budget for the year 2016-017

4. TRANSFORM INDIA
It indicates that we are focusing to increase:
1.Entrepreneurship.
2. Health.
3.Dialysis.
4. Agriculture.
5. Irrigation.

5. A budget is an annual financial statement of
government expected estimated receipts and
revenues in a financial year.
This budget is from 1st April 2016 to 31st March
2017
This is the Third Budget of MODI’s Government.
Predicition on Advance for the Year

6. 5.50 Lakh
Crores
14.28 Lakh
Crores
19.78 Lakh Crores

7. • Rise of 15.30% from previous year.
Planned expenditure is that expenditure that
government know where to invest it.
Example: like Banking sector, railway,etc
Expenditure that we do in case of any economic
problem, lowdown, depression of economy or at the
time of natural calamity.

8.  Agriculture and Farmer welfare
 Rural sector
 Social sector including Health
 Education , skills and job creation that leads to
Employment
 Infrastructure
 Financial sector reforms for Banking sector
 Government’s E-governance business including
startup INDIA Setup INDIA scheme
 Fiscal Discipline (Fiscal Deficit)
 Tax reforms (Direct and Indirect )

9.  Double the income of farmer till 2022.
 35,984 crore total allocated for agriculture sector during the
budget.
 Agriculture credit is Rs. 9 lakh crore. (In addition to 15000 crore
has been kept as Intrest provision)
 PRADHAN MANTRI PERSONAL BIMA YOGANA which was
launched on 2015 again benefted with 5500 crore rupeees this
year also.
 Soil Health Card scheme coverage to 14 crore form holding by
March 2017.
 PKVY(PARAMPARAGAT KRISHI VIKAS YOJANA)
UNDER THIS 5 Lakh acres of Rain Red area in given for organic
farming.
Soil Helath= to check Productivity of Soil.
 E platform for selling agriculture products. Which is to be
launched on 14th April 2016 on B.R Ambedkar Jayanti.

10. PMKSY = 28.5 lakh hectares of land was provided
total cultivated =141 million hectares
where as only 65 hectares of land is properly
irrigated.
 Rs. 20,000 crores for long term irrigation fund
Suistanable management of ground water
resources 6000 crores.
89 projects accelerated under irrigation benefit
programs from which 23 are going to complete till
31 st march 2017.
Price stablisation fund 900 crores

11.  NO change in Income tax slab
 Surharge increases from 12% to 15% on those person whose income is above 1
crore.
 STT= security transaction tax was 0.017% now it is increased to 0.05%
 If a person receive dividend in excess of 10 lakh per annum the he is liable to pay
10 % tax on it.
 Equalition levi @ 6 % to be imposed if a person making payment in excess to 1 lakh
in a year for online advertisement.
 KRISHI KALYAN cess @0.05% on all taxable services is going to start from 1st june
2016.
TAX AT SOURCE:
 Imposed 1% on purchase of Luxury card exceeding value of 10 lakh.
 Goods and services in cash exceeding 2lakh
INFRASTRUCTURE CESS:
 1% on LPG, CNG, small petrol
 2.5% on diesel cars
 4% on higher engine capacity on SUV
 Clean energy cess is now replaced by clean environment cess which was 200 per
ton but now it is 400 per ton.

12. Ceiling of tax rebate under section 87A increased from
2000 to 5000. relief of 3000 to those who reach upto
5lakh per annum.
Increase the limit of deduction of rent under section 80G
from 24000 to 60000.
Increase in the turnover limit under preasumpted
taxation scheme U/S GG AD of IT act to the turnover
limit of 2000 crore from the current limit of 1000 crore.
Corporate taxes on manufacturing companies on or
after 1st Jun 2016 25%+surcharge+cess.
New startups got 100% deductions of profit for 3 years.