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Arun Jaitley’s Budget 2016 decoded: From marginal tax relief to EPS, all you want to know in 5 slides

Wed March 02 2016, 7:33 am
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    Arun Jaitley's Budget 2016: Marginal tax relief of upto Rs 6,600 for small tax payers, a 3 per cent hike in surcharge on super-rich, new levies on cars and SUVs and a compliance window to domestic black money holders were unveiled in the Budget for 2016-17 that envisages a huge spending of Rs 1.77 lakh crore in rural areas to address the agrarian distress. (Graphs: PTI)

  • budget 2016, union budget 2016, budget 2016 highlights, 2016 budget news, budget news, union budget news, budget 2016 news, union budget 2016, income tax, arun jaitley, budget news india, arun jaitley in parliament, budget india news, budget 2016 details, budget 2016 graphics

    Arun Jaitley's Budget 2016: Presenting his third Budget, Finance Minister Arun Jaitley made no changes in the personal or corporate income- tax slabs but made costlier several items including electricity, jewellery, readymade garments, mineral water and aerated drinks, tobacco and cigarettes by raising duties. (Graphs: PTI)

  • budget 2016, union budget 2016, budget 2016 highlights, 2016 budget news, budget news, union budget news, budget 2016 news, union budget 2016, income tax, arun jaitley, budget news india, arun jaitley in parliament, budget india news, budget 2016 details, budget 2016 graphics

    Arun Jaitley's Budget 2016: The Budget brought in a new 0.5 per cent Krishi Kalyan Cess on all taxable services to fund agriculture while proposing a retirement tax on 60 per cent of the pension and provident fund corpus including EPF created after April 1, 2016. Against expectations of incentives for industry hit by global slowdown and shrinking exports, the Budget did not offer anything major. While deciding to stick to to fiscal deficit roadmap, he unveiled a new policy for sale of PSUs to raise additional resources as well as tried to address lingering tax issues with one-time settlement offers. (Graphs: PTI)

  • budget 2016, union budget 2016, budget 2016 highlights, 2016 budget news, budget news, union budget news, budget 2016 news, union budget 2016, income tax, arun jaitley, budget news india, arun jaitley in parliament, budget india news, budget 2016 details, budget 2016 graphics

    Arun Jaitley's Budget 2016: While the revenue loss on direct taxes will be Rs 1060 crore, his indirect tax proposal will mobilise an additional Rs 20,670 crore. Net revenue gain will be Rs 19,610 crore. Asked about comments that the Budget was left-of-centre, Jaitley said, "it is neither left nor right but deals with the reality of Indian economy. It addresses sectors which need highest priority and rural areas need most attention." "There is a serious challenge, if not distress, in the rural sector and we have given priority to the social sector and infrastructure. This Budget is a combination of several things," he said. (Graphs: PTI)

  • budget 2016, union budget 2016, budget 2016 highlights, 2016 budget news, budget news, union budget news, budget 2016 news, union budget 2016, income tax, arun jaitley, budget news india, arun jaitley in parliament, budget india news, budget 2016 details, budget 2016 graphics

    Arun Jaitley's Budget 2016: Ahead of Assembly elections in five states, Jaitley focused on plans for agriculture and farmers welfare by providing Rs 35,984 crore on this alone. A massive Rs 87,765 crore has been allocated for rural sector while Rs 2000 crore will be provided for giving concessional LPG connections to BPL families. As much as Rs 2.87 lakh crore will be given as grants in aid to panchayats and municipalities while allocation for social sector including education and healthcare has been pegged at Rs 1.51 lakh crore.A total outlay of Rs 2.21 lakh crore has been made for infrastructure, of which Rs 97,000 crore will be in the road sector including on rural roads. (Graphs: PTI)

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