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Union Budget 2015: FM Arun Jaitley’s 11 ‘Big Bang’ announcements

Finance Minister Arun Jaitley today presented the Union Budget 2015-16.

By: | Updated: March 1, 2015 11:55 AM
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Finance Minister Arun Jaitley with MoS Jayan Sinha and his ministry officials leaves for Parliament to present the annual budget 2015-16 in Lok Sabha, from his office at North Block in New Delhi on Saturday. (PTI)

Finance Minister Arun Jaitley today presented the Union Budget 2015. Here are the big bang announcements:

1. Corporate tax to be cut from 30% to 25% over 4 years

2. New Black Money Law in the current Session

3. GST to be implemented next year

4. Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of Rs 20,000

Video: Union Budget 2015: Insight by Financial Express Managing Editor Sunil Jain

5. Comprehensive Bankruptcy Code of global standards in FY16

6. Atal Pension Yojana to provide a defined pension

7. National Investment and Infrastructure Fund (NIIF) to be established with an annual  flow of Rs 20,000 crores

8. Atal Innovation Mission (AIM) to be established in NITI to provide Innovation  Promotion Platform

9. (SETU) Self-Employment and Talent Utilization) to be established as Techno-financial,  incubation and facilitation programme

10. Gold Monetisation Scheme and Sovereign Gold Bonds

11. A student Financial Aid Authority to administer and monitor the front-end all scholarship as well Educational Loan Schemes

Union Budget 2015: Full coverage

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