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Latest Updates - A quick go - Budget 2016

Budget - Dated:- 29-2-2016 - Latest Updates - Budget 2016 -For first time home buyers - additional ₹ 50000 rebate for loans upto ₹ 35 lakhs and houses that cost upto ₹ 50 lakhs -PM Awas Yojna: 100% deduction for profits of undertakings from housing projects in cities during June 2016 - March 2019 -MAT will apply for such undertakings -Suitable changes to be made in customs and excise duty rates to improve competitiveness and boost Make In India -Incentives for new manufacturing .....

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ing GAAR from April 1, 2017 -Presumptive income tax scheme to be extended to all professionals with income of ₹ 50 lakh with a presumption of 50 percent profit. -Accelerated depreciation to be limited to 40% wef from Apr 1, 2017 -Relief to those who living on rent - Rent deduction raised from ₹ 24,000 to ₹ 60,000 -Revenue deficit estimate for FY 2015-16 down to 2.5% from earlier estimates -Fiscal deficit for Financial Year 2016-'17 targeted at 3.5% -Govt acknowledges role o .....

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ntation for the past decade, a school of though now feels that instead of a fixed figure, there should a range based target for managing fiscal deficit -Direct benefit transfer scheme will be implemented for disbursal of fertilizer subsidy on a pilot basis -Govt stands firmly behind public sector banks, ₹ 25k crore for bank recapitalisation -Buffer stock of pulses will be created; 900 crore rupees for Market Stabilization Fund for Pulses -Govt stands firmly behind public sector banks ͅ .....

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mber of measures to be undertaken to deepen corporate bond market -RBI Act being amended to provide statutory basis for monetary policy framework -Process of transformation of IDBI has already started, govt will reduce its stake below 50% -PM Mudra Yojna amount snactioned has reached ₹ 1 Lakh crore, next year's target is 1,80,000 crore -Nationwide of ATMS, micro-ATMs across the country -General Insurance companies owned by the govt will be listed in the stock exchanges -Task force has .....

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-100% FDI through FAPB route in marketing of food products produced and manufactured in India -Will encourage CPSEs to sell their assets like land -Dept of Disinvestment to be renamed as Dept. of Investment and Public Asset Management -RBI Act being amended to provide statutory basis for monetary policy framework -Financial Data Management Centre for integrated data collection and analysis -3,500 medical stores to be opened under Pradhan Mantri Jan Aushodi Yojana -Retail trade is largest service .....

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modernize ports -800 cr for inland waterways -Action plan for revival of unserved and underserved airports -Will partner with state govt to develop some of these airports to enhance regional connectivity -Focus will be quality education -62 new Navodaya Vidyalas will be opened -Higher education financing agency will be set up with an initial capital of ₹ 1000 crore -Digital depository for school and college certificates will be set up -National skill development mission has trained 76 lak .....

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dy on LPG -New health protection scheme - cover of ₹ 1 lakh per family, senior citizens will get an additional cover of ₹ 30000 -National dialysis service programme will be started to provide dialysis service in all district hospital certain dialysis will get tax subsidy -'Stand up scheme' to promote entrepreneurship in SC/ST and women -The scheme gets ₹ 500 cr -National hub will be created to help SC/ST entrepreneurs -300 urban clusters to be set up under Shyama Prasad .....

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onne -Rs 2.87 Lakh Crores to be given as aid to Gram Panchayats as recommended by Finance Commission, a jump of 128% -Average assistance of rs 80 lakh for gram panchayats, ₹ 21 crore for each local body -New projects to be taken for dairy procurement, will issue animal health card, e-marketing portal for contacting breeders -Rs 38,500 crore has been allocated to MNREGA. This will be highest amount spent on NREGA -Rs 500 crore under food security mission earmarked for cultivation of pulses .....

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