Live: Union Budget 2015-16

India TV Business Desk

Published: Feb 28, 2015, 10:42 AM IST,Updated: Feb 28, 2015, 12:44 PM IST

Defence allocation for this fiscal is Rs 2,46,727 CroreNew Delhi: Presenting the Union Budget for the fiscal 2015-16, Finance Minister Arun Jaitley on Saturday said the state of the country's economy was better placed today

The excise duty on footwear having retail price of more than 1000 per pair has been reduced by 6 pc
Custom duty on raw materials and intermediaries to be reduced
The rich & wealthy must pay more tax. Abolish wealth tax & replace it an additional 2% surcharge on the super rich with above 1 crore Rs annual income: Jaitley
Reduced taxes on Technical Services to 10% from 25%
Applicability of GAAR deferred by 2 years
I propose to reduce rate of basic custom duty on certain imports to minimize impact of duty inversion: Jaitley
PAN number quoting made compulsory for transactions for more than Rs 1 lakh
Bill to check black money will give jail term of 10 years for those stashing non taxed money abroad
This will enable seamless integration of data and effective enforcement: Jaitley
Propose to enact a comprehensive new law on black money to bring back black money stashed abroad: Jaitley
For strengthening information collection from various sources, a new structure has been put in place: Jaitley
The problem of poverty & inequity cannot be eliminated unless generation of black money is dealt with effectively: Jaitley
Measures to curb black money, job creation through revival of growth&investment, benefit to middle class tax payers
Government proposes to incentivise debit-credit card transactions

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Union Budget Budget 2015 Arun Jaitley Narendra Modi