Indian Budget 2015 – 16

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Budget 2015 Highlights

Today (28th February, 2015) Finance Minister Arun Jaitley presented Union Budget, the highlights are:

Taxation:
● Abolition of Wealth Tax.
● Additional 2% surcharge for the super rich with income of over Rs. 1 crore.
● Rate of corporate tax to be reduced to 25% over next four years.
●Total exemption of up to Rs. 4,44,200 can be achieved.
●100% exemption for contribution to Swachch Bharat, apart from CSR.
●Service tax increased to 14 per cent.

Agriculture:
● Rs. 25,000 crore for Rural Infrastructure Development Bank.
● Rs. 5,300 crore to support Micro Irrigation Programme.
● Farmers credit – target of 8.5 lakh crore.

Infrastructure:
● Rs. 70,000 crores to Infrastructure sector.
● Tax-free bonds for projects in rail road and irrigation
● PPP model for infrastructure development to be revitalised & govt. to bear majority of the risk.
● Rs. 150 crore allocated for Research & Development
● NITI to be established and involvement of entrepreneurs, researchers to foster scientific innovations.
● Govt. proposes to set up 5 ultra mega power projects, each of 4000MW.

Education:
● AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam.
● IIT in Karnataka; Indian School of Mines in Dhanbad to be upgraded to IIT.
● PG institute of Horticulture in Armtisar.
● Kerala to have University of Disability Studies
● Centre of film production, animation and gaming to come up in Arunachal Pradesh.
● IIM for Jammu and Kashmir and Andhra Pradesh.

Defence:
● Rs. 2,46,726 crore for Defence.
● Focus on Make in India for quick manufacturing of Defence equipment.

Welfare Schemes:
● 50,000 toilets constructed under Swachh Bharath Abhiyan.
● Two other programmes to be introduced- GST & JAM Trinity.
● GST will be implemented by April 2016.
● MUDRA bank will refinance micro finance orgs. to encourage first generation SC/ST entrepreneurs.
● Housing for all by 2020.
● Upgradation 80,000 secondary schools.
● DBT will be further be expanded from 1 crore to 10.3 crore.
● For the Atal Pension Yojna, govt. will contribute 50% of the premium limited to Rs. 1000 a year.
● New scheme for physical aids and assisted living devices for people aged over 80 .
● Govt to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund.
● Rs. 5,000 crore additional allocation for MGNREGA.
● Govt. to create universal social security system for all Indians.

Renewable Energy:
● Rs. 75 crore for electric cars production.
● Renewable energy target for 2022: 100K MW in solar; 60K MW
in wind; 10K MW in biomass and 5K MW in small hydro

Tourism:
● Development schemes for churches and convents in old Goa; Hampi, Elephanta caves, forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad to be under the new tourism scheme.
● Visa on Arrival for 150 countries

Two Wheeler the Curse to Indian Drivers

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Always the most worst people (than me) are in the Indian Roads who drive their two wheeler. OMG! If you are driving a four wheeler or a bus in GST (Grand Southern Road), South India, India you will be completely pissed off and will avoid driving in the roads.

Such terrible and dangerous guys, they are always. They quote that they pay the taxes to the Government and so, they will go only in the middle of the road. Yesterday around 2 AM, crossing Melmaruvathur there was a two wheeler with his family. The two wheeler was not even having a tail light, it was carrying a woman and a small child. Unfortunately the dresses they were wearing is also dark red and not visible in the massacring night. Flying with my beast at around 130 kmph since the road was empty from a distance ahead. Almost with around 40 meters ahead I noticed them travelling in the middle of the road and it had been a ridiculous moment to make it up steady.

Refreshed myself in few minutes after making a small stopping and started, the couple had an opportunity to cross me in the toll gate as it was full of rush. He knocked my windows and asked if I am drunk. I scolded that guy asking him not to travel in the middle of the road. He again advised me to travel cautiously as his mother-in-law has paid the road-tax and he will travel in middle of the road. I replied naughtily that my road taxes are being paid by mom.

And I forgot to say that he failed to wear Helmet even. I reached home in usual time and I got the news that a family met with accident at around some 3 AM in Tindivanam Bye-Pass road and it has created a big traffic. Pathetic on this move. OMG! RIP :-) Now again I hope their mother-in-law needs to take care of the funeral expenditure.

Chennai City Traffic Cop won me by Getting INR 10 as bribe

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On last Saturday, I was quite busy with some official work at Chennai and suddenly got the email from ICICI Bank offering me some coupon to watch movie in Chennai. So immediately went online and booked a movie at Phoenix Market City. Since I was at Madhya Kailash, took a left crossing Raj Bhavan to reach Phoenix mall.

While coming around Velacherry bye pass road, I was bit confused and tried to peep out of the car to see if there is any NO U TURN sign. To my view there was nothing such. Addingly I saw many two wheelers and T – Board vehicles are making a U turn. So with the guts, I made a U Turn as usual. In approx 150 meters, there was a SI and PC who blocked my car. That SI came near to me and asked for Driving License and Insurance Papers. He got them and went away. After few minutes he came near to me and demanded Rs. 300. I asked why, he said it is a NO U TURN and was showing me a board which was around 200 meters from the signal. I refused saying that he was key instrumental in making to escape numerous Chennai number-plate based vehicles.

I asked him to give challan so that I can ask my office staffs to pay him tomorrow. He refused saying that the Asst. Commissioner wants minimum 60 cases to be filed everyday and I am one among that. Later after negotiation, he came for INR 100 as a minimum fine. Now, am outburst of my patience. I refused to pay that saying I don’t have money in my wallet. I said I will pay it atleast after going to the ATM. He asked me to leave the car and asked me to walk, I said NO. It was his fault for having a machine which was not compatible for Credit Card / Debit Card transactions.

I justified him by showing my wallet, he saw a torn and damaged INR 10 in my wallet and others were foreign currencies. He asked me to atleast give that INR 10 and the balance INR 90 will be paid by him. With a good-will and the moment how he begged me got that INR 10 for him.

Finally he cursed me that my car will get punctured in the main road, I will die-off in the accident and so on. In this world even a pure virgin women’s curse is not getting executed, how this innocent police man’s curse is going to be executed? I reached safely home without even a small disturbance.

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