| Author | Message | ||
     Sbk2012 Side Hero Username: Sbk2012 Post Number: 3981 Registered: 01-2014 Posted From: 216.31.211.11 Rating: N/A |
GROWTH * GDP growth seen at between 8 percent and 8.5 percent y/y * Nominal economic growth seen between 11 and 12 percent * Aiming double digit growth rate, achievable soon | ||
| Sbk2012 Side Hero Username: Sbk2012 Post Number: 3980 Registered: 01-2014 Posted From: 216.31.211.11 Rating: N/A |
EXPENDITURE * Plan expenditure estimated at about 4.65 trillion rupees * Non-plan expenditure seen at about 13.12 trillion rupees * Allocates 2.46 trillion rupees for defence spending * Allocates 331.5 billion rupees for health sector * If revenue improves, hope to raise budgeted allocations for rural job scheme by 50 billion rupees | ||
| Sbk2012 Side Hero Username: Sbk2012 Post Number: 3978 Registered: 01-2014 Posted From: 216.31.211.11 Rating: N/A |
INFRASTRUCTURE * Investment in infrastructure will go up by 700 bln rupees in 2015/16 over last year * Plans to set up national investment infrastructure fund * Proposes tax-free infrastructure bonds for projects in roads, rail and irrigation projects * Proposes 5 "ultra mega" power projects for 4,000 MW each * Second unit of Kudankulam nuclear power station to be commissioned * Will need to build additional 100,000 km of road * Ports in public sector will be encouraged to corporatise under Companies Act | ||
| Abcdefghij Hero Username: Abcdefghij Post Number: 15462 Registered: 02-2007 Posted From: 99.59.193.29 Rating: N/A |
aa mukka edo jaggadu cheppochu gaa akkada rahul missing ikkada jaggad missing papam fans ki kastalu  http://gallery.greatandhra.com/upload/8563/images/_211398452008.jpg | ||
| Sbk2012 Side Hero Username: Sbk2012 Post Number: 3977 Registered: 01-2014 Posted From: 216.31.211.11 Rating: N/A |
TAXATION * To abolish wealth tax * Replaces wealth tax with additional 2 pct surcharge on super rich * Proposes to cut to 25 percent corporate tax over next four years * Corporate tax of 30 percent is uncompetitive * Net gain from tax proposals seen at 150.68 billion rupees * Jaitley proposes modification of permanent establishment norms so that the mere presence of a fund manager in India would not constitute a permanent establishment of the offshore fund, resulting in adverse tax consequences. * Proposes to rationalise capital gains tax regime for real estate investment trusts * Extends withholding tax concession on foreign debt purchases by two years * Expects to implement goods and services tax by April 2016 * To reduce custom duty on 22 items * Basic custom duty on commercial vehicle doubled to 20 percent * Proposes to increase service tax rate and education cess to 14 percent from 12.36 percent * Plans to introduce direct tax regime that is internationally competitive on rates without exemptions * Exemptions for individual tax payers to continue * To enact tough penalties for tax evasion in new bill * Tax dept to clarify indirect transfer of assets and dividend paid by foreign firms PERSONAL INCOME TAX * No revision of income tax brackets * Limit of deduction of health insurance premium increased to 25,000 rupees from 15,000 rupees; limit increased to 30,000 rupees from 20,000 rupees for the elderly * People aged above 80 and not covered by health insurance to be allowed deduction of 30,000 rupees for medical expenses * Additional deduction of 25,000 rupees for the disabled * Limit on deduction for contributions to pension fund and new pension scheme increased to 150,000 rupees from 100,000 rupees * Additional deduction of 50,000 rupees for contribution to new pension scheme under section 80CCD * Monthly transport allowance exemption doubled to 1,600 rupees |
