SSC CGL/CHSL 2015:- GENERAL KNOWLEDGE

Highlights of the Union Budget 2015 -16

• Gross tax receipts – 14.49 lakh crore rupees
• Yoga included in the sphere of charitable purposes under the Income Tax ActHIGHLIGHTS OF UNION BUDGET 2015
• Plan expenditure- 4.65 trillion
• Non-plan expenditure – Rs 13.12 trillion
• Allocates Rs 331.5 billion – health sector
• Revenue deficit – 2.8 per cent of GDP
• Non tax revenue – Rs 2.21 trillion
• Fiscal deficit – 3.9 per cent of GDP in 2015/16
• For all purchases above 1 lakh rupees, PAN card will be needed
• National skill development mission to be started
• 1000 crore rupees to Nirbhaya fund
• Transport allowance increased to Rs 1600 pm
• Registrations of online excise & service tax in 2 working days
• GARR will be delayed by 2 years
• New law to tackle black money
• A new scheme named Nayi Manzil for minority youth will be started
• 62 percent will be will be transferred to the states
• Monetary Policy Committee will be framed
• One member of a family to have job by 2022
• Remaining electrification of 20000 villages by 2020
• Visa on Arrival facility for 200 countries
Sector-wise Highlights of Union Budget 2015

TAXATION

    No change in income tax slabs
    Wealth Tax has been eliminated
    Super rich having income of over Rs. 1 crore will be charged with additional 2% surcharge
    Over next four years, Rate of corporate tax to be reduced to 25%
    Total exemption up to Rs. 4,44,200 can be achieved
    100% exemption for contribution to Swachch Bharat, apart from CSR
    Service tax hiked to 14 per cent
    Custom duty on 22 items will be reduced

AGRICULTURE

•     Rs. 25,000 crore allocated to Rural Infrastructure Development Bank
•     Rs. 5,300 crore allocated to support Micro Irrigation Program
•     A target of 8.5 lakh crore has been set for farmers credit

INFRASTRUCTURE

•     Rs. 70,000 crores allocated to Infrastructure sector
•     Framing up of National investment infrastructure fund For projects in rail road and irrigation, Tax-free bonds to be issued
•     Government to bear majority risk in revitalizing Public-Private-Partnership(PPP) model for infrastructure development
•     Rs. 150 crore allocated for Research & Development
•     Atal Innovation Mission, for the establishment to draw on expertise of entrepreneurs, and researchers to encourage scientific innovations
•     5 ultra mega power projects, each of 4000 MW to be set up
•     Starting up of Second unit of Kudankulam nuclear power station

EDUCATION

•     Jammu and Kashmir, Punjab, Tamil Nadu, Himachal Pradesh, Bihar and Assam to have AIIMS
•     Setting up of New IIT in Karnataka
•     Indian Institute of Mines in Dhanbad to be reformed as IIT
•     Setting up of PG institute of Horticulture in Amritsar
•     Setting up of University of Disability Studies in Kerala
•     Center of film production, animation and gaming in Arunachal Pradesh
•     New IIM in Jammu and Kashmir and Andhra Pradesh

DEFENCE

•     Allocation of Rs. 2,46,726 crore to Defence, increased by 9.87%
•     Priority on Make in India Defence equipment

WELFARE SCHEMES

•     Construction of 50,000 toilets under Swachh Bharath Abhiyan
•     GST & JAM Trinity programmes to be introduced; By April 2016, GST will be implemented
•     Micro finance organizations will be refinanced by MUDRA bank; It will encourage first generation SC/ST entrepreneurs
•     80,000 secondary schools will be upgraded
•     Expansion of DBT from 1 crore to 10.3 crore
•     In Atal Pension Yojna, govt. will contribute 50% of the premium up to Rs. 1000 for one year
•     Scheme for physical aids and assisted living devices for old age people
•     Govt to use Rs. 9000 crore unclaimed funds in PPF/EPF for Senior Citizens Fund
•     Rs. 5,000 crore additional allocation for MGNREGA
•     Universal social security system for all Indians

RENEWABLE ENERGY

•     Rs. 75 crore allocated for electric cars production
•     100K MW in solar; 60K MW in wind; 10K MW in biomass and 5K MW in small hydro – under Renewable energy target for 2022

TOURISM

    Development schemes for churches and convents in old Goa
    New tourism scheme will cover Hampi, Elephanta caves, Forests of Rajasthan, Leh palace, Varanasi , Jallianwala Bagh, Qutb Shahi tombs at Hyderabad

GOLD

•     Sovereign Gold Bond, as an alternative to purchasing metal gold
•     Development of an Indian gold coin carrying the Ashok Chakra on its face which will reduce the demand for foreign coins and recycle the gold available in the country

SUBSIDIES

    Food subsidy at Rs 1.24 trillion
    Fertilizer subsidy at Rs 729.69 billion
    Fuel subsidy at Rs 300 billion