National
Consolidated Budget Highlights
New Delhi: Highlights of the budget for 2015-16 presented by Finance Minister Arun Jaitley in the Lok Sabha on Saturday:
* Personal income tax rates unchanged
* Increase in limit of deduction in health insurance from Rs.15,000 to Rs.25,000
* For senior citizens, this limit to be increased from Rs.30,000 from present Rs.10,000
* Deduction limit of Rs.60,000 on account of serious diseases to be enhanced to Rs.80,000 for senior citizens
* Exemption on contributions to Pension Fund hiked from Rs.1 lakh to Rs.1.5 lakh per year
* All investment payments in ‘Sukanya Scheme’ will be fully exempted from tax
* Transport allowance exemption raised from Rs.800 to Rs.1,600 per month
* Universal social security system for all Indians, especially poor and disadvantaged sections
* Atal Pension Yojna for economically disadvantaged
* PPF and EPF corpus to be utilised for senior citizens’ welfare fund
* Physical aids and assisting devices for physically challenged senior citizens
* Wealth Tax to be abolished and additional two percent tax on super rich to yield Rs.9,000 crore annually
* GDP growth at 7.4 percent in 2014-15 and at 8-8.5 percent in 2015-16; double-digit growth feasible
* Non-Plan expenditure in 2015-16 estimated at Rs.1,312,200 crore; Plan expenditure estimated at Rs.465,277 crore
* Tax collection in 2015-16 estimated at Rs.1,449,490 crore
* Adequate provision for defence with Rs.246,727 crore earmarked for 2015-16
* Investment on infrastructure to go up by Rs.70,000 crore in 2015-16 over 2014-15
* Education sector allocated Rs.68,968 crore; rural development gets Rs.79,526 crore
* Nirbhaya Fund gets another Rs.1000 crore in 2015-16
* Facilities at eight World Heritage Sites to be restored
* Government to soon launch National Skills Mission
* During 2015-16 AIIMS-like institutes to be set up in Jammu and Kashmir, Punjab, Tamil Nadu and Himachal Pradesh; Bihar to get second AIIMS-like institution
* Karnataka to get an IIT; Indian School of Mines in Dhanbad to be upgraded to IIT
* Fully IT-based student-help facility for needy students
* Corporate tax to be reduced to 25 percent from 30 percent in four years
* Tax exemption for contributions to ‘Swachh Bharat Abhiyan’ and ‘Clean Ganga Fund’ by corporates as part of CSR
* In last nine months several steps taken to effectively deal with problem of black money
* Comprehensive new law to be brought against black money
* Rigorous imprisonment of up to 10 years for concealing income
* Prevention of Money Laundering Act to be amended to provide for forfeiture of property in India if the one abroad cannot be attached
* Law against Benami property in fight against black money
* Quoting PAN essential in property transactions
* Forwards Markets Commission to be Merged with SebiÂ
* Splitting of transaction not to be permitted
* Changes in excise on tobacco items, including cigarettes, paan masala and gutkha
* Excise duty on footwear with leather uppers to be reduced to six percent
* Service tax and education levy to be consolidated from 12.36 percent to 14 percent
* Swachh Bharat cess of two percent, if necessary
* Tax regime to be rationalised
* Applicability of General Avoidance Rules (GAR) to be deferred by two years in view of problems faced in its implementation
* New structure to be put in place in banking sector for seamless integration of data
* Eastern states to be given opportunity to develop faster. Special boost to Bihar and West Bengal as in the case of Andhra Pradesh and Telangana
* Good progress in DMIC corridor and other infra-projects. Rs.1,200 crore earmarked and additional funds if pace of work picks up on ongoing projects
* Procurement law to be drawn up to ensure transparency and remove corruption
* Centenary of Deen Dayal Upadhyay to be celebrated; committee for this to be set up soon
* Good progress being made on Digital India
* To discourage transactions in cash, Rupee debit card to incentivise credit transactions
* In line with ‘Act East Policy’, steps to catalyse investment in this sector through a project development company to oversee investments in Cambodia, Laos and Vietnam
* Tourism has increased after Visa on Arrival introduced for 43 countries. This facility to be increased to 150 countries in different stages
* Public Debt Management Agency to be created to strengthen the bond market
* Gold Monetisation Scheme to be introduced; sovereign gold bonds to be introduced; working on developing Indian gold coin with Ashok Chakra on face
* Vision of making India cashless society
* Foreign Investment in alternative investment funds to be permitted
* Ports in public sector to be encouraged to utilise land under their control
* Make India investment-destination by streamlining permission procedures
* Five ultra-mega power projects each of 4,000 MW to be set up; Second unit of Kudankulam Nuclear Power Station will be commissioned in 2015-16
* Self Employment and Talent Utilisation (SETU) to be Established
* Integrated education and livelihood scheme to be launched
* National investment and infrastructure fund to be launched with corpus of Rs.20,000 crore to generate more funds
* Innovation initiative to be launched in NITI Aayog in the name of former prime minister Atal Bihari Vajpayee
* Government committed to increasing access of people to the banking system
* Postal network across the country to be used for increasing access to formal financial system
* Main challenges: increasing agricultural production; increasing investment in infrastructure; with manufacturing declining, Make in India will create jobs; cooperative federalism
* Agriculture credit targetted at Rs.8.5 lakh crore
* Rural jobs scheme to get Rs.34,699 crore; Allocation to be enhanced by Rs.5,000 crore if additional funds available; Every poor to get a job
* To work with NITI Aayog for creating a National Agricultural Market
* Need well-targeted system for subsidies.
* Direct transfer of subsidy to LPG consumers
* Appeal to well-off consumers to surrender subsidised LPG connections
* Organic farm schemes of agriculture ministry to be supported
* ‘Per drop More crop’ scheme for better irrigation
* Three achievements – Jan Dhan Yojna, coal auctions, Swachh Bharat
* Two more gamechanging reforms: Goods and Services Tax, JAM trinity (Jan Dhan Yojna, Aadhar, Mobile number) to ensure transparency
* Our achievement to conquer inflation, CPI inflation at five percent by year-end
* We are in an economic environment far more positive than in the recent past
* Undertaken several significant steps to energise the Indian economy in last nine months
* India’s chance to fly
* Budget proposals lay down roadmap for economic growth.
* “The Everlasting Flame” exhibition on Parsis to be launched
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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