Page 4 - VP-MARCH 2016 final8
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Union Budget Highlights:
2016-17 Area Measure
Railway Budget Highlights: Direct ¢ No change in the rate of personal
taxation income tax
Area Measure
Indirect ¢ Rebate under section 87A raised from
Fares ¢ No hike in passenger fares taxation Rs 2,000 to Rs 5,000 for individuals
having income below Rs 5,00,000
¢ Investment via partnerships Rs Capital
183.4 billion Markets ¢ Tax rebate on rent paid increased from
Investment ¢ Fiscal Rs 24,000 to Rs 60,000 per annum.
¢ Institutional finance Rs 209.85 Health
billion GDP ¢ Additional exemption of Rs. 50,000
¢ for housing loans up to Rs. 35 lakh,
LIC to invest Rs 1.5 lakh crore over provided cost of house is not above Rs.
FY17 ¢ next five years 50 lakh.
Estimates ¢
¢ Allotment of Rs 500 million for ¢ Withdrawal up to 40% of corpus from
start-up as innovation grants pension to be tax-exempt
¢
FY17 plan outlay Rs 1.21 trillion ¢ Increase in HRA to 60,000 per annum
Miscellaneous
¢ FY17 revenue seen Rs 1.84 trillion ¢ 15 per cent surcharge on income above
Rs. 1 crore
¢ Wifi at 100 stations this year and
400 stations next year ¢ Committed to implementing GAAR
from April 1, 2017
All major stations to be brought
under CCTV surveillance in a ¢ STT of 0.05% on options contracts
phased manner
¢ Infra cess of 4% on high capacity
Will open cancellation facility vehicles, SUVs
through 139 helpline number
¢ Infra cess of 1% on small cars, 2% on
Increased quota for senior citizens some diesel cars
and women travellers this year
¢ Increased excise duty on tobacco
products by 10-15%
¢ Services provided by EPFO exempted
from service tax
¢ Committed to implementing GAAR
from April 1, 2017
¢ STT of 0.05% on options contracts
¢ 10% tax on dividend over Rs 10 lakh
¢ Allotment of Rs 250 billion for
recapitalisation of PSU banks in FY17
¢ To allow 100% FDI in asset
reconstruction companies
¢ Govt open to reducing its stake in PSU
banks below 50%
¢ Propose 0.5% Krishi Kalyan cess on all
taxable services w.e.f. June 1
¢ Fiscal deficit targets of 3.9%, 3.5% and
3% in FY16, FY17 & FY18 respectively
¢ FY16 Current account deficit projected
at 1.4% of GDP
¢ FY16 GDP growth seen at 7.6%. FY17
GDP growth seen at 7-7.75%
4 ARIHANT CAPITAL ¡ MARCH 2016
