Union Budget 2017-18: Flashes
01 Feb 2017
- Deemed rental taxation relaxed for 1 yr for builders holding stock in trade, says KPMG
- FIPB may be phased out by 2017-18. New FDI policy under consideration, says KPMG
- Relaxation in tax incentive conditions could make housing more affordable, says KPMG
- Cap on cash transaction over 3 lakhs to help increase bank deposit base, EY says
- Increased purchasing power for aam janta to drive consumption, says EY
- No Major Changes In Existing Indirect Taxes In Light Of GST Implementation, says EY
- Simplified Tax Return Forms For Those Earning Salary Income Upto Rs 5 Lakh, Says KPMG
- Net revenue loss in direct tax could be Rs 20,000 cr due to exemptions, says FM
- Greater accountability on tax officers for errors of commission & omission, says FM
- Not proposing many changes to indirect taxes given GST roll-out plan, says FM
- GST implementation to bring more taxes to states & centre, says FM
- CBEC will continue to strive to implement GST, says FM
- GST council has finalised recommendations on all issues based on consensus, says FM
- Substantial progress in ushering in GST regime, sys FM
- To levy surcharge of 10% on income between Rs 50 lakh-1 crore, says FM
- Tax foregone from deduction in tax rate at Rs 15,500 cr, says FM
- 50% saving in income tax if 1 person is earning up to Rs 5 lakh, says FM
- Reduce existing tax rate for income of Rs 2.5-5 lakhs to 5% from 10%, says FM
- Govt trying to bring more people into tax net, says FM
- For quick refund of tax returns time-frame reduced to 12 months, says FM
- CBDT circular becomes null & void for FPIs, says FM
- To exempt some FPIs from indirect transfer provisions, says FM
- Political parties will need to file income tax returns, says FM
- Propose to amend RBI Act for issue of electoral bonds for political funding, says FM
- Maximum cash donation receivable by political party from one source at Rs 2,000, says FM
- Propose transparency in political party funding, says FM
- Exempt CVD, SAD on miniature POS & m-POS machines, says FM
- No transaction over Rs 3 lakh will be permitted in cash, says FM
- To cut presumptive turnover threshold for companies w/turnover up to Rs 2 cr to 6%, says FM
- Basic customs duty on LNG cut to 2.5% from 5%, says FM
- To reduce corporate tax to 25% for companies with a turnover upto Rs 50 cr, says FM
- Propose carry-forward of MAT to 15 years from 10 years, says FM
- Not practical to remove MAT, says FM
- Profit linked-deductions for start-ups reduced to 3 years out of 7 years, says FM
- Holding period for land & building will be reduced to 2 yrs from 3 yrs, says FM
- Propose to make changes in capital gains tax for housing, says FM
- Instead of build-up area, carpet area will be counted for affordable housing, says FM
- Thrust of tax proposals will be to stimulate growth, says FM
- Net tax revenue growth at 17% for last 2 years, says FM
- Post demonetisation deposits above Rs 80 lakh in Rs 1.48 lakh accounts, says FM
- New Metro Rail Policy to be announced; will open up new job possibilities, says FM
- Post demonetisation deposits between Rs 2-80 lakh made in 1.09 crore accounts, says FM
- No of people showing income above Rs 50lk annually is only 1.72 lk people, says FM
- Govt to set up dairy processing fund
- India largely a tax non-compliant society, says FM
- Govt to take steps to promote digital payments at petrol pumps, hospitals, says FM
- FY18 revenue deficit pegged at 1.9% of GDP, says FM
- Govt targetting Rs 2,500 cr digital transactions across platforms like UPI
- Peg fiscal deficit for 2017-18 at 3.2%, in-line with market expectations, says FM
- Govt raises allocation for MNREGA from Rs 38500 cr in FY17 to Rs 48000 cr in FY18, says FM 12:22 Rev deficit at 2.1%, says FM
- Tax-to-GDP ratio very low in India, says FM
- Net borrowing limited to Rs 3.48 lk cr, says FM
- Govt allocated Rs 10,000 cr for recapitalisation of PSU banks, says FM
- Peg FY19 fiscal deficit at 3%, says FM
- Govt doubles lending target of banks to Rs 2.44 lakh cr
- Peg fiscal deficit for 2017-18 at 3.2%, says FM
- Govt allocated Rs 3.96 lakh cr for infrastructure, announces a new trade infrastructure export scheme, says FM
- FRBM panel recommended fiscal deficit at 3% for next 3 years, says FM
- Govt proposes to create integrated PSU oil major
- FRBM Review Committee recommends debt to GDP ratio of 60% by 2023, says FM
- Transport sector allocated Rs 2.41 lakh cr, says FM
- Defence expenditure excluding pension at Rs 2.74 lakh cr, says FM
- Govt to set-up new crude oil reserves
- Total resources to be transferred to states & UTs estimated at Rs 4.11 Lk Cr, says FM
- Allocation of capital expenditure up 25% YoY, says FM
- To rationalise number of tribunals, says FM
- Considering new law to confiscate assets of economic offenders, says FM
- Web-based pension distribution system for defence to be established, says FM
- Propose to create an integrated oil major, says FM
- Amend Negotiable Instruments Act to protect payees of dishonoured cheques, says FM
- Propose to create a payment regulatory board at RBI, says FM
- Panel on digital payment recommended reform in digital pay systems, says FM
- To take steps to promote digital payments at petrol pumps & hospitals, says FM
- Propose aim of Rs 2.44 lakh cr under Mudra scheme, says FM
- Targeting 2,500 crore digital transactions across platforms like UPI, says FM
- Govt will launch 2 new schemes to promote BHIM App, says FM
- AadhaarPay will be launched shortly, says FM
- Shift to digital platforms will benefit the common man, says FM
- Propose revised mechanism for time-bound listing of PSUs, says FM
- Double lending target of banks to Rs 2.44 lakh crore, says FM
- Addl Allocation for recap Of PSU Banks Will Be Made If Needed, says FM
- Will continue use of ETFs for divestment, says FM
- Re-financing of housing loans to give impetus to real estate sector
- IRCTC, IRCON & IRFC to be listed on stock exchanges, says FM
- Rs 10,000 cr allocated for recapitalisation of PSU banks, says FM
- Govt to take up second phase of solar power development for additional 20,000 MW, says FM
- Propose to create integrated PSU oil major, says FM
- National highway allocation at Rs 64,000 cr
- Listing of CPSE will increase accountability, says FM
- Atleast 25 stations re-development contracts will be awarded in 2017-18, says FM
- Expert panel to help integrate spot & derivative commodity market, says FM
- Announce a new trade infrastructure export scheme, says FM
- Allocated Rs 3.96 lakh crore For infrastructure, says FM
- FIPB to be abolished, roadmap in the next few months, says FM
- Govt proposes to finish 1 cr houses by 2019 for those living in kachcha houses, says FM
- Govt hiked allocation for women skill development to Rs 1.84 lakh cr in FY18, says FM
- New FDI policy under consideration, says FM
- Govt to set up 100 India-International skill centres, says FM
- 5 special tourism zones to be set up in partnership with states
- Proposals for electronics manufacturing received in last 2 yrs for Rs 1.26 lakh crore, says FM
- Under Bharat Net, Optic fibre cable has been laid out In 1,55,000 km, says FM
- Recent spectrum auctions have removed spectrum scarcity, says FM
- To take up second phase of solar power development for additional 20,000 mw, says FM
- Transport sector allocated Rs 2.41 lakh cr, says FM
- Set-up new crude oil reserves, says FM
- Bharat Net allocation at Rs 10,000 crore, says FM
- 2000 km of coastal roads have been identified for development, says FM
- New rules for pricing medical devices should benefit common man
- AAI Act to be amended to enable monetisation of land, says FM
- Cash less reservation have improved to 68% from 58%, says FM
- National Highway allocation at Rs 64,000 crore, says FM
- New Metro Rail policy to be announced; will open up new job possibilities, says FM
- Service charges on e-tickets booked via IRCTC to be withdrawn, says FM
- Railway Throughput to be enhanced by 10%, says FM
- To commission 3,500 km of railway tracks in 2018, says FM
- Unmanned level crossing in railways will be eliminated by 2020, says FM
- Atleast 25 stations re-development contracts will be awarded in 2017-18, says FM
- Centre to fund 55k cr out of 1.31 lk cr railway infra budget, says FM
- Rail Sanraksha Fund will be created with corpus of 1lac crore for rail safety, says FM
- Propose to invest Rs 1.31 lakh crore in railways in 2017-18, says FM
- Total capital development outlay for Railway at 1.3 lk cr, says FM
- Pilot project for Aadhar cards containing health details for senior citizens, says FM
- Aadhaar-based smart cards to be introduced for senior citizens, says FM
- Outcome-based monetary measures to SC, ST by NITI Aayog, says FM
- Allocation to scheduled castes upped to Rs 52,393 crore, says FM
- New rules regarding medical devices will be formulated; will attract investment in sector, will reduce cost of the devices, says FM
- Govt committed to ensuring conducive labour environment, says FM
- Will take legislative reforms to simplify labour laws in India, says FM
- Propose to amend drug rules to ensure drugs available at reasonable prices, says FM
- Govt committed to take structural reform in medical education, practice, says FM
- 1.5 lakh health sub-centres to be transformed to health wellness centres, says FM
- Will encourage reputed hospitals to start courses, says FM
- Bank lending rates for housing loans coming down in wake of demonetisation, says FM
- Affordable housing to be given infra status, says FM
- Have hiked allocation for women skill development to Rs 1.84 lakh crore in FY18, says FM
- Mahila Shakti Kendras will aim for Woman Empowerment, says FM
- Mahila Shakti Kendra will be set up at village level; allocation Rs 500 crore, says FM
- 5 special tourism zones to be set up in partnership with states, says FM
- Will set up 100 India-international skill centres, says FM
- Propose to set up national testing agency for entrance exam for higher education, says FM
- Dairy Processing Infra Fund Will Be Created W/Corpus Of Rs 8,000 Cr In 3 Yrs
- Total allocation for rural sector up by 24% AT 1,83000 cr, says FM
- Allocation for rural, agri & allied ind at Rs 1.87 lakh crore, up 24% YoY, says FM
- 19000 cr allotted for PM Rural road plan in FY18, says FM
- Will undertake reforms in UGC to improve higher education, says FM
- Will Achieve 100% Rural Electrification By May 1, 2018
- Sanitation coverage in rural areas risen to 60% vs 42% earlier, says FM
- On our way to achieve 100% Village electrification by 1st May 2018, says FM
- Innovation fund for secondary education to be created, says FM
- Rs 4,800 crore allocated under Deen Dayal Upadhyaya Gram Jyoti Yojana, says FM
- Pace Of Construction Of Roads Has Increased To Rs 133 Km/Day In 2017
- Pradhan Mantri Gram Sadak Yojana construction at 133 km per day now vs 73 km per day earlier, says FM
- Increased allocation to Rs 23,000 crore for PM Awas Yojan, says FM
- Propose to finish 1 crore houses by 2019 for those living in kachcha houses, says FM
- To up crop insurance coverage to 50% in FY19, says FM
- Pace of construction of roads has increased to Rs 133 km/day in 2017, says FM
- MNREGA target at 48000 cr in FY18, says FM
- Participation of women in MNREGA has increased to 55% from 48% in the past, says FM
- Long-term irrigation fund set up in NABARD, additional corpus Rs 20,000 Cr
- National agri markets to be expanded to 585 markets, says FM
- Dairy processing fund initial corpus at Rs 2,000 crore, says FM
- Modern law on contract farming to be prepared, says FM
- Propose to integrate farmers to the agro-processing units, says FM
- Will bring 1 crore households out of poverty by 2019, says FM
- Coverage of national agriculture market will be expanded, says FM
- Dairy processing infra fund will be created w/corpus of Rs 8,000 crore in 3 yrs, says FM
- Long term irrigation fund set up in NABARD, additional corpus Rs 20,000 cr , says FM
- Will support NABARD to digitise 63,000 primary agri co-ops, says FM
- 5000 cr worth dedicated micro irrigation fund to be set up by NABARD, says FM
- Will take steps to make sure farmers get better prices for harvest, says FM
- Sowing farmers should feel secure against natural calamities, says FM
- To up crop insurance coverage to 50% in FY19, says FM
- Will ensure flow of adequate credit to under privileged areas, says FM
- Fasal Bima Yojana coverage will be increased to 40%, says FM
- Agenda of Budget 2017-18 is transform, energize & tech India, says FM
- Farmers will benefit from 60-day interest waiver announced by PM, says FM
- Agriculture expected to grow at 4.1% in the current year, says FM
- Target for agri credit fixed at Rs 10 lakh crore this year, says FM
- Committed to double farmer income in five years, says FM
- Propose to present Budget under 10 district themes, says FM
- Agenda is to transform, energise & clean India, says FM
- Railways will be the centre stage of government's fiscal policies, says FM
- Have done away with planned & non-planned allocation, says FM
- Merger of Rail & General Budget is a historic step, says FM
- Budget has been advanced to enable parliament to avoid vote on account, says FM
- Overall approach has been to spend more with fiscal prudence, FM
- Looking to spend more on rural infrastructure and social spending, says FM
- Surplus liquidity in the banking system will aid in lower cost of lending & credit growth, says FM
- Overall approach in Budget has been to spend more in rural areas, says FM
- Higher growth forecast based on policies, commitment to eco reforms, says FM
- IMF pegs India growth at 7.2% in 2017, 7.7% in 2018, says FM
- Pace of remonetisation has picked up, says FM
- We are at an important point of growth & development, says FM
- Impact of demonetisation not expected to spill over to next year, says FM
- Drop in eco activity during remonetisation transient, says FM
- Demonetisation seeks to make our GDP cleaner and bigger, says FM
- FM: Passing of const amendment of GST, demonetisation tectonic policy shifts
- Demonetisation a bold & decisive measure, says FM
- FM: India seen as an engine of global growth
- India has considerably improved its policies w.r.t trade & commerce, says FM
- FM: CAD declined to 0.3% of GDP in H1 2016-17
- Forex Reserves offer a comfortable cover for 12 months of imports, says FM
- CPI is down from 6% in July to 3.4% in December, 2016, says FM
- FM: India a bright spot in global eco landscape
- FM: Monetary policy stance for US Fed a concern for emerging economies
- IMF estimates world GDP will grow by 3.4% in 2017, says FM
- FM: World economy faces a lot of uncertainty