Corporate Blog

Strategy With Technology

  • Key Features of Union Budget 2015-2016
altIndian Government presented Union budget 2015-2016 on 28 Feb, 2015. Some of the key features of Union budget are given below. Only features related to business, startups, finance, investment are mentioned below.
 
1. General Anti Avoidance Rule (GAAR) will be deferred by two years.
 
2. To encourage budding entrepreneur’s rate of income tax on royalty and fees for technical services will be reduced from 25% to 10%. 
 
3. National Investment and Infrastructure Fund (NIIF), to be established with an annual flow of 20,000 crores to it. 
 
4. Concerns of IT industries for a more liberal system of raising global capital, incubation facilities in our Centres of Excellence, funding for seed capital and growth, and ease of Doing Business etc. would be addressed for creating hundreds of billion dollars in value.
 
5. Atal Innovation Mission (AIM) to be established in NITI to provide Innovation Promotion Platform involving academicians, and drawing upon national and international experiences to foster a culture of innovation , research and development. A sum of 150 crore will be earmarked.
 
6. Concerns of IT industries for a more liberal system of raising global capital, incubation facilities in our Centres of Excellence, funding for seed capital and growth, and ease of Doing Business etc. would be addressed for creating hundreds of billion dollars in value.
 
7. (SETU) Self-Employment and Talent Utilization to be established as Techno-financial, incubation and facilitation programme to support all aspects of start-up business. 1000 crore to be set aside as initial amount in NITI.
 
8. MUDRA Bank will be responsible for refinancing all Micro-finance Institutions which are in the business of lending to such small entities of business through a Pradhan Mantri Mudra Yojana. 
 
9. Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of 20,000 crores, and credit guarantee corpus of 3,000 crores to be created.
 
10. Distinction between different types of foreign investments, especially between foreign portfolio investments and foreign direct investments to be done away with.
 
Courtesy: http://indiabudget.nic.in/budget.asp