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.
A Summary of Budget 2016!
Hon. Finance Minister Mr.Arun Jaitley presented a resilient India Budget 2016 which spells the ‘Transformative Agenda’ for the India Economy identifying nine key pillars for the GDP growth. Team RAMA has presented an overall overview of the Union Budget – 2016, summarised key policies changes and Direct & Indirect taxes proposals in brief for easy understanding and quick reference. Hope you will find it useful.
Warm regards & happy reading!
- Ram Agarwal & Associates.
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
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.
A Summary of Budget 2016!
Hon. Finance Minister Mr.Arun Jaitley presented a resilient India Budget 2016 which spells the ‘Transformative Agenda’ for the India Economy identifying nine key pillars for the GDP growth. Team RAMA has presented an overall overview of the Union Budget – 2016, summarised key policies changes and Direct & Indirect taxes proposals in brief for easy understanding and quick reference. Hope you will find it useful.
Warm regards & happy reading!
- Ram Agarwal & Associates.
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
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.
89 irrigation projects, requiring Rs. 86,500 crore in next five years, to be fast tracked. 23 of these projects to be completed before 31st March, 2017.
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
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
The document gives highlights from key sectors – agriculture and rural development, banking, financial services and insurance, defence and aviation, e-commerce and retail, energy, FMCG, food & beverages, infrastructure and housing, manufacturing, railways, social welfare, steel and mining, and technology IT & telecom.
We all welcome the Union Budget 2016-17 and consider it reformist budget aimed at creating strong base for economic growth.
The budgetary proposals are built on transformative agenda standing on nine (9) pillars, which could be regarded as facilitators to the various programs of national importance (7 programs) like Start-up India, Digital India, Make in India, Smart India, Stand-up India, Skill India and Clean India.
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
It gives me a pleasure to present the summary and analysis of Union Budget 2016.
While you may have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2016 on You, Your company and Your sector.
Hope you find this analysis useful in taking business decisions and align your company's strategy with over all economic climate for the upcoming financial year.
Would love to hear your feedback on the usefulness of the same.
Thanks a lot.
89 irrigation projects, requiring Rs. 86,500 crore in next five years, to be fast tracked. 23 of these projects to be completed before 31st March, 2017.
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
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
The document gives highlights from key sectors – agriculture and rural development, banking, financial services and insurance, defence and aviation, e-commerce and retail, energy, FMCG, food & beverages, infrastructure and housing, manufacturing, railways, social welfare, steel and mining, and technology IT & telecom.
We all welcome the Union Budget 2016-17 and consider it reformist budget aimed at creating strong base for economic growth.
The budgetary proposals are built on transformative agenda standing on nine (9) pillars, which could be regarded as facilitators to the various programs of national importance (7 programs) like Start-up India, Digital India, Make in India, Smart India, Stand-up India, Skill India and Clean India.
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
It gives me a pleasure to present the summary and analysis of Union Budget 2016.
While you may have the snapshot, here is a document which will not only give you crisp highlights, but would also decode the impact of Budget 2016 on You, Your company and Your sector.
Hope you find this analysis useful in taking business decisions and align your company's strategy with over all economic climate for the upcoming financial year.
Would love to hear your feedback on the usefulness of the same.
Thanks a lot.
Rs.14000 per month pay for workers, 8% sales tax on sugar and 31% corporate tax are laudable interventions in budget. Prices of laptops and computers will decrease in Pakistan.
Highlights of Changes in Direct & Indirect Taxes in 2016-2017 budget
Direct Tax include Income tax,CHANGES IN INDIRECT TAXES - (CUSTOMS ACT, 1962 ,CENTRAL EXCISE ACT, 1944 ,AMENDMENTS IN SERVICE TAX )
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.
Edelman India Public Affairs team provides an analysis of the Union Budget 2018-19 tabled in Parliament on Feb 1 -- featuring opinions from eminent economists and industry experts.
Contributors include:
Mr. T.S. Vishwanath
Partner, APJ-SLG Law Offices and Senior Advisor, Edelman India
Mr. Nirankar Saxena
Deputy Secretary General, FICCI
Dr. Geethanjali Nataraj
Professor of Applied Economics, Indian Institute of Public Administration
Dr. Amir Ullah Khan
Development Sector Economist, Professor and Director at the Maulana Azad National Urdu University, Visiting faculty of Economic Policy at the Indian School of Business
Mr. Neeraj Bansal
Partner and Head – ASEAN Corridor and Building, Construction and Real Estate sector, KPMG in India
Mr. Ravi S. Kochak
Former Additional Member (Production Units), Indian Railways
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
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.
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)
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
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RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
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➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
3. 3
FOREWARD
The Union Budget of 2016-17 was the second full budget presented
by the Modi led government and was in the response to mounting
expectations of investors, both domestic and foreign.
Although, the financial year 2015-2016 did not see much headway
in the biggest and long pending reforms like Goods and Service Tax,
Land Aquisition Bill and Bankruptcy bill, yet, Honorable Finance
Minister still had lot many expectations to answer from the
industry, common man and the investors. Reduction in corporate
income tax rates while rationalising the exemptions and deductions
was one of the key aspect to ponder upon. Other balancing acts the
finance minister is expected to manage are between economist’s
outlook on fiscal deficit and demands of industry for increased
spending, distressed sectoral demands like agriculture, acts to
further accelerate Make in India drive by pushing manufacturing,
power and infra and of course overall further ease in doing
business.
India’s 7.6 percent growth rate in GDP for year 2015-2016 was the
green shrub in the global parched economies. International
Monetary Fund mentioned India to be in the bright spot. However,
exchange rates are under a huge pressure and also the investor
sentiments seems to be very pessimistic evidently visible in
plummeted stock market in the recent days. The Finance Minister
was supposed to walk a tightrope while delivering this budget.
The budget clearly did not disappoint as it gave due importance to
all needy and focused sections of the economy and tried to enhance
the ease-of-doing business while keeping its focus on infrastructure
development.
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.
One of the biggest challenges, inflation, has been on a declining
mode. The global oil prices crash gave much needed tailwind to the
government while export sales had plummeted due to weak global
economic demands.
My key take aways from the budget would be:
1. Government plan to skill 1 crore youth in next 3 years
2. Infrastructure push: Increased capital outlay of INR 218,000
crores
3. 10,000 KM of National Highways in FY 2016-2017
4. MGNREGA allocation hiked to INR 38,500 crores, highest ever
5. 1st time home buyers to get additional deduction of INR 50,000
on interest
6. Government sets FY17 disinvestment target at Rs 56,500 crore
7. Nuclear sector to get INR 3,000 crore yearly allocation
8. Dispute clearance windows for all assesses including those
grappling with retrospective tax amendments
9. 100% FDI in marketing of food products
4. TABLE OF CONTENTS
1. FORWARD
2. MACRO ECONOMIC INDICATORS
3. BIG BANG ANNOUNCEMENTS
4. BUDGET HIGHLIGHTS
5. SECTORS, INDUSTRIES AND FOREIGN INVESTORS
4
6. 6
MACRO ECONOMIC INDICATORS
The Macros 2015-2016
Actuals
2016-2017
Estimated
GDP growth
Based on economic survey-rational one
7.6% 7-7.75%
Inflation
Trending down, FY17(E) 5%
5.4% 5%
Fiscal deficit
Aimed at 3.5% by FY 17
3.9% 3.5%
Current account deficit
Drop in Oil prices
1.4% 1.3%
Industrial growth
Need a push
3% 2.9%
Foreign exchange reserves 350 Billion Dollars N.A
8. Date8
Economist’s view
prevails-Fiscal
deficit intact
Education, Skills
and Job Creation
BIG BANG ANNOUNCEMENTS
9 distinctive pillars
includes Governance,
Ease of Doing Business
and Tax reforms
3 Major schemes for
weaker sections
Spending increased on
priority areas: Farm,
Rural, Social, Infra
and Recapitalization of
Banks
9. 9
ECONOMIST’S VIEW PREVAILS | FISCAL DEFICIT INTACT
• Honorable Finance Minister believed that prudence lies in adhering
to the fiscal targets. Consequently, the fiscal deficit in RE
2015-16 and BE 2016-17 have been retained at 3.9% and
3.5% of GDP respectively.
• To improve the quality of Government expenditure, every new
scheme being sanctioned by Government will have a sunset date
and outcome review.
11. 11
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Farm Mission: Double the income of farmers by 2022, Total Allocation INR 35,984 crores
• ‘Pradhan Mantri Krishi Sinchai Yojana’ scheme to bring INR 28.5 lakh hectares under irrigation
• Dedicated Long Term Irrigation Fund in NABARD with an initial corpus of about INR 20,000 crore
• Sustainable management programme of ground water resources
• Soil Health Card Scheme to provide farmers information about nutrient level of the soil helping them making judicious use of
fertilizers.
• 2,000 model retail outlets of Fertilizer companies will be provided with soil and seed testing facilities
• Fertilizer companies to co-market city compost to increases the efficacy of chemical fertilizer
• Organic farming to be promoted under ‘Parmparagat Krishi Vikas Yojana’. Also, a value chain based organic farming scheme called
“Organic Value Chain Development in North East Region” to find local and international demand for marketing the organic products
• Farmers to access the market: Unified Agriculture Marketing Scheme containing common e-market platform in selected 585 regulated
wholesale markets.
• Pradhan Mantri Gram Sadak Yojana (PMGSY) to be ramped up to improve connectivity of rural areas
• Agricultural credit in 2016-17 will be an all-time high of INR 9 lakh crores.
• Crop Insurance: Path breaking Crop Insurance Scheme approved, namely, Prime Minister Fasal Bima Yojana.
• 3 initiatives: Decentralized procurement, online procurement system with Food Corporation of India and effective Pulses procurement
12. 12
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Rural sector objectives: Allocation of INR 38,500 crores for Mahatma Gandhi National Rural
Employment Gurantee Act (MGNREGS), overall allocation INR 87,765 Crores
• Grant in Aid to Gram Panchayats and Municipalities, quantum jump of 228% compared to the previous five year
period. To transform villages and small towns. Ministry of Panchayati Raj to work with States and evolve guidelines
• 300 Rurban Clusters to incubate growth centres in rural areas by providing infrastructure amenities and market access for
the farmers and to expand employment opportunities for the youth.
• 5542 villages have been electrified. Government to achieve 100% village electrification by 1 May, 2018.
• To promote Swachh Bharat Abhiyan, priority allocation from Centrally Sponsored Schemes will be made to reward
villages that have become free from open defecation
• Digital Literacy Mission Scheme for rural India to cover around 6 crore additional households within the next 3 years.
• Aiming dispute free titles of land, The National Land Record Modernisation Programme revamped under the Digital
India Initiative and will be implemented as a Central sector scheme with effect from 1st April, 2016.
13. 13
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Social Sector including health care: Massive mission to provide LPG connection in the name of
women members of poor households. Scheme to cover a total of 5 crore BPL households in coming 3 years.
• For poor and economically weak families, New health protection scheme to provide health cover up to Rs. One lakh per family and
an additional top-up package up to INR 30,000 for senior citizens
• 3,000 Stores Jan Aushadhi Yojana to open during 2016-17 in order to supply generic drugs at affordable prices
• ‘National Dialysis Services Programme’ to provide dialysis services in all district hospitals. Exemption to certain parts of dialysis
equipment from basic customs duty, excise/CVD and SAD.
“Stand Up India Scheme” to promote entrepreneurship among SC/ST and women. Scheme to facilitate at least two such projects per
bank branch, one for each category of entrepreneur.
14. 14
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Education, Skills and Job Creation
• To focus on quality of education, 62 new Navodaya Vidyalayas will be opened in the remaining uncovered districts over the next two
years:
• To empower Higher Educational Institutions to help them become world class teaching and research institutions, an enabling
regulatory architecture will be provided to ten public and ten private institutions
• Higher Education Financing Agency (HEFA) with an initial capital base of INR 1,000 crores.
• To help validate authenticity, safe storage and easy retrieval of School Leaving Certificates, College Degrees, Academic Awards and Mark
sheets, on the pattern of a Securities Depository, a Digital Depository to be established.
• To set up 1500 Multi Skill Training Institutes across the country
• Entrepreneurship Education and Training will be provided in 2200 colleges, 300 schools, 500 Government ITIs and 50 Vocational
Training Centres through Massive Open Online Courses. Aspiring entrepreneurs, particularly those from remote parts of the country, will
be connected to mentors and credit markets.
• To incentivize creation of new jobs in the formal sector, Government to pay the Employee Pension Scheme contribution of 8.33% for
all new employees enrolling in EPFO for the first three years of their employment.
• 80JJAA to provide deduction of 30% of the emoluments paid to new employees (having monthly salary upto INR 25,000 and for whom
the government is not paying the entire pension scheme contribution) for three years.
• Voluntarily adoptable Model Shops and Establishments Bill to give option to small shops to remain open on all seven days of the
week. This will generate further employment.
15. 15
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Infrastructure and Investment: Total outlay INR 221,246 Crores
• Allocation of INR 55,000 crores for Roads and Highways, further topped up by additional INR 15,000 crores to be raised by NHAI
through bonds. Total investment in the road sector, including Pradhan Mantri Gram Sadak Yojana (PMGSY) allocation, would be INR
97,000 crores during 2016-17.
• Together with the capital expenditure of the Railways, the total outlay on roads and railways will be INR 2,18,000 crores in
2016-17.
• To approve nearly 10,000 kms of National Highways in 2016-17. Nearly 50,000 kms of State highways to be up-graded as
National Highways.
• Abolition of permit-raj: To enact necessary amendments in the Motor Vehicles Act in order to open up the road transport sector in
the passenger segment. Entrepreneurs will be able to operate buses on various routes, subject to certain efficiency and safety norms.
• Civil aviation: 160 airports and air strips to be revived with State Governments to develop regional connectivity.
• Proposal under consideration to incentivize gas production from deep-water, ultra deep-water and high pressure-high temperature
areas, which are presently not exploited on account of higher cost and higher risks
• Comprehensive plan being drawn up, spanning next 15 to 20 years, to augment the investment in nuclear power generation.
Budgetary allocation up to INR 3,000 crore per annum, together with public sector investments.
• Mobilisation of additional infrastructure finances may be permitted to the extent of INR 31,300 crore by NHAI, PFC, REC, IREDA,
NABARD and Inland Water Authority through raising of Bonds during 2016-17
16. 16
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Infrastructure and Investment…..:
• 3 new initiatives to reinvigorate private sector:
(i) A Public Utility (Resolution of Disputes) Bill to be introduced during 2016-17 to streamline institutional arrangements for
resolution of disputes in infrastructure related construction contracts, PPP and public utility contracts;
(ii) Guidelines for renegotiation of PPP Concession Agreements to be issued, keeping in view the long term nature of such
contracts and potential uncertainties of the real economy, without compromising transparency;
(iii) A new credit rating system for infrastructure projects which gives emphasis to various in-built credit enhancement structures
to be developed, instead of relying upon a standard perception of risk which often result in mispriced loans.
• New policy for management of Government investment in Public Sector Enterprises, including disinvestment and strategic sale,
has been approved. NITI Aayog to identify opportunities for strategic sale.
17. 17
SPENDING INCREASED ON PRIORITY AREAS | FARM, RURAL,
SOCIAL, INFRA AND RECAPITALIZATION OF BANKS
Financial Sector Reforms
• Code on Resolution of Financial Firms will be introduced as a Bill to serve as a resolution mechanism to deal with bankruptcy
situations in banks, insurance and financial sector entities. Together with the Insolvency and Bankruptcy Code 2015, when enacted,
will provide a comprehensive resolution mechanism for our economy.
• Amendment in RBI Act 1934 to provide statutory basis for a Monetary Policy Framework and a Monetary Policy Committee
through the Finance Bill 2016.
• Financial Data Management Centre to facilitate integrated data aggregation and analysis in the financial sector
• To improve retail participation in Government securities, RBI will facilitate their participation in the primary and secondary
markets through stock exchanges and access to NDS-OM trading platform.
• New derivative products to be developed by SEBI in the Commodity Derivatives market.
• Measures to facilitate deepening of corporate bond market to be introduced
• To tackle the problem of stressed assets in the banking sector, proposed amendments in the SARFAESI Act 2002 to enable the
sponsor of an ARC to hold up to 100% stake in the ARC and permit non-institutional investors to invest in Securitization Receipts.
• Seed capital of INR 25,000 crores introduced to support the Banks and to support credit growth
• Bank Board Bureau will be operationalized during 2016-17 and a roadmap for consolidation of Public Sector Banks will be
spelt out and Debt Recovery Tribunals will be strengthened
• General Insurance Companies owned by government to be listed in stock exchanges
• Pradhan Mantri Mudra Yojana (PMMY) target increased to INR 180,000 crores. To benefit entrepreneurs.
18. 18
GOVERNANCE AND EASE OF DOING BUSINESS
• 3 specific initiatives
(i) Introduction of a bill for Targeted Delivery of Financial and Other Subsidies, Benefits and Services by using the Aadhar framework. A
social security platform will be developed using Aadhar to accurately target beneficiaries.
(ii) Proposal to introduce Direct Benefit Transfer on pilot basis for fertilizer in a few districts across the country, with a view to
improving the quality of service delivery to farmers.
(iii)Automation facilities to be provided in 3 lakh Fair Price Shops by March 2017.
• Introduction of a bill to amend the Companies Act, 2013 which will also improve the enabling environment for start-ups. The
registration of companies will also be done in one day.
19. 19
TAX REFORMS
Direct Taxes
• Individuals with income not exceeding INR 5 lakhs, proposal to raise the ceiling of tax rebate under section 87A from INR
2,000 to INR 5,000. 2 crore tax payers to get a relief of INR 3,000 in their tax liability.
• Proposal to increase the limit of deduction in respect of rent paid under section 80GG from INR 24,000 per annum
to INR 60,000 per annum (for those who do not have any house)
• Turnover limit to avail Presumptive taxation scheme increased to INR 2 crores from INR 1 Crore. For professionals, the
limit of professional receipts has been increased up to INR 50 lakh with the presumption of profit being 50% of the gross
receipts.
• Reduction in corporate income tax rate to be calibrated with the gradual phasing out of exemptions and deductions
available under various sections:
Changes in Corporate income tax rate:
(a) The new manufacturing companies incorporated on or after 1.3.2016 are proposed to be given an option to be
taxed at 25% + surcharge and cess provided they do not claim profit linked or investment linked deductions and do not
avail of investment allowance and accelerated depreciation.
(b) Proposal to lower the corporate income tax rate for the next financial year of relatively small enterprises i.e companies
with turnover not exceeding INR 5 crore (in the financial year ending March 2015), to 29% plus surcharge and cess.
20. 20
TAX REFORMS
Direct Taxes
• Exemptions being phased out:
(a) The accelerated depreciation provided under IT Act will be limited to maximum 40% from 1.4.2017.
(b) The benefit of deductions for Research would be limited to 150% from 1.4.2017 and 100% from 1.4.2020.
(c) The benefit of section 10AA to new SEZ units will be available to those units which commence activity before 31.3.2020.
(d) The weighted deduction under section 35CCD for skill development will continue up to 1.4.2020.
• For Startups set up during April 2016 to March 2019, 100% deduction of profits for 3 out of 5 years for startups. MAT will
apply in such cases. Capital gains will not be taxed if invested in regulated/notified Fund of Funds and by individuals in notified
startups, in which they hold majority shares.
• 10% rate of tax on income from worldwide exploitation of patents developed and registered in India
• ARC’s trusts and securitization trusts to get Income Tax pass through: income will be taxed in the hands of the investors
instead of the trust. However, the trust will be liable to deduct tax at source
• The period for getting benefit of long term capital gain regime in case of unlisted companies is proposed to be reduced from
three to two years.
• Non-banking financial companies shall be eligible for deduction to the extent of 5% of its income in respect of provision for
bad and doubtful debts.
• Government committed for General Anti Avoidance Rules (GAAR) to be implemented from 1.4.2017
• Finance Bill, 2016 to include provision for requirement of country by country reporting for companies with a consolidated revenue of
more than Euro 750 million, in order to support BEPS initiative of OECD and G-20
21. 21
TAX REFORMS
Direct Taxes….
• Finance Bill, 2016 to include provision for requirement of country by country reporting for companies with a consolidated revenue of
more than Euro 750 million, in order to support BEPS initiative of OECD and G-20
• Proposal to make withdrawal up to 40% of the corpus at the time of retirement tax exempt in the case of National Pension Scheme
• For superannuation funds and recognized provident funds, including EPF, the same norm of 40% of corpus to be tax free will apply
in respect of corpus created out of contributions made after 1.4.2016
• Proposal for a monetary limit for contribution of employer in recognized Provident and Superannuation Fund of INR 1.5 lakh per
annum for taking tax benefit.
• 100% deduction for profits to an undertaking from a housing project for flats upto 30 sq. metres in four metro cities and 60 sq.
metres in other cities, approved during June 2016 to March 2019, and is completed within three years of the approval. Minimum Alternate
Tax will, however, apply to these undertakings
• Deduction for additional interest of INR 50,000 per annum for loans up to INR 35 lakh sanctioned during the next financial year,
provided the value of the house does not exceed INR 50 lakh
• Proposal to exempt Dividend Distribution Tax for distribution made out of income of SPV to the Real Estate Investment Trusts
having specified shareholding
• Tax at the rate of 10% of gross amount of dividend will be payable by the recipients, that is, individuals, HUFs and firms receiving
dividend in excess of INR 10 lakh per annum
• Increase in surcharge from 12% to 15% on persons, other than companies, firms and cooperative societies having income above INR 1
crore
22. 22
TAX REFORMS
Direct Taxes….
• Tax collection at source at the rate of 1% on purchase of luxury cars exceeding value of INR 10 lakhs and purchase of goods
and services in cash exceeding INR 2 lakhs
• Rate of Securities Transaction tax in case of ‘Options’ is proposed to be increased from .017% to .05%
• Tapping on foreign e-commerce companies: a person making payment to a non-resident, who does not have a permanent
establishment, exceeding in aggregate INR 1 lakh in a year, as consideration for online advertisement, will withhold tax at 6% of
gross amount paid, as Equalization levy. The levy will only apply to B2B transactions.
• Compliance Window for domestic taxpayers to declare undisclosed income or income represented in the form of any asset
and clear up their past tax transgressions by paying tax at 30%, and surcharge at 7.5% and penalty at 7.5%, which is a
total of 45% of the undisclosed income. No scrutiny or enquiry regarding income declared in these declarations under the
Income Tax Act or the Wealth Tax Act and the declarants will have immunity from prosecution. Immunity from Benami Transaction
(Prohibition) Act, 1988 is also proposed subject to certain conditions. The surcharge levied at 7.5% of undisclosed income will be
called Krishi Kalyan surcharge to be used for agriculture and rural economy. Window will be opened from 1st June to 30th
September, 2016 with an option to pay amount due within two months of declaration.
• New Dispute resolution scheme: Appeals pending at Commissioner (Appeals) can be settled by paying the disputed tax and
interest up to the date of assessment. No penalty in respect of Income-tax cases with disputed tax up to INR 10 lakh will
be levied. Cases with disputed tax exceeding INR 10 lakh will be subjected to only 25% of the minimum of the imposable penalty
for both direct and indirect taxes. Any pending appeal against a penalty order can also be settled by paying 25% of the minimum of
the imposable penalty.
• For cases pending due to Retrospective amendments, a one-time scheme of Dispute Resolution announced, in which, cases
can be settle by paying only the tax arrears in which case liability of the interest and penalty shall be waived
23. 23
TAX REFORMS
Direct Taxes….
• Curb on discretionary power of the tax officers in imposing penalties: rates will now be 50% of tax in case of
underreporting of income and 200% of tax where there is misreporting of facts. Remission of penalty is also proposed in
certain circumstances where taxes are paid and appeal is not filed.
• Quantification of disallowance of expenditure relatable to exempt income in terms of Section 14A: 1% of the average
monthly value of investments yielding exempt income, but not exceeding the actual expenditure claimed
• Proposal to provide a time limit of one year for disposing petitions of the tax payers seeking waiver of interest and penalty
• Rationalisation of TDS provisions for small tax payers
• Alternative documents may be provided in case PAN number is not available with non-residents
• Proposal to expand the scope of e-assessments to all assessees in 7 mega cities. Cases will be scrutinized in e-environment
whereby unless the assessee himself wants to be heard, or for special reasons to be recorded, the assessing officer wants to hear
the party, there will be no face to face contact of IT Department with assessee
24. 24
TAX REFORMS
Indirect Taxes
• Service tax exemptions
(a)Services provided under Deen Dayal Upadhyay Grameen Kaushalya Yojana and services provided by Assessing Bodies
empanelled by Ministry of Skill Development & Entrepreneurship.
(b) General insurance services provided under ‘Niramaya’ Health Insurance Scheme launched by National Trust for the
Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disability
(c)Annuity services provided by the National Pension System (NPS) and Services provided by EPFO to employees
(d)Reduction in service tax on Single premium Annuity (Insurance) Policies from 3.5% to 1.4% of the premium paid in
certain cases
(e)Construction of affordable houses up to 60 square metres under any scheme of the Central or State Government including
PPP Schemes
• For refrigerated containers, reduction in the basic custom and excise duty on them to 5% and 6% respectively.
• Changes in customs and excise duty rates on certain inputs, raw materials, intermediaries and components and
certain other goods and simplify procedures, so as to reduce costs and improve competitiveness of domestic industry in
sectors like Information technology hardware, capital goods, defence production, textiles, mineral fuels & mineral oils,
chemicals & petrochemicals, paper, paperboard & newsprint, Maintenance repair and overhauling [MRO] of aircrafts and
ship repair etc
• Excise duty exemption to Ready Mix Concrete.
25. 25
TAX REFORMS
Indirect Taxes
• Krishi Kalyan Cess, @ 0.5% on all taxable services, to come into force from 1st June 2016. Input Tax credit of this cess
will be available for payment of this cess.
• Infrastructure cess, of 1% on small petrol, LPG, CNG cars, 2.5% on diesel cars of certain capacity and 4% on other
higher engine capacity vehicles and SUVs
• Excise duty of 1% without input tax credit or 12.5% with input tax credit on articles of jewellery [excluding silver
jewellery, other than studded with diamonds and some other precious stones], with a higher exemption and eligibility limits of
INR 6 crores and INR 12 crores respectively.
• Change in the excise duty on branded readymade garments and made up articles of textiles with a retail sale price of
INR 1,000 and above from ‘Nil without input tax credit or 6%/12.5% with input tax credit’ to ‘2% without input tax credit or
12.5% with input tax credit’
• Excise duty on tobacco products increased by about 10-15%
• Renaming of ‘Clean Energy Cess’ levied on coal, lignite and peat as ‘Clean Environment Cess’ and increase in rate from INR
200 per tonne to INR 400 per tonne
• Proposed Amendment in Finance Act, 1994 to declare assignment by the Government of the right to use the radio-frequency
spectrum and its subsequent transfers a service, to make it clear that assignment of right to use the spectrum is a
service leviable to service tax and not sale of intangible goods.
• Creation of 11 new benches of Customs, Excise and Service Tax Appellate Tribunal (CESTAT)
26. 26
TAX REFORMS
Indirect Taxes
• Proposal to amend the CENVAT Credit Rules, 2004, so as to improve credit flow, reduce the compliance burden and
associated litigation, particularly those relating to apportionment of credit between exempted and non exempted final
products/services. Also enable multiple manufacturing units to maintain a common warehouse for inputs and distribute
inputs with credits to the individual manufacturing units.
• Facility for revision of return being extended to Central Excise assessees also
• Additional options to banking companies and financial institutions, including non-banking financial companies, for
reversal of input tax credits with respect to non-taxable services provided by them by way of extending deposits, loans
and advances
• Allowance of deferred payment of customs duties for importers and exporters with proven track record.
28. SECTORS, INDUSTRIES AND FOREIGN INVESTORS
28
Infrastructure Financial
Institutions
Foreign
Investors
Defense and
Aerospace
§ Total outlay on
roads and railways
INR 2,18,000 crores
§ Nearly 10,000 kms
of National
Highways in 2016-
17. Nearly 50,000
kms of State
highways to be up-
graded as National
Highways.
§ Resolution of
Disputes Bill
§ Seed capital of INR 25,000
crores to support the Banks
§ Amendment in RBI Act 1934
to provide statutory basis for
a Monetary Policy Framework
and a Monetary Policy
Committee through the
Finance Bill 2016.
§ General Insurance Companies
owned by government to be
listed in stock exchanges
§ Roadmap for consolidation of
Public sector banks
Manufacturing
§ Exemption from Basic
Customs duty, CVD and
SAD and excise duty
when tools and tool kits
imported by MROs for
aircraft
§ Custom duties
exemption withdrawn for
imports by GOI and PSU
§ Custom duties
exemption withdrawn for
imports by contractors of
GOI or PSU
§ 49% FDI in Insurance and pension
sectors
§ 100% FDI in ARC’s
§ Investment limit for foreign entities
in Indian stock exchanges
enhanced from 5 to 15%.
§ Investment by FPIs in Central
Public Sector Enterprises-upto 49%
§ 100% FDI in marketing of food
products
§ FDI in hybrid instruments
§ Residency status to foreign
investors
§ Centre State Investment
Agreement
§ CVD exemption on
road construction
equipments
withdrawn
§ Basic Custom duty
on Golf cars
increased to 60%
§ Excise duty reduced
on Routers,
modems, set top
boxes