Union Budget 2015: Focus on Farmers, Poor, Education, Infrastructure and Development

AGRICULTURE

1. Rs. 25 crore for Rural Infrastructure Development Bank
2. Rs. 300 crore to support Micro Irrigation Programme

EDUCATION

1. AIIMS in Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam
2. IIT in Karnataka, Indian Institute of Mines and Dhanbad to be upgraded
3. PG institute of Horticulture in Armtisar
4. Kerala to have University of Disability Studies
5. Pharma centres in Maharashtra, Rajasthan, Chhattisgarh

INFRASTRUCTURE

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

TAXATION

1. Rate of corporate tax reduced to 25% over next four years
2. Wealth tax to be abolished
3. Additional 2% surcharge for the super rich with income of over Rs. 1 crore
4. 100% exemption for contribution to Swachch Bharat, apart from CSR

DEFENCE

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

WELFARE SCHEME

1. 50,000 toilets constructed under Swachh Bharath Abhiyan
2. Housing for all by 2020
3. Upgradation 80,000 secondary schools
4. For the Atal Pension Yojna, govt. will contribute 50% of the premium limited to Rs. 1000 a year
5. New scheme for physical aids and assisted living devices for people aged over 80
6. Govt to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund
7. Rs. 5,000 crore additional allocation for MGNREGA
8. MUDRA bank will refinance micro finance orgs. to encourage first generation SC/ST entrepreneurs
9. Govt to create universal social security system for all Indians

RENEWABLE ENERGY

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

TOURISM

1. 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
2. Visa on Arrival for 150 countries

Source: The Hindu