The government will present the union budget 2019 on february 1, a day after the budget session of parliament commences on january 31. Taxes and only a third from direct taxes, union budget 201516 has moved. The budget clearly did not disappoint as it gave due importance to all sections of the economy and tried to enhance the easeofdoing business while keeping its focus on infrastructure development. Union finance minister arun jaitley along with mos finance, jayant sinha and other ministry officials, coming out of north block office before presenting the union budget 2015. Here are the highlights from the infrastructure, farm and social sector. Union budget 2015 16 is special as this is the first budget after the creation of national institution of transforming india niti and acceptance of 14th finance commissions ffc recommendation of substantially higher devolution of union taxes to states. Infrastructure and construction sectors building the nation 7 message from deloitte while the level of development of any economy can be judged by its infrastructure, the level of investor enthusiasm can be gauged by its construction industry. While urban development segment broadly consists of subsegments such as water supply, sanitation, urban transport, schools, and healthcare.
Construction activities contribute more than 10% to indias annual gdp and this is one of our largest. Gross domestic product gdp growth of india for 201516 projected between 8. Gross domestic product gdp growth of india for 201516 projected between 88. Challenges and opportunities this note has been prepared as a background note for the 1818 society presentation of 20 february 2014 on the above topic. The union budget of 201516 was the first full budget to be presented by the modi led government and was preceded by sky high expectations of reform. Proposal to introduce a regulatory reform bill that will bring about a cogency of approach across various sectors of infrastructure. Let us take a look at 15 key announcements on the infrastructure front. This is owing to an increase in expenditure on petroleum, fertiliser, food, and other interest subsidies. Union budget 201516 india, indian union budget 201516. Indian budget 2015 16, central excise duty changes, chapter wise. The union budget is presented to the parliament in two parts. Pmo weighs food for all, may do away with need for ration card, ids. Union budget 201516 india, indian union budget 201516, pdf.
Budget 201718, with focus on providing thrust to affordable housing and infrastructure. Brief summary, financial, general, family, it latest update. Reliance securities lists different budget proposals and their impact on different sectors. However, the measures fell short of market expectations, as dalal street took a big hit. Further, the clarification on tax related matters on reits and invits, which are the key instruments announced in the last budget for channeling funds into the real estate and infrastructure sectors, is. In budget 201920, the government has allocated rs 6,60,471 crore as payment of interest on loans. Investment in infrastructure will go up by 700 billion rupees in 201516, over the last year. There are 16 critical infrastructure sectors whose assets, systems, and networks, whether physical or virtual, are considered so vital that their incapacitation or destruction would have a debilitating effect on security, national economic security, national public health or safety, or any combination thereof. Among the key sectors, budget 201920 has allocated rs 3,05,296 crore to the defence sector maximum for any sector. Service tax changes as per indian union budget 2015 16. Memorandum explaining the provisions in the finance bill, 2015. Union budget 201718 building, construction and real estate.
The construction industry in india consists of the real estate as well as the urban development segment. Union budget of india 201516 highlights and analysis. Major expectations of the sector from union budget 201718 were. Taxfree bonds for projects in rail road and irrigation ppp.
Infrastructure impact of budget proposals on sectors. In his union budget 2019 speech, goyal also highlighted several achievements made by the infrastructure sector last year. The total assets under management of the industry was rs 11,81,356 crore at the end of january. The key highlights of union budget 202021 are as follows. As per the budget, here is the list of 11 different economical sectors and the respective monetary grants to be issued for the next fiscal year beginning april 1, 2015. This announcement implies that expenses on the infrastructure and in only specific cases. The union budget for 201516 has been announced by mr arun jaitley, union minister for finance, government of india, in parliament on february 28, 2015. Union budget 2020 highlights the key highlights of the union budget 20202021 are as follows 103 lakh crore infra projects besides providing about rs 1.
Union budget of india 201819 highlights pdf cracku. Infrastructure based on indian union budget 2015 2016. Of bold strokes and fine prints an analysis of union budget 201516. Union budget analysis 8 hopefully lessen some of the pressure on the public sector banking system. Publicprivate partnership ppp mode of infrastructure. The government sought to boost growth in the union budget, which hiked spending on the farm sector and proposed cuts in personal taxes. Union budget 2014 2015 the union budget 2014 2015 aims to cater all groups of the society with a motto, sab ka saath sab ka vikas. Ports in public sector will be encouraged to corporatise. This effort of care has been part of our tradition to provide this analysis as soon as possible after. Union budget 201415 india presented by mr p chidambaram, the union finance minister, in parliament on feb 17, 2014. Macroeconomic framework for the relevant financial year. Nirmala sitharaman, today unveiled a series of farreaching reforms, aimed at energizing the indian economy through a combination of shortterm, mediumterm, and longterm measures. Agricultural budget, basic budget, important points, pension for senior citizens, changes made by the budget committee.
African regional infrastructure regional infrastructure in sub saharan africa. Strong macro economic fundamentals are depicted both in the economic survey and the budget. Union budget 201415 india, indian union budget 201415. Union budget 2016 7 key takeaways for infrastructure sector. Union budget 2015 16 is being presented by finance minister mr. Its important to keep the money flowing during a crisis. Presenting the first union budget of the third decade of 21 st century, finance minister smt. Fm said the focus is on infrastructure for economic development and 6,500 projects across sectors under national infrastructure pipeline nip envisions ease. Highlights of union budget 2015 16 affecting financial sector lfinancial inclusion 12. The finance minister presented the union budget for the year 2018 amidst the usual fanfare to. Naturally, the anticipation among the citizens as well as the economists were on the rise. Economy on the eve of union budget 201516 phd chamber. Union budget 2015 16 impact on the real estate and infrastructure sector industry expectations higher budgetary allocation in key infrastructure sectors like irrigation, roads, power, ports, water supply, etc stimulus to be provided for development of infrastructure in nonmetro cities.
From 20 february until the presentation of budget about 100 government employees remained locked up in the north block of the secretariat building, new delhi, which houses the budget printing press, to maintain secrecy. An analysis of the union budget from 2010 2015 education. Understanding the changes in indias fiscal architecture a working paper series by cbga. Union budget 202021 india date and time, timings, income tax slab rate expectations. Mutual fund industry seeks tax sops to boost long term flows in the capital market. Union budget infrastructure investment arun jaitley infrastructure bonds public investment roads budget 2015.
The budget documents presented to parliament comprise, besides the finance ministers budget speech, of the following. Infrastructure and construction sectors building the nation. Arun jaitley on 28th february presented in parliament the union budget 201516. In 201920, the total expenditure on subsidies is estimated to increase to rs 3,38,949 crore. If you continue browsing the site, you agree to the use of cookies on this website. The real estate segment covers residential, office, retail, hotels and leisure parks, among others. More or less, students want better faculty and infrastructure. List of monetary allocations to various sectors new delhi, february 28, 2015 updated 17. It is proposed to introduce tax free infrastructure bonds for the projects in the rail, road and irrigation sectors. Full text of fm arun jaitleys speech finance minister arun jaitley on saturday presented his maiden fullyear budget for the 2015 16 financial year in the lok sabha. To meet these challenges public sector needs to step in to catalyse investment. Highlights of infrastructure, farm and social sector finance minister arun jaitley on saturday proposed the union budget 2015 2016. This budget has done just that by stepping up the outlay for the infrastructure sector without compromising on fiscal discipline.
Tax free infrastructure bonds for projects in the rail, road and irrigation sectors. We do hope to hence provide a comprehensive view of the budget which the reader should find useful. Big push for infrastructure, manufacturing sector increase in service tax rate from 12 per cent to 14 per cent can be viewed as a. The beginning of the budget printing began on 19 february 2015 with the traditional halwa ceremony. Major highlights of proposed tax slab for ay 201819. The union budget 2017 has given a major push to the infrastructure sector. It includes the effect of railway budget union minister for finance shri arun jaitley on 28 th february presented in parliament the union budget 2015 16, with a focus on growth, promoting entrepreneurship and manufacturing, rationalizing tax regime and announcing some relief to common man. The analysis which has been done by our team looks at both the macro implications of the proposals as well as the impact on various sectors. The budget 202021 will be presented by finance minister nirmala sitaraman. While making his maiden budget speech in parliament on july 10, the union finance minister shri arun jaitley said that india has a strong urge to grow and free itself from the curse of poverty. We are bringing you the highlights and key announcements of budget 2015 16.
Infrastructure sector has a huge untapped potential and it will be the main driving force for higher economic growth, going forward. Thirdly, i also intend to permit tax free infrastructure bonds for the projects in the rail, road and irrigation sectors. Union budget2015 16 foreword the 9 months of new government has come with a budget which lays emphasis on a great vision for future india with many forward looking at well intended plans and programs. Goods and service tax gst, jan dhan, aadhar and mobile jam for direct benefit transfer. Last year, the interest paid was rs 5,87,570 crore. Smoking, eating out, air travel to be costlier manufacturing sector neglected. Highlights of union budget 201516 affecting financial sector. Investment in infrastructure will go up by rs70,000 in 2015 16 over last year.