Union Budget 2015: Positive, confident budget; indeed a roadmap for the future, say experts

New Delhi, Feb 28: The #RailwayBudget2015, held on the 26th of February, was received with a mixed bag of feelings. While there were few, especially the opposition, who believed that it was not clear what the ministry wanted to do, the public was happy that they will get quality services, instead of popular sops.

Having said that, it is to be considered that the existing state of the Railways needs an upliftment, especially when there have been immense security issues and lawlessness. Here is how the #UnionBudget2015 is as follows:

[Key takeaways from Union Budget 2015]

12:32 pm: Transport allowance, which is currently 800 per month, has been increased to 1600 per month: Arun Jaitley

Consolidated Service tax increased to 14%

12:30 pm: Sukanya scheme investors to be exempted tax

12:28 pm: Health Insurance limit increased from Rs 15,000 to Rs 25,000

12:23 pm: The rich & wealthy must pay more tax,propose to abolish wealth tax & replace it with an additional 2% surcharge on the super rich: A.Jaitley; Abolish wealth tax & replace it an additional 2% surcharge on the super rich with above 1 crore Rs annual income

12:15 pm: PAN number quoting made compulsory for transactions for more than 1 Lakh; Reduced taxes on Technical Services to 10% from 25%

Budget Estimates of Expenditure: 17 .77 lakh cr, of which Non Plan is 13.12 lakh cr, and Plan is 4.65 lakh crores: Arun Jaitley

12:12 pm:

Corporate Tax reduced from 30% to 25% for next four years for employment generation

12:05 pm: FM announces Make In India policy for self sufficiency in defense sector with an allocation 2.46 lakh crores

Special Assistance to Bihar and West Bengal

12:04 pm: Defence allocation for this fiscal is Ra2,46,727 Crores

I propose to set up All India Institute of Medical Sciences (AIIMS) in J&K, Punjab, Tamil Nadu, Himachal and Assam

[Read: Nirbhaya fund to aid one stop crisis centres]

Propose to set-up an IT based student financial aid system under the PM Vidya Laxmi scheme

11:58 am: I propose to work on developing Indian gold coin which carries the Ashok Chakra, will help recycle gold available in country: Arun Jaitley

11:54 am: Will increase Visa On Arrival facilitiy from 43 to 150 Countries.

11:51 am: #Budget2015 to focus on 10 nominations for Heritage Sites

11:49 am: 1,000 cr for the Nirbhaya Fund

EPF and ESI amendments in the fray

Ports in public sector will be encouraged to corporatize & become companies under companies act

Public Debt Committee to bring domestic and international debt under one roof

Govt proposes to set up 5 ultra mega power projects, each of 4000 MW, will be plug and play projects: Arun Jaitley

11:38 am: New scheme called Nayi Manzil to enable Minority youth without school-leaving certificates to get employment : @Arunjaitley

Tax free Infrastructure bonds for projects in Railways and roads.

Public investment in Infrastructure required; Infrastructure bonds for rail, road projects; Investment in Infrastructure to go up by 70,000 crores in 2015-16 over 2014-15.

11:34 am: I propose a new scheme of providing physical aids for senior citizens living below poverty line: Finance Minister Arun Jaitley

Govt. is committed to bring a Universal social security system for all.

FM Arun Jaitley's Fiscal Deficit targets: FY15-16 3.9%, FY16-17 3.5%, FY 17-18 3%

11:31 am: We will also launch the 'Atal pension yojana', which will provide a defined pension: Finance Minister Arun Jaitley

Accident death insurance covering 2 lakh for a premium of RS 12 for the poor

Proposes a Mudra Bank of corpus of 20000 crores to refinance the MFI's . Will fund the unfunded.

To increase income of our farmers, we propose to create a national agriculture market: Finance Minister Arun Jaitley

Mudra Bank for lending SC/ST entrepreneurs

11:25 am: 5,300 cr for micro-irrigation

We need to cut subsidy leakage not subsidy themselves; The states get 62% of the total resources.

Public Investment needs to step in to catalyze the investment in PPP

11:18 am: Arun Jaitley,FM Budget 2015 : Challenges-Agricultural incomes are under stress, have to increase investment in infrastructure

MNREGA gets place in the budget

11:17 am: 50 lakh toilet already built, 6 crore toilet targeted

Housing for everyone by 2020

Three achievements: transparent auctions & Swachh Bharat

States are equal partners in Economic growth

11:10 am: Monetary Committee with RBI to oversee that inflation is below 6%

11:06 am: The latest CPI inflation is 5.1 % and whole sale price inflation is negative: Arun Jaitley speaking in Lok Sabha' employment, education for women, girls, agriculture, farm incomes, power and digital connectivity, mainstreaming NE states; India is set for flight, say Global experts

States have been empowered financially: Jaitley

11:04 am:

11:03 am: Will give a direction on certainty in taxes : Sanjiv Choudhary,Partner International Tax & Regulatory Services

11:02 am: Union Budget begins

Jay Panda,BJD Budget 2015 : The expectations are very high as it is the first full-fledged budget of this Government

Budget should address health,education & other aspects, it must look into the overall development of the nation : Dilip Pandey,AAP

Prakash Javadekar Budegt 2015 : It will be a roadmap for development, will fulfill people's aspirations

10:06 am: People offer prayer, havan at reigious places

The Union Budget too faces a lot of expectations. Although the government is considered pro-Popular, it is to be seen whether the ministry thinks for the 'Popular' or not.

10:02 am: Finance Minister reaches the Parliament

[Read: Indeed, a game changer, Union Budget 2015 saw people praying in religious places]

9:13 am: Finance Minister Arun Jaitley at the Finance MInistry

8:43 am: People wait in anticipation

See more

OneIndia News