union budget 2015

1. PRESENTED BY: SUMIT

2. CORPORATE TAX
 Corporate tax will be gradually reduced from 30% to
25% over the period of 4 yrs starting from April 2016.
 It was announced that donation made to Swachh
Bharat Abhiyan & clean Ganga plan under social
corporate responsibility.
 Yoga trust were classified as charitable trusts and given
tax benifits.

3. SERVICE TAX
 Service tax rate was raised from 12.26% to 14%.
 Service tax exemption given to mutal fund agents was
withdrawn.
 Lottery ticket sellers and chit fund agents were
brought under the ambit of service tax.

4. EXCISE DUTY
 The central excise duty rates were round off from 12.36% to
12.5%.
 The excise duty on cigarettes was increased by 25%.
 The excise duty on plastic bags was increased from 12% to
18%.
 The excise duty on soft drinks & packaged water was
increased from 12% to 18%.
 The excise duty was removed from compound used in the
manufacture of aggarbatti.
 The excise duty on leather footware was reduced from 12%
to 6%.

5. SOCIAL SECURITY
 Salaried employees were given the choice between
employees provident fund & national pension scheme
as their pension fund.
 Pradhan mantri suraksha bima yojana with annual
premium of rs.12 will provide a coverage of rs 2lakh for
full disability or death, and 1 lakh for partial disability.
 Pradhan mantri jeevan jyoti bima yojana is a insurance
scheme with an annual premium of rs330, it will pay rs
2lakh in case of death.

6. CUSTOM DUTY
 Import duty on various refrigerator components were
removed.
 Import duty on solar water heater were removed.
 Duty on imported commercial vehicles was increased
from 10% to 40%.

7. EDUCATION
 A scheme called “ Nayi Manzil” was announced which
will help minority youth without school- leaving
certificate to find employees .
 AIIMS for announced for jammu & kashmir, punjab,
tamil nadu, himachal pradesh and assam.
 IIT will be set up in karnatka.
 An indian school of mines, Dhanbad will be upgraded
to an IIT.
 IIM announced for J&K and andhra pradesh.

8. NEW PROJECTS
 5 IIMs to be opened in HP, Punjab, Bihar, odisha,
Rajasthan.
 5 more IITs in Jammu, Chattishgarh, Goa, Andhra
Pradesh and kerala.
 4 more AIIMs comes in Andhra Pradesh, West Bengal,
Maharashtra, U.P.

9. INVESTMENT
 Permanent account number was made mandatory for
transactions above 1 lakh.
 Three new gold deposit scheme were announced to
reduce import of gold.
 Gold coin with the Ashoka Chakra on the face will be
created.

10. ALLOCATION
 RS 100 crore to support about 600 new & existing
community radio stations.
 100 crore for metro projects in lucknow & ahmedabad.
 2037 crore for set asside for integrated ganga
conservation mission called “Namami Gange”.
 150 crore alloacated for increasing safety of women in
large cities.
 7060 crore for the project of developing 100 smart
cities.

11. PRICE INCREASING

12. PRICE FALL