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    News
    All› Budget › Budget - 2015
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    March 3, 2015
    Budget proposals 2015-16 for Petroleum & Natural Gas sector
    Show AI Summary
    Subsidy rationalization keeps consumer support while restructuring fuel excise to fund infrastructure and boost energy investment.
    The Budget maintains subsidised LPG and kerosene while advancing Subsidy Rationalization via targeted transfers and voluntary surrender; it preserves total excise incidence on petrol and diesel but restructures levies to increase the additional excise component to fund infrastructure. Strategic underground crude storage caverns will be established and funded; central public sector oil and gas companies receive plan capital expenditure from internal and extra budgetary resources for sector projects. A phased corporate tax reduction and a National Investment and Infrastructure Fund with revitalised PPPs are promoted to attract investment.
    February 28, 2015
    Central Excise Notifications - General Budget 2015-16
    Show AI Summary
    Excise exemptions and tariff amendments adjust duty rates, scope of cess relief, and compliance procedures under central excise.
    Notifications revise central excise levy and exemptions: rescissions and substitutions amend prior notifications, withdraw or modify exemptions, and set new effective duty rates for specified tariff entries. Measures exempt goods from education-related cesses, provide full exemption for inputs consumed within factories for certain manufactures, adjust duty treatment for petroleum products, beverages, Pan Masala and Gutkha, and change optional duty-with-credit and without-credit regimes. Procedural changes amend Cenvat Credit Rules, packing-machine capacity and duty rules, MRP abatement entries, concessional removal rules to allow Letters of Undertaking in place of bonds, and advance ruling/registration provisions.
    February 28, 2015
    Service Tax Notifications - General Budget 2015-16
    Show AI Summary
    Service tax amendments update classifications, reverse charge and exemptions affecting exporters and registration procedures nationwide.
    The Budget package amends Service Tax notifications to specify resident firms for Advance Ruling, revise abatement entries, modify the Reverse Charge regime, update the mega exemption schedule, and broaden exporter service exemptions to include land customs stations; it also revises Service Tax Rules, rescinds a redundant notification and issues registration clarifications for single premises filings.
    February 28, 2015
    CENTRAL PLAN OUTLAY
    Show AI Summary
    Central Plan Outlay allocations outline sectoral and ministry-wise budgetary distribution and funding sources for the plan period.
    Central Plan Outlay tabulates year-on-year Actuals, Budget Estimates and Revised Estimates and presents consolidated plan totals by funding source-Budget Support and Internal and Extra-Budgetary Resources. It disaggregates the Grand Total into sectoral allocations (e.g., Energy, Transport, Social Services, Agriculture) and provides ministry- and department-level line items, with footnotes clarifying inclusion or exclusion of subcomponents such as rural housing and rural roads.
    February 28, 2015
    Self Employment and Talent Utilisation (SETU) to be Established
    Show AI Summary
    Self-employment facilitation: a techno-financial incubation programme to support startups with incubation, funding and capital access.
    The Government announced the establishment of Self Employment and Talent Utilisation (SETU), a Techno-Financial, Incubation and Facilitation Programme to support start-ups and self-employment activities-particularly technology-driven ventures-by facilitating incubation facilities, seed and growth funding, and improved access to global capital to enhance ease of doing business and promote job creation.
    February 28, 2015
    ATAL Innovation Mission (AIM) to be Set up
    Show AI Summary
    Atal Innovation Mission establishment to create a national innovation platform promoting hubs and grand challenges.
    Establishment of an Atal Innovation Mission within NITI as an Innovation Promotion Platform uniting academics, entrepreneurs and researchers to foster innovation, R&D and scientific research; promotion of a network of world-class innovation hubs and organisation of Grand Challenges for India; initial public funding allocation to support setup and early activities.
    February 28, 2015
    Corporate Tax to be Reduced and GST to be Implemented
    Show AI Summary
    Corporate tax reduction planned with phased cuts alongside exemption rationalisation; GST implementation to subsume education cesses.
    A phased corporate tax reduction is proposed alongside rationalisation and removal of exemptions to reduce disputes and broaden the tax base, with advance notice prior to implementation. Simultaneously, implementation of a Goods and Services Tax is planned to create a common market and reduce cascading taxation, and the Education Cess and Secondary and Higher Education Cess are to be subsumed into Central Excise Duty as part of the transition.
    February 28, 2015
    National Investment and Infrastructure Fund to be Set up
    Show AI Summary
    National Investment and Infrastructure Fund to mobilise long term capital, enabling the trust to raise debt and invest as equity.
    The Budget announces establishment of the National Investment and Infrastructure Fund as a trust with an annual allocation, empowering the trust to raise debt and invest as equity in infrastructure finance companies, thereby enabling those companies to leverage the injected equity to expand infrastructure financing.
    February 28, 2015
    Resources Transferred to State and U.T. Governments
    Show AI Summary
    Resource transfers to subnational governments outline composition and net transfer across tax shares, grants, loans and recoveries.
    Resource transfers to State and UT governments comprise States' share of taxes; Non Plan grants and loans; Central assistance for State and UT plans (grants and loans); and assistance for central and centrally sponsored schemes. These components sum to Total Grants & Loans, less recovery of loans and advances, to produce Net Resources transferred, which is disaggregated between State Governments and UT Governments. The statement also notes direct central releases to implementing agencies and investments from the National Small Savings Fund.
    February 28, 2015
    Investment In Infrastructure To Go Up By ₹ 70,000 Crore In Year 2015-16 Over Year 2014-15
    Show AI Summary
    Infrastructure investment increase proposed in Budget leads to higher outlays for roads, railways and PSU capex.
    An increase in central funding for infrastructure is proposed for 2015-16, comprising an additional 70,000 crore over 2014-15 from the Centre's funds and CPSE resources. The Budgetary measures earmark higher allocations for roads and augment gross budgetary support to Railways, while public sector unit capital expenditure (CPSE CAPEX) is projected to rise significantly over revised estimates for 2014-15.
    February 28, 2015
    Arun Jaitley Says Development Should be as Green as Possible
    Show AI Summary
    Public procurement law proposed to curb malfeasance and a Public Contracts disputes bill to streamline resolution.
    The government frames existing implicit carbon taxation on petroleum as internationally comparable and seeks balance on coal taxation versus power prices, launches an electric vehicle adoption and manufacturing scheme and revises renewable energy capacity targets, while proposing a public procurement law, a Public Contracts (Resolution of Disputes) Bill to streamline dispute resolution, and a Regulatory Reform Law to harmonise infrastructure regulation.
    February 28, 2015
    Expenditure
    Show AI Summary
    Debt servicing burden increases, raising interest share of revenue receipts and constraining fiscal space and allocations.
    Allocation separates Non Plan and Plan expenditure into revenue and capital components: major revenue non plan heads are interest payments, defence, subsidies, grants to states and pensions; capital non plan includes defence capital and loans. Plan expenditure distinguishes central plan and central assistance to state and UT plans across revenue and capital. Debt servicing aggregates repayment and interest payments and is compared with revenue receipts to indicate interest to receipts pressure on fiscal space.
    February 28, 2015
    Government to Launch A National Skills Mission Soon Aiims to be Launched in J&K, Punjab, Tamil Nadu, Himachal Pradesh and Assam in 2015-16
    Show AI Summary
    National Skills Mission consolidates skill training across sectors; Student Financial Aid Authority to centralize scholarships and educational loans access.
    The National Skills Mission will consolidate inter-ministerial skill initiatives and standardize procedures across 31 Sector Skill Councils, complementing rural vocational measures delivered through digital vouchers; separate vocational infrastructure projects and apprenticeship institutes are proposed for targeted States.
    February 28, 2015
    Forwards Markets Commission to be Merged with Sebi
    Show AI Summary
    Regulatory consolidation of commodity forward markets strengthens oversight by merging regulators to curb speculation and align capital flow control.
    Proposal to merge the Forwards Markets Commission into the securities regulator via enabling legislation in the Finance Bill to strengthen oversight of commodity forward markets and reduce speculation, together with a proposed amendment to foreign exchange law vesting government control over capital flows treated as equity to be exercised in consultation with the central bank.
    February 28, 2015
    8 Centrally Sponsored Schemes Delinked from Support of the Centre
    Show AI Summary
    Centre-State funding reconfiguration: select schemes fully Union funded, others delinked or shifted to revised sharing pattern.
    The Union Government reconfigures funding for Centrally Sponsored Schemes following higher tax devolution, designating 31 schemes for full Union sponsorship, 8 schemes to be delinked from Central support, and 24 schemes to operate under a revised Centre-State sharing pattern requiring increased State contributions; administrative Ministries/Departments must work out sharing details and implementation against 2015-16 plan outlays.
    February 28, 2015
    REVENUE RECEIPTS
    Show AI Summary
    Budget revenue receipts breakdown highlighting tax and non tax composition and fiscal deficit financing methods.
    Budget itemizes receipts into Tax Revenue (detailed by major tax heads and net of transfers to states and specific funds) and Non Tax Revenue (interest, dividends, grants, other receipts), yielding Total Revenue Receipts. Capital receipts are split into Non debt Receipts (loan recoveries and miscellaneous capital) and Debt Receipts (market loans, short term borrowings, external assistance, securities against small savings, provident fund and other net receipts). Total Receipts incorporate draw down of cash balances and identify financing of the fiscal deficit through debt and cash balances.
    February 28, 2015
    Five New Ultra-Mega Power Projects to be Set Up Second Unit of Kudankulam Nuclear Power Station Will be Commissioned in 2015-16
    Show AI Summary
    Plug-and-play power projects to be awarded after required clearances via transparent auction, enabling large infrastructure investment.
    The Budget announces five new plug-and-play Ultra-Mega Power Projects to be awarded after all required clearances and linkages are secured through a transparent auction system, with the model proposed for replication across other infrastructure sectors; it also records that the second unit of Kudankulam Nuclear Power Station is scheduled for commissioning in 2015-16.
    February 28, 2015
    Postal Network Spread Across the Country to be Used for Increasing Access to Formal Financial System
    Show AI Summary
    Financial institution classification expanded to bring larger NBFCs within SARFAESI recovery framework, affecting enforcement rights.
    The Budget proposes using the national postal network to establish a Payments Bank to widen access to formal financial services and support nationwide deposit-inclusion efforts; and proposes designating registered NBFCs meeting an asset-size threshold as Financial Institutions for purposes of the SARFAESI Act, thereby bringing qualifying NBFCs within statutory recovery mechanisms.
    February 28, 2015
    Universal Social Security System for all Specially the Poor and the Under-Privileged:
    Show AI Summary
    Universal social security: new insurance and pension schemes to extend life, accident and pension coverage with targeted subsidies.
    A programme of universal social security measures is announced to extend basic life, accidental and pension protections to the poor and under privileged by leveraging the Jan Dhan platform. Three principal schemes are proposed: a low cost accidental insurance plan, a defined benefit pension scheme with a temporary government co contribution incentive for new accounts, and a life insurance plan covering natural and accidental death for a nominal annual premium. A Senior Citizen Welfare Fund is proposed to appropriate unclaimed statutory savings to subsidize premiums for vulnerable groups and finance assistive devices for impoverished senior citizens.
    February 28, 2015
    BUDGET AT A GLANCE 2015-2016
    Show AI Summary
    Co-operative federalism expands state tax devolution, increasing state flexibility while shifting fiscal responsibility to states.
    Budget At a Glance 2015-2016 defines Revenue, Effective Revenue, Fiscal and Primary Deficits and sets out aggregate receipts, expenditures and borrowing needs. It emphasizes a shift to co-operative federalism with higher tax devolution to States reducing Centre fiscal space while increasing State flexibility to design and finance programmes; the Centre will continue catalytic support for national priorities. The Plan outlay is largely maintained, with increased allocations for infrastructure and social sectors, and adjustments to Centre-State sharing for several schemes, including delinking eight schemes.

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      Budget

      CENTRAL PLAN OUTLAY

      February 28, 2015

      Contents
      Summary
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      CENTRAL PLAN OUTLAY

      (In crore of Rupees)

       

      2013-2014

      2014-2015

      2014-2015

      2015-2016

      Actuals

      Budget Estimates

      Revised Estimates

      Budget Estimates

      Budget Support

      340479

      236591

      189766

      260493

      Internal and Extra Budgetary Resources of Public Enterprises, etc.

      263094

      247941

      237045

      317889

      Total - Central Plan Outlay

      603573

      484532

      426811

      578382

      Central Plan Outlay by Sectors

      Agriculture and Allied Activities

      17788

      11531

      10199

      11657

      Rural Development*

      51757

      3082

      1877

      3131

      Irrigation and Flood Control

      441

      1797

      896

      772

      Energy

      182388

      166275

      154878

      167342

      Industry and Minerals

      33433

      40209

      39397

      43113

      Transport**

      103959

      116202

      106242

      193417

      Communications

      16209

      13009

      13027

      12032

      Science Technology & Environment

      13535

      18792

      14821

      19023

      General Economic Services

      26064

      26318

      17303

      20333

      Social Services***

      150736

      79411

      64284

      81003

      General Services

      7263

      7906

      3887

      26559

      GRAND TOTAL

      603573

      484532

      426811

      578382

      Central Plan Outlay by Ministries/Departments 

      Ministry of Agriculture

      14363

      10694

      8735

      10670

      Department of Agriculture and Cooperation

      10163

      5846

      5326

      5846

      Department of Agricultural Research and Education

      2451

      3715

      2500

      3691

      Department of Animal Husbandry, Dairying and Fisheries

      1749

      1133

      909

      1133

      Department of Atomic Energy

      8793

      13408

      10446

      15106

      Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH)

      554

      689

      346

      690

      Ministry of Chemicals and Fertilisers

      2006

      1002

      763

      959

      Department of Chemicals and Petrochemicals

      1158

      174

      323

      188

      Department of Fertilisers

      780

      622

      353

      561

      Department of Pharmaceuticals

      68

      207

      87

      210

      Ministry of Civil Aviation

      8117

      9474

      8300

      5361

      Ministry of Coal

      9125

      12561

      12005

      13137

      Ministry of Commerce and industry

      3047

      3126

      3235

      3690

      Department of Commerce

      1937

      1426

      1535

      1425

      Department of Industrial Policy and Promotion

      1110

      1700

      1700

      2265

      Ministry of Communications and Information Technology

      19498

      18156

      24988

      26820

      Department of Posts

      394

      800

      300

      469

      Department of Telecommunications

      16561

      13501

      21768

      22885

      Department of Electronics and Information Technology

      2543

      3856

      2920

      3466

      Ministry of Consumer Affairs, Food and Public Distribution

      1064

      710

      1000

      1001

      Department of Consumer Affairs

      180

      220

      140

      180

      Department of Food and Public Distribution

      884

      490

      861

      821

      Ministry of Corporate Affairs

      20

      24

      23

      24

      Ministry of Culture

      1378

      1835

      1500

      1455

      Ministry of Defence

      ...

      ...

      ...

      450

      Ministry of Development of North Eastern Region

      217

      536

      471

      537

      Ministry of Drinking Water and Sanitation

      11935

      231

      158

      231

      Ministry of Earth Sciences

      876

      1281

      925

      1179

      Ministry of Environment, Forests and Climate Change

      1809

      1171

      829

      995

      Ministry of External Affairs

      2750

      5100

      3900

      5336

      Ministry of Finance

      23072

      24035

      17998

      38274

      Department of Economic Affairs

      5402

      9931

      8344

      28465

      Department of Financial Services

      17667

      14100

      9650

      9805

      Department of Expenditure

      3

      4

      4

      4

      Ministry of Food Processing Industries

      527

      590

      475

      480

      Ministry of Health and Family Welfare

      24519

      7737

      6592

      7824

      Department of Health and Family Welfare

      22476

      6154

      5609

      6254

      Department of Health Research

      570

      726

      610

      713

      Department of AIDS Control

      1473

      857

      373

      857

      Ministry of Heavy Industries and Public Enterprises

      1200

      2598

      1607

      1574

      Department of Heavy Industry

      1194

      2589

      1602

      1565

      Department of Public Enterprises

      6

      9

      5

      9

      Ministry of Home Affairs

      6796

      8922

      4363

      7379

      Ministry of Housing and Urban Poverty Alleviation

      12781

      15285

      12289

      15794

      Ministry of Human Resource Development

      57610

      17672

      15254

      17672

      Department of School Education and Literacy

      43684

      2972

      2651

      2972

      Department of Higher Education

      13926

      14700

      12603

      14700

      Ministry of Information and Broadcasting

      715

      1205

      952

      1115

      Ministry of Labour and Employment

      1610

      806

      562

      758

      Ministry of Law and Justice

      936

      261

      142

      244

      Ministry of Micro, Small and Medium Enterprises

      2671

      3699

      2872

      3043

      Ministry of Mines

      1386

      2379

      1036

      2213

      Ministry of Minority Affairs

      3007

      2469

      2372

      2469

      Ministry of New and Renewable Energy

      1847

      3941

      3888

      3661

      Ministry of Overseas Indian Affairs

      ...

      20

      5

      20

      Ministry of Panchayati Raj

      467

      94

      80

      94

      Ministry of Personnel, Public Grievances and Pensions

      201

      279

      227

      260

      Ministry of Petroleum and Natural Gas

      109858

      80678

      74991

      76615

      Ministry of Planning

      1654

      2515

      1781

      2115

      Ministry of Power

      57949

      60384

      55488

      61404

      Ministry of Road Transport and Highways

      28664

      35238

      28114

      82697

      Ministry of Rural Development

      61111

      7502

      6192

      7490

      Department of Rural Development

      58623

      7440

      6185

      7440

      Department of Land Resources

      2488

      62

      8

      50

      Ministry of Science and Technology

      5100

      6725

      5495

      7289

      Department of Science and Technology

      2221

      3125

      2500

      3401

      Department of Scientific and Industrial Research

      1603

      2100

      1600

      2281

      Department of Biotechnology

      1276

      1500

      1395

      1607

      Ministry of Shipping

      4177

      4543

      2605

      4547

      Ministry of Skill Development and Entrepreneurship

      ...

      ...

      ...

      1500

      Ministry of Social Justice and Empowerment

      5418

      3295

      2219

      3295

      Department of Social Justice and Empowerment

      5418

      2734

      1844

      2735

      Department of Disability Affairs

      ...

      560

      375

      560

      Department of Space

      3998

      6000

      4500

      6000

      Ministry of Statistics and Programme Implementation

      498

      528

      309

      402

      Ministry of Steel

      14033

      15393

      13272

      13085

      Ministry of Textiles

      3131

      4326

      3069

      3523

      Ministry of Tourism

      815

      1507

      604

      1463

      Ministry of Tribal Affairs

      1674

      925

      609

      1038

      Ministry of Urban Development

      9135

      13404

      11437

      13196

      Ministry of Water Resources, River Development and Ganga Rejuvenation

      531

      3245

      2119

      1607

      Ministry of Women and Child Development

      17912

      989

      503

      989

      Ministry of Youth Affairs and Sports

      1012

      1396

      862

      1247

      Ministry of Railways

      52006

      63949

      64302

      98365

      GRAND TOTAL

      603573

      484532

      426811

      578382

      * Includes the provision for rural housing but excludes provision for rural roads.

      ** Includes the provision for rural roads.

      *** Excludes provision for rural housing.

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