Union Budget 2016-17 Highlights: Download Hindi/ English PDF - W3i.iN

28/02/2016

Union Budget 2016-17 Highlights: Download Hindi/ English PDF

Union Budget 2016-17 Highlights – Download Hindi/ English PDF: Things you should know about Union Budget 2016 are provided below. What are the Important details about Union Budget 2016-17? Are you looking for Union Budget 2016 Budget 2016 Announcements?

Candidates preparing for various competitive exams should make use of Union Budget 2016 Highlights. As we all know very well, many questions are from Budgets in GK & General awareness sections of any exam. Readers can download the PDF version (Hindi & English) of Budget 2016-17 at the link mentioned below.
Finance Minister, Shri. Arun Jaitley presented the Union Budget for the year 2016-17 today on 29th February 2016.

In order to provide all the information, announcements of Union Budget 2016 at one place, we have shared the brief of Budget 2016-17 here in this page and complete details in PDF which is available in both Hindi and English.

Key Highlights of Union Budget 2016

The Union Budget 2016 Highlights are as follows.

15 lakh acres to be brought under organic farming over a three year period.

2Govt to provide incentive for deepwater gas exploration.

3Allocation for agriculture and farmer welfare at Rs 35,984 crore.

428.5 lakh hectares of land will be brought under irrigation.

5Rs 60,000 crore for recharging of ground water recharging.

6Swacch Bharat scheme to get Rs. 9,500 crores.

7Rs 27,000 crore to be spend on roadways.


 Union budget 2016 Highlights PDF download, Union Budget 2016 New Announcemnts, Budget 2016 PDF Hindi English

Budget 2016: Sector Wise Announcements


Taxation:

  • No changes have been made to existing income tax rates.
  • Infrastructure and agriculture cess to be levied.
  • Excise duty raised from 10 to 15 per cent on tobacco products other than beedis.
  • 1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.
  • SUVs, Luxury cars to be more expensive.
  • Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.
  • Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.
  • Service tax exempted for housing construction of houses less than 60 sq. m.
  • Companies with revenue less than Rs 5 crore to be taxed at 29% plus surcharge.
  • Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties.
  • Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent.
  • Excise 1 per cent imposed on articles of jewellery, excluding silver.


Agriculture:

  • Total allocation for agriculture and farmer welfare at Rs 35,984 crores.
  • 28.5 lakh heactares of land wil be brought under irrigation.
  • 5 lakh acres to be brought under organic farming over a three year period.
  • Rs 60,000 crore for recharging of ground water recharging as there is urgent need to focus on drought hit areas cluster development for water conservation.
  • Dedicated irrigation fund in NABARD of Rs.20.000 croer.
  • Nominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna.

Banking

  • Banks get a big boost: Rs 25,000 crore towards recapitalisation of public sector banks. Jaitley says: Banking Board Bureau will be operationalised, we stand solidly behind public sector banks.
  • Target of disbursement under MUDRA increased to 1,80,000 crore.
  • Process of transfer of government stake in IDBI Bank below 50% started.
  • General Insurance companies will be listed in the stock exchange.
  • Govt to increase ATMs, micro-ATMs in post offices in next three years.


Infrastructure:

  • Rs. 27,000 crore to be spent on roadways.
  • 65 eligible habitats to be connected via 2.23 lakh kms of road. Current construction pace is 100 kms/day.
  • Shops to be given option to remain open all seven days in a week across markets.
  • Rs. 55,000 crore for roads and highways. Total allocation for road construction, including PMGSY, - Rs 97,000 crore.
  • India's highest-ever production of motor vehicles was recorded in 2015.
  • Total outlay for infrastructure in Budget 2016 now stands at Rs. 2,21,246 crore.
  • New greenfield ports to be developed on east and west coasts.
  • Revival of underserved airports. Centre to Partner with States to revive small airports for regional connectivity.
  • Govt will amend Motor Vehicle Act in passenger vehicle segment to allow innovation.
Investments

  • 100 per cent FDI in marketing of food products produced and marketed in India.
  • Dept. of Disinvestment to be renamed as Dept. of Investment and Public Asset Management.
  • Direct tax proposals result in revenue loss of Rs.1060 crore, indirect tax proposals to bring gain of Rs.20,670 crore.

Social:

  • Rs 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17.
  • Swacch Bharat Abhiyan allocated Rs.9,500 crores.
  • Hub to support SC/ST entrepreneurs.
  • Government is launching a new initiative to provide cooking gas to BPL families with state support.
  • LPG connections to be provided under the name of women members of family: Rs 2000 crore allocated for 5 years for BPL families.
  • 2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of 228%.
  • 300 urban clusters to be set up under Shyama Prasad Mukherji Rurban Mission.
  • 6 crore additional households to be covered under Digital Literacy scheme in next 3 years.
  • Four schemes for animal welfare.

Health:

  • 2.2 lakh renal patients added every year in India. Basic dialysis equipment gets some relief.
  • A new health protection scheme for health cover upto 1 lakh per family.
  • National Dialysis Service Prog with funds thru PPP mode to provide dialysis at all district hospitals.
  • Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme.
  • PM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be opened.

Education:

  • 10 public and 10 private educational institutions to be made world-class.
  • Digital repository for all school leaving certificates and diplomas. Rs. 1,000 crore for higher education financing.
  • Rs. 1,700 crore for 1500 multi-skill development centres.
  • 62 new navodaya vidyalayas to be set up for quality education.
  • Digital literacy scheme to be launched to cover 6 crore additional rural households
  • Entrepreneurship training to be provided across schools, colleges and massive online courses.
  • Objective to skill 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojna.
  • National Skill Development Mission has imparted training to 76 lakh youth. 1500 Multi-skill training institutes to be set up.

Personal Finance

  • Rs 1,000 crore allocated for new EPF (Employees' Provident Fund) scheme.
  • Govt. will pay EPF contribution of 8.33% for all new employees for first three years.
  • 15 per cent surcharge on income above Rs. 1 crore.
  • Service tax exempted for housing construction of houses less than 60 square meter.
  • Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.
  • Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.

Energy:

  • Rs. 3000 crore earmarked for nuclear power generation.
  • Government drawing comprehensive plan to be implemented in next 15-20 years for exploiting nuclear energy.
  • Government to provide incentive for deepwater gas exploration.

Download Budget 2016 PDF in Hindi [Click here]

Download Budget 2016 PDF in English [Click here]