Union Budget Expectations
Union Budget Expectations are that Finance Minister Arun Jaitley Corporate tax Cut to 29%. Government of India is also thinking to unveil the Road Maps. Even officials have think about the agriculture in India and many plans going to avail to help farmers in what way they can help. They are also going to Leveraging the assets of LIC. Union Budget in Hindi all updates are provided in detailed. In finmin.nic.in officials will give Union Budget 2016 -17 PDF. All may download Budget 2016 Income Tax Exemption. Even in our site you people can get all highlights and important news regarding General Budget India.
General Budget Highlights:
For tax payers earning below Rs 5 lakh, ceiling on tax rebate has been increased by Rs 3,000.
FM also provided relief to those living in rented houses by raising the HRA deduction from Rs 24,000 to Rs 60,000 under Section 88G.
Jaitley also announced a new health protection scheme with health cover up to Rs 1 lakh per family .
Houses built under 60 square metres are omitted from paying service tax.
1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.
Aadhaar bill will be introduced in this session of Parliament. Aadhar will accurately target beneficiaries,DBT on pilot district for fertilizer, said Jaitley
Motor Vehicles Act to be amended. Entrepreneurs will be able to operate public transport
Health protection scheme up to Rs 1 lakh; additional package of Rs 30000 for senior citizens . The scheme will provide Rs 1 lakh to each family.
Govt to provide LPG connections to women of 1.5 cr BPL households at a cost of Rs 2, 000 crore in 2016-17
Union Budget 2016 -17 Live Updates
11.24 a.m.: Rs. 38,500 crore for MNREGA.
11.23 a.m.: Rs. 2.87 lakh crore for gram panchayats as per recommendation of 14th finance commission.
11.22 a.m.: Four schemes for animal welfare.
11.19 a.m.: Agricultural credit target of Rs 9 lakh crore.
11.19 a.m.: Unified e-platform for farmers to be inaugurated on Ambedkar’s birthday.
11.17 a.m.: Paramparagat Krishi Vikas Yojana to bring 5 lakh acres under organic farming.
11.14 a.m.: 28.5 lakh hectares to be brought under irrigation.
11.13 a.m.: Govt will reorganise agricultural policy to double farmer income in five years.
11.11 a.m.: Jaitley announces the nine pillars of his Budget — Agriculture and farmers’ welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden.
11.11 a.m.: New scheme for BPL families for gas connections. Staturtory backing for Aadhaar platform to ensure delivery of benefits.
11.10 a.m.: CAD is 1.4% of GDP.
11.10 a.m.: FY 16-17 will have the additional burden of implementing the VII pay commission and the defence OROP.
11.08 a.m.: FY 15-16 and 16-17 will be challenging for the government.
11.07 a.m.: Forex reserves are at the highest ever levels — $350 billion.
11.05 a.m.: GDP growth has accelerated to 7.6%. CPI inflation has come down to 5.4%.
11.05 a.m.: Mr. Jaitley says the Indian economy has held strong despite a global slowdown.
11 a.m.: Arun Jaitley rises to present the Budget.
10:46 am: Mr. Jaitley’s Budget speech to begin in 15 minutes.
10:43 am: Union Cabinet clears General Budget for 2016-17.
10:29 am: Cabinet meeting in Parliament ends.
10:05 am: The Sensex falls 59 points in early trade on reduced bets by cautious retail investors amid continued capital outflows by foreign funds ahead of the Budget. More…
9:53 am: Pre-Budget Cabinet meet to begin shortly.
9:40 am: Mr. Jaitley, MoS Jayant Sinha arrive in Parliament.