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4/11/2015

Drishti IAS Current Affairs ­ General Budget 2015­16

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4/11/2015 Drishti IAS Current Affairs ­ General Budget 2015­16 Hindi Call US on : (+91)8130392356­54­59­57­58­60 or Home Free Study Materials IAS Test Series Contact Us About CSE About Us Courses Batches Career Forum FAQ's Blog Drishti IAS Online Test Series 2015 Click to Start RBI Keeps Rates Unchanged More Air Pollution: NGT Bans Diesel Vehicles Older than 10 Years in Delhi Social Progress Index­2015: India Ranked 101 TRAI Recommends 112 as Single Emergency Number Pradhan Mantri Mudra Yojna Launched for Small Business Units FTP Proposes New Institutions to Boost Global Trade Large Hadron Collider Resumes its Work Again UK Launches Crackdown on Illegal Immigrants Missile Defence Shield for Delhi & Mumbai Law Commission Submits its Report on Leprosy Laws Current Affairs ► UPSC Online ► UPSC Books ► UPSC IAS Select Language Key Features : Hits: 1273 ► Budget ​ Pradhan Mantri Suraksha Bima Yojana to cover Accidental Death Risk of Rs. 2 lakh for just Rs. 12 per year premium You are here › Current Affairs General Budget 2015­16 Mar 01, 2015 On 28th February, Union Finance Minister Arun Jaitely presented the Budger for 2015­16. Presenting the budget he announced the budget aimed at high growth and to boost investment and ensure that ordinary people benefit. He said Budget 2015­16 marks the beginning of co­operative federalism and empowerment of the states. The total expenditure has been estimated at Rs 17,77,477 crore Estimates of Plan expenditure at Rs 4,65,277 crore Non­Plan expenditure estimates at Rs 13,12,200 8 centrally sponsored schemes delinked from support of the centre 24 schemes to be run with the changed sharing pattern while 31 schemes will get full support of the centre Micro Units Development Refinance Agency (MUDRA) Bank to Refinance Micro Finance Institutions Atal Pension Yojana for Defined Pension, Government to contribute 50% of the premium Pradhan Mantri Jeevan Jyoti Bima Yojana to cover both natural and accidental death risk Proposal to create Senior Citizen Welfare Fund National Investment & Infrastructure Fund to ensure an annual flow of 20,000 crores to it Task Force to establish a Sector Neutral Financial Redressal Agency to be set up Tax Free Infrastructure Bonds for projects in rail, road and irrigation sectors SETU (Self­Employment & Talent Utilisation) Mechanism to support start­up businesses 5 New Ultra Mega Power Projects to be set up Gold Monetisation Scheme to replace present Gold Deposit and Gold Metal Loan Schemes Sovereign Gold Bond, as an alternative to purchasing metal gold. New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts. Atal Innovation Mission (AIM) to be set up Public Debt Management Agency (PDMA) to be set up National Skills Mission will be launched soon Student Financial Aid Authority to administer scholarships and educational loan schemes for poor students http://www.drishtiias.com/upsc­current­affairs­article­General­Budget­2015­16 1/4 " id="pdf-obj-0-12" src="pdf-obj-0-12.jpg">

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4/11/2015 Drishti IAS Current Affairs ­ General Budget 2015­16 Hindi Call US on : (+91)8130392356­54­59­57­58­60 or Home Free Study Materials IAS Test Series Contact Us About CSE About Us Courses Batches Career Forum FAQ's Blog Drishti IAS Online Test Series 2015 Click to Start RBI Keeps Rates Unchanged More Air Pollution: NGT Bans Diesel Vehicles Older than 10 Years in Delhi Social Progress Index­2015: India Ranked 101 TRAI Recommends 112 as Single Emergency Number Pradhan Mantri Mudra Yojna Launched for Small Business Units FTP Proposes New Institutions to Boost Global Trade Large Hadron Collider Resumes its Work Again UK Launches Crackdown on Illegal Immigrants Missile Defence Shield for Delhi & Mumbai Law Commission Submits its Report on Leprosy Laws Current Affairs ► UPSC Online ► UPSC Books ► UPSC IAS Select Language Key Features : Hits: 1273 ► Budget ​ Pradhan Mantri Suraksha Bima Yojana to cover Accidental Death Risk of Rs. 2 lakh for just Rs. 12 per year premium You are here › Current Affairs General Budget 2015­16 Mar 01, 2015 On 28th February, Union Finance Minister Arun Jaitely presented the Budger for 2015­16. Presenting the budget he announced the budget aimed at high growth and to boost investment and ensure that ordinary people benefit. He said Budget 2015­16 marks the beginning of co­operative federalism and empowerment of the states. The total expenditure has been estimated at Rs 17,77,477 crore Estimates of Plan expenditure at Rs 4,65,277 crore Non­Plan expenditure estimates at Rs 13,12,200 8 centrally sponsored schemes delinked from support of the centre 24 schemes to be run with the changed sharing pattern while 31 schemes will get full support of the centre Micro Units Development Refinance Agency (MUDRA) Bank to Refinance Micro Finance Institutions Atal Pension Yojana for Defined Pension, Government to contribute 50% of the premium Pradhan Mantri Jeevan Jyoti Bima Yojana to cover both natural and accidental death risk Proposal to create Senior Citizen Welfare Fund National Investment & Infrastructure Fund to ensure an annual flow of 20,000 crores to it Task Force to establish a Sector Neutral Financial Redressal Agency to be set up Tax Free Infrastructure Bonds for projects in rail, road and irrigation sectors SETU (Self­Employment & Talent Utilisation) Mechanism to support start­up businesses 5 New Ultra Mega Power Projects to be set up Gold Monetisation Scheme to replace present Gold Deposit and Gold Metal Loan Schemes Sovereign Gold Bond, as an alternative to purchasing metal gold. New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts. Atal Innovation Mission (AIM) to be set up Public Debt Management Agency (PDMA) to be set up National Skills Mission will be launched soon Student Financial Aid Authority to administer scholarships and educational loan schemes for poor students http://www.drishtiias.com/upsc­current­affairs­article­General­Budget­2015­16 1/4 " id="pdf-obj-0-21" src="pdf-obj-0-21.jpg">
4/11/2015 Drishti IAS Current Affairs ­ General Budget 2015­16 Hindi Call US on : (+91)8130392356­54­59­57­58­60 or Home Free Study Materials IAS Test Series Contact Us About CSE About Us Courses Batches Career Forum FAQ's Blog Drishti IAS Online Test Series 2015 Click to Start RBI Keeps Rates Unchanged More Air Pollution: NGT Bans Diesel Vehicles Older than 10 Years in Delhi Social Progress Index­2015: India Ranked 101 TRAI Recommends 112 as Single Emergency Number Pradhan Mantri Mudra Yojna Launched for Small Business Units FTP Proposes New Institutions to Boost Global Trade Large Hadron Collider Resumes its Work Again UK Launches Crackdown on Illegal Immigrants Missile Defence Shield for Delhi & Mumbai Law Commission Submits its Report on Leprosy Laws Current Affairs ► UPSC Online ► UPSC Books ► UPSC IAS Select Language Key Features : Hits: 1273 ► Budget ​ Pradhan Mantri Suraksha Bima Yojana to cover Accidental Death Risk of Rs. 2 lakh for just Rs. 12 per year premium You are here › Current Affairs General Budget 2015­16 Mar 01, 2015 On 28th February, Union Finance Minister Arun Jaitely presented the Budger for 2015­16. Presenting the budget he announced the budget aimed at high growth and to boost investment and ensure that ordinary people benefit. He said Budget 2015­16 marks the beginning of co­operative federalism and empowerment of the states. The total expenditure has been estimated at Rs 17,77,477 crore Estimates of Plan expenditure at Rs 4,65,277 crore Non­Plan expenditure estimates at Rs 13,12,200 8 centrally sponsored schemes delinked from support of the centre 24 schemes to be run with the changed sharing pattern while 31 schemes will get full support of the centre Micro Units Development Refinance Agency (MUDRA) Bank to Refinance Micro Finance Institutions Atal Pension Yojana for Defined Pension, Government to contribute 50% of the premium Pradhan Mantri Jeevan Jyoti Bima Yojana to cover both natural and accidental death risk Proposal to create Senior Citizen Welfare Fund National Investment & Infrastructure Fund to ensure an annual flow of 20,000 crores to it Task Force to establish a Sector Neutral Financial Redressal Agency to be set up Tax Free Infrastructure Bonds for projects in rail, road and irrigation sectors SETU (Self­Employment & Talent Utilisation) Mechanism to support start­up businesses 5 New Ultra Mega Power Projects to be set up Gold Monetisation Scheme to replace present Gold Deposit and Gold Metal Loan Schemes Sovereign Gold Bond, as an alternative to purchasing metal gold. New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts. Atal Innovation Mission (AIM) to be set up Public Debt Management Agency (PDMA) to be set up National Skills Mission will be launched soon Student Financial Aid Authority to administer scholarships and educational loan schemes for poor students http://www.drishtiias.com/upsc­current­affairs­article­General­Budget­2015­16 1/4 " id="pdf-obj-0-23" src="pdf-obj-0-23.jpg">
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Pradhan Mantri Suraksha Bima Yojana to cover Accidental Death Risk of Rs. 2 lakh for just Rs. 12 per year premium

You are here › Current Affairs
You are here › Current Affairs

General Budget 2015­16

Mar 01, 2015

You are here › Current Affairs General Budget 2015­16 Mar 01, 2015 On 28th February, Union

On 28th February, Union Finance Minister Arun Jaitely presented the Budger for 2015­16. Presenting the budget he announced the budget aimed at high growth and to boost investment and ensure that ordinary people benefit. He said Budget 2015­16 marks the beginning of co­operative federalism and empowerment of the states.

The total expenditure has been estimated at Rs 17,77,477 crore Estimates of Plan expenditure at Rs 4,65,277 crore Non­Plan expenditure estimates at Rs 13,12,200 8 centrally sponsored schemes delinked from support of the centre

24 schemes to be run with the changed sharing pattern while 31 schemes will get full support of the centre

Micro Units Development Refinance Agency (MUDRA) Bank to Refinance Micro Finance Institutions

Atal Pension Yojana for Defined Pension, Government to contribute 50% of the premium Pradhan Mantri Jeevan Jyoti Bima Yojana to cover both natural and accidental death risk Proposal to create Senior Citizen Welfare Fund National Investment & Infrastructure Fund to ensure an annual flow of 20,000 crores to it Task Force to establish a Sector Neutral Financial Redressal Agency to be set up Tax Free Infrastructure Bonds for projects in rail, road and irrigation sectors SETU (Self­Employment & Talent Utilisation) Mechanism to support start­up businesses 5 New Ultra Mega Power Projects to be set up Gold Monetisation Scheme to replace present Gold Deposit and Gold Metal Loan Schemes Sovereign Gold Bond, as an alternative to purchasing metal gold.

New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts.

Atal Innovation Mission (AIM) to be set up

Public Debt Management Agency (PDMA) to be set up

National Skills Mission will be launched soon

Student Financial Aid Authority to administer scholarships and educational loan schemes for poor students

4/11/2015

Drishti IAS Current Affairs ­ General Budget 2015­16

Integrated education and livelihood scheme Nai Manzil will be launched for minorities Pradhan Mantri Gram Sinchai Yojana to provide ‘Per Drop More Crop’ Paramparagat Krishi Vikas Yojna to be fully supported Postal network spread across the country to be used for increasing access to formal financial system Job creation through revival of growth and investment and promotion of domestic manufacturing and Make in India. Deferment of the General Anti Avoidance Rule (GAAR) by two years to accelerate the momentum of investment sentiment in the country Employees under the Employees Provident Fund (EPF) to be provided two options—1. May opt for EPF or the New Pension Scheme (NPS). 2. For employees below a certain threshold of monthly income, contribution to EPF should be optional, without affecting or reducing the employer’s contribution. Forwards Markets Commission to be merged with SEBI 5 New Ultra­Mega Power Projects to be set up Main Budget Allocations :

Rs. 2,46,727 crore for Defence; an increase of 9.87 per cent over last year Rs. 8.5 lakh crore for Farmers Credit Rs. 33,152 crore to the Health Sector Rs. 79,526 crore for Rural Development Activities including MGNREGA (34699 crore) Rs. 68968 crore Education sector allocated Rs. 79526 Crore for Rural Development Rs. 25000 crore for Rural Development Fund. Rs. 68,968 crore for Education Sector including Mid­day Meals Rs. 22,407 crore for Housing and Urban Development Rs. 10,351 crore for Women and Child Development Rs. 4,173 crore for Water Resources and Namami Gange Rs. 1000 for Nirbhaya Fund Rs. 5,300 crore for Micro Irrigation Programme. Rs. 70,000 crores for Infrastructure Sector Rs. 9000 crore unclaimed funds in PPF/EPF for will be used for Senior Citizens Fund Taxation The Service Tax rate is being increased from 12% plus Education Cesses to 14% No change in the rate of personal income­tax and the rate of tax for companies on income in financial year 2015­16 Limit on deduction on account of contribution to a pension fund and the new pension scheme is proposed to be increased from Rs 1 lakh to Rs 1.5 lakh. Increase in the limit of reduction of health insurance premium from Rs 15,000 to Rs

25,000

All contributions to Sukanya Samridhi scheme to be tax free Swachh Bharat Cess will be levied on all or certain taxable services at a rate of 2% Eligible donations to Swachh Bharat Kosh and Clean Ganga Fund to be 100% deductible Scheduled rate of Clean Energy Cess levied on coal lignite and peat is being increased form Rs. 100 per ton to Rs. 300 per ton Concessional customs and excise duty rates on specified parts of Electrically Operated

4/11/2015

Drishti IAS Current Affairs ­ General Budget 2015­16

Vehicles and Hybrid Vehicles is being extended up to 31 March 2016 Wealth Tax abolished; replaced with additional 2% surcharge on super rich Corporate tax will be reduced from 30% to 25% over next four years Quoting PAN made mandatory for any sale exceeding Rs. 1 lakh Health insurance premium exemption raised to Rs. 25,000 from Rs. 15,000

The Finance Minister counted five major challenges faced by the Indian economy which are agricultural income under stress, weak private sector investment in infrastructure, decline in manufacturing, resource crunch in view of higher devolution in taxes to states and maintaining fiscal discipline.

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Drishti IAS Current Affairs ­ General Budget 2015­16

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