Budget 2015 Live : Govt taken several steps to energies the Indian economy
12.07: As a major boost to industry, Jaitley reduced corporate tax rate to 25 percent for the next 4 years.
12.03: The government estimates FY16 total expenditure at Rs 17.77 lakh crore. Of this planned expendiure stands at Rs 4.65 lakh crore and non planned expenditure ar Rs 13.12 lakh crore.
12.00: FY16 defence allocation at Rs 2.46 lakh crore.
11.59: The Budget announced allocation of Rs 33,150 crore towards healthcare.
11.58: In a bid to boost north eastern states, The Union Budget proposed setting up of film institute in Arunachal Pradesh.
11.55: To allocate Rs 75 crore for electric vehicles
11.54: The governemt will do away with distinction between FPIs and FDIs
11.48:To incentivise credit, debit card transactions. Indians will be encouraged to go the RuPay way. The government will introduce made in India gold coins to reduce demand for foreign coins
11.42: to set up 5 ultra mega power projects of 4,000 mw.
11.35: As a major incentive, jaitley proposes tax-free infra bonds for road, railways & infra projects
11.34: To lift infrastructure, expenditure in the sector will go up to Rs 70000 crore. He said road outlays will increase by Rs 14,031 cr in FY16.
11.31: The finance minister said non-banking finance corporations (NBFC) will be treated at par with banks if they have a size of over Rs 500 crore.
11.26: He also proposed Rs 20,000 crore for Mudra Bank to boost SMEs
11.24: Jaitley proposed to allocate Rs 5,300 crore for micro-irrigation, Rs 25,000 crore for rural infrastructure and Rs 34,699 cr for MNREGA. He also proposed Rs 8.5 lakh crore Farm Credit in FY16
11.20: Direct transfer of benefits to be further expanded. Jaitley also mentioned the government is considering scaling up of disinvestment target
11.18: Firm on achieving medium-term fiscal deficit target of 3 percent of GDP. Hoping to achieve fiscal deficit of 3 percent by FY18
11.13: Likely to end FY15 with GDP of 7.4%
11.10: Expect monetary policy easing ahead as CPI inflation will only go lower. Expect CPI to remain close to 5 percent by year-end. Formation of monetary policy committee shortly.
11.07: GST to be in place by April 1, 2016
11.06: Embraced states as equal partners of growth. In a span of 100 days, made Jan Dhan Yojna a success. Swacch Bharat transformed into movement to transform India. Target of building 6 crore toilets. It i a step towards preventive healthcare.
11.03: India 2nd best stock market, current account deficit (CAD) for FY15 to be below 1.3 percent of GDP
11.02: Govt taken several steps to energies the Indian economy
11.01: I present the Budget in a far better economic environment than in the past: Jaitley
11.00: Finance minister Arun Jaitley begins Budget speech. Market up 236 points.
