PRESENTED BY: SUMIT

CORPORATE TAX Corporate tax will be gradually reduced from 30% to

25% over the period of 4 yrs starting from April 2016.

It was announced that donation made to SwachhBharat Abhiyan & clean Ganga plan under social corporate responsibility.

Yoga trust were classified as charitable trusts and given tax benifits.

SERVICE TAX Service tax rate was raised from 12.26% to 14%.

Service tax exemption given to mutal fund agents was withdrawn.

Lottery ticket sellers and chit fund agents were brought under the ambit of service tax.

EXCISE DUTY The central excise duty rates were round off from 12.36% to

12.5%.

The excise duty on cigarettes was increased by 25%.

The excise duty on plastic bags was increased from 12% to 18%.

The excise duty on soft drinks & packaged water was increased from 12% to 18%.

The excise duty was removed from compound used in the manufacture of aggarbatti.

The excise duty on leather footware was reduced from 12% to 6%.

SOCIAL SECURITY Salaried employees were given the choice between

employees provident fund & national pension scheme as their pension fund.

Pradhan mantri suraksha bima yojana with annual premium of rs.12 will provide a coverage of rs 2lakh for full disability or death, and 1 lakh for partial disability.

Pradhan mantri jeevan jyoti bima yojana is a insurance scheme with an annual premium of rs330, it will pay rs2lakh in case of death.

CUSTOM DUTY Import duty on various refrigerator components were

removed.

Import duty on solar water heater were removed.

Duty on imported commercial vehicles was increased from 10% to 40%.

EDUCATION A scheme called “ Nayi Manzil” was announced which

will help minority youth without school- leaving certificate to find employees .

AIIMS for announced for jammu & kashmir, punjab, tamil nadu, himachal pradesh and assam.

IIT will be set up in karnatka.

An indian school of mines, Dhanbad will be upgraded to an IIT.

IIM announced for J&K and andhra pradesh.

NEW PROJECTS 5 IIMs to be opened in HP, Punjab, Bihar, odisha,

Rajasthan.

5 more IITs in Jammu, Chattishgarh, Goa, Andhra Pradesh and kerala.

4 more AIIMs comes in Andhra Pradesh, West Bengal, Maharashtra, U.P.

INVESTMENT

Permanent account number was made mandatory for transactions above 1 lakh.

Three new gold deposit scheme were announced to reduce import of gold.

Gold coin with the Ashoka Chakra on the face will be created.

ALLOCATION RS 100 crore to support about 600 new & existing

community radio stations.

100 crore for metro projects in lucknow & ahmedabad.

2037 crore for set asside for integrated gangaconservation mission called “Namami Gange”.

150 crore alloacated for increasing safety of women in large cities.

7060 crore for the project of developing 100 smart cities.

PRICE INCREASING

PRICE FALL