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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Axis Mobile – Carry the Bank in your pocket
“Carry the Bank in your pocket” –
yeah! That’s the tag line and this mobile banking application launched by Axis
Bank promises just that.

 

How many times have we not
shuddered at the thought of having required to make that tedious journey to our
bank branches’, negotiating the traffic snarls on the way, and then again end
up queuing up at the counters to transact business. And consider the irritation,
when we know that we are doing all this to handle our own money, which is lying
at the mercy of the bankers.
Came the era of internet banking
and all these started becoming obsolete. What we could do only by a visit to
the Bank could now be done sitting at the comforts of our homes and offices. But
then, we needed to be at home or office to do all these. What about people like
me, always on the move? People who live out of their suitcases! They probably
have to take a day off or depend on the mercy of others to help them out with
their banking routines.
This problem was addressed with the
advent of the mobile banking. It was banking on the tiny rectangular piece of
engineering marvel that we hold in our palms and carry around with us
everywhere, the thing that we call our smart-phone. Yeah! You heard it right.
The banking transactions slowly got shifted to the mobile platform. But virtual
banking, you can say, was mired with controversies, instances and news of
security being breached, phishing, and our hard earned money just vanishing
into thin air. People somehow could not trust the invention too sincerely.
As Banks were losing out
customers on this significant sector, someone needed to take the lead to herald
the era of secure banking on the mobile. Who else could lead the way in this
than Axis Bank which had always excelled in providing financial solutions to
the customers with smart use of technology, a bank which ensures fair practices
and complete transparency in it transactions?
The Axis Bank Mobile application was
born which would go ahead and revolutionize the way, banking is transacted.
With this simple, user-friendly, convenient and secure mobile banking application,
banking became just a touch away, whichever may be the platform, whether
Android, i-Phone or Windows. You just need any one of the following OS
(operating system) on your smart phone and you are ready to do banking on the
go:
a)      Android
b)      iOS
c)       Windows
d)      Mobile
Web (from Mobile browsers)This mobile application can be
used by all the customers of Axis Bank. In short, you need not be an account
holder holding a savings or current account to be able to operate this application.
You hold a credit card of the bank, or just have a loan, housing or vehicle or
otherwise, from the bank, you can transact your business through this application.
Furthermore, you need not be residing in India to operate this, as it is
available for customers across the globe, whether residents or non-residents.

So it is for:
a)      Saving
account holders
b)      Current
account holders
c)       Credit
card holders
d)      Loan
account customers
e)      A
combination of one or more of the above.
I am just amazed by the features
of this mobile banking application. I can just go on and on, if I am asked to
speak on this, but when I write, I need to unfortunately restrict myself. Oh
poor readers, wish I could come personally and explain to you. But just a few
of them here, and you would be in awe of it:
1.       So
many multiple statements, so many call centres to call up, I used to be really
fed up. Now I can view my account statements, my deposits summary, my credit
card summary as also the entire details of my various loan accounts under one
umbrella.
2.       Always
a fan of plastic money, I don’t think twice before flaunting my credit card on
shopping sprees, but on happy realizations after coming back home, I always
used to wonder, and how much would be my damages in the next billing cycle. Now
I don’t have to worry about the payment due dates. I can view my unbilled
transactions and pay off as and when I have the resources to do it.
3.       I
don’t now have to worry about missing the deadline in paying the utility bills
and them standing at my doorstep threatening to discontinue the services. I can
view and schedule bill payments on the go, so that it automatically gets
debited from my account on the due date or on the date that I wish.
4.       As
I am getting addicted to their mobile banking features, the bank is continuously
adding more and more awe-inspiring features. The latest on the list is the
facility to convert my transactions into EMI, block and replace my credit card
instantly before even the thief attempts a transaction.  I feel like going on a big shopping expedition
and I can check my eligibility for credit limit increase and apply for the same
so that on the date of my splurging, I am not embarrassed.
I am tired going on and on, but
the list is never ending. One would say, these features are almost there in
other banks’ applications too. So what’s new? Of course there is; some of them
being absolutely unique to Axis Bank mobile banking alone. Do you want to hear
it out? Then here I go.
1.       I
feel the need and necessity to transfer funds urgently to somebody, whether an
Axis bank account holder or not. I can do that now by just adding beneficiaries
and transferring funds on real time, absolutely instantly.
2.       I
now have the authority to fix up my own transaction limits. It is up to be me
to decide whether I want it at only Rs.50,000/- or I can be magnanimous to my
wife and family, and put it at a whooping Rs.10 lakhs.
3.       Absolutely
unique is the Axis Bank reward points, wherein you can accumulate reward points
for anything. So you now need not spend money on purchases if you are not a
shopaholic, you just keep your funds in your account and you get reward points
even for the balances in your account.
Being a finance
guy, I am very particular about the safety features. I would never attempt
anything unless I am sure of it. And so with the Axis Bank mobile banking
application, I can be absolutely sure and secure. The amazing feature that
takes care of this aspect is the SIM locking, which allows anyone to onboard
the application only with the Bank registered mobile number (RMN). And at every
stage you need not just your mobile phone with you; you need your MPIN which is
known only to you, as secret as what you know about your neighbor’s wife J
Security
features are plenty, but to name a few:
1.       I
can add beneficiaries using the 2FA security, which means that I need not use
the internet banking for making fund transfers, thereby compromising on security.
2.       I
can switch off and on my debit cards at my whims and fancies. I feel that my
card has been misplaced, just switch it off in a jiffy; find it and switch it
on again.
3.       Your
mobile phone gets stolen, which is quite common these days, still no one can
access the application without the MPIN. But still, you want to be doubly sure,
just get the app account terminated in the phone.
4.       Feel
that grown up kids using your phone can splurge on online purchases, using the
app, just moodily the daily transaction limit for the app as per your needs and
surprise the kids.
5.       The
online requests for blocking and replacing the credit cards are so instant and
hassle free that I need not worry a bit on misplacing it.
6.       Amazingly,
Axis Bank has thought much beyond we could. You need time to get assimilated to
the features, and hence using third party help. The Bank understands this and
the daily transactions limit is restricted to only Rs.30,000/- for the first 5
days after registration.
All these are
what I would want from my mobile banking application. For those guys who are
still hard to please, here are some pleasing features too.
1.       Just
check out and find offers near you whenever you want.
2.       Give
a personalized touch to transactions by adding photos for your accounts and
beneficiaries.
3.       Feel
like short of funds, but still need to go for that online sale, you can view
and redeem edge loyalty points at any time.
4.       Social
worms can have their social media seamlessly integrated into the application.
5.       Got
tempted to buy that expensive diamond necklace for your wife but now wondering
how to pay it off on the due date? Smile and convert your credit card transactions
into EMI with one simple click.
6.       A
snob, you get irritated logging in and typing info every single time, you can
set your most frequent transactions as favorites for one click payments.
7.       Last
but not the least, our priorities change and the Bank adapts to it. We just
recorder the menu as per our choice.
Isn’t that enough? We would say,
Yes! But these techno-freaks at the Bank don’t seem to think so. We are in for
surprise regularly with new features being added every 45 days, since it was
launched in August 2013. Just the beginning of this month of Feb 2nd
was the last update and be prepared to get some more pleasant surprises in the
next update due on 15th March.
So, just get, set go and carry
the bank in your pocket with a smile. Axis Bank is there to travel with you
everywhere. Start banking a new way, your way!

 

 

This post is about ‘Make the Axis Acquaintance‘ meet conducted
by Axis Bank in association with BlogAdda.com 
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