The Finance Minister Shri Arun Jaitley has said that a very important dimension to our tax administration is the fight against the scourge of black money. He said that taxation is an instrument of social and economic engineering. Tax collections help the Government to provide education, healthcare, housing and other basic facilities to the people … Read more
Budget 2015-2016 Speech of Arun Jaitley Minister of Finance February 28, 2015 I rise to present the Budget of the Union for the year 2015-16. 3. In the last nine months, the NDA Government headed by Prime Minister Shri Narendra Modi, has undertaken several significant steps to energise the economy. The credibility of the … Read more
The Finance Minister Shri Arun Jaitley while presenting the Budget announced in the Lok Sabha steps to broaden the Tax Base that will maximize benefits to the economy. The Service Tax rate is being increased from 12% plus Education Cesses to 14%. The new service tax rate shall subsume the ‘Education Cess’ and ‘Secondary and … Read more
Payments to the Beneficiaries Including Interest Payment on Deposit in Sukanya Samriddhi Scheme to be Fully Exempt The Union Minister of Finance Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed rationalization of various tax exemptions and incentives to reduce tax disputes and improve tax administration. He said, with a view to … Read more
Thrust: 1. IR to become prime mover of economy once again 2 Resource Mobilization for higher Investments 3. Decongestion of heavy haul routes and speeding up of trains: emphasis on gauge conversion, doubling, tripling and electrification 4. Project delivery 5. Passenger Amenities. 6. Safety 7. Transparency & System Improvement. 8. Railways to continue to be … Read more
Economic Outlook, Prospects and Policy Challenges · Macroeconomic fundamentals in 2014-15 have dramatically improved. Using the new estimate for 2014-15 as the base, GDP growth at constant market prices is expected to accelerate to between 8.1 and 8.5 percent in 2015-16. · Medium-term prospects will be conditioned by the “balance sheet syndrome with Indian characteristics” that has … Read more
Printing of Budget Documents of Union Budget 2015-16 Commenced with Halwa Ceremony; more than 100 Officials Involved in Making the Union Budget will be Locked in Press Till Union Budget is Presented in Lok Sabha by the Finance Minister on 28th February, 2015 More than 100 officials involved in making the Union Budget 2015-16 will … Read more
RBI/2014-15/417FIDD.No.FSD.BC.48/05.04.02/2014-15 January 21, 2015 To, The Chairman / Managing DirectorAll Public & Private Sector Scheduled Commercial Banks Dear Sir/Madam Union Budget – 2014-15Interest Subvention Scheme As directed by the Government of India and in pursuance of the budget announcement made by the Finance Minister relating to the Interest Subvention Scheme 2014-15, Interest subvention of 2 … Read more
In order to infuse more transparency into Budget making exercise and to have people as partners to the process of budget making, the Ministry of Finance, Government of India has decided to invite suggestions from public at large for Union Budget 2015-16. Those desirous of sending suggestions for Budget 2015-16, may send their Budget suggestions … Read more
What are the types of taxes in India? There are two types of taxation in India – Direct tax and indirect tax. Direct tax Direct tax is the tax where tax is directly collected from taxpayers; it means it is tax on income. Income tax and wealth tax are the two direct taxes in India. … Read more