BUDGET HIGHLIGHTS FY15-16
– SAD (Special additional duty) in Metal scrap of Iron & Steel, Copper, Brass & Aluminum reduced to 2% from 4%
– Import duty on Met coke increased to 5% from 2.5% Custom duty on Bituminous coal reduced to 10% from 55%
– Service Tax increase to 14% from 12.36%
– TO INCREASE EXCISE DUTY TO 12.5% from Present 12.36%
– TO REDUCE CUSTOMS DUTY ON 22 ITEMS: Items not declared Yet
– Basic rate for Corporate tax to be 25% over next 4 years from present rate 30%
– Allocate Rs 2.46 LK CR For Defense in FY16
– To Do Away With Distinction Between FPIs (Foreign Portfolio Investment) & FDI (Foreign Direct Investment)
– To Set Up 5 Ultra Mega Power Projects Of 4,000 MW
– TO Merge FMC & SEBI
– To Put In Place Direct Tax Regime
– Investment in Infra structure to go up by 70,000 Cr
– Propose 1.25 Lakh CR Public Investment For FY16
– To Allocate Rs 25,000 Cr For Rural Infrastructure
– To Encourage Ports In Public Sector To Corporatise
– Will Establish National Infra Fund, To Allocate Rs 20,000 Cr
– PROPOSE TAX-FREE INFRA BONDS FOR ROAD, RAILWAYS & INFRA PROJECTS
– To Allocate 25,000 Cr For Rural Infrastructure
– GST To Be In Place By April 1, 2016
– Completing 1 Lakh KM of Road a Top Priority
– To See 6 Cr Units Of Rural & Urban Housing By 2020
– Likely to end FY15 with GDP of 7.4%
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