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.