Union Budget 2015: Key highlights


l  No change in personal Income Tax
l  Replaces wealth tax with additional 2% surcharge on super rich
l  Removal of special additional duty on IT products
l  Total exemption of up to Rs. 4,44,200 can be achieved.
l  100% exemption for contribution to Swachch Bharat, apart from CSR.
l  Corporate tax of 30% is uncompetitive
l  Proposes to increase service tax rate and education cess to 14% from 12.36%
l  Fiscal deficit seen at 3.9 percent of GDP in 2015/16
l  GDP growth seen at between 8 percent and 8.5 percent y/y
l  AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam
l  IIT in Karnataka; Indian School of Mines in Dhanbad to be upgraded to IIT.
l  Kerala to have University of Disability Studies
l  PG institute of Horticulture in Amritsar.
l  Centre of film production, animation and gaming to come up in Arunachal Pradesh.
l  IIM for Jammu and Kashmir and Andhra Pradesh
l  Visa on Arrival for 150 countries.

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