Key Highlights from India's Railway and Finance Budget 2015


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Key Highlights : India's Union & Railway Budget 2015 Image Courtesy: http :// Image Courtesy: http ://


Union & Railway Budget : 2015 Finance Minister Arun Jaitley on 28 th February, 2015, Saturday announced Union Budget 2015 focusing at elevated growth. Railway Minister Suresh Prabhu presented Railway Budget for 2015-16 in Parliament on Thursday, 26 th February 2015. Image Courtesy : Image Courtesy: http ://


Image Courtesy: http :// Image Courtesy: http :// Major highlights of Jaitley’s Union Budget for fiscal year 2015 starting 1 st April. TAXATION Eradication of Wealth Tax Additional 2% surcharge for super rich with earnings of above Rs. 1 crore Rate of corporate tax to be decreased to 25% over next four years No amendment in tax slabs Service tax surged to14 per cent AGRICULTURE Rs. 25,000 crore for Rural Infrastructure Development Bank. Rs. 5,300 crore in support of Micro Irrigation Programme. Farmers credit – Goal of 8.5 lakh crore Union Budget : 2015


Rs. 70,000 crores for Infrastructure sector Tax-free bonds for schemes in rail road & irrigation PPP model for infrastructure development to bear majority of risk Atal Innovation Mission allocated Rs. 150 crore Govt. recommends to set up 5 radical mega power projects, each of 4000MW INFRASTRUCTURE AIIMS in Assam, Bihar, Himachal Pradesh, Jammu & Kashmir, Punjab, Tamil Nadu. IIT in Karnataka; Indian School of Mines in Dhanbad to be elevated to IIT. PG Institute of Horticulture in Amritsar. Kerala to harbor University of Disability Studies Centre of film production, animation & gaming to surface in Arunachal Pradesh. EDUCATION Image Courtesy: Image Courtesy: http :// Union Budget : 2015


DEFENCE Grant of Rs. 2,46,726 crore; an increase of 9.87 per cent over the previous year. Emphasis on Make in India for rapid production of Defence equipment. WELFARE SCHEMES GST & JAM trinity (Jan Dhan Yojana, Aadhaar and Mobile) to boost quality of life. MUDRA bank to refinance micro finance orgs. to motivate first generation SC/ST entrepreneurs. Housing for everyone by 2020. Govt. to contribute 50% of premium for Atal Pension Yojana every year. Govt. to use Rs. 9,000 crore unclaimed capital in PPF/EPF for Senior Nationals Fund. Image Courtesy: http :// Image Courtesy: http :// Union Budget : 2015


Union Budget : 2015 TOURISM Development schemes for churches & convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi, Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to come under new tourism project On Arrival Visa for 150 countries RENEWABLE ENERGY Rs. 75 crore for Electric Cars manufacturing Renewable energy goal for 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass & 5K MW in small hydro Image Courtesy: http :// Image Courtesy: http ://


Image Courtesy: http :// Forward Markets Commission to be integrated with Securities & Exchange Board of India . NBFCs registered with RBI & with asset size of Rs 500 crore and above to be considered as ‘financial institution’ under Sarfaesi Act, 2002. Permanent Establishment standards to be adjusted so that country does not head to “adverse tax consequences .” Sovereign Gold Bond, as substitute to procuring metal gold . New scheme for depositors of gold to draw interest & jewelers to attain loans on metal accounts. To evolve an Indian gold coin, to convey the Ashok Chakra on its face, to minimize need of foreign coins . Image Courtesy: http :// Union Budget : 2015 GOLD FINANCIAL SECTOR


5 Surveillance cameras in designated compartments & Female coaches for women safety without endangering on privacy Key themes of Railway Budget were in reference with Prime Minister Narendra Modi's proposals - Swachch Bharat Mission, Make in India & Digital India 4 'Operation 5 mins‘ : Passengers travelling unreserved to be able to purchase ticket in 5 minutes Most-expected part - No increase in passenger rail fares 1 Bio toilets & airplane-type vacuum lavatory in trains 3 Rs.8.5 lakh crore to be funded in Railways in next 5 years 2 Image Courtesy: http :// Railway Budget : 2015


6 Rail tickets can now be booked 120 days in advance 7 Momentum on nine railway aisles to go up to 200 km per hour 8 Wi-Fi in additional stations, mobile phone charging provision in all train coaches 9 Provision of online reservation of wheelchair for senior citizens Satellite railway terminals in prime cities 10 Image Courtesy: http :// Railway Budget : 2015


1 1 Centrally controlled Rail Display Network anticipated to be introduced in over 2K stations in next 2 years 1 2 All India 24/7 helpline - 138 from March 2015; Toll free No.182 for security 1 3 917 road under-bridges & over-bridges to be built to supersede 3,438 railway crossings 1 4 Four Railway Research Centres to commence in four universities 1 5 Details about new trains & enlarged persistence to be broadcasted later in session of Parliament after audit Image Courtesy: Railway Budget : 2015

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