FINANCE MINISTER MR. ARUN JAITLEY RISE TO PRESENT THE
BUDGET FOR F.Y.2015-16.
MARKET UP 242 POINTS AT 29462, NIFTY UP 67 POINTS AT 8911
THE INITIAL
GIBBERISH, FOR SOME WHO MAY BE INTERESTED AND FOR THE ECONOMICALLY INCLINED:
J
1.
PEOPLE OF INDIA HAVE VOTED FOR GROWTH AND
TRANSPERANCY
2.
WE HAVE EMBRACED STATES AS EQUAL PARTNERSWE ARE
A ROUND THE CLOCK, ROUND THE YEAR GOVERNMENT
3.
UNDERTAKEN STEPS TO ENERGISE ECONOMY
4.
WORLD IS PREDICTING IT IS INDIA’S CHANCE TO FLY
5.
MUST ENCOURAGE GROWTH OF ENTREPREUNERSHIP
6.
WE NEED TO SEE MASSIVBE INVESTMENTS GOING INTO
INFRASTRUCTURE, R&D
7.
EVERY RUPPE OF PUBLIC EXPENDITURE WILL
CONTRIBUTE TO ECONOMY
8.
THE LATEST CPI INFLATION IS 5.1% AND WHOLESALE
SALE PRICE INFLATION IS NEGATIVE
9.
GOVERNMENT’S OBJECTIVE IS TO KEEP INFLATION
BELOW 6%
10.
INVESTORS ARE SEEING US WITH RENEWED HOPE
11.
CAD (CURRENT ACCOUNT DEFICIT) FOR THIS YEAR IS
EXPECTED TO BE 1.3% OF THE GDP (GROSS DOMESTIC PRODUCT)
12.
GDP EXPECTED TO ACCELERATE TO 7.4%
13.
AIMING FOR DOUBLE DIGIT RATES SEEMS FEASIBLE
SOON
14.
FM LISTS OUT ACHIEVEMENTS THROUGH COAL AUCTIONS J
15.
RUPEE HAS GAINED BY 6.4%
16.
JANADHAN, AADHAR, MOBILE AND GST ARE GAME
CHANGING REFORMS
17.
FOREIGN EXCHANGE RESERVES AT RECORD 340 BILLION
DOLLARS
18.
80000
secondary schools to get upgrade
19.
ALL THE SCHEMES HAVE TO CATER AROUND THE POOR
20.
Will meet
4.1% fiscal deficit target
21.
ELECTRIFICATION OF ALL VILLAGES BY 2020
22.
WILL ENSURE EMPLOYMENT TO OUR YOUTH
23.
AIM TO MAKE INDIA A MANUFACTURING HUB
24.
A ROOF FOR EACH FAMILY IN INDIA BY 2022
25.
KEY CHALLENGE IS AGRICULTURAL INCOME IS FALLING.
FOCUS TO BE ON PER DROP, MORE CROP
26.
GOVT FIRM IN MEETING 3% FISCAL TARGET IN MEDIUM
TERM
27.
MNREGA SCHEME IS TO STAY. WIL BE FINANCED BY
ALLOCATION OF 5000 CRORES
28.
TOTAL TRANSFER OF STATES WILL BE 62% OF THE
CENTRE’S RECEIPTS
29.
DISINVESTMENT NEEDS TO BE SCALED UP
30.
COMMITTED TO THE PROCESS OF RATIONALISATION
31.
RURAL INFRASTRUCTURE DEVELOPMENT FUND TO BE
CREATED WITH CORPUS OF INR 25000 CRORES
32.
FISCAL TARGET OF 3% BY F.Y.18
33.
LPG DIRECT TRANSFER SUBSIDY TO BE EXPIDATED
34.
TIME IS NOT FOR INCREMENTAL CHANGES BUT BIG BANG
35.
TRANSFER FO 8.5 LAKH CRORE CREDIT FOR THE
AGRICULTURAL SECTOR TARGETTED
36.
UNIVERSAL SOCIAL SECURITY SYSTEM FOR ALL INDIANS
37.
FOCUS ON BANKING THE UNBANKED, FUNDING THE
UNFUNDED
38.
NEW BANKRUPTCY CODE TO BE BROUGHT IN
39.
TO UTILISE VAST POSTAL NETWORK FOR BANKING
VENTURES
40.
NATIONAL AGRI MARKET TO INCREASE THE INCOME OF
THE FARMERS
41.
NEW PENSION SCHEME FOR THE POOR, AIMED AT PEOPLE
OVER 60 YEARS OF AGE
42.
TO CREATE SENIOR CITIZENS WELFARE FUND VIA
UNCLAIMED PPFS
43.
INFRASTRUCTURE TO MATCH GROWTH AMBITIONS
44.
70000 CRORES BOOST TO INFRASTRUCTURE
45.
1000
crores boost for self employment schemes
46.
PUBLIC SECTOR PORTS TO BE MADE COMPANIES UNDER
THE COMPANIES ACT
47.
EACH POWER PROJECTS TO BE OF 4000 MWs
48.
POWER PROJECTS TO UNLOCK INVESTMENTS WORTH 1
LAKH CRORES
49.
5000 CRORES FOR NATIONAL INFRASTRUCTRE
50.
TO SET UP PUBLIC DEBT MANAGEMENT AUTHORITY
51.
VISION IN PLACE FOR DIRECT TAX REGIME
52.
TO AMEND SECTION 6 OF FEMA
53.
PROMISES TAX FREE INFRASTRUCTURE BONDS
54.
Indian
gold coin to RECYCLE LOCAL GOLD. NEW GOLD MONETISATION SCHEME
55.
SOVEREIGN GOLD BOND SCHEME ANNOUNCED. THIS SCHEME
WILL CUT OVERSEAS GOLD DEMAND
56.
ALLOW FOREIGN INVESTMENT IN ALTERNATE INVESTMENT
FUNDS
57.
ANOTHER 1000 CRORES FOR NIRBHAYA FUND
58.
To
promote cashless TRANSACTIONS TO CURB BLACK MONEY
59.
PLAN TO INCENTIVISE DEBIT CARD AND CREDIT CARD
TRANSACTIONS
60.
BOOST FOR GLOBAL HERITAGE SITES AT GOA, GUJARAT,
J&K AND MUMBAI
61.
TO BOOST VISA ON ARRIVAL PLANS TO 150 NATIONS
FROMT EH PRESENT 43
62.
FPI AND FDI WON’T BE DIFFERENTIATED
63.
PUBLIC CONTRACT RESOLUTION OF DISPUTES BILL TO
BE BROUGHT IN
64.
NEW REGULATORY REFORMS LAW FOR INFRASTRUCTURE
65.
RENEWABLE ENERGY TARGET TO BE RAISED TO 1.75
LAKH MGW
66.
PROPOSED 75 CRORES OUTLAY FOR ELECTRIC VEHICLES
MANUFACTURING
67.
EDUCATION LOAN SCHEMES FOR HIGHER EDUCATION
68.
A FULL IT BASED STUDENT FINANCIAL BODY TO BE SET
UP
69.
AIIMS AT PUNJAB, J&K, HP, ASSAM AND TN
70.
IIT INKARNATAKA, UPGRADING DHANBAD COLLEGE TO
IIT
71.
APPRENTICE TRANING INSTITUTE FOR WOMEN IN
UTTARAKHAND
72.
IIM IN J&K AND ANDHRA PRADESH
73.
PSU BANKS BOARD BUREAU TO BE SET UP THIS YEAR
ITSELF
74.
FILM CENTRE AND A GAMING INSTITUTE IN ARUNACHAL
75.
FM PROMISES SPECIAL ASSISTANCE TO BIHAR AND WEST
BENGAL
76.
68960 CRORES FOR EDUCATION AND MID DAY MEALS
77.
10351 CRORES FOR WOMEN AND CHILD DEVELOPMENT
78.
22407 CRORES FOR HOUSING DEVELOPMENT
79.
4173 CRORES FOR WATER RESOURCES
80.
246727 CRORES FOR DEFENCE
81.
1200 CRORES FOR FAST TRACK CORRIDOR BETWEEN
AHMEDABAD AND MUMBAI
82.
331500 CRORES BOOST FOR THE HEALTH SECTOR.
ALLOCATION MORE THAN THAT FOR DEFENCE
83.
NON PLAN EXPENTIUTE EXPECTED AT 13.12 LAKH
CRORES
84.
PLANNED EXPENDITURE EXPECTED AT 4.56 LAKH CRORES
85.
GROSS TAX RECEIPTS ESTIMATED AT 14.50 LAKH
CRORES
86.
FISCAL DEFICIT SEEN AT 3.9% REVENUE DEFICIT AT
2.8%
87.
AMINING AT NON ADVERSARIAL TAX ADMINISTRATION
88.
2016 HAS BEEN SET AS DEADLINE FOR GST. TO
IMPLEMENT IT FROM NEXT YEAR
89.
NON TAX REVENUE RECEIPTS AT 2.2 LAKH CRORES
90.
NEW STRINGENT LAW FOR BLACK MONEY SLASHED
ABROAD. 10 YEARS PUNISHEMENT FOR BLACK MONEY HOLDERS
91.
FEMA TO BE AMENDED TO ACCOMMODATE BALCK MONEY
92.
TO CURB BENAMI TRANSACTIONS IN PROPERTY DEALS
93.
IMPLEMENTATION OF GAAR (GENERAL ANTI AVOIDANCE
RULES) DEFERED BY TWO YEARS. TO BE PROSPECTIVELY APPLIED FROM APRIL 2014
94.
RICH AND WEALTHY MUST PAY MORE TAXES
PROPOSED
AMENDMENTS IN THE DIRECT TAXES: THIS IS WHAT ALL WERE WAITING FOR
J
1.
CORPORATE TAX RATE CUT TO 25% FROM 30% OVER FOUR
YEARS. MAJOR RELIEF FOR CORPORATE SECTOR
2.
CORPORATE TAX CUT TO START FROM NEXT YEAR
3.
CUT IN TAX TO BE ACCOMPANIED BY CUT IN
EXEMPTIONS
4.
WORKING ON PHASED ELIMINATIONS OF EXEMPTIONS
FROM NEXT FINANCIAL YEAR
5.
PROSECUTION PROCEEDINGS MADE MORE STRINGENT.
CONCEALMENT OF INCOME, ASSETS TO GET 10 YEAR IMPRISONMENT
6.
PENALTY FOR CONCEALMENT AT 300% OF THE
INCOME/ASSET VALUE
7.
TAX PASS THROUGHS TO BE ALLOWED IN CATEGORIES 1
& 2
8.
RENTAL INCOME FROM REITs TO HAVE PASS THROUGH
STATUS
9.
QUOTING PAN MANDATORY FOR ALL PURCHASES ABOVE
RS.1 LAKH
10.
TO CUT INCOME TAX ON REOYALTY SERVICE ON
TECHNICAL FEES TO 10%
11.
TO ABOLISH WEALTH TAX COMPLETELY
12.
ADDITIONAL 2% SURCHARGE ON INCOME OVER RS.1
CRORE
13.
GOVT TO GET ADDITIONAL 9000 CRORES VIA THIS
SURCHARGE
14.
TO RATIONALISE MAT RPOVISIONS FOR FIIs
15.
100% TAX DEDUCTION ON CONTRIBUTIONB TO CLEAN
GANGA
16.
HEALTH INSURANCE EXEMPTION UPPED FOR SENIOR
CITIZENS TO RS.30000
17.
HEALTH INSURANCE LIMIT INCREASED TO RS.25000
FROM RS.15000
18.
ADDITONAL DEDUCTION OF RS.50000 FOR INVESTMENT
IN NATIONAL PENSION SCHEME
19.
ADDITIONAL DEDUCTION OF RS.50000 FOR SOCIAL
SAFETY NET PAYMENTS
20.
TRANSPORT ALLOWANCE DOUBLED TO RS.1600 PER MONTH
21.
INDIVIDUAL TAX PAYER GETS BENEFIT UPTO RS.4,44,200
PER YEAR
22.
YOGA TO COME UNDER CHARITABLE ORGANISATIONS
PROPOSED
AMENDMENTS IN THE INDIREDCT TAXES: READ IT AT YOUR PERIL, IF IT IS OF ANY
INTEREST
J
1.
CUT IN CUSTOMS DUTY ON 22 ITEMS
2.
REVISION OF EXCISE DUTY ON SOME ITEMS
3.
EXSCISE DUTY ON LEATHER SHOES UPPER TO BE CUT TO
6%
4.
CHANGES IN EXCISE DUTY ON TOBACCO PRODUCTS, AS
EXPECTED
5.
SERVICE TAX RATE INCRESASED TO 14% FROM12%

 

6.
NEGATIVE LIST UNDER SERVICE TAX TO BE PRUNED
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Apnon ne Apne Dum pe Jeena Sikhayaa
A honest and true account of how
my family members have guided and encouraged me to grow into a better, more self-reliant
person., a blog from the true and honest me.
As the father and the husband of
the household and thereby being the senior most member of the family, it was
quite natural that I was assumed and presumed to be the only candidate eligible
to done the role of the mentor, the trouble shooter, the caretaker for all
other family members. I took of my responsibility in full zeal too, taking care
and embracing my close knit family consisting of my beautiful wife and three
wonderful daughters, my princesses under the cover of the umbrella that my
spread out wings covered, not only with respect to the love and affection that
they needed from me but also the financial support and risk cover to take care
of their needs in case of any unforeseen eventuality of I not being there to
watch over them.
They say, children learn from
their parents, and that may be true to a certain extent, but my practical
experience has made me a firm believer of the maxim that we are constant
learners, we learn from what we see, we learn from our and others’ experiences,
we learn from our mistakes and we learn from our deeds. And in this process of
learning, our teachers, our mentors can be anyone. In my case, it happened to
be my own daughters.
Born and brought up in a very
conservative household, from the southern hemisphere of our country, where risk
taking was considered taboo and securing a job with the Government was the way
to eternal bliss, it was initially a bit difficult for me to shed my inhibitions
and leave the comforts of my secure job and take a plunge into the world of entrepreneurship,
which I did a few years back.
A father with the ultimate
responsibility of seeing three daughters getting married off, how could I even
think of such a stupid idea? These recorded messages by my so called
well-wishers kept playing back in my mind and into my ears. A totally confused
me was at the mercy of breakdown, when my eldest daughter, my angel came as the
mentor to me. It was she who stirred and woke the confidence in me. She
insisted that her Dad was not destined to work under someone for the rest of
his life. She realised the flame in my eyes, my quest to become an entrepreneur
and cajoled me into taking the dive.
Today, as I look back on the
crossroads of my life and career, I have no regrets for having taken the
diversion, the less tread path, when I felt like doing it. My daughter has
been the one who believed in what her Dad was capable of and ensured against
all odds that I achieved it. Years after that fateful decision, today, even she
is following my footsteps on the same profession and ready to take over my
enterprise from where and when I shall be willing to hand over the baton into
her worthy hands.
For me, it was my eldest daughter
with the able support of my ever understanding wife and the loving care of my
other two daughters too, who let me live my life the way I dreamed, so that I
can hold my head high and exclaim, Apnon ne Mujhe Apne Dum par Jeena Sikhaaya.
I could do all this without fear was because I knew always that in any
eventuality, my family will be looked after by HDFC Standard Life Insurance
Company Limited, where I have invested prudently in their various life
insurance policies will ensure that my family will also live their life Apne
Dum Pe.

 

For more details of the amazing insurance
plans specially designed by HDFC Standard Life Insurance Company Limited to
make us live our life our way, apne dum pe, please visit http://www.hdfclife.com/.

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Father’s Lost Diary
Tiara had always been a great fan
of Suhas Kumar. And why wouldn’t she be? He was the heartthrob of millions of
female fans across the country. Girls would die just to have a glimpse of him,
and Tiara was no exception. And her father, George made sure that she did not
miss out on any of her Idol’s new releases. Any movie featuring him, and George
would ensure that the tickets for the first show were arranged for Tiara.
George never realized when Tiara
grew up to be a teenager and became completely in awe of Suhas Kumar. She
wouldn’t eat for days if she read that Suhas had a new affair. She would feel
excited that Suhas had broken up with his girlfriend as if she now had a
chance. George would often tell his daughter that Suhas was of his age and is
of no match for his pretty daughter and she used to get very angry with him
saying that he is jealous of the film star.
George started greying and
balding in complete contrast to increasing popularity of Suhas Kumar. Tiara
started feeling ashamed of accompanying her father anywhere. And then one day,
George fell sick and had to be hospitalized. Doctors diagnosed that the
pressure of taking care of a family had taken a toll on his health and his
condition was fast deteriorating.
Tiara was alone at home one day,
and while cleaning up the house, and happened to chance upon an old red diary
hidden beneath a heap of books, George’s collection, being an avid reader. She
opened the diary to realize that it was her fathers’. She opened the first
page. It was dated 18 years back, the day of her birth. George had written that
it was the happiest day of his life. He would sacrifice anything in life for
the little angel who has been bestowed to him.
With trembling hands, Tiara
started turning the pages. She started reading about George’s various hobbies
and interests and how he sacrificed all of them just because he wanted to just
concentrate of bringing up his daughter in the best possible way and how he
felt so happy about it.
And then on one page in the middle,
was an old worn out photograph of a very young and dashing man. The photograph
was of someone who was much more debonair and good-looking than Suhas Kumar,
her Idol. She took the photograph in her hand and stared at it for a while
trying to imagine which actor of yesteryear’s he could be. Then she started
reading the next pages of the diary. Her throat choked as she read how George
was being approached by many movie producers to act in their movies and how he
turned down all the offers very firmly just because he thought that the movie
industry was very ruthless and valueless and he didn’t want his darling, his
daughter also to be drawn into it. She tried to see the dates of these accounts
in the diary and realized that she was all of 3 years at that time.

Tiara was speechless. It was not
difficult for her to realize that the photograph she had in her hand was of her
bald and frail father. She could not gather the courage to read any further.
She closed the diary and imagined her father’s face as she had seen all these
years.
As Tiara entered the hospital
room, her father was sleeping peacefully. She stared at her father’s face but
she was unable to recognize him anymore. She was unable to see the forming
wrinkles on his face. She was unable to see his balding head. She could just
see the young and dashing face of George that she had seen in the photograph
that morning.

Tiara went and kissed her father’s cheeks and laid
her head on his chest and cried her heart out. Her cry woke up George and he
lifted her face and held it next to his. Tiara could not feel the wrinkles or
the roughness in his face, but could feel the softness of all the efforts in
bringing her up all these years. She cupped her father’s face with both hands, kissed
his forehead again and said to herself that she got her Idol, her real Hero…her
Dad!

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