Finance Minister Arun Jaitley on Saturday presented the Union Budget 2015-16 worth Rs. 17.78 lakh crore, which aims to empower the common man, strives to bring back the black money and end the old times of scam and corruption. In his one-and-half-hour-long speech, Jaitley outlined a strenuous policy on black money that said that the black money holders will be imprisoned for 10 years with a penalty of 300 per cent.
The senior BJP leader said that the new taxation policy will allow an individual to have an exempt of Rs. 4,40,200 as proposed in two budgets since July last year. In a major relief for the corporate sector, the corporate tax was reduced from 30 per cent to 25 per cent in a phased manner in next four years.
The National Budget 2015-16 presented by the 62-year old lawyer-politician also saw several policies and reforms being announced on health insurance cover for the poor, gold monetisation scheme, Goods and Service Tax (GST), tax-free bonds to fund rail, and five new ultra mega power projects.
The netizens both on Facebook and Twitter gave a thumbs up to the budget as #SuperBudget and #SabkaBudget were the top trends. We take a look at the top 13 points of Union Budget 2015-16 presented by Arun Jaitley in Lok Sabha on February 28 below:
1. Financing Swachh Bharat
2. Towards a Skilled India
3. Ease Of Doing Business
4. Make In India
5. Benefits of Middle Class
6. Encouraging MSME Entrepreneurs
7. Monetising Gold
8. Strengthening Infrastructure
9. Moving from Jan Dhan to Jan Suraksha
10. Funding the Unfunded
11. Stimulus to Agriculture to Empower Farmers
12. Game Changing reforms on the anvil to drive growth
13. Indian economy to take off on a fast growth trajectory
Prime Minister Narendra Modi said the General Budget 2015 focuses on farmers, poor and neo-middle class, while it also aimed at long term goals in the areas of housing for all, jobs, health, education and electrification. On micro social networking site Twitter, Prime Minister Narendra Modi tweeted, “Union budget 2015 is a budget with a clear vision. It is a budget that is progressive, positive, practical, pragmatic and prudent.”