Stock market in 2014 is on the second best performance.
- Budget, Skill-India and tax proposal
- Financial Inclusion – 12.5 crores families financially mainstreamed in 100 days.
- Nirbhaya fund gets Rs. 1,000 crore.
- Swachh Bharat is not only a programmed to improve hygiene and cleanliness but has become a movement to regenerate India.
- Increase in custom duty:
- Metallurgical coke from 2.5 % to 5%.
- Artificial heart exempt from basic custom duty of 5% and CVD.
- Tariff rate on iron and steel and articles of iron and steel increased from 10% to 15%.
- Tariff rate on commercial vehicle increased from 10 % to 40%.
- Basic custom duty on digital still image video camera with certain specification reduced to nil.
- Service-tax to be levied on service provided by way of access to amusement facility, entertainment events or concerts, pageants, non recognized sporting events etc.
- Most provisions of Direct Taxes Code have already been included in the Income-tax Act,
- Direct tax proposals to result in revenue loss of ` 8315 crore, whereas the proposals in indirect taxes are expected to yield ` 23383 crore. Thus, the net impact of all tax proposals would be revenue gain of `15068 crore.
- Yoga to be included within the ambit of charitable purpose under Section 2(15) of the Income-tax Act.
- To mitigate the problem being faced by many genuine charitable institutions, it is proposed to modify the ceiling on receipts from activities in the nature of trade, commerce or business to 20% of the total receipts from the existing ceiling of 25 Lac.
- Service Tax exemption extended to certain pre cold storage services in relation to fruits and vegetables so as to incentivise value addition in crucial sector.
- Payments to the beneficiaries including interest payment on deposit in Sukanya Samriddhi scheme to be fully exempt.
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