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Indian Financial Budget 2015-16 Union budget Live, Economic survey, Fiscal Budget Highlights

Subject : Union Financial Budget 2015 - 2016, on Feb 28, 2015 at 11:00 A.M Live Video Streaming.

Indian Union Financial Budget 2015:
The Union Budget For the Financial Department is submitted by the Arun Jatley for the second time in his political career, and for this time it was financial year 2015-16 for the successive NDA Government led by Narendra Modi .

Key Points Indian Union Budget 2015-16 Highlights :

Financial Budget Total: 17,77, 477 cr.
  • Defence:2,46,727 cr.
  • Education department: 68,960 cr.
  • Female, child 10,513 cr.
  • Health Department: 3,31500 cr.
  • Water Resourses: 4,173 cr.
  • Housing Construction: 22,407 cr.
  • Micro Irrigation: 5,300 cr.
  • Suraksha beema yojna to cover accidental death at the premium of rS 12 per year, and get 2 Lakhs accident benefit in PMJDY
  • National Skill Mission for Jobs in India.
  • Andhra Pradesh got IIM.
  • Propose to set up in IIT in Karnataka, IIM in J& K and Andhra Pradesh, AIIMS in Dhanbad
  • Financial help For Andhra Pradesh, Bihar, West Bengal.
  • Andhra Pradesh has First Place in Digital India.
  • Solar, Electrical Vehicles: 70cr.
  •  Wealth tax has been Removed.
  • Rs 5000 crore to be alloted for MNREGA which will be the highest amount allocated ever to this project: FM
  • 2% Surcharge income above 1 Lakh Purchases.
  • 100% Tax Deduction on Swach Bharat, Ganga Missions.
  • Sucharge Tax in place of Wealth Tax .
  • 6% Excise Duty is reduced on Leather Products.
  • 2% Sucharge on income above 1cr.
  • Individual tax payer will benefit to the extent Rs.4,44,200/- from the exemptions announced.
  • Increase in limit of deduction of health insurance premium from 15,000 to 25,000. It will also be eligible for tax rebate
  •  Royalty fees on technical service to be reduced from 25 per cent to 10 per cent.
  • Measures to be taken to curb black money. Proposal to disallow use of more than Rs 20,000 in cash for purchase or sale of immoval property.
  • Fiscal Deficit target to be 3.9% in FY 2015-16 and Revenue Deficit to be 2.8%  in FY 2015-16.
  • National Skill Mission to be launched, to develop employability of youth, especially below 25 years of age.
  • No Change on TAX Slabs.
  • Service Tax Increased From 12.34% to 14%.
  • Tax Rebate on Health Insurance Increased to Rs.25,000.
  • Corporate tax reduced to 30% to 25%.
  • 10 years imprisonment for Black money people.
  • 7 years for not giving details of foreign money.
  • PAN Number will be necessary for purchases above Rs.1 Lakh Rupees.
Financial Budget 2015-16
Financial Budget 2013: 
The Economic Survey 2013-14, Union Budget 2013-14, The India Hon'ble Finance Minister's P Chidambaram, will present the Presentation of Union Budget in the Parliament on 28th February 2013 at 11:00 AM IST.

The Ministry of Finance, Government of India, Economic Survey 2012–13 reviews the developments in the Indian economy over the previous year, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.  This bill will be presented in both of the houses such as Rajya Sabha and Lok Sabha held during the Budget Session. Over this year huge increase of diesel prices, and direct FDI into country, and have heavy foreign investors, to outlook Fiscal policy and monetary management Financial intermediation and the role of markets External sector, balance of payments, and trade Agriculture, industrial development and services sector Energy, infrastructure, and communications Human development, climate change and public programmes India and the Global Economy This document would be useful for policymakers, economists, policy analysts, business practitioners, government agencies, students, researchers, the media, and all those interested in the development in the Indian economy. Live at : http://budgetlive.nic.in

Indian Union Budget 2013-14 Highlights :
  • Budget expenditure is Rs 16,65,297 crores.
  • Plan expenditure Rs 5,55, 322 crores
  • Revised expenditure target is Rs 14,30,825 crores.
  • Rs 41,561 crore for SC sub plan
  • Rs 24,598 crore for ST sub plan.
  • Rs 3511 crore allocated to Minority Affairs Ministry
  • Rs 110 crore to be allocated to the department of disability affairs.
  • Rs 37,330 crore allocated for Ministry of Health & Family Welfare.
  • Rs 1069 crore allocated to Department of Aryush.
  • Rs 4,727 crore to be allocated for medical education and research. 
  • Rs 5,284 crore to various Ministries for scholarships for SC/ST, OBC and minority students.
  • Rs 13,215 crore to be provided for mid-day meal scheme.
  • Rs 65,867 crore allocated to Ministry of HRD in 2013-14.
  • Medical colleges in six more AIIMS-like institutions to start functioning this year; Rs 1650 crore allocated for the purpose.
  • Rs 17,700 crore provided for Integrated Child Development Scheme.
  • Rs 15,260 crore to be allocated to Ministry of Drinking Water and Sanitation.
  • Rs 80,194 crore allocation for Ministry of Rural Development in 2013-14. About Rs 33,000 crore for MGNREGA.
  • Rs 80,194 crore allocated for rural development schemes.
  • Rs 14,873 crore for JNNURM for urban transportation
  •  Rs 27,049 crore allocation to the Agriculture Ministry in 2013-14
  •  Foodgrain production in 2012-13 will be over 250 million Tons.
  •  Rs 1,000 crore allocated for eastern states. for Rice output increased in Assam, Odisha, Jharkhand and West Bengal; 
  •  Rs 5,387 crore to be allocated for integrated watershed programme for farmers in 2013-14
  •   Indian Institute of Biotechnology will be set up at Ranchi.
  • Rs 10,000 crore set aside for incremental cost for National Food Security Bill over and above food subsidy.
  •  Two new major ports to be set up in West Bengal and Andhra Pradesh

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