Friends, There are some key points in Budget 2016-17 which are summarised below for the knowledge :
- 1) Direct transfer of subsidy to LPG consumers
- 2) All investment payments in 'Sukanya Scheme' to be fully tax exempted
- 3) Universal social security system for all, especially poor and disadvantaged sections
- 4) Rs.246,727 crore earmarked for defence
- 5) Education sector allocated Rs.68,968 crore; rural development gets Rs.79,526 crore
- 6) AIIMS-like institutes to be set up in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh and Assam
- 7) Tax exemption for contributions to 'Swachh Bharat Abhiyan' and 'Clean Ganga Fund' by corporates as part of CSR
- 8) Corporate tax to be reduced from 30 percent to 25 percent
- 9) Comprehensive new law to be brought against black money
- 10) Tobacco items like cigarettes, paan masala, gutkha to be more expensive
- 11) Tax regime to be rationalized
- 12) PPF and EPF corpus to be utilised for senior citizens' welfare fund
- 13) Gold Monetisation Scheme to be introduced
- 14) Five ultra-mega power projects each of 4,000 MW to be set up
- 15) Rural jobs scheme to get Rs.34,699 crore