Finance Minister Arun Jaitley presented the first full year Budget of the NDA government in the Lok
Sabha. The highlights of Union Budget for 2015 – 16 are
1. Jan Dhan Yojana, Coal Auction and Swacch Bharat programme are three major achievements of
2. Additional 1,000 crore to Nirbhaya fund for women's security.
3. Employees contribution to the EPF should be optional.
4. FMC to be strengthened by merging with SEBI.
5. MNREGA: additional allocation of Rs 5,000 crore if revenue resources materialise; Making
highest ever allocation.
6. Five ultra mega power projects through transparent auction system of 4000 MW announced.
7. Govt. plans an expert committee for Drafting Legislation for Regulatory mechanism.
8. Govt to launch PM Suraksha Bhima Yojana, offering coverage of Rs 2 lakh for just premium of
9. Atal Innovation Mission with initial fund of Rs.150 crore announced for Research and
10. Tax free Infrastructure bonds for projects in Railways and roads.
11. PPP model of Infrastructure to be revitalized and realigned.
12. Investment in Infrastructure to go up by Rs 70,000 crores in 2015-16 over 2014-15.
13. New scheme 'Nayi Manzil' to enable Minority youth without school leaving certificates to get the
14. Finance Minister Arun Jaitley announces " Atal Pension Yojna".
15. Govt is committed to bring a Universal social security system for all.
16. Govt is committed to increase the access of people to formal financial system.
17. Govt to bring a comprehensive Bankruptcy code for the ease of doing business by 2015-16.
18. Mudra Bank of corpus of Rs 20000 crores to refinance the micro finance institutions.
19. Rural Infrastructure Development Fund to be 25000 Crores.
20. Targeted system to rationalise subsidies.
21. Roadmap to achieve Fiscal deficit of 3% of GDP in three years: Target is 3.9% in 2015-16, 3.5%
.in 2016-17, 3% in 2017-18.
22. Fiscal deficit of 4.1% of GDP this year.
23. FOREX reserves $340 bn; Second best stock market in Asian economy.
24. Real GDP expected to accelerate to 7.4%.
25. The states get 62% of the total resources .
26. To ensure employment to our youth, we have to make India the manufacturing hub of the world.
27. A roof for each family in India by 2022- 75th Year of India's Independence.
28. Double digit growth seems feasible.
29. Govt's two game changing reforms: GST and JAM Trinity (Jandhan, AADHAR, Mobile No.).
30. Our achievement is to conquer inflation; will be only 5 % by end of year.
31. No change in individual income tax slabs.
32. Individual tax payer will benefit to the extent Rs.4,44,200 from the exemptions announced.
33. Direct tax proposals will lead to loss of Rs.8,315 cr; Indirect proposal will yield Rs.23,383 cr.
34. For middleclass, for contribution to NPS, exemption raised from Rs 1,00,000 to Rs.1,50,000
35. All contributions to Sukanya Samridhi scheme to be tax free.
36. Transport allowance exemption on Income Tax increased from Rs.800 to 1600.
37. Income Tax rebate on Health insurance contribution increased to Rs. 25,000.
38. Consolidated Service tax increased to 14%.
39. 100% tax exemption in CSR activities for Clean Ganga Fund and Swachh Bharat Kosh.
40. Wealth tax abolished. 2% surcharge will be applicable on super rich with above Rs 1 crore annual
41. Taxes on Technical Services reduced to 10% from 25%
42. Implementation of GAAR deferred by 2 years
43. PAN number quoting made compulsory for transactions for more than 1 lakh
44. Taxation is an instrument of socio-economic engineering
45. Benami Transaction Prohibition Bill to be introduced to tackle black money transaction in real
46. Govt to enact a comprehensive law on black money stashed abroad.
47. Concealment of income will be prosecutable with rigorous imprisonment.
48. Corporate Tax reduced from 30% to 25% for next four years for employment generation.
49. Fiscal Deficit target to be 3.9% in FY 2015-16; Revenue Deficit to be 2.8% in FY 2015-16.
50. Govt to do away with distinctions between FII and FDI and replace it with Composite Caps.
51. Defense budget enhanced to Rs 2,46,727 crore.
52. National Optical Fibre network to be expanded.
53. IIT to be set up in Karnataka and IIM in J&K and Andhra Pradesh.
54. AIIMS to be set up in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam.
55. Visa-on-arrival to be extended to 150 countries in various stages.
56. Finance Minister announces 10 nominations for Heritage Sites.
57. Indian Gold Coin with Ashok Chakra to be issued.