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Union Budget 2016 Highlights
By: Tupaki Desk | 29 Feb 2016 9:10 AM GMT
Finance Minister Arun Jaitley presented Union Budget 2016 Today in Lok Sabha. Agriculture, Rural Development, Infrastructure and Health Care have been given top priority. Have a look at the highlights of the budget…
Rs 2.87 lakh crore granted for Village Panchayats and Municipalities
Rs 2.18 lakh crore for Roads and Railways
Rs 87,765 crore allotted for Rural Development
Rs 60,000 crore for Ground Water recharging
Rs 38,500 crore for MNREGA
Rs 35,984 crore for Agriculture Sector. 29.5 lakh hectares of land will be brought under irrigation using Pradhan Mantri Krishi Sichai Yojana. Two Schemes launched to promote Organic Farming aiming 5 lakh acres of land in 3 years.
Rs 19,000 crore for Pradhan Mantri Gramin Sadak Yojana
Rs 9,000 crore for Swacch Bharat Abhiyan
Rs 8,000 crore for Sagarmala Project
Rs 5,500 crore for Crop Insurance Scheme
Rs 5,500 crore for Pradhan Mantri Fasal Bima Yojana
Rs 1,700 for Pradhan Mantri Kaushal Vikas Yojana
100% Tax Exemption for Start-Ups for 3 Years
Health Protection Scheme to provide insurance of Rs 1 lakh per family. Senior Citizens will receive a top up of Rs 35,000
HRA Tax relief hiked to Rs 60,000 from Rs 24,000 under Section 88G
1% Additional Tax on Cars costing Rs 10 lakh. 1% Infra Cess and 2.5% Infra Cess on petrol and diesel cars respectively. 4% Additional Tax on SUVs and High-Capacity Passenger Vehicles.
First Home Buyers receive an Additional Deduction of Rs 50,000 on interest for loans below Rs 35 lakhs.
10,000 kms of National Highway has been aimed. Plans to upgrade 50,000 mms of State Highways.
Permit Raj in Public Transport System apolished
Retail Shops allowed to run 7 days in a week
7th Pay Panel recommendations and OROP puts burden on Centre's expenditure next year
75 lakh people have voluntarily given up LPG subsidy. Rs 1,000 crore for LPG connection to Rural Households.
160 Airports and Airstrips gets Rs 50 to 100 crore each for revival
Centre to pay 8.33% for Employee Pension Fund for the first 3 years
Additional 10% tax on Dividend in excess of Rs 10 lakh
Rs 2.87 lakh crore granted for Village Panchayats and Municipalities
Rs 2.18 lakh crore for Roads and Railways
Rs 87,765 crore allotted for Rural Development
Rs 60,000 crore for Ground Water recharging
Rs 38,500 crore for MNREGA
Rs 35,984 crore for Agriculture Sector. 29.5 lakh hectares of land will be brought under irrigation using Pradhan Mantri Krishi Sichai Yojana. Two Schemes launched to promote Organic Farming aiming 5 lakh acres of land in 3 years.
Rs 19,000 crore for Pradhan Mantri Gramin Sadak Yojana
Rs 9,000 crore for Swacch Bharat Abhiyan
Rs 8,000 crore for Sagarmala Project
Rs 5,500 crore for Crop Insurance Scheme
Rs 5,500 crore for Pradhan Mantri Fasal Bima Yojana
Rs 1,700 for Pradhan Mantri Kaushal Vikas Yojana
100% Tax Exemption for Start-Ups for 3 Years
Health Protection Scheme to provide insurance of Rs 1 lakh per family. Senior Citizens will receive a top up of Rs 35,000
HRA Tax relief hiked to Rs 60,000 from Rs 24,000 under Section 88G
1% Additional Tax on Cars costing Rs 10 lakh. 1% Infra Cess and 2.5% Infra Cess on petrol and diesel cars respectively. 4% Additional Tax on SUVs and High-Capacity Passenger Vehicles.
First Home Buyers receive an Additional Deduction of Rs 50,000 on interest for loans below Rs 35 lakhs.
10,000 kms of National Highway has been aimed. Plans to upgrade 50,000 mms of State Highways.
Permit Raj in Public Transport System apolished
Retail Shops allowed to run 7 days in a week
7th Pay Panel recommendations and OROP puts burden on Centre's expenditure next year
75 lakh people have voluntarily given up LPG subsidy. Rs 1,000 crore for LPG connection to Rural Households.
160 Airports and Airstrips gets Rs 50 to 100 crore each for revival
Centre to pay 8.33% for Employee Pension Fund for the first 3 years
Additional 10% tax on Dividend in excess of Rs 10 lakh
