GST - No changes in service tax & excise duty as GST draft will be launching soon
Fiscal Deficit - Seen at 3.2% (17-18) & 3% (18-19)
Current Account Deficit - 0.3% (16-17) 1st Half
FDI Investments - 1.45 Lakh Crores (16-17) 1st Half
Direct Tax - Tax to GDP Ratio is very low
Income upto 2.5 Lakhs - Nil Tax
Income above 2.51 Lakhs to 5 Lakhs - Reduces to 5% Tax from 10%
Income above 50 Lakhs to 1 Crore - 10% surcharge
Farmer - Double their income in 5 years
Agriculture - 10 Lac Crores credit
MNREGA - Allocation 48,000 Crores
PM Gram Sadak Yojna- Allocation 19,000 Crores
Sr. Citizen - 8% guaranteed pension for 10yrs by LIC of India scheme
Rail Budget - 1.31 Lakh Crores, New Railway Line of 3500 kms, No service charge on IRCTC Ticket booking
Highway - 67,000 Crores for National Highways
Disinvestment - Continue through ETF's and timely disinvestments of PSU's,
Target 72500 Crores
Banking - 10,000 Crores to PSU banks for Recapitalisation, Double landing targets to Bank 2.44 Lac Crores, 2.44 Lac Crores under mudra scheme
Total Expenditure - Estimated at 21.47 Lac Crores
Defence Expenditure - 2.74 Lakh Crores excluding Pension
Long Term Capital Gain - For immovable property reduced to 2yrs from 3yrs
Income Tax - Companies turnover less than 50 Crores will pay 5% less tax, Effective rate 25%
Cash Transaction - No transaction over 3 lakes will be permitted in cash
Infra - Insurance company has to invest 25% in Infra bonds
Indian Market View
