Monday, 29 February 2016

Union Budget 2016 - 17 Highlights Important Points PDF Download



Union Budget 2016:

Mr. Jayant Sinha Minister of State for Finance has Unveils Union Budget 2016 on Tuesday 29th February 2016. When he addressing India-Korea Business
Summit in New Delhi he said that “We are working hard on Budget that will be presented on February 29 and that will establish a roadmap for two or three years.”

UP Employment News - Sewayojan

He also said that “We have consistently followed a very clear set of economic policies…we have laid out economic principles very well and we are very confident that we will be able to sustain high growth over a long period of time.”

In the second full-year budget of Finance Minister Mr. Arun Jaitley the focus of budget is on the steps to increase speed of economic growth which look fasted in Range with 7-7.5 per cent with amid a global slowdown. So for more information regarding the Highlights of this Budget you can check the below given section of this page of gosarkarinaukri.co.in.

Current Affairs for Examination

Union Budget 2016 Highlights:

·         2016/17 current account deficit seen around 1-1.5% of GDP

·         2016/17 expected to be challenging from fiscal point of view

·         Agricultural credit target of Rs. 9 lakh crore.

·         Corporate, bank balance sheets remain stretched, affecting prospects for reviving private investments

·         CPI inflation seen around 4.5 to 5% in 2016/17

·         Credibility and optimality argue for adhering to 3.5% of GDP fiscal deficit target


·         CURRENT ACCOUNT DEFICIT

·         Easiest way to widen the tax base would be not to raise exemption thresholds

·         Estimated capital requirement for banks likely around Rs 1.8 trillion by 2018/19

·         Favours review and phasing out of tax exemptions

·         Forex reserves are at the highest ever levels — $350 billion.

·         Gradual depreciation in rupee can be allowed if capital inflows are weak

·         Hub to support SC/ST entrpreneurs.

·         India needs to prepare itself for a major currency readjustment in Asia in wake of a similar adjustment in China

·         Jaitley announces the nine pillars of his Budget — Agriculture and farmers’ welfare, rural sector, social sector including healthcare, education, skills and job creation, infrastructure, financial sector reforms, ease of doing business, fiscal discipline, tax reforms to reduce compliance burden.

·         Low inflation has taken hold, confidence in price stability has improved* Expect RBI to meet 5 percent inflation target by March 2017

·         Low inflation has taken hold, confidence in price stability has improved

·         New scheme for BPL families for gas connections. Statutory backing for Aadhaar platform to ensure delivery of benefits.

·         Proposes widening tax net from 5.5% of earning individuals to more than 20%

·         Prospect of lower oil prices over medium term likely to dampen inflationary expectations

·         Rs. 2.87 lakh crore for gram panchayats as per recommendation of 14th finance commission

·         Rs. 38,500 crore for MNREGA

·         Rupee's value must be fair, avoiding strengthening; fair value can be achieved through monetary relaxation

·         Tax revenue expected to be higher than budgeted levels in FY15/16

·         TAXES

·         Time is right for a review of medium-term fiscal framework

·         Total rural sector allocation Rs. 87,769 crore.

·         Underlying stressed assets in corporate sector must be sold or rehabilitated

How to Government Jobs in India

Note: For more information you can also check Official Website.


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