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IIM Indore PGP Mumbai Follow us on

Current Afairs (17thFeb-5thMarch 2016)Budget Highlights

The total budget size has been estimated to be Rs 19.78 Lakh Crorewith non-plan expenditure kept at Rs14.28 lakh Crores.The Government has set its pre-announcedscal decit targetto 3.! o"G#P.

Fund Allocation$Total outla% "or in"rastructure - &s. ''$(')*crore

'

+llocation "or +griculture and Farmers, wel"are is &s. 3() crore3

+llocation "or social sector including education and health care / &s.$( $($ crore.)

+llocation "or s0ill development / &s. $1) crore. This includes training through Massive 2pen 2nlineourses and entrepreneur education.

5 +llocation "or rural sector - &s. 4(4* crore. + sum o" &s 3(11 is allocated towardsMahatma Gandhi &ural 5mplo%ment Guarantee 6cheme7M8&5G69

Major Policy Decisions$Natinal !ensin "#ste$ (N!"9 which was earlier ta:able on maturit%( has now been made partiall%ta: e:empt.8P6 will have )1! o" maturit% e:empt "rom ta:. +nnuit% "und which goes to legal heir willnot be ta:able

'%&"(%a' &educted at "urce9-T#6 is a means o" indirect ta: collection and ismanaged b% the entral Board o"#irect Ta:es 7B#T9.Incomes such as salar%( lotteries"rom ban0s and pa%ment o" amount is withheld as source The government has decided toimpose a %&"at $ ! on the purchase o" lu:ur% cars costing more than $1la0h whereasT#6 on lotteries has been reduced to !.

metro cities and *1 s;. meters in other cities

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The government has decided to bring bac0 General +nti-+voidance rules7G++&9 "rom $+pril '1$4

deserving. This will allow eas% access "or

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*'+lanatin8 India has been ran0ed at the 1th

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