On the tax receipt front, the government is targeting 15. Find, read and cite all the research you need on researchgate. The analysis which has been done by our team looks at both the macro implications of the proposals as well as the impact on various sectors. Depending on the feasibility of these estimates, budgets are of three types balanced budget, surplus budget and deficit budget. Arun jaitley by nda governed government and here we are sharing main highlight of the union budget 201516 with our readers. Making one india accomplish durable growth template. Taxes and only a third from direct taxes, union budget 201516 has moved.
We are bringing you the highlights and key announcements of budget 2015 16. List of allocations to various sectors union finance minister arun jaitley, on february 28, 2015 presented the union budget for the financial year 20152016. Please share your experience regarding our site,if u have any suggestions or complaints comment below and subscribe us with your emailid and like our facebook page to be updated with. Union budget 201415 india, indian union budget 201415, pdf. Stay on the times of india to know the live update, latest news and headlines about indias union budget 2015 16. Key to budget documents pdf file opens in a new window. Shocking neglect of health care union budget 201516. In 201920, the total expenditure on subsidies is estimated to increase to rs 3,38,949 crore. Union finance minister, arun jaitley on 28 february 2015 presented union budget 201516 in the lok sabha. G in exercise of the powers conferred by section 15 of the government savings banks act, 1873, the. For those who wants union budget 201516 year can check out the link below for pdf format.
Madam speaker, i rise to present the budget of the union for the year 201516. This is owing to an increase in expenditure on petroleum, fertiliser, food, and other interest subsidies. Live updates of union budget 201819, 201718, 201617. Union budget of india 201516 highlights and analysis clear ias. So these are the highlights of union budget 2015 16. Union budget 201516 page 1 service tax reverse charge ready reckoner service tax reverse charges nature of service service provider service receiver % of service tax liability remarks provider receiver. I present this budget in an economic environment which is far more positive than in the recent past. Of bold strokes and fine prints an analysis of union budget 201516. Budget allocation to css niti aayogs arvind panagariya recommends reducing css. The government has shifted its strategic focus to the jam trinity jan dhan, aadhar and mobile along with jan suraksha as it plans to introduce universal social security system for all indians. F inance minister arun jaitley today 28th february 2015 presented the union budget for the year 2015 16 aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.
From 20 february until the presentation of budget about 100 government employees remained locked up in the north block of the secretariat building, new delhi, which houses the budget printing press, to maintain secrecy. Union budget analysis 7 it may be noted that the government was able to meet just 50% of the budgeted amount for disinvestment in the year 201415. Historical budget documents are available for reference purposes. Union budget 201516 impact on the technology sector technology sector has now been dubbed as indias sunrise sector and the government lays more focus on technology and ecommerce industry recognising the importance of it, the government s make in india mission has included it and bpm among the 25 focus sectors. Union budget 201516 ministry of tribal affairs datasets. The national budget is negotiated and approved by the assembly of the union pyidaungsu hluttaw using a process of majority consent. Gross domestic product gdp growth of india for 201516 projected between 8.
The paper attempts to address the following questions. The budget is presented by the finance minister of india in parliament. List of important government schemes important government schemes announced in union budget. Live updates of union budget 201819, 201718, 201617, 2015. It was a budget for corporates as corporate tax reduced from 30% to 25%. Budget 201516 in compliance with the fiscal responsibility and budget. Union budget 201516 summary download pdf commodity futures and the government bond market merged with sebi build giftgujarat international finance teccity as an international financial services centre ifsc. The government will present the union budget 2019 on february 1, a day after the budget session of parliament commences on january 31. The budget clearly did not disappoint as it gave due importance to all sections of the economy and tried to enhance the. Union budget 201516 is being presented by finance minister mr. Pdf shocking neglect of health care union budget 201516. The top key highlights of jaitleys budget for the fiscal year that begins on april 1,2015.
Union budget 201516 is special as this is the first budget after the creation of national institution of transforming india niti and acceptance of 14th finance commissions ffc recommendation of substantially higher devolution of union taxes to states. Union budget 201415 india, indian union budget 201415. Service tax would be levied on processes, unless otherwise specified in the negative list, not. Budget is most economic event in the country which outlines all the economic planning of the government of india for the next year. Government to work with the states for the creation of a. Important government schemes announced in union budget. It includes the effect of railway budget union minister for finance shri arun jaitley on 28 th february presented in parliament the union budget 2015 16, with a focus on growth, promoting entrepreneurship and manufacturing, rationalizing tax regime and announcing some relief to common man. Service tax 9 union budget 2015 16 a glimpse rate changes effective from a date to be notified after enactment of finance bill 2015 general service tax rate is proposed to be increased from 12. Major programs under central assistance to states plan. Mar 02, 2015 indirect taxes service tax union budget 2015 16 a glimpse 9. Union budget 2015 live update and budget highlights. The budget 202021 will be presented by finance minister nirmala sitaraman. Tax benefit on hiring on employees base also widened.
Total union budget allocation for various schemes and programmes under the ministry of tribal affairs. Union budget 201516 impact on the automotive sector industry expectations incentivise replacement of vehicles, which were registered before the year 2000 when the first emission norms were introduced government needs to support the sector and consider the roadmap for gst implementation. The union budget is the budget prepared by the central government for the country as a whole. Please note that due to the age of these documents they may not meet current web publishing requirements and may not be compatible with some software. Fiscal policy strategy statement for the financial year. Union budget 2015 live update and budget highlights times. Additional fiscal space will go to funding infrastructure investment. Union budget is defined under article 112 of the indian.
The union budget 20142015 aims to cater all groups of the society with a motto, sab ka saath sab ka vikas. Union budget 202021 india date and time, timings, income tax slab rate expectations. The budget documents presented to parliament comprise, besides the finance ministers budget. Madam speaker, i rise to present the budget of the union for the year 2015 16. Scholarships,strengthening and establishment of ashram schools and hostels,grantsinaid through. House of man who went to delhi religious conference sealed in karaikal.
It presents a significant push towards reforms and aims for growth and development for all segments of society. Union budget 201516 impact on the real estate and infrastructure sector growth drivers the indian real estate sector still occupies one of the topmost positions among all the major sectors that have a multiplier effect on the economy. This effort of care has been part of our tradition to provide this analysis as soon as possible after. The budgetary support for central plan in 201415 is rs. We do hope to hence provide a comprehensive view of the budget which the reader should find useful. The union budget of 201516 was the first full budget to be presented by the modi led government and was preceded by sky high expectations of reform. Personal indisposition or the weight of expectations of over a billion indians one. The union budget of india also called the general india budget is presented each year on the last working day of february. Gross domestic product gdp growth of india for 201516 projected between 88. In spite of the consequential reduced fiscal space for the centre, the government has decided to continue supporting important national priorities. Union and state government budget allocations and expenditures for programmesschemes for drinking water and sanitation. With regard to expenditure, the total expenditure is estimated to rise by 5. While making his maiden budget speech in parliament on july 10, the union finance minister shri arun jaitley said that india has a strong urge to grow and free itself from the curse of poverty. Mar 03, 2015 click here to download pdf file of highlights of union budget, 2015 16.
We hope the government will be able to meet the set target in the fiscal year 201516. Finance minister promised to meet the challenging fiscal target of 4. Government firm on journey to achieve fiscal target of 3 per cent of gdp. Union budget 201516 government budget is designed for optimal allocation of resources. Union budget 201516 summary download pdf bankexamstoday. Mutual fund industry seeks tax sops to boost long term flows in the capital market. This should provide clear focus of the government to drive the theme of invest india. Finance minister arun jaitley presented the union budget 201516 at the. Union finance minister arun jaitley presented union budget 2018 in parliament. Union budget 201516 india, indian union budget 201516. The budget has been formulated with the twofold objective of promoting inclusive growth and strengthening the federal structure. The fiscal deficit target for the year 201415 has been maintained and the fiscal deficit to gdp ratio for.
The link will be updated in hindi and english as soon as budget announced. The union budget is presented to the parliament in two parts. The total assets under management of the industry was rs 11,81,356 crore at the end of january. Highlight of union budget for fy 201516 download pdf of. It includes expenditure related to secretariat,rajiv gandhi national fellowships for st students,top class education, world bank project improving development programmes in the tribal areas. This was the first full year budget of the nda government and the second budget. Overview direct tax government not going ahead with direct tax code bringing down corporate tax rate from 30% to 25% over a period of four years measures to promote domestic manufacturing and improving the. The union budget of india, also referred to as the annual financial statement in the article 112 of the constitution of india, is the annual budget of the republic of india. Union budget 201516 page 3 tax deducted at source as earlier higher tds of 20% for not furnishing correct pan in case the payee is not able to furnish pan to the deductor, tax shall be deducted at the higher of the rates specified in the relevant provision of. The much awaited, and the first fullfledged, union budget by the narendra modi government for the financial year 201516 was tabled in the parliament today by the finance minister mr. The union budget for 201415 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on july 10, 2014. Union budget 201516 india, indian union budget 201516, pdf. Introduction the budget is not just a collection of numbers, but an expression of our values and aspirations and the union budget 201718 once again gives us an opportunity to look at how the government of the.
As per the union budet 201516, the total plan outlay for 201516 is rs. It is not only important for corporates but for individuals from all. Aiming at 78 per cent gross domestic product gdp growth in 34 years. We are bringing you the highlights and key announcements of budget 201516. This article, based on the union budget 2015 16 presented to the parliament on february 28, 2015 analyses the key features of the budget and makes an assessment of the likely fiscal situation in 2015 16.
It is last full budget of narendra modi government before 2019 lok sabha elections. A government budget is an annual financial statement which outlines the estimated government expenditure and expected government receipts or revenues for the forthcoming fiscal year. Union budget of india 201516 highlights and analysis. The union budget for 201516 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. The beginning of the budget printing began on 19 february 2015 with the traditional halwa ceremony. Union budget 2015 16 is being presented by finance minister mr. Government or local authority business entity located in taxable territory. An enabling provision is being made to empower the central government to impose a swachh bharat cess on all or certain taxable services at a rate of 2% on the value of such taxable. Need to view public finances from a national perspective and not just the perspective of the central government. Government budget is designed for optimal allocation of resources.
The government presents it on the first day of february so that it could be materialised before the beginning of new financial year in april. A budget is passed for each new financial year in myanmar october 1 to september 31, at both national and subnational levels of government as stipulated by the constitution of myanmar 2008. Here is some important new government schemes announced in union budget 2018 19. The union budget for 201617 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 29, 2016. General budget which gives an overall picture of financial position of the government of india. Making indias budgets open, usable and easy to comprehend. Union budget niti aayog and finance commission recommendations.
800 749 502 889 553 699 1267 1118 678 1451 290 881 1436 893 931 1294 250 1040 597 654 907 814 40 1390 1423 1301 1113 1497 620 1146 763 1419 21 263 765 781 30 1285