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Budget 2016 17 @kamlesh durgapal

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Kamlesh Durgapal
Kamlesh Durgapal

This budget summary outlines the key priorities and plans of the Indian government's third budget under Prime Minister Modi's administration. It focuses on increasing entrepreneurship, health, dialysis, agriculture and irrigation. Planned expenditures are budgeted to increase 15.3% over the previous year, with funds allocated towards agriculture/farmers, rural development, social sectors, education, jobs, infrastructure, banking reforms, e-governance and tax reforms. Specific agriculture and irrigation initiatives are detailed to achieve the goal of doubling farmers' incomes by 2022.

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Budget 2016 17 @kamlesh durgapal
Budget 2016 17 @kamlesh durgapal
Budget 2016 17 @kamlesh durgapal
TRANSFORM INDIA It indicates that we are focusing to increase: 1.Entrepreneurship. 2. Health. 3.Dialysis. 4. Agriculture. 5. Irrigation.
A budget is an annual financial statement of government expected estimated receipts and revenues in a financial year. This budget is from 1st April 2016 to 31st March 2017 This is the Third Budget of MODI¡¯s Government. Predicition on Advance for the Year
5.50 Lakh Crores 14.28 Lakh Crores 19.78 Lakh Crores
? Rise of 15.30% from previous year. Planned expenditure is that expenditure that government know where to invest it. Example: like Banking sector, railway,etc Expenditure that we do in case of any economic problem, lowdown, depression of economy or at the time of natural calamity.
? Agriculture and Farmer welfare ? Rural sector ? Social sector including Health ? Education , skills and job creation that leads to Employment ? Infrastructure ? Financial sector reforms for Banking sector ? Government¡¯s E-governance business including startup INDIA Setup INDIA scheme ? Fiscal Discipline (Fiscal Deficit) ? Tax reforms (Direct and Indirect )
? Double the income of farmer till 2022. ? 35,984 crore total allocated for agriculture sector during the budget. ? Agriculture credit is Rs. 9 lakh crore. (In addition to 15000 crore has been kept as Intrest provision) ? PRADHAN MANTRI PERSONAL BIMA YOGANA which was launched on 2015 again benefted with 5500 crore rupeees this year also. ? Soil Health Card scheme coverage to 14 crore form holding by March 2017. ? PKVY(PARAMPARAGAT KRISHI VIKAS YOJANA) UNDER THIS 5 Lakh acres of Rain Red area in given for organic farming. Soil Helath= to check Productivity of Soil. ? E platform for selling agriculture products. Which is to be launched on 14th April 2016 on B.R Ambedkar Jayanti.
?PMKSY = 28.5 lakh hectares of land was provided total cultivated =141 million hectares where as only 65 hectares of land is properly irrigated. ? Rs. 20,000 crores for long term irrigation fund ?Suistanable management of ground water resources 6000 crores. ?89 projects accelerated under irrigation benefit programs from which 23 are going to complete till 31 st march 2017. ?Price stablisation fund 900 crores
? NO change in Income tax slab ? Surharge increases from 12% to 15% on those person whose income is above 1 crore. ? STT= security transaction tax was 0.017% now it is increased to 0.05% ? If a person receive dividend in excess of 10 lakh per annum the he is liable to pay 10 % tax on it. ? Equalition levi @ 6 % to be imposed if a person making payment in excess to 1 lakh in a year for online advertisement. ? KRISHI KALYAN cess @0.05% on all taxable services is going to start from 1st june 2016. TAX AT SOURCE: ? Imposed 1% on purchase of Luxury card exceeding value of 10 lakh. ? Goods and services in cash exceeding 2lakh INFRASTRUCTURE CESS: ? 1% on LPG, CNG, small petrol ? 2.5% on diesel cars ? 4% on higher engine capacity on SUV ? Clean energy cess is now replaced by clean environment cess which was 200 per ton but now it is 400 per ton.
?Ceiling of tax rebate under section 87A increased from 2000 to 5000. relief of 3000 to those who reach upto 5lakh per annum. ?Increase the limit of deduction of rent under section 80G from 24000 to 60000. ?Increase in the turnover limit under preasumpted taxation scheme U/S GG AD of IT act to the turnover limit of 2000 crore from the current limit of 1000 crore. ?Corporate taxes on manufacturing companies on or after 1st Jun 2016 25%+surcharge+cess. ?New startups got 100% deductions of profit for 3 years.

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Budget 2016 17 @kamlesh durgapal

  • 4. TRANSFORM INDIA It indicates that we are focusing to increase: 1.Entrepreneurship. 2. Health. 3.Dialysis. 4. Agriculture. 5. Irrigation.
  • 5. A budget is an annual financial statement of government expected estimated receipts and revenues in a financial year. This budget is from 1st April 2016 to 31st March 2017 This is the Third Budget of MODI¡¯s Government. Predicition on Advance for the Year
  • 7. ? Rise of 15.30% from previous year. Planned expenditure is that expenditure that government know where to invest it. Example: like Banking sector, railway,etc Expenditure that we do in case of any economic problem, lowdown, depression of economy or at the time of natural calamity.
  • 8. ? Agriculture and Farmer welfare ? Rural sector ? Social sector including Health ? Education , skills and job creation that leads to Employment ? Infrastructure ? Financial sector reforms for Banking sector ? Government¡¯s E-governance business including startup INDIA Setup INDIA scheme ? Fiscal Discipline (Fiscal Deficit) ? Tax reforms (Direct and Indirect )
  • 9. ? Double the income of farmer till 2022. ? 35,984 crore total allocated for agriculture sector during the budget. ? Agriculture credit is Rs. 9 lakh crore. (In addition to 15000 crore has been kept as Intrest provision) ? PRADHAN MANTRI PERSONAL BIMA YOGANA which was launched on 2015 again benefted with 5500 crore rupeees this year also. ? Soil Health Card scheme coverage to 14 crore form holding by March 2017. ? PKVY(PARAMPARAGAT KRISHI VIKAS YOJANA) UNDER THIS 5 Lakh acres of Rain Red area in given for organic farming. Soil Helath= to check Productivity of Soil. ? E platform for selling agriculture products. Which is to be launched on 14th April 2016 on B.R Ambedkar Jayanti.
  • 10. ?PMKSY = 28.5 lakh hectares of land was provided total cultivated =141 million hectares where as only 65 hectares of land is properly irrigated. ? Rs. 20,000 crores for long term irrigation fund ?Suistanable management of ground water resources 6000 crores. ?89 projects accelerated under irrigation benefit programs from which 23 are going to complete till 31 st march 2017. ?Price stablisation fund 900 crores
  • 11. ? NO change in Income tax slab ? Surharge increases from 12% to 15% on those person whose income is above 1 crore. ? STT= security transaction tax was 0.017% now it is increased to 0.05% ? If a person receive dividend in excess of 10 lakh per annum the he is liable to pay 10 % tax on it. ? Equalition levi @ 6 % to be imposed if a person making payment in excess to 1 lakh in a year for online advertisement. ? KRISHI KALYAN cess @0.05% on all taxable services is going to start from 1st june 2016. TAX AT SOURCE: ? Imposed 1% on purchase of Luxury card exceeding value of 10 lakh. ? Goods and services in cash exceeding 2lakh INFRASTRUCTURE CESS: ? 1% on LPG, CNG, small petrol ? 2.5% on diesel cars ? 4% on higher engine capacity on SUV ? Clean energy cess is now replaced by clean environment cess which was 200 per ton but now it is 400 per ton.
  • 12. ?Ceiling of tax rebate under section 87A increased from 2000 to 5000. relief of 3000 to those who reach upto 5lakh per annum. ?Increase the limit of deduction of rent under section 80G from 24000 to 60000. ?Increase in the turnover limit under preasumpted taxation scheme U/S GG AD of IT act to the turnover limit of 2000 crore from the current limit of 1000 crore. ?Corporate taxes on manufacturing companies on or after 1st Jun 2016 25%+surcharge+cess. ?New startups got 100% deductions of profit for 3 years.