By February 28, 2015 0 Comments Read More →

Union Budget 2015 Highlights

Finance minister Arun Jaitley presented Union Budget 2015 of Prime Minister Narendra Modi’s government on Saturday.

Here are sector-wise highlights: the Union Budget 2015:


  • Abolition of Wealth Tax.
  • Additional % surcharge with income of over Rs. 1 crore
  • Rate of corporate tax to be reduced to 25 % over next years.
  • No change in tax slabs.
  • An individual tax payer will get total exemption of up to Rs. 4,44,200.
  • 100% exemption for contribution to Swachch Bharat, apart from CSR.
  • Service tax increased to 14 per cent.


  • Rs. 25,000 cr for Rural Infrastructure Development Bank.
  • Rs. 5300 cr to support Micro Irrigation Programme.
  • Target of Rs. 8.5 lakh crore of credit for agricultural sector


  • AIIMS in Punjab, Tamil Nadu, Jammu and Kashmir, Himachal Pradesh, Bihar and Assam.
  • IIT in Karnataka; Indian Institute of Mines in Dhanbad to be upgraded to IIT.
  • PG institute of Horticulture in Armtisar.
  • Kerala to have University of Disability Studies
  • Centre of film production, animation and gaming to come up in Arunachal Pradesh.
  • IIM for Jammu and Kashmir and Andhra Pradesh.



  • Rs. 70,000 crores to Infrastructure sector.
  • Tax-free bonds for projects in rail road and irrigatio
  • PPP model for infrastructure development to be revived and government to bear majority of the risk.
  • Rs. 150 cr allocated for Research & Development
  • Government proposes to set up 5 ultra mega power projects, each of 4000MW.


  • Allocation of Rs. 2,46,726 crore; an increase of 9.87 per cent over last year.
  • Focus on Make in India for quick manufacturing of Defence equipment.


  • Sovereign Gold Bond, as an alternative to purchasing metal gold.
  • New scheme for depositors of gold to earn interest and jewellers to obtain loans on their metal accounts.
  • To develop an Indian gold voin, which will carry the Ashok Chakra on its face, to reduce the demand for foreign coins and recycle the gold available in the country.


  • 50,000 toilets constructed under Swachh Bharat Abhiyan.
  • Two other programmes to be introduced- GST & JAM Trinity. GST will be implemented by April 2016.
  • MUDRA bank to finance micro finance orgs to encourage first generation SC/ST entrepreneurs.
    Housing for all by 2020.
  • Upgradation 80,000 secondary schools.
  • DBT will be further be expanded from 1cr to 10. 3 cr
  • Government will contribute 50% of the premium limited to Rs. 1000 a year for the Atal Pension Yojna.
  • New scheme for physical aids and assisted living devices for people aged over 80 .
    Government to use Rs. 9000 cr unclaimed funds in PPF/EPF for Senior Citizens Fund.
  • Rs. 5000 cr additional allocation for MGNREGA.
  • Government to create universal social security system for all Indians.


  • Rs. 75 cr for electric cars production.
  • Renewable energy target 2022: 100K MW in solar; 60K MW in wind; 10K MW in biomass and 5K MW in small hydro


  • Development schemes for churches and convents in old Goa; Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to be under the new tourism scheme.
  • Visa on Arrival for 150 countries.

Did you like the budget? Give your opinion about the budget in comment section.

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