Budget 2016-17

Budget 2016-2017: Jaitley says we need to think beyond food security to income security

12:53 19,610 cr of net revenue gain from direct & indirect taxes: FM

12:41 High-level Committee Chaired By Rev Secy To Allay Fears Of Retro Tax: FM

12:41 Corp tax to be cut to 29% from FY18 for cos with turnover less than ‘5 cr: FM

12:40 Creating 11 new benches of Indirect Tax tribunal: FM

12:40 Propose to rationalise norms for tax deducted at source: FM

12:40 Dividend Tax rate of 10% for individuals/HUF if dividend in excess of 10 lk/annum: FM

12:38 Propose to abolish 14 different cesses levied by ministers: FM

12:36 Skill development reforms to boost MII: FM

12:35 To lower penalty to 50% of tax in case of under-reporting of income: FM

12:33 Propose 1-time Scheme w.r.t Dispute Resolution Provided Case Withdrawn: FM

12:32 STT increase in options: FM

12:32 Tax of 10% in the hands of dividend recipients above 10 lk: FM

12:31 Propose New Dispute Resolution Scheme: FM

12:31 Offering limited period compliance window for undisclosed income: FM

12:30 Voluntary disclosure of income for blackmoney: FM

12:30 To raise excise duty on most tobacco products by 10-15%: FM

12:29 Clean energy cess for coal Rs 400/ tonne: FM

12:29 To levy 1% infra cess on small gasoline cars: FM

12:27 Increase limit for rent paid: FM

12:27 Deduction amount under 80GG increased from 24,000 pa to 60,000 pa: FM

12:26 Deduction to rent payers under 80 GG increased from Rs 24k cr to 60k cr: FM

12:26 Benefits of research will be 150% by 1st April 2017 and 100% by 1st April 2020: FM

12:25 Lower corporate tax rates from co with Rev under Rs 5cr to 29% + surcharge + cess: FM

12:25 First home buyers an additional deduction of interest of 50,000 provided value of house does not exceed Rs 50 lakh: FM

12:23 Tax exempt 40% of withdrawal from NPS at retirement: FM

12:23 Propose 100% deduction to undertakings for construction of affordable housing: FM

12:23 DDT exempted from REITs: FM

12:21 Propose to make some changes in customs, excise duty rates: FM

12:19 Propose to implement GAAR from April 1, 2017: FM

12:19 Propose complete passthrough of IT to trusts of ARCs: FM

12:19 New cos will not be allowed to seek any exemption: FM

12:18 LTCG period for unlisted companied reduced to 2 years: FM

12:17 New mfg cos after March 1, 2016 to be taxed at 25% plus cess+surcharge: FM

12:16 Accelerated depreciation limited for R&D to 150% from FY18: FM

12:16 Accelerated depreciation limited to 40% from FY18: FM

12:15 Number of measures will be undertaken to deepen corporate bond market: FM

12:15 Raise personal I-T house rent exemption to 60,000 from 24,000/yr: FM

12:15 To enable non institutional investors to invest in ARCs: FM

12:14 Turnover limit of 2 cr for SMEs: FM

12:14 Department of Disinvestment to be renamed as Department of Investment and Public Asset Management: FM

12:14 Govt stands firmly behind public sector banks: FM

12:13 Will undertake massive nationwide of ATMs in the next 3 years: FM

12:13 To propose introduction of DBT in fertilizer on pilot basis: FM

12:12 Total resources allocated to states 99681 cr more than 2015-16 RE: FM

12:10 To do away with plan & non-plan classification from FY18: FM

12:10 2.5% revenue deficit target for FY16 vs budgeted est of 2.8%: FM

12:09 Committee To Review FRBM: FM

12:08 Non-plan classification from FY18: FM

12:06 Non-plan expenditure at ‘14.28 lk cr: FM

12:05 15.3% increase in plan expenditure to to Rs 5.5 lk crore: FM

12:04 FY17 fiscal deficit target at 3.5%: FM

12:04 To adhere to fiscal deficit target: FM

12:01 Aadhaar bill to be introduced in current session of parliament: FM

12:00 Govt has option to reduce stake in IDBI below 50%: FM

11:59 Amend SEBI act to increase benches in SAT: FM

11:59 25,000 cr for bank recap: FM

11:58 Comprehensive framework to deal with CIS schemes: FM

11:58 100% FDI through FIPB route in marketing of food products marketing will be allowed: FM

11:58 To announce 3 initiatives in reinvigorate pvt sector: FM

11:58 SEBI to bring new derivative pdts for commodity markets: FM

11:57 Govt to open up the road transport sector in the passenger segment: FM

11:56 Abolition of permit raj to be our medium term goal: FM

11:56 Approve 10K Km of National Highways in FY17: FM

11:55 RBI act to be amended to provide framework for monetary policy code: FM

11:55 Bankruptcy code to be introduced in parliament in FY17: FM

11:54 Total investment in road sector at 97000 cr in FY17: FM

11:53 Encourage CPSEs to divest non-core assets like land etc: FM

11:53 Propose further FDI reforms for stock exchanges, ins, pension: FM

11:52 Duty drawback schemes to be widened: FM

11:52 Propose 31,300 cr of infra bonds to be issued by various agencies: FM

11:52 To issue guidelines for renegotiation of PPP contracts: FM

11:51 To introduce public utility resolution bill: FM

11:50 Calibrated market prices for gas based on landed price of alt fuels: FM

11:50 Propose to develop 10 of 25 non-functional airstrips: FM

11:50 To incentivise gas production from deep sea & ultra deep waters: FM

11:49 To partner state govts to rejuvenate regional airports: FM

11:47 To amend motor vehicle act to open up road passenger sector: FM

11:46 Necessary amendments to open up road transport for passenger seg: FM

11:44 Allocate 55,000 cr for roads highways; excl 15,000 cr nhai bonds: FM

11:42 Need to derive greater benefit from demographic advantage: FM

11:42 Launching 2 schemes to promote digital literacy: FM

11:41 To pay 8.33% for new employees towards EPFO contribution for 3 years: FM

11:41 75 lk households have voluntarily given up cooking gas subsidy: FM

11:40 3000 Stores For Generic Drugs Will Be Opened In FY17: FM

11:33 Must rely on domestic demand since foreign mkts are weak: FM

11:32 Allocate ‘2,000 cr for initial cost of LPG connection to women members: FM

11:32 Mission to provide LPG gas connection to women household members: FM

11:31 Embark on a mission to give LPG connection to women in poor households: FM

11:30 Looking at reforming dispute redressal mechanism in PPP projects: FM

11:30 Propose 87,765cr for rural dvpt in FY17: FM

11:30 28.5 lk hectares to be brought under PM’s Krishi Sinchai Yojana: FM

11:29 89 irrigation projects will be fast tracked: FM

11:28 368 cr provided for National soil health and fertility program: FM

11:28 Allocate 9,000cr towards Swachh Bharat Mission: FM

11:28 Govt committed to achieve 100% village electrification by May 1, 2018: FM

11:27 Krishi Vikas Yojana will bring 5lk acres under organic farming: FM

11:27 12 states have already amended their APMC acts: FM

11:26 38,500 Cr allocation to MNREGA: FM 

11:25 Urgent need to focus on areas rural distress: FM 

11:24 Propose ‘2.87 lakh cr as grants to rural local bodies in FY17: FM 

11:24 ‘2.87 lac cr to be given as grants to aid gram panchayats: FM 

11:23 Propose ‘5,500 cr for crop insurance scheme for FY17: FM 

11:23 4 new schemes to enhance dairy farming in india at ‘850 cr: FM 

11:23 To implement online procurement system under Food Corp of India: FM 

11:22 Target of agri credit at all-time high of ‘9 lakh cr: FM 

11:22 ‘15,000 cr to be allocated for interest subvention for agri loans: FM 

11:20 Sadak Yojana allocation at ‘19,000 Cr for FY17: FM 

11:19 Unified agri mkt scheme to enhance farmer access to markets: FM 

11:19 To set up e-platform to enhance farmer access to markets: FM 

11:18 Propose to spend ‘86,500 Cr on irrigation projs in 5 years: FM 

11:17 Allocation for AIBP at ‘17,000 Cr for FY17: FM 

11:17 Create new infra for irrigation, value addn to farm-mkt connectivity: FM

11:17 Have to give farmers income security, aim to double farmer income: FM 

11:16 Allocation to farming sector at ‘35,984 Cr: FM 

11:16 Proposed to double farmers’ income in 5 years: FM 

11:16 Propose to tax reforms to reduce compliance burden: FM 

11:15 Budget focus on infra & enhancing quality of life: FM 

11:14 To enact law to give statutory backing to Aadhaar: FM

11:14 Focus on social sector especially health care, education & skill dvpt: FM 

11:14 Will pursue implementation of GST, reform measures pending before parliament: FM 

11:13 Budget focus on tax reforms to reduce burden of compliance: FM 

11:13 Budget to focus on rural employment & infrastructure: FM 

11:13 Focus to pass GST, bankruptcy code: FM 

11:12 Will Give Statuatory Backing To Aadhar Platform: FM 

11:12 Priority To Provide Addl Resource To Vulnerable Sections In Rural Areas: FM 

11:11 Will Focus On Areas Of Utmost Importance To Govt: FM 

11:11 Will focus on areas of utmost importance to govt: FM


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