The document summarizes the key points from the Indian government's budget for 2013-2014. It outlines economic challenges like slowing growth and high deficits. It details spending increases for health, education, rural development, and agriculture. It proposes measures to boost investment, infrastructure, industry, and the financial sector. It outlines tax proposals including personal income tax cuts and changes to customs, excise, and service taxes.
In comparison to the less than ordinary and unimaginative budgetary proposals of yester years, Modi’s maiden budget comes as a welcome change from the norm. The proposals and reforms suggested in the Union Budget 2014-15 are ground breaking, specific with a good measure of thought & common sense and vastly catered for holistic growth of the economy.
The challenging circumstances of a slowing economy, soaring energy prices, inflation, fiscal and current account deficits do not provide adequate leeway to maneuver and hit the path of high growth. Yet the Budget provides a comprehensive plan and directional footprint towards overcoming these hurdles to sustainable growth of 7-8% over the next few years along with providing macro economic stability, lowered inflation, realistic fiscal health targeting and a manageable current account deficit.
The Finance Minister while presenting the budget takes cognizance of the fact that decisive action to fuel growth without populism is the need of the hour. And that resources for developmental expenditure cannot be raised at the cost of burdening the future generations with the legacy of debt. He goes on to emphasize the need to mobilize resources through both tax and non-tax revenues to feed the aspirational developmental expenditure.
In order to achieve this objective the Modi Government has taken head on the various issues plaguing the Indian economy and come out with imaginative and yet very practical and implementable reforms and measures.
India’s new finance minister, Arun Jaitley, presented his maiden Budget on July 10. Much has been expected from this government, which is widely considered to be pro-industry and reform-friendly.
While the Budget had significant announcement like the raising of foreign investment caps in defense and insurance, as well as a change in income-tax norms, it also set very ambitious growth targets.
Can Jaitley achieve them even as the global economy struggles to get back on track? This is an uphill task and will require more bold and politically tough decisions.
Share your feedback with us on twitter @MSLGROUP_India
In comparison to the less than ordinary and unimaginative budgetary proposals of yester years, Modi’s maiden budget comes as a welcome change from the norm. The proposals and reforms suggested in the Union Budget 2014-15 are ground breaking, specific with a good measure of thought & common sense and vastly catered for holistic growth of the economy.
The challenging circumstances of a slowing economy, soaring energy prices, inflation, fiscal and current account deficits do not provide adequate leeway to maneuver and hit the path of high growth. Yet the Budget provides a comprehensive plan and directional footprint towards overcoming these hurdles to sustainable growth of 7-8% over the next few years along with providing macro economic stability, lowered inflation, realistic fiscal health targeting and a manageable current account deficit.
The Finance Minister while presenting the budget takes cognizance of the fact that decisive action to fuel growth without populism is the need of the hour. And that resources for developmental expenditure cannot be raised at the cost of burdening the future generations with the legacy of debt. He goes on to emphasize the need to mobilize resources through both tax and non-tax revenues to feed the aspirational developmental expenditure.
In order to achieve this objective the Modi Government has taken head on the various issues plaguing the Indian economy and come out with imaginative and yet very practical and implementable reforms and measures.
India’s new finance minister, Arun Jaitley, presented his maiden Budget on July 10. Much has been expected from this government, which is widely considered to be pro-industry and reform-friendly.
While the Budget had significant announcement like the raising of foreign investment caps in defense and insurance, as well as a change in income-tax norms, it also set very ambitious growth targets.
Can Jaitley achieve them even as the global economy struggles to get back on track? This is an uphill task and will require more bold and politically tough decisions.
Share your feedback with us on twitter @MSLGROUP_India
The Union Budget for 2018-19 was proposed by Mr. Arun Jaitley on 1st February 2018. The budget proposes significant initiatives for rural & agricultural development, generation of employment, skill development and upgrading infrastructure, but, provides little incentive to the taxpayers. Sharing with you the highlights of this year's Budget.
Comprehensive analysis of indian budget 16 17Pankaj Walia
Happy to present my view and key features of the Indian Budget for 2016-2017.
Overall, a balanced budget to support the needs of the stressed sectors while simultaneously weighing the impact of additional burden on account of the recommendations of the 7th Central Pay Commission and the implementation of Defence OROP.
The Union Budget for 2018-19 was proposed by Mr. Arun Jaitley on 1st February 2018. The budget proposes significant initiatives for rural & agricultural development, generation of employment, skill development and upgrading infrastructure, but, provides little incentive to the taxpayers. Sharing with you the highlights of this year's Budget.
Comprehensive analysis of indian budget 16 17Pankaj Walia
Happy to present my view and key features of the Indian Budget for 2016-2017.
Overall, a balanced budget to support the needs of the stressed sectors while simultaneously weighing the impact of additional burden on account of the recommendations of the 7th Central Pay Commission and the implementation of Defence OROP.
The presentation gives us reasons for the success of Southwest Airlines in a very competitive American Airline Industry.
It also does a competitive analysis of SouthWest Airlines with its peers.
Government of Alberta Annual Report - presentation by Doug Horner, President of Treasury Board and Minister of Finance - June 30, 2014. You may also download this presentation at this address:
http://finance.alberta.ca/publications/annual_repts/govt/ganrep14/goa-2013-14-annual-report.html
This presentation is an attempt to summarize the salient points of the Indian Budget 2016-17.It is a presentation with basic details and its target audience are students undertaking Graduate level and MBA courses.
Finance Minister Arun Jaitley presented the Union Budget for 2016-17 and reaffirmed that the economy is on the right track. The budget is aimed at strengthening India's firewalls by ensuring macroeconomic stability and prudent fiscal management; driving growth through domestic demand; and economic reforms and policy initiatives to change lives for the better. With measured focus on social sector reforms and recapitalising India's banking system, this Budget has an overarching focus on improving agriculture, and scaling infrastructure, all of which bode well for the country. The government is now planning to rationalise and channel subsidies to the poor by increasing the burden on the rich, and by increasing spending on public welfare through its own kitty.
Mr. Jaitley said the Union Budget is aimed at improving rural infrastructure and increasing rural income, as the biggest challenge to the economy is agrarian distress. Applauding the budget presented by the Finance Minister, Prime Minister Narendra Modi said the Budget is pro-village, pro-poor and pro–farmers, and is focused on bringing about qualitative changes in the country through a slew of time-bound programmes.
The attached note captures key highlights and summarises major announcements in the Budget.
Please reach out to us should you wish to understand more about the Union Budget and its impact on your business
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)
Key Highlights of Union Budget 2012 India presented by Finance Minister Pranab Mukharjee Prepared by vgyan.com, Shiv Kumar Agrawal.
https://www.facebook.com/vgyanuniversity
https://twitter.com/#!/vgroupsIndia
https://plus.google.com/b/108259517886515557552/
http://www.vgyan.com/
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.
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It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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2. THE ECONOMY AND THE CHALLENGES
• Slowdown in Indian economy has to be seen in the
context of slowing global economic growth from 3.9
per cent in 2011 to 3.2 per cent in 2012
• Getting back to potential growth rate of 8 percent is
the challenge facing the country.
• 11th Plan period had average growth rate of 8 percent,
highest during any Plan period, entirely under the UPA
Government.
• High growth rate can again be achieved through
cooperation.
• ‘Higher growth leading to inclusive and sustainable
development’ to be the mool mantra.
3. Fiscal Deficit, Current Account Deficit
and Inflation
• A new fiscal consolidation path with fiscal deficit at 5.3
per cent of GDP this year and 4.8 per cent of GDP in
2013-14 announced by the Government.
• Foreign investment in an imperative in view of the high
current account deficit (CAD).
• FII, FDI and ECB three main source of CAD Financing.
Foreign investment that is consistant with our
economic objectives to be encouraged.
• WPI inflation to about 7 per cent and core inflation to
about 4.2 percent.
• Food Inflation is worrying but needed action is taken
by govt.
4. •
THE PLAN AND BUDGETARY ALLOCATIONS
• Revised Estimates (RE) of the expenditure in
2012-13 at 96 per cent of the Budget
• During 2013-14, BE of total expenditure of `
16,65,297 crore and of Plan Expenditure at `
5,55,322 crore.
• Plan Expenditure in 2013-14 to grow at 29.4
per cent over Revised Estimates for the
current year.
5. Health and Education
• 37,330 crore allocated to the Ministry of
Health & Family Welfare
• Ayurveda, Unani, Siddha and Homoeopathy
are being mainstreamed. Allocation of 1,069
crore to Department of AYUSH.
• 1,650 crore allocated for six AIIMS-like
institutions.
• 27,258 crore provided for Sarva Shiksha
Abhiyaan (SSA).
6. Continue…
• An increase of 25.6 per cent over RE of the
current year for investments in
• Rashtriya Madhyamik Shiksha Abhiyan
(RMSA).
• Mid Day Meal Scheme (MDM) to be provided `
13,215 crore.
7. Rural Development
• Allocation of 80,194 crore in 2013-14 for
Ministry of Rural Development marking an
increase of 46% over RE 2012-13
• Proposal to carve out PMGSY-II and allocate a
portion of the funds to the new programme
that will benefit States such as Andhra
Pradesh, Haryana, Karnataka, Maharashtra,
Punjab and Rajasthan.
8. AGRICULTURE
• Average annual growth rate of agriculture and
allied sector was 3.6% during XI Plan against
2.5% and 2.4% in IX and X plans respectively.
• In 2012-13, total food-grain production will be
over 250 million tonnes
• 27,049 crore allocated to Ministry of
Agriculture, an increase of 22 per cent over
the RE of current year
• Bringing green revolution to eastern India a
remarkable success. 1,000 crore allocated in
2013-14
9. Continue…
• Allocation made for pilots programme on Nutri-Farms
for introducing new crop varieties that are rich in
micro-nutrients.
• National Institute of Biotic Stress Management for
addressing plant protection issues will be established
at Raipur, Chhattisgarh.
• The Indian Institute of Agricultural Bio-technology will
be established at Ranchi, Jharkhand.
• Pilot scheme to replant and rejuvenate coconut
gardens implemented in some districts of Kerala and
the Andaman & Nicobar extended to entire State of
Kerala.
10. INVESTMENT, INFRASTRUCTURE AND
INDUSTRY
• Need of new and innovative instruments to mobilise
funds for investment in infrastructure sector. Measures
such as:
– Infrastructure Debt Funds (IDF) to be encourged,
– IIFCL to offer credit enhancement.
– Infrastructure tax-free bond of ` 50,000 crore in 2013-14,
– Build roads in North eastern states and connect them to
Myanmar with assistance from WB & ADB, * Raising
corpus of Rural Infrastructure Development Fund (RIDF) to
` 20,000 crore and
– 5,000 crore to NABARD to finance construction for
warehousing. Window to Panchayats to finance
construction of godowns.
11. Saving
• Need to incentivise greater savings by
household sector in financial
instrumnets.Following measures proposed:
– Rajiv Gandhi Equity Savings Scheme to be
liberalised.
– Additional deduction of interest upto ` 1 lakh for
a person taking first home loan upto ` 25 lakh
during period 1.4.2013 to 31.3.2014
– In consultation with RBI, instruments protecting
savings from inflation to be introduced.
12. • Delhi Mumbai Industrial Corridor (DMIC) to be
provided additional funds during2013-14
within the share of the Government of India in
the overall outlay, if required
National Waterways
A bill to declare the Lakhipur-Bhanga stretch of river Barak in
Assam as the sixth national waterway to be moved in
Parliament.
13. Oil and Gas
• A policy to encourage exploration and production of
shale gas will be announced.
• The 5 MMTPA LNG terminal in Dabhol, Maharashtra
will be fully operational in 2013-14.
Coal
• In the medium to long term need to reduce our
dependence on imported coal.
• One way forward is to devise a PPP policy framework
with Coal India Limitedas one of the partners.
14. Power
• Guidelines regarding financial restructuring of
DISCOMS have been announced.
• State Government urged to prepare the
financial restructuring plan, quickly signMoU
and take advantage of the scheme.
15. FINANCIAL SECTOR
• Banking- Compliance of public sector banks
with Basel III regulations to be ensured.
• Insurance-proposals finalised with IRDA such
as empowering insurance companies to open
branches in Tier-II cities
• Rashtriya Swasthya Bima Yojana to be
extended to other categories
16. Capital Market
• SEBI will simplify the procedures and prescribe
uniform registration and other norms for entry
for foreign portfolio investors.
• where an investor has a stake of 10 per cent or
less in a company, it will be treated as FII and,
where an investor has a stake of more than10 per
cent, it will be treated as FDI will be laid.
• Small and medium enterprises, to be permitted
to list on the SME exchange without being
required to make an initial public offer (IPO).
• Stock exchanges to be allowed to introduce a
dedicated debt segment on the exchange.
17. OTHER PROPOSALS
• Backward Regions Grant Fund
• Skill Development-Target of skilling 50 million
people in the 12th Plan period, including 9
million in 2013-14.
• Defence
• Institutions of Excellence-4institute
• Panchayati Raj
• Ghadar Memorial
18. Three promises
• Promises made to woman, youth and poor.
• Nirbhaya Fund- for Girl children & women
• National Skill Development Corporation to set
the curriculum and standards for training in
different skills.
• “Aapka paisa aapke haath” for poor
19. Budget Estimates
• Plan expenditure is placed at 5,55,322 crore.
• Non Plan Expenditure is estimated at ` 11,09,975
crore.
• Fiscal deficit for the current year contained at 5.2
per cent and for the year 2013-14 at 4.8 per cent.
• Revenue deficit for the current year at 3.9 per
cent and for the year 2013-14 at 3.3 per cent.
• By 2016-17 fiscal deficit to be brought down to 3
per cent, revenue deficit to 1.5 per cent and
effective revenue deficit to zero per cent.
20. TAX PROPOSALS
• In short term need to reclaim peak of 11.9 per cent of tax GDP ratio
achieved in2007-08.
Direct Tax
• No case to revise either the slabs or the rates of Personal
Income Tax
• relief for Tax Payers in the first bracket of 2 lakhs to 5 lakhs.
A tax credit of 2000 to every person with total income upto
5 lakhs.
• Securitisation Trust to be exempted from Income Tax.
further tax on income received by investors from the Trust.
• Proposal to increase the rate of tax on payments by way of royalty
and fees for technical services to non-residents from 10 percent to
25 percent.
21. • TDS at the rate of 1 percent on the value of
the transfer of immovable properties where
consideration exceeds 50 lakhs. Agricultural
land to be exempted.
• Modified provisions of GAAR will come into
effect from 1.4.2016.
•
22. Indirect Taxes
• No change in the normal rates of 12 percent
for excise duty and service tax.
• No change in the peak rate of basic customs
duty of 10 perent for non-agricultural
products.
23. Customs
• Duty on specified machinery for manufacture of
leather and leather goods including footwear
reduced from 7.5 to 5 percent.
• Duty on Set Top Boxes increased from 5 to10
percent.
• Duty on raw silk increased from 5 to 15 percent.
• Duty on imported luxury goods such as high end
motor vehicles, motor cycles, yachts and similar
vessels increased.
24. Excise duty
• Relief to readymade garment industry.
• Handmade carpets and textile floor coverings of coir
and jute totally exempted from excise duty.
• Duty on mobile phones priced at more than 2000
raised to 6 percent.
• MRP based assessment in respect of branded
medicaments of Ayurveda, Unani, Siddha, Homeopathy
and bio-chemic systems of medicine to reduce
valuation disputes.
• Specific excise duty on cigarettes increased by about
18 percent. Similar increase on cigars, cheroots and
cigarillos
25. Service Tax
• Maintain stability in tax regime.
• Exemption of Service Tax on copyright on
cinematography limited to films exhibited in
cinema halls
• A onetime scheme called ‘Voluntary
Compliance Encouragement Scheme’
proposed to be introduced.
26. Good and Services Tax
• A sum of ` 9,000 crore towards the first
installment of the balance of CST
compensation provided in the budget.
• Work on draft GST Constitutional amendment
bill and GST law expected to be taken forward.