CURRENT UPDATE : UNION BUDGET 2016 -17

1.	Finance Minister Arun Jaitley presents Union Budget for 2016-17 Highlights are:
2.	Concealed Income Disclosure Scheme from June 1 to September 30
3.	Higher allocation for agriculture, infrastructure and social sectors.
4.	No change in Income Tax rates; Relief to small tax payers up to Rs 5 lakh; Surcharge hiked from 12 to 15 percent above the income of Rs 1 crore ; Divi
5.	Cars, branded garments, air travel, aerated drinks, cigarettes to cost more
6.	Electronic items, paper, solar lamps and footwear to be cheaper.
7.	Sovereign gold bonds and Gold monetization to get tax benefit.
8.	Half percent Krishi Kalyan Cess on Service Tax to promote agriculture.; Interest subvention to farmers continue.
9.	Incentives to affordable housing and new home buyers.
10.	Upto 49 per cent FDI allowed in insurance and pension sectors.
11.	Fiscal deficit pegged at 3.5 percent.
12.	Electronic items, Electric Motors, equipment, machinery to cost less: FM
13.	Industrial Solar Heater, imitation jewellery, balloons to cost more: FM
14.	Paper, Paper Board, Footwear to cost less: FM
15.	Overhauling of aircraft and ship repair to become cheaper: FM
16.	Iron and aluminium to cost less: FM
17.	PM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be opened : FM
18.	Rs 9000 cr allocated for Swachh Bharat Mission : FM
19.	Health Insurance Scheme being launched to protect one third of India’s population against hospitalisation expenditure
20.	National Dialysis Services Programme’ under National Health Mission to provide dialysis services in district hospitals
21.	The growth of GDP has accelerated to 7.6% :Jaitley
22.	CPI inflation came down 5.4%: Jaitley
23.	Indian economy bright spot amid global economic slowdown: Jaitley
24.	To give statutory backing for monetary policy RBI Act will be amended : FM
25.	Rs 25,000 crore for recapitalization of public sector banks: FM
26.	Amount sanctioned under PM MudraYojana has reached Rs.1 lakh crore to cover 2.5 crore borrowers by Feb, 2016: FM
27.	New Financial Data Management Centre to facilitate integrated data analysis: FM
28.	100% FDI to be allowed through FIPB route in Food Products Produced and Marketed in India: FM
29.	Massive nationwide rollout of ATMs, Micro ATMs in post Offices in next three yrs especially in rural areas: FM
30.	FM proposes allocation of Rs.25,000 crore for recapitalization of public sector banks

TO KNOW MORE DETAILS OF UNION BUDGET 2016 -17 CLICK  THE FOLLOWING LINKS

1. BUDGET SPEECH

2. BUDGET HIGHLIGHTS

3.   BUDGET AT GLANCE

4. BUDGET 2016 - 17 (FULL DETAILS)


TO KNOW MORE THE ECONOMIC SURVEY 2015- 16 CLICK THE BELOW LINK

ECONOMIC SURVEY 2015-16