Indian Budget Highlights 2016

Описание: The Union Budget of India, also referred to as the Annual financial statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India. It is presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Financial bill and the Appropriation bill has to be passed by the Houses before it can come into effect on April 1, the start of India's financial year.

An Interim Budget is not the same as a 'Vote on Account'. While a 'Vote on Account' deals only with the expenditure side of the government's budget, an Interim Budget is a complete set of accounts, including both expenditure and receipts. An Interim Budget gives the complete financial statement, very similar to a full Budget.While the law does not debar the Union government from introducing tax changes, normally during an election year, successive governments have avoided making any major changes in income tax laws during an Interim Budget.
2016 Union budget of India is the annual financial statement of India for the fiscal year 2016 - 2017. It is scheduled to be presented before the parliament on 29 February 2016. The budget will be presented by the Finance Minister of India, Arun Jaitley.[1] The printing of the budget documents began with a traditional Halwa ceremony on 19 February 2016. For Budget 2016-17, the government invited suggestions from citizens through Twitter for the first time, even conducting a series of polls to gauge public priorities and expectations from the Budget.
₹10.6 billion (US$160 million) revenue loss through direct tax proposals, and ₹206.7 billion (US$3.0 billion) revenue gain through indirect tax proposals. Revenue gain of ₹196 billion (US$2.9 billion) in Union Budget 2016 proposals.₹9 billion (US$130 million) for buffer stock of pulses.

Sources: https://en.wikipedia.org/wiki/Union_b...
https://en.wikipedia.org/wiki/2016_Un...