Budget 2016-17

Mr. Jaitley gave relief to individual tax payers.

• Relief of Rs 3000/- to individuals having annual income less then Rs 5,00,000.

• Limit of deduction of house rent paid has been raised to Rs60,000 from existing Rs 24,000 per annum to give relief to employees who live in rented houses.

• Govt. Proposed Rs 50,000 deduction on interest on loan for first home buyers.

60% EPF deposits to be taxed on withdrawal after April 1

• Imposed a retirement tax at the time of final withdrawal on 60% of contribution made to EPF & other schemes.

• 100% tax exemption for 3 yrs, Allocation of Rs 500 crore for Sc/St & women entrepreneurs

---eligible for start-ups which is setup before April 1,2019

Health is Wealth• Set up of 3000 new generic

medicine stores to tackle shortage of drugs.

• Every hospital have the facilities of renal Dialysis.

• At least 2000 new dialysis centres will be started.

Say “NO” to tobacco

• Excise duty on cigarettes increased.

Branded garments cost increased

• Excise duty on ready-made products of Rs 1000 or more.

• Local mobiles, Smart Watches will be costlier.

• Eating out, watching movies will become expensive.

• Custom duty on Artificial jewellery & industrial solar water heater has gone up.

• 6% hike in the excise duty on jet fuel.

• Excise Duty on ATF is to be hike by 14% from 8%.

• Building of 10,000Km of national Highways.

• Up-gradation of 50,000Km of state highways to national highways.

• Govt. Is working on 100% village electrification by 2018.

• Allowing small, medium shops to open on all days.

• Allocation of Rs35,984 Crore for agriculture.

• Allocation to Pradhan mantri gram sadak yogana increased to Rs 19,000 Crore.

• Allocation for Rural sector is Rs 87,765 crore.

• Rs 38,500 allocated to MGNREGS.

• Allocation of Rs5,500 crore for crop insurance scheme.

• Allocation of Rs 1,51,581 crore for education and health care.

• Rs 9000 crore for swatch bharat abhiyan.

• 62 new navodaya vidyalaya will be opened.

• Allocation of skill devlopment is Rs 1804 crore.

• Total investment on road sector Rs 97,000 crore.

• Allocation of Rs 25,000 crore for recapitalisation of Public sector banks.