A budget is a quantitative expression of a financial plan, we all know that but, not everyone understands the whole of Budget. For this reason alone, the budget views are presented in a PPT format for your reference.
A presentation by CA Manish Hingar
Missed out on the Union Budget 2017 Presentation?
Indian Finance Minister, Mr. Arun Jaitely has once again taken the nation by wave with his pro-poor, pro-growth, pro-middle class, pro-youth & paradigm shifting Budget. Read the highlights of the Budget here.
The document summarizes key points from the 2017-18 Union Budget of India presented by Finance Minister Arun Jaitley. The budget focused on 10 themes: farmers, rural population, youth, poor/underprivileged, infrastructure, financial sector, digital economy, fiscal management, tax proposals, and political party funding. Key allocations and policy changes are outlined for agriculture, rural development, education, healthcare, infrastructure, energy, taxation, and other sectors. The budget was positively received in stock markets but rail stocks fell due to proposed rail allocation. Certain items like cigarettes and LED components will be costlier while online rail tickets and LNG will be cheaper after the budget.
The Union Budget 2017 document summarizes key changes announced in the Indian Union Budget of 2017 and their implications. Some of the major changes include reductions in income tax rates for individual income between 2.5 to 5 lakhs, a reduction in the income tax rebate amount, restrictions on cash transactions over 300,000 rupees, a 10% income tax surcharge for incomes between 50 to 100 lakhs, and reductions in the permissible amount for cash donations from 10,000 to 2,000 rupees. The budget also included exempting long term capital gains from equity investments from tax if securities transaction tax was paid, penalties for delayed income tax filings, and changes to long term capital gains holding periods and the
The budget document discusses key changes made in the Union Budget 2017 presented by the Finance Minister, including:
- The budget date was advanced to February 1 to allow ministries time to implement activities from April 1.
- The railway budget was merged with the general budget, discontinuing a colonial-era practice.
- Classification of expenditures as plan and non-plan was removed, with allocation divided into capital and revenue.
- Measures were introduced to curb black money while focusing on rural growth and digitizing the economy. Tax relief was provided for individuals and small companies.
The budget aims to transform, energize, and clean India with a focus on long-term vision.
The Union Budget 2017-18 aims to improve the quality of growth and life of citizens. Key priorities include farmers, rural development, skills development for youth, and welfare of the poor. Infrastructure development remains a focus. Fiscal deficit is targeted at 3.2% of GDP for 2017-18. Prudent fiscal management aims to achieve fiscal targets while increasing capital expenditures. The budget emphasizes use of digital technology and improving tax administration.
The budget document outlines several major reforms and policy initiatives in the 2017-18 Indian budget. It includes advancing the date of budget presentation, merging the railway budget with the main budget, and abolishing the distinction between plan and non-plan expenditure. It also outlines changes to direct and indirect taxation rates, as well as allocations for infrastructure development, rural development, healthcare, education, skill development, agriculture and banking sector reforms.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017. This was the fourth budget under the Narendra Modi government. Key highlights included increased allocation for welfare of women and children to Rs. 1,84,632 crore, tax proposals, a focus on rural populations, infrastructure and railways, and support for agriculture and vulnerable groups.
Missed out on the Union Budget 2017 Presentation?
Indian Finance Minister, Mr. Arun Jaitely has once again taken the nation by wave with his pro-poor, pro-growth, pro-middle class, pro-youth & paradigm shifting Budget. Read the highlights of the Budget here.
The document summarizes key points from the 2017-18 Union Budget of India presented by Finance Minister Arun Jaitley. The budget focused on 10 themes: farmers, rural population, youth, poor/underprivileged, infrastructure, financial sector, digital economy, fiscal management, tax proposals, and political party funding. Key allocations and policy changes are outlined for agriculture, rural development, education, healthcare, infrastructure, energy, taxation, and other sectors. The budget was positively received in stock markets but rail stocks fell due to proposed rail allocation. Certain items like cigarettes and LED components will be costlier while online rail tickets and LNG will be cheaper after the budget.
The Union Budget 2017 document summarizes key changes announced in the Indian Union Budget of 2017 and their implications. Some of the major changes include reductions in income tax rates for individual income between 2.5 to 5 lakhs, a reduction in the income tax rebate amount, restrictions on cash transactions over 300,000 rupees, a 10% income tax surcharge for incomes between 50 to 100 lakhs, and reductions in the permissible amount for cash donations from 10,000 to 2,000 rupees. The budget also included exempting long term capital gains from equity investments from tax if securities transaction tax was paid, penalties for delayed income tax filings, and changes to long term capital gains holding periods and the
The budget document discusses key changes made in the Union Budget 2017 presented by the Finance Minister, including:
- The budget date was advanced to February 1 to allow ministries time to implement activities from April 1.
- The railway budget was merged with the general budget, discontinuing a colonial-era practice.
- Classification of expenditures as plan and non-plan was removed, with allocation divided into capital and revenue.
- Measures were introduced to curb black money while focusing on rural growth and digitizing the economy. Tax relief was provided for individuals and small companies.
The budget aims to transform, energize, and clean India with a focus on long-term vision.
The Union Budget 2017-18 aims to improve the quality of growth and life of citizens. Key priorities include farmers, rural development, skills development for youth, and welfare of the poor. Infrastructure development remains a focus. Fiscal deficit is targeted at 3.2% of GDP for 2017-18. Prudent fiscal management aims to achieve fiscal targets while increasing capital expenditures. The budget emphasizes use of digital technology and improving tax administration.
The budget document outlines several major reforms and policy initiatives in the 2017-18 Indian budget. It includes advancing the date of budget presentation, merging the railway budget with the main budget, and abolishing the distinction between plan and non-plan expenditure. It also outlines changes to direct and indirect taxation rates, as well as allocations for infrastructure development, rural development, healthcare, education, skill development, agriculture and banking sector reforms.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017. This was the fourth budget under the Narendra Modi government. Key highlights included increased allocation for welfare of women and children to Rs. 1,84,632 crore, tax proposals, a focus on rural populations, infrastructure and railways, and support for agriculture and vulnerable groups.
The document summarizes key aspects of India's 2017-18 Union Budget. It outlines the agenda for the year, which focuses on transforming governance, energizing various sections of society, and cleaning the country from issues like corruption. It also summarizes major policy announcements, including liberalizing FDI rules and listing railway PSEs, as well as key proposals for direct taxes like income tax rates and corporate tax rates, and indirect taxes including changes to customs and excise duty tariffs.
The document provides a high-level summary of key aspects of the 2017-2018 budget of India. It allocates ₹21.47 lakh crores with focus on farmers, rural population, youth, poor and underprivileged, and sectors like railways, infrastructure, financial, and digital. It aims to boost agriculture with higher credit limits, expand crop insurance and markets. It also focuses on rural employment, healthcare, education, housing, and transportation infrastructure development through initiatives like MGNREGA, Swachh Bharat, and Smart Cities. Fiscal deficit is targeted at 3.2% of GDP with emphasis on transparency, ease of doing business and a simplified income tax structure.
This document summarizes key changes from the Indian Budget 2017 relating to direct taxes, indirect taxes, and other financial measures. For individuals, the document outlines changes such as reduced income tax rates, increased deduction limits, and simplified income tax returns. For corporates and professionals, it discusses changes like the corporate tax rate and presumptive taxation. The document also summarizes changes to capital gains tax, TDS/TCS provisions, and introduces new penalties for non-compliance. Regarding indirect taxes, it notes that the Goods and Services Tax is expected to be implemented soon and replaces existing service tax and excise duty laws.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
This presentation has been prepared to give a glimpse of Union Budget 2017-18. It will come handy for management students who have Finance as one of their subjects.
The budget document outlines key details of the 2017-18 Indian union budget. Some highlights include a fiscal deficit target of 3.2% of GDP, total borrowing estimated at Rs. 546332 crore, a reduction of the corporate tax rate for MSMEs to 25%, and a reduction of the tax rate on income up to Rs. 5 lakh to 5%. It also notes a 25.4% increase in capital expenditure from the previous year.
This document provides an overview of key economic indicators and tax reforms in India. It discusses GDP growth rates, fiscal deficit, foreign exchange reserves, and inflation rates. It also summarizes recent changes to direct taxes like corporate tax rates, thin capitalization rules, and the introduction of GAAR. International tax reforms regarding place of effective management, indirect transfers, and secondary adjustments are also covered at a high level.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017 with an overall size of 21.47 lakh crore rupees. Key focuses of the budget included transforming governance, energizing various sections of society including youth and farmers, and cleaning the country from corruption. Major allocations were made for infrastructure development, rural development including doubling farmers' income, healthcare, education and skills development, and the defense sector. The fiscal deficit target for 2017-18 was set at 3.2% of GDP.
This slide deck includes the highlights of the recent Union Budget of India for the financial year 2017-18 announced by Mr Arun Jaitley (Finance Minister) on 2nd Feb 2017.
For Salient Features of Union Budget 2017 created by Lunawat Team click at - http://lunawat.com/Uploaded_Files/Attachments/F_3558.pdf
Regards
CA Pramod Jain
The budget proposal is divided into 10 themes: farmers, rural population, youth, poor/underprivileged, infrastructure, financial sector, digital economy, public services, fiscal management, and tax administration. Key points include increased farmer credit, rural development programs, skill training for youth, healthcare initiatives, infrastructure spending on railways and roads, financial reforms, digital payment promotion, and tax reforms including lowering personal income tax rates. The budget aims to boost rural spending and contains major reforms like merging the railway budget.
Budget Analysis of Union Budget 2017 in relation to amendments made in Income Tax Act, 1961 and Service Tax. A comprehensive and detailed analysis in simple language for better understanding of every class of readers.
The document summarizes key highlights from the Union Budget related to trusts, tax rates for small companies, house property, business income, capital gains, deductions, transfer pricing, special tax rates, TDS, and return filing provisions. Some key changes include an increased tax rate of 25% for small companies with turnover up to 50 crores, reduced holding period for long term capital gains on immovable property from 36 to 24 months, and increased contribution limits for NPS deductions.
The document provides an overview of the key highlights from the Indian Union Budget for 2017-18. It summarizes the major allocations and policy initiatives across 10 sectors - Farmers; rural population; energizing youth; poor and underprivileged; infrastructure; financial sector; digital economy; public service; prudent fiscal management; and tax administration. Some of the major initiatives include increased funding for rural development programs, infrastructure development, healthcare, education and skills training to support farmers, rural communities, youth and the underprivileged.
The document is a summary of the key announcements made in the Indian Union Budget for 2018-19 presented by Finance Minister Arun Jaitley. Some of the key highlights include:
- Increased focus on agriculture and rural economy through initiatives like Operation Green, e-NAM, and increasing MSP for crops.
- Investments in education through the new RISE initiative and setting up more medical colleges and Ekalavya schools.
- Allocations for railways infrastructure projects, electrification, dedicated freight corridors and procurement of trains and locomotives.
- Tax relief for small businesses and salaried individuals through standard deduction and lower tax rates.
- Increased investments in infrastructure like roads, airports,
The document summarizes key changes to India's income tax rates and policies introduced in the 2017 Union Budget. Some highlights include:
- Income tax slab rates were reduced for individual taxpayers with annual income up to Rs. 250,000 taxed at 5% instead of 10%.
- Corporate tax rates were lowered to 25% for domestic companies from 29% previously.
- Cash transaction limits for tax deductibility were set at Rs. 10,000 and tax rebates were increased for individual taxpayers.
- Presumptive income rates were reduced to 6% for small businesses with annual turnover up to Rs. 2 crore.
- Tax audit limits were increased to Rs. 2 crore annual turnover.
The document summarizes key aspects of the Indian Union Budget for 2012-2013, including plans to achieve the Vision 2020 goals, changes to personal income tax rates and exemptions, support for infrastructure development, rural development, education, and skill building. It also provides an overview of the Indian economy and analysis of the budget's expected impacts on business, fiscal consolidation, economic changes, and consumers.
To discuss the ongoing changes in the Indian Economy, Laws and Policies which are catalyzing the process of India becoming an attractive investment destination and to walk through the process of "Doing Business in India”.
The document provides an analysis of key direct tax proposals in the Union Budget 2017 relating to transfer pricing, thin capitalization rules, taxation of individuals and companies, capital gains, real estate transactions, startups, and measures to promote digital payments and discourage cash transactions. Some key changes include reduced tax rates for individuals, introduction of secondary adjustment and thin capitalization rules for transfer pricing, relaxation of conditions for affordable housing tax exemption, and restrictions on cash donations and transactions above certain thresholds.
The basic schemes, reforms, policy announced by our financial minister Mr. Arun Jetley was described in the slides. It will be more useful for everyone. It helps even a common man to learn about our country's budget.
Union Budget 2017 - A Pitchfork Partners AnalysisAshraf Engineer
Finance Minister Arun Jaitley presented a Union Budget of many firsts today. Apart from integrating the Rail Budget into itself, the presentation was advanced to February 1 to enable better operationalisation. Also, plan and non-plan classifications were eliminated for a holistic view of allocations.
The Budget was presented in the wake of demonetisation and all eyes were on what the government would do next. The finance minister focused on rural development and agriculture, while laying emphasis on tax compliance, affordable housing and social investment as part of a 10-point agenda.
Here's an overview and analysis of the Budget.
The document summarizes key aspects of India's 2017-18 Union Budget. It outlines the agenda for the year, which focuses on transforming governance, energizing various sections of society, and cleaning the country from issues like corruption. It also summarizes major policy announcements, including liberalizing FDI rules and listing railway PSEs, as well as key proposals for direct taxes like income tax rates and corporate tax rates, and indirect taxes including changes to customs and excise duty tariffs.
The document provides a high-level summary of key aspects of the 2017-2018 budget of India. It allocates ₹21.47 lakh crores with focus on farmers, rural population, youth, poor and underprivileged, and sectors like railways, infrastructure, financial, and digital. It aims to boost agriculture with higher credit limits, expand crop insurance and markets. It also focuses on rural employment, healthcare, education, housing, and transportation infrastructure development through initiatives like MGNREGA, Swachh Bharat, and Smart Cities. Fiscal deficit is targeted at 3.2% of GDP with emphasis on transparency, ease of doing business and a simplified income tax structure.
This document summarizes key changes from the Indian Budget 2017 relating to direct taxes, indirect taxes, and other financial measures. For individuals, the document outlines changes such as reduced income tax rates, increased deduction limits, and simplified income tax returns. For corporates and professionals, it discusses changes like the corporate tax rate and presumptive taxation. The document also summarizes changes to capital gains tax, TDS/TCS provisions, and introduces new penalties for non-compliance. Regarding indirect taxes, it notes that the Goods and Services Tax is expected to be implemented soon and replaces existing service tax and excise duty laws.
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Bud...Youth Apps
Latest Key Features of Budget 2017-2018 on each topics discussed in Union Budget 2017.
INTRODUCTION
CHALLENGES IN 2017-18
DEMONITISATION
ROADMAP & PRIORITIES
FARMERS
RURAL POPULATION
YOUTH
INFRASTRUCTURE
FINANCIAL SECTOR
DIGITAL ECONOMY
PUBLIC SERVICE
PRUDENT FISCAL MANAGEMENT
PROMOTING AFFORDABLE HOUSING AND REAL ESTATE SECTOR
PROMOTING DIGITAL ECONOMY
EASE OF DOING BUSINESS
GOODS AND SERVICES TAX
RAPID (Revenue, Accountability, Probity, Information and Digitisation)
This presentation has been prepared to give a glimpse of Union Budget 2017-18. It will come handy for management students who have Finance as one of their subjects.
The budget document outlines key details of the 2017-18 Indian union budget. Some highlights include a fiscal deficit target of 3.2% of GDP, total borrowing estimated at Rs. 546332 crore, a reduction of the corporate tax rate for MSMEs to 25%, and a reduction of the tax rate on income up to Rs. 5 lakh to 5%. It also notes a 25.4% increase in capital expenditure from the previous year.
This document provides an overview of key economic indicators and tax reforms in India. It discusses GDP growth rates, fiscal deficit, foreign exchange reserves, and inflation rates. It also summarizes recent changes to direct taxes like corporate tax rates, thin capitalization rules, and the introduction of GAAR. International tax reforms regarding place of effective management, indirect transfers, and secondary adjustments are also covered at a high level.
The Union Budget for 2017-18 was presented by Finance Minister Arun Jaitley on February 1st, 2017 with an overall size of 21.47 lakh crore rupees. Key focuses of the budget included transforming governance, energizing various sections of society including youth and farmers, and cleaning the country from corruption. Major allocations were made for infrastructure development, rural development including doubling farmers' income, healthcare, education and skills development, and the defense sector. The fiscal deficit target for 2017-18 was set at 3.2% of GDP.
This slide deck includes the highlights of the recent Union Budget of India for the financial year 2017-18 announced by Mr Arun Jaitley (Finance Minister) on 2nd Feb 2017.
For Salient Features of Union Budget 2017 created by Lunawat Team click at - http://lunawat.com/Uploaded_Files/Attachments/F_3558.pdf
Regards
CA Pramod Jain
The budget proposal is divided into 10 themes: farmers, rural population, youth, poor/underprivileged, infrastructure, financial sector, digital economy, public services, fiscal management, and tax administration. Key points include increased farmer credit, rural development programs, skill training for youth, healthcare initiatives, infrastructure spending on railways and roads, financial reforms, digital payment promotion, and tax reforms including lowering personal income tax rates. The budget aims to boost rural spending and contains major reforms like merging the railway budget.
Budget Analysis of Union Budget 2017 in relation to amendments made in Income Tax Act, 1961 and Service Tax. A comprehensive and detailed analysis in simple language for better understanding of every class of readers.
The document summarizes key highlights from the Union Budget related to trusts, tax rates for small companies, house property, business income, capital gains, deductions, transfer pricing, special tax rates, TDS, and return filing provisions. Some key changes include an increased tax rate of 25% for small companies with turnover up to 50 crores, reduced holding period for long term capital gains on immovable property from 36 to 24 months, and increased contribution limits for NPS deductions.
The document provides an overview of the key highlights from the Indian Union Budget for 2017-18. It summarizes the major allocations and policy initiatives across 10 sectors - Farmers; rural population; energizing youth; poor and underprivileged; infrastructure; financial sector; digital economy; public service; prudent fiscal management; and tax administration. Some of the major initiatives include increased funding for rural development programs, infrastructure development, healthcare, education and skills training to support farmers, rural communities, youth and the underprivileged.
The document is a summary of the key announcements made in the Indian Union Budget for 2018-19 presented by Finance Minister Arun Jaitley. Some of the key highlights include:
- Increased focus on agriculture and rural economy through initiatives like Operation Green, e-NAM, and increasing MSP for crops.
- Investments in education through the new RISE initiative and setting up more medical colleges and Ekalavya schools.
- Allocations for railways infrastructure projects, electrification, dedicated freight corridors and procurement of trains and locomotives.
- Tax relief for small businesses and salaried individuals through standard deduction and lower tax rates.
- Increased investments in infrastructure like roads, airports,
The document summarizes key changes to India's income tax rates and policies introduced in the 2017 Union Budget. Some highlights include:
- Income tax slab rates were reduced for individual taxpayers with annual income up to Rs. 250,000 taxed at 5% instead of 10%.
- Corporate tax rates were lowered to 25% for domestic companies from 29% previously.
- Cash transaction limits for tax deductibility were set at Rs. 10,000 and tax rebates were increased for individual taxpayers.
- Presumptive income rates were reduced to 6% for small businesses with annual turnover up to Rs. 2 crore.
- Tax audit limits were increased to Rs. 2 crore annual turnover.
The document summarizes key aspects of the Indian Union Budget for 2012-2013, including plans to achieve the Vision 2020 goals, changes to personal income tax rates and exemptions, support for infrastructure development, rural development, education, and skill building. It also provides an overview of the Indian economy and analysis of the budget's expected impacts on business, fiscal consolidation, economic changes, and consumers.
To discuss the ongoing changes in the Indian Economy, Laws and Policies which are catalyzing the process of India becoming an attractive investment destination and to walk through the process of "Doing Business in India”.
The document provides an analysis of key direct tax proposals in the Union Budget 2017 relating to transfer pricing, thin capitalization rules, taxation of individuals and companies, capital gains, real estate transactions, startups, and measures to promote digital payments and discourage cash transactions. Some key changes include reduced tax rates for individuals, introduction of secondary adjustment and thin capitalization rules for transfer pricing, relaxation of conditions for affordable housing tax exemption, and restrictions on cash donations and transactions above certain thresholds.
The basic schemes, reforms, policy announced by our financial minister Mr. Arun Jetley was described in the slides. It will be more useful for everyone. It helps even a common man to learn about our country's budget.
Union Budget 2017 - A Pitchfork Partners AnalysisAshraf Engineer
Finance Minister Arun Jaitley presented a Union Budget of many firsts today. Apart from integrating the Rail Budget into itself, the presentation was advanced to February 1 to enable better operationalisation. Also, plan and non-plan classifications were eliminated for a holistic view of allocations.
The Budget was presented in the wake of demonetisation and all eyes were on what the government would do next. The finance minister focused on rural development and agriculture, while laying emphasis on tax compliance, affordable housing and social investment as part of a 10-point agenda.
Here's an overview and analysis of the Budget.
The document summarizes key aspects of the 2018-19 Indian budget including:
- Reduced corporate tax rate of 25% for companies with turnover up to Rs. 250 crore.
- Standard deduction of Rs. 40,000 introduced in lieu of transport and medical reimbursements.
- Increased tax benefits for senior citizens including higher deduction limits for health insurance and medical expenditures.
- Long term capital gains over Rs. 1 lakh to be taxed at 10% without indexation benefit.
- Higher allocation for education, health, infrastructure, MSMEs, and women's empowerment.
The document is an economic budget proposal for 2016-17 presented by students from Laxmi Institute of Technology. It summarizes the key priorities and allocation of funds in areas such as agriculture, rural development, education, skill development, job creation, governance, and tax simplification. Some highlights include allocating 35,984 crores for agriculture and farmers' welfare, 87,765 crores for rural sector programs, 1804 crores for skill development initiatives, and focusing on improving ease of doing business and fiscal discipline. The budget aims to boost economic growth while addressing challenges of global slowdown and increased fiscal burdens.
Exclusive report on budget 2015 16 by epic research private limitedEpic Research Limited
Epic Research Private Limited Budget Simplified Version of the Union Budget 2015-16. This report includes all the highlights and overview of the union budget as well as Railway Budget of India.
The document summarizes key highlights from the Union Budget for 2018-19 presented by the Finance Minister in India. Some key points include:
- The budget continued fiscal discipline while targeting spending on rural development, education, healthcare, and MSME sector.
- GDP growth is projected to be 6.75% for 2017-18 and 7-7.5% for 2018-19.
- Changes were announced in direct taxes including income tax slabs and deductions. Capital gains tax was introduced for equity investments.
- Agriculture, rural development, and health sectors saw increased allocations for schemes.
- Corporate tax rate was reduced for small and medium enterprises.
The document provides an overview of the Union Budget 2016-17 presented by the government of India. It discusses key highlights and priorities of the budget which include boosting economic growth, ensuring macroeconomic stability, continuing reforms, and focusing on vulnerable sections through new health and insurance schemes. The budget aims to boost infrastructure investment, agriculture and rural development, education and skills training, and make progress toward fiscal discipline and a pensioned society. It provides tax relief for small taxpayers and incentives for affordable housing, startups, and manufacturing.
The budget focused on developing a 'New India' through boosts for agriculture, rural development, infrastructure, healthcare, employment and education. Key announcements included increasing MSP for crops to 1.5 times production cost, allocating Rs. 2000 crore for developing agricultural markets, and doubling allocation for food processing. The budget also proposed the world's largest government healthcare program covering over 10 crore poor families and allocating funds for rural housing and education infrastructure development. However, expectations of income tax cuts were mostly unmet with the exception of a standard deduction increase, and stock markets fell due to the announcement of a 10% tax on long-term capital gains from equities.
Edelman India Analysis
Standing in for Mr Arun Jaitley, Finance Minister (FM), Piyush Goyal presented the Union Budget of India earlier today. Highlighting achievements of various Government schemes, Mr Goyal stated that the Government led by Prime Minister Modi has been the most decisive and transformational in executing structural reforms.
Focused on rural and inclusive development over the next 5-10 years, the Budget included significant announcements ahead of the General Elections while also outlining ten dimensions of the Government’s Vision for India’s development by 2030. The launch of, “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN),” which aims to supplement rural income, captured the limelight of this year’s budget. The middle class has also benefited with higher gratuity, broadening of the tax-exempt bracket and waivers on income tax on notional rent. A mega pension scheme for workers in the unorganised sector was also announced along with health coverage under the ‘Ayushman Bharat’ scheme.
The Government has budgeted for overall expenditure of INR 27.8 trillion in 2019-20, an increase of 13% over the previous year’s estimates, while targeting a fiscal deficit of 3.4% in 2019-20 and 3% in 2020-21.
The interim budget for 2019-20 proposed several tax benefits for individuals and businesses. However, economists are skeptical about the government's revenue assumptions and achieving the fiscal deficit targets. While the budget aimed to boost incomes ahead of elections, higher spending may not be feasible and cuts could occur later in the year if tax revenues do not increase as projected.
The document summarizes key points from India's Budget for 2016-2017 presented by Kishan K Shenoy, Lester Max D souza, and Lathesh Kumar Shetty. It outlines economic growth of 7.6% in 2015-2016, challenges of global slowdown and increased fiscal burden. Allocations target agriculture, rural development, social sectors, education, healthcare, infrastructure, and job creation. Tax rates and slabs are adjusted, and certain deductions are proposed to phase out. Fiscal deficit is retained at 3.5% of GDP to balance growth and fiscal discipline.
The Union Budget for Fiscal Year 2018 aims to boost various sectors of the Indian economy through 10 themes including farmers, rural development, youth, infrastructure and financial sector reforms. It projects fiscal and revenue deficits lower than previous years and allocates increased funding for infrastructure, rural and agriculture development. Key proposals include expanding rural employment programs, increasing farm credit, developing affordable housing and listing more public sector companies to raise funds. The budget also focuses on increasing tax collections through measures like the proposed GST and data mining from demonetization.
Key Highlights on 10 big themes of Union Budget FY17-18emkayglobal
Key highlights on 10 themes of Union Budget FY17-18 – Farmers, rural population, youth, poor and underprivileged, infrastructure, financial sector, digital economy, public service, prudent fiscal management, tax administration.
The document summarizes key announcements from the Indian Union Budget 2020-21 across several sectors:
- Individual tax proposals include a new optional simplified personal tax regime, changes to residency rules, and taxation of employer contributions to provident funds above Rs. 750,000. Dividend income will now be taxed in the hands of recipients.
- Measures to stimulate growth include tax exemptions for sovereign wealth funds, no change in corporate tax rates but a reduced 15% rate for new power sector companies. Concessional borrowing rates were extended.
- Key sectors highlighted include agriculture and food processing, education and skill development, and infrastructure, transport, and power, with increased allocations and policy initiatives outlined
The Union Budget for 2017 was presented earlier than usual, on February 1st, to allow ministries to operationalize activities from April 1st. Key changes included merging the Railway Budget with the General Budget, abolishing the distinction between plan and non-plan expenditure, and focusing on growth in rural areas and digitizing the economy. Tax relief was provided for individual taxpayers and small companies, while rules on political donations and cash transactions were tightened. The budget aimed to curb black money and support the government's vision for the Indian economy.
The budget allocates funds across several key sectors of the Indian economy. It aims to double farmer incomes by 2022 by allocating Rs. 35,984 crore for agriculture and providing irrigation for 28.5 lakh hectares at a cost of Rs. 17,000 crore. It also increases allocations for rural development, social sectors like education and healthcare, and infrastructure development. While some taxes are increased on tobacco, luxury goods, and diesel vehicles, individual taxpayers below Rs. 5 lakh annual income and senior citizens receiving medical insurance of Rs. 130,000 will receive relief.
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.
The budget aims to boost growth while slowing the pace of fiscal deficit reduction. Key points include:
- GDP growth projected between 8-8.5% for 2015-2016
- Deficit target lowered to 3.9% of GDP
- Corporate tax to be reduced to 25% over 4 years
- Infrastructure investment to increase by 700 billion rupees
- Social programs expanded to promote health, education and employment.
India's Finance Minister Arun Jaitley announced the budget for fiscal year 2015-2016, aiming to balance growth with fiscal discipline. Key points include:
- GDP growth projected between 8-8.5%
- Fiscal deficit targeted at 3.9% of GDP
- Corporate tax to be reduced from 30% to 25% over four years
- Infrastructure investment to increase by 700 billion rupees
- Agricultural incomes and rural employment to be strengthened
The budget document provides details on key fiscal highlights including a GDP growth target of 9% and a fiscal deficit target of 4.6% of GDP. It outlines plans to lower the corporate tax surcharge and increase the MAT rate. Revenue deficits remain a concern. Spending on infrastructure will increase substantially while social sector spending will rise by 17%. Key reforms are planned for the insurance, pension, and banking sectors. However, concerns remain around achieving deficit targets given the underestimation of subsidies. Overall, the markets reacted modestly to the budget.
1) Only 2% of Indians file income tax returns due to fear of disclosure or complexity.
2) Various sources of income including salary, house property, business, capital gains, and others are outlined, with tax rates provided for different income levels and citizen types.
3) Tools for tax planning include deductions and allowances under Section 10 and Chapter VI A for items like housing loan interest, medical expenses, investments, education loans, and donations. Proper documentation is important for claiming deductions.
How Gst & Demonetization Affects Your Personal Wealthfinancialhospital
Highlights from the Seminar:
*How GST & Demonetization affect your Asset Classes like
Real Estate, Equity, Debt, & Gold.
*Investment approach in current geopolitical scenario
This document provides advice on financial planning. It discusses how people's spending habits have changed from earning, saving, and spending, to earning, spending, and paying monthly installments. It emphasizes the importance of financial planning and having different categories for short, mid, and long-term savings goals. Examples are provided for necessities, discretionary expenses, and long-term goals. The benefits of starting investments early and making regular contributions are shown. Finally, it outlines financial planning steps for different life stages and emphasizes finding the right financial advisor.
Financial planning is a long-term process of managing one's finances to achieve goals. It provides a roadmap to financial well-being and sustainable wealth creation. Many misconceptions exist, such as that it only involves budgeting or is only for the wealthy. Financial planning is needed due to risks like living too long in retirement, changing lifestyles, inflation, and lack of social security. It involves understanding assets, liabilities, priorities, timelines, and appropriate investment vehicles. Starting financial planning early allows greater benefits of compounding returns. Using systematic investment plans smooths out market volatility for better long-term returns. Financial planners can help develop and implement customized plans.
Real estate investing can still be beneficial, though it faces some challenges. It provides ongoing income from rent and appreciation over time. However, factors like demonetization, new regulations, and GST implementation have impacted the industry. Specifically, GST aims to streamline taxation but the rate is still uncertain. For residential housing, low interest rates may offset higher taxes, while affordable housing is currently exempt and investors hope this continues. Rental demand should keep the sector stable regardless of any GST on leases.
Things you should avoid for not paying tax this yearfinancialhospital
This document provides tips to avoid paying more tax this year. It recommends not claiming medical reimbursement if eligible expenses are below the Rs. 15,000 exemption limit. It also advises carrying forward capital losses to offset future capital gains and properly claiming eligible exemptions for house rent allowance, medical insurance premiums, and leave travel allowance. The document further suggests transferring provident funds to new employers instead of withdrawing within 5 years to avoid taxation.
The document summarizes the various types of returns required to be filed under the Goods and Services Tax (GST) regime in India. It discusses 18 different return forms including monthly, quarterly, annual returns to be filed by regular taxpayers, compounding taxpayers, Input Service Distributors, e-commerce operators, non-resident taxpayers, and others. The returns require reporting of outward and inward supplies, input tax credit claimed, tax payable, payments made, and other details. The returns are largely auto-populated based on information filed in other returns, and allow for modifications and corrections.
For newly married couples, financial planning is important to set priorities and evaluate needs. Short term planning includes insurance, savings of 6 months income, assets like cars and homes, and incidental expenses. Medium term includes real estate, children's education, and retirement plans. Long term focuses on higher education, assessing retirement funds, estate planning, and post-retirement expenses. It is advised to discuss finances openly, set monetary goals together, manage accounts jointly or individually, create budgets, have regular money meetings, take measured risks, build emergency funds, and trust each other. Financial planning helps fulfill goals but flexibility is also needed to adjust to life changes.
In every movie, at the end everything goes well and movie ends happily and if it didn’t, then... "Picture abhi baaki hai mere dost"
How happy we’ll be if our life turns out to be like a movie, no? But the truth is … Life is not a movie. We all know about the hardship and struggle of life. But YES, if we plan our finances and manage it properly then we can surly make the story of our life “Happy".
So where ever you are and in whatever condition, let's start planning our finance because."Picture abhi baaki hai mere dost...". We at financial Hospital is coming with a session on how to plan and where to find safe heaven for your finance. Read on to make yourself a super hero of your own life movie.
SIP is a method of investing a fixed sum, regularly, in a mutual fund scheme. SIP allows one to buy units on a given date each month, so that one can implement a saving plan for themselves.
SIP, one of the best investment tools to invest through. It is a very good option for beginners. You can also create wealth, by investing through SIPs.
Life insurance (or life assurance, especially in the Commonwealth), is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in the benefits.
Retirement planning is using your earnings to provide income, after you retire from work. Start planning for retirement now. We can help you use your savings today, to live a comfortable life tomorrow.
The document provides information about income tax rates and deductions in India. Some key points:
- Only 2% of the Indian population files income tax returns.
- Tax rates range from 0-30% depending on income level and citizen status (senior, very senior).
- Various deductions are available including housing loan interest, medical insurance, education loans, charity donations, and investments under Section 80C up to Rs. 150,000.
- Tax planning strategies include maximizing deductions, investing in a spouse or parent's name to take advantage of lower tax brackets, and claiming exemptions for allowances like transport, meals, and children's expenses.
The document discusses retirement planning and provides guidance on estimating retirement costs and investment options. It notes that people should plan early for retirement as the corpus needed is significant. Monthly retirement expenses of Rs. 20,000-80,000 would require investments of Rs. 483572-1934288 today at 8% return to last 30 years in retirement. Investment avenues discussed include PPF, SIPs, debt funds, annuity plans, and senior citizen savings schemes. Proper planning is necessary to ensure funds are available to live comfortably after stopping work.
The document discusses systematic investment plans (SIPs), public provident funds (PPFs), and compares the two options. SIPs allow regular small investments in funds and benefit from compounding returns over time. PPFs offer lower but guaranteed returns and have restrictions including a 15-year lock-in period. While both can fund long-term goals, SIPs provide more flexibility and opportunity for higher returns compared to PPFs. The document provides details on investment limits, interest rates, liquidity, and tax benefits of SIPs and PPFs to help decide which may be a better fit depending on an individual's needs and goals.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
2. Economic Growth to Continue
Adequate liquidity
Government Capex
Low Fiscal Deficit
Low Inflation
Low Interest Rates
Indian Economy
3. Major Changes in Budget Presentation
3
•Provides for Integrated Planning and development of Infrastructure
•Undoes the Colonial Legacy & political interference in Railway plans
Railways Merged with
Union Budget
•This allows for timely approval and allocation of resources for the Fiscal
•Government Expenditures and Plans can kick start from the beginning of
the financial year
•Expense categorization to be under Capital & Revenue Heads
•Reduces Policy complexity in implementation and monitoring
Budget Announcement
Date Preponed to 1st
Feb
Plan & Non Plan
Categorization Done
away with
4. Some Facts & Figures
Fiscal Deficit for FY18 at
3.2% of GDP,
Increased in Capital
Expenditure by 11%
YOY,
100% Village
Electrification by May
2018,
1 Crore new Houses
under PMAY by 2019
for the houseless and
those living in kutcha
houses,
Foreign Exchange
Reserve reached 361
Billions USD,
FDI grew 36% in H1
2016-17 over H1 2015-
16 despite 5% reduction
in global FDI inflows
5. Structural Reform in Financing Budgets
Source: FY18 Union Budget. As % ofGDP
Government by disciplining its Fiscal Deficit is looking to:
• Improve India’s International Credit Rating,
• Creates Headroom for RBI to reduce key policy rates and
• Makes investment/ borrowings for private sector cheap
6. Transform, Energise and Clean India
TRANSFORM the quality of governance
and quality of life of our people;
ENERGISE various sections of society, especially
the youth and the vulnerable, and enable them
to unleash their true potential;
CLEAN the country from the evils of corruption,
black money and non-transparent political funding
7. Themes to foster agenda
Farmers : committed to double the income in 5 years;
Rural Population : providing employment & basic infrastructure;
Youth : energising them through education, skills and jobs;
The Poor and the Underprivileged : strengthening the systems of social security,
health care and affordable housing;
Infrastructure: for efficiency, productivity and quality of life;
Financial Sector : growth & stability by stronger institutions;
Digital Economy : for speed, accountability and transparency;
Public Service : effective governance and efficient service delivery through people’s
participation;
Prudent Fiscal Management: to ensure optimal deployment of resources and
preserve fiscal stability;
Tax Administration: honouring the honest.
8. Farmers and Agriculture
Agricultural credit in 2017-18 at a record level of Rs. 10 lakh crores
60 days interest waiver
Support NABARD for computerisation and integration of all Primary
Agriculture Credit Societies with the Core Banking System of District
Central Cooperative Banks in 3 years.
Coverage under Fasal Bima Yojana scheme will be increased from 30%
of cropped area in 2016-17 to 40% in 2017-18 and 50% in 2018-19.
New mini labs in Krishi Vigyan Kendras (KVKs)
9. Rural Population
Aim to bring one crore
households out of poverty
and to make 50,000 Gram
Panchayats poverty free by
2019.
Women participation in
MGNREGA has increased to
55% from less than 48%
MGNREGA allocation the
highest ever at `Rs. 48,000
crores in 2017-18.
Pace of construction of
PMGSY roads accelerated to
133 km roads per day in
2016-17, against an avg. of
73 km during 2011-2014.
100% village electrification
by 1st May 2018
Total allocation for Rural,
Agriculture and Allied
sectors is Rs. 1.87 Lacs
crores
10. Infrastructure
TOTAL BUDGET for
Rail, Road and
Shipping – 2.41 Lacs
Crores
Capital and
Development Exp. In
railways -1.31 Lacs
Crores
Unmanned Level
Crossing (Broad
gauge) will be
eliminated by 2020,
New Railways Lines
– 3500 kms.,
500 Stations – with
Lifts and Escalators
SMS Based – Clean
my Coach
All Coaches with bio
toilets – 2019
New Metro Rail Act -
greater private
participation and
investment.
2,000 kms of coastal
connectivity roads
Airports in Tier 2
cities for operation
and maintenance in
PPP model
Optical Fiber
Broadband to 1.5
Lacs gram
panchayats.
Second phase of
Solar Park with
capacity of 20,000
MW.
11. Other Measures
Aadhar based Smart
Cards for Senior
Citizens containing
their health details
FIPB (Foreign
Investment
Promotion Board) to
be abolished
IRCTC, IRFC and
IRCON will be listed
in stock exchanges.
create an integrated
public sector ‘oil
major’
A new ETF with
diversified CPSE
stocks and other
Government
holdings
Rs. 10,000 crores for
recapitalisation of
Banks
Head Post Offices as
front offices for
Passport services
10 lakh new POS
terminals
2,500 crore digital
transactions
through UPI, USSD,
Aadhar Pay, IMPS
and debit cards
Aadhar Enabled
Payment System,
will be launched
shortly
12. Personal Income Tax
Tax Rate for individual
assesses between income
of Rs. 2.5 lakhs to 5 lakhs
reduced to 5% from the
present rate of 10%
Surcharge of 10% of tax
payable on categories of
individuals whose annual
taxable income is between
Rs. 50 lakhs and Rs. 1 crore.
Simple one-page Form for
individuals having taxable
income upto Rs. 5 lakhs
other than business income
Tax rebate of Rs. 2,500 if
Income is upto Rs. 3.5Lacs.
14. Tax to GDP – Big
improvement required
Source: Budget Speech
1.74
2.46
No. of Persons employed in
organised sector in 'cr
People not
filingtax
People filing
tax
3.79
1.81
No. of Persons employed in
Unorganised sector in 'cr
People not
filingtax
People filing
tax
No. of companies registered in
India in 'lacs
5.97
7.97
Companies
who filed tax
15. Tough roads for Non Compliance
Penalty of Rs. 5,000/-if return is filed after due dates before 31st Dec.
Penalty of Rs.10,000/- if filed after 31st Dec.
However, if the income is less then 5 lacs then the penalty will be lower at Rs.
1000.
Time period for revising a tax return is being reduced to 12 months.
Now Tax Authorities can open cases upto 10 years ( earlier 7 years) if search and
seizure operation reveals undisclosed income and assets worth over Rs. 50 Lacs.
16. Ease of Doing Business
The profit (linked
deduction) exemption
available to the start-ups
for 3 years out of 5 years
is changed to 3 years
out of 7 years.
MAT credit is allowed to
be carried forward up to
a period of 15 years
instead of 10 years at
present
Income tax for
companies with annual
turnover upto Rs. 50
crore is reduced to 25%
Threshold limit for audit
of business entities who
opt for presumptive
income scheme
increased from Rs. 1
crore to Rs. 2 crores.
Threshold for
maintenance of books
for individuals and HUF
increased from turnover
of 10 lakhs to 25 lakhs or
income from 1.2 lakhs to
2.5 lakhs
Under scheme for
presumptive taxation for
professionals with
receipt upto Rs. 50 lakhs
p.a. Advance tax can be
paid in one instalment
instead of four.
17. Go Digital…
Under scheme of presumptive income for small and
medium tax payers whose turnover is upto 2 crores,
the present, 8% of their turnover which is counted as
presumptive income is reduced to 6% in respect of
turnover which is by non-cash means.
No transaction above Rs. 3 lakh would be permitted
in cash subject to certain exceptions.
21. Sector BudgetProposal Nature of Impact Comments
Telecom
Proceeds from License fee and spectrum
charges from telecom service providersat
INR 443bn against INR 787bn in FY17RE Neutral
As per expectation government is not planning for
spectrum auction in FY18. INR 443bn comprises only
recurring charges and deffered payments from
earlier spectrumauctions
Budgeting of INR 6.9bn as extra budgetary
resourse for Hemisphere properties Positive Progress in Tata comm excess land monetisation
Impact of Budget on Key Sectors
Sector Budget Proposal Nature of Impact Comments
Capitalgoods
Defence capital acquisition outlay ofINR
865bn against INR 717bn for FY17RE Positive Growth of about 20% overFY17RE
Budgetary support towardsRailways
capital expenditure at INR 550 bnagainst
INR 463bn in FY17RE Neutral Inline withexpectation
Overall outlay for infrastructure
development at INR 3961bn against INR
3586bn in FY17RE Positive
Increase of 10.5% over last year provides scope for
EPC and equipment companies to grow
Outlay for IPDS and DDUGJY for
improvement in urban and rural,
transmission and distribution
improvement increased to INR 106 bn from
INR 79bn in FY17RE Positive
Increases the pie for EPC contractors and
equipment manufacturers
Section 80-IA sunset clause isnot extended Negative
22. Sector BudgetProposal Nature ofImpact Comments
Power Lower BCD on LNG from 5% to 2.5% Noimpact
Under Power Sector Development Fund, government was already
supplying LNG without any duties, taxes.
Sec 80-IA exemption not extended beyond
FY17E Negative
Largely in continuation with earlier stance, construction companies
claiming the benefit will have full tax in FY18E.
Infrastructure Roads sector outlay up 11% toINR1.24t Positive Positive for both developerand construction companies.
Railways Capex up 9% YoY toINR1.3t Positive Positive for contractors like L&T, KEC andKalpataru
Infrastructure status to Affordable housing Positive
RE sector focus contractors like Alhuwalia contractors, BL Kashyap,
etc could bebeneficiary.
RealEstate
Holding period reduced to 2 years, vs 3 years
for eligibilityof LTCG exemption Positive
Inventory churn would help better price discovery. Partly negative
for primary developer / new launches.
Setoff lossses under Housingproperty
restricted toINR2lac Negative
Lower setoff vs unlimited setoff earlier will lower investor
demand, positive in long termthough.
Infrastructure status to Affordable housing Positive
LT funding will help improve RE sector /developer outlook with
focus on low/mid incomehousing.
Units area at 30sq.mtr (municipal limit of 4
metro)/60sq.mtr on carpet basis, vs build up
area; 100% PAT dedn for developer, time
increased to 5 years vs 3 years. Positive
Developers with focus on low/mid income housing project would
benefitimmensely. These could also entice developers to reinvent
business model to cater to this large market pie.
Developer can have 1 year stock in trade for
completedbuilding Negative
While positive given earlier stance of zero holding allowance, the
developer holding high inventory in completed project will be
negatively impacted (higher tax burden, on no/deemed cash
flows). This could lead to higher inventory sell-off.
Impact of Budget on Key Sectors
23. Sector FY18 Budget Proposals Nature of Impact Comments
Oil & Gas
Customs duty on LNG cut from 5% to 2.5% Positive Minor savings of US$ 0.2/mmbtu (Rs 0.4/sc m) at current
spot price. Beneficial for cos. across the value chain viz.
Petronet LNG (savings in internal consumption & higher R-
LNG vols.), GAIL (lower input cost for petchem
segment), IGL, MGL, Gujarat Gas (spread improvement to
the extent benefit is retained or pass on to customers to
make CNG/PNG/natural gas slightly more competitive
against alternate fuel)
Petroleum subsidy allocation of INR 275 bn
for FY17E and INR 250 bn for FY18E
Neutral Subsidy allocation for FY17 is adequate. For FY18,
allocation is adequate assuming current oil price at USD
55/bbl. If oil price is higher, then monthly price hike on
kerosene and LPG has to continue or allocation to be
increased by INR 70-80 bn to keep oil cos. out of
subsidy net at USD 60/bbl oil price
No reduction in cess on crude oil Negative Expectation was it will reduce to 10% which would have
increased ONGC's and Oil India's EPS by INR 2.5/sh and
INR 5.5/sh respectively.
Proposal to create mega oil company Neutral Too early to determine impac t and will be determined by
through merging some cos. how merger is structured. However, it is a difficult to
proposition to implement due to opposition from
employees union.
FY18 Budget Proposals Nature of Impact
Metals & Mining
Customs duty on HRC for welded tubes and
pipes reduced from 12.5% to 10%
Positive Mildly positive for pipe cos. such as Welspun Gujarat,
Jindal Saw and Maharashtra Seamless (ERW)
Customs duty on nickel reduced from 2.5%
to Nil
Positive Beneficial for stainless steel producers
Aluminium ore export duty at 15% Neutral Bauxite already had export duty and now extended to
other ores including laterite.
Impact of Budget on Key Sectors
24. Sector BudgetProposal Nature of Impact Comments
Consumer Reduction in personal incometax Positive Will boost low ticket consumption
Increased spendingon MNREGA Positive Will boost FMCG consumption
6% excise hike oncigarette Positive
This is a moderate hike in tax against
a steep hike expected.
Impact of Budget on Key Sectors
Sector Budget Proposal Nature of Impact Comments
Agriculture Fertilizer subsidy - Total fertilizer subsidy allocated is INR700bn
(INR498bn for urea + INR202bn for complex fertilizers).
Requirement for FY18 is estimated currently to be INR550bn.
Hence incremental subsidy allocated (INR150bn)will benefit
fertilizer companies as portion of their prior period receivables
get paid. Positive
Positive for fertilizer companies. This
will decrease their working capital
requirements and improve the RoCEfor
the business.
Agricultural Credit - target for FY18 has been fixed at a record
level of INR1,000bn. To support flow of credit to farmers,
government to support NABARD for computerisation and
integration over 3 years at a cost of INR19bn Positive
Can help improve demand for
agricultural inputs
Crop Insurance - Pradhan Mantri Fasal Bima Yojna(PMFBY)
coverage to be increased from 30% of cropped area in FY17 to
40% in FY18 and 50% in FY19. Budget provision of INR90bn in FY18
vs budget provision of INR55bn in FY17 Positive
Can help improve demand for
agricultural inputs
Irrigation - Pradhan Mantri Krishi Sinchai Yojana (PMKSY)- Per
Drop More Crop, allocation has been increased to INR74bn from
earlier budget of INR58bn. In addition, a Long Term Irrigation
Fund has already been set up in NABARD. Prime Minister has
announced an addition of INR200bn to its corpus. This will take
the total corpus of this Fund to INR400bn. A dedicated Micro
Irrigation Fund will be set up in NABARD to achieve the goal, ‘per
drop more crop’. The Fund will have an initial corpus of INR50bn.
Positive
Can help improve demand for
agricultural inputs
25. Sector Budget Proposal
Nature of Impact
(Positive/Negative/Neutral) Comments
Cementand
BuildingMaterials
Infrastructure status to affordable Housing Positive Housing accounts for 60-65% ofoverall
cement consumption in India and this
will increase the overall cement
demand.
Housing demand will have spillover
effect on building materialsdemand.
It will be partially offset by slowdown in
investment led housing demand.
For affordable housing instead of built up area, 30sqm
and 60sqm of carpet area will be considered. 30 sqm in
municipal limits and 60 sqm for rest of country will be
considered
Positive
Allocated Rs 290bn under Pradhan Mantri Awas Yojana
in rural and urban v/s allocation of Rs 209 bn in previous
year. Net increase of Rs 81 bn. Proposes to complete 10
mn houses by 2019 for the houseless and those living in
kutchahouses
Positive
In a negative move for landlords (those who buy and
rent), the set-off loss against income from house
property has been limited to Rs200k/annum against no
priorlimit
Negative
Increase in budget allocation for highways from around
Rs 580bn to Rs 650bn. Addition of 200bn to dedicated
long term irrigation fund in Nabard
Mildly Positive Roads have a lessercontribution to
overall cement demand and irrigationis
more driven by state budgets.
Person whose land has got pooled under land pooling
scheme of AP government for creation of new capital
will be exempt from capital gains tax provided they
were holding it as on 2/6/2014
Positive Exemption of capital gains taxwill
incentivise people to sell land and
improve land acquisition for the
upcoming capital finally drivingcement
demand from thecapital
Cut in import duty on LNG from 5% to 2.5% Positive Tile players have around 20% of costsas
power and fuel and they will benefit to
the extent of the price cuts which will
be passed on by LNG players
Impact of Budget on Key Sectors