IDBI PGDBF Manipal Recruitment : Notification Out

IDBI has published notification for the Recruitment of Assistant Manager Grade ‘A’. It has released the notification but the online application will start on 24th June 2015. So all those aspiring to excel in Banking sector has a great opportunity to go for IDBI.

To view the Official Notification : Click Here

RBI Orders To give LOANs To - PRIORITY SECTOR LENDING

Highlights of PSL

It means provide credit to the needy sectors of the society. The sectors are:

• Agriculture

• Micro and Small Enterprises

• Education

• Housing

• Export

• Weaker Sections

• Social Infrastructure

• Renewable Energy

Targets under PSL

• Agriculture: 18 percent of ANBC. Out of this 18 percent, a target of 8 percent of ANBC is for Small and Marginal Farmers, to be achieved in a phased manner i.e., 7 per cent by March 2016 and 8 per cent by March 2017.

• Weaker Sections: 10 percent of ANBC.

• Micro Enterprises: 7.5 percent of ANBC has been prescribed for Micro Enterprises, to be achieved in a phased manner i.e. 7 percent by March 2016 and 7.5 percent by March 2017.

• Overall PSL Target for Domestic Bank/Foreign Bank with more than 20 Branches:  40 percent of Adjusted Net Bank Credit.

• Overall PSL Target for Foreign Bank with less than 20 Branches: 40 percent of Adjusted Net Bank Credit to be achieved in a phased manner-

2015-16	32
2016-17	34
2017-18	36
2018-19	38
2019-20	40

Categorization of MSME according to MSME ACT 2006

Manufacturing Sector (Goods)

Enterprises	Investment in plant and machinery
Micro Enterprises	Does not exceed twenty five lakh rupees
Small Enterprises	More than twenty five lakh rupees but does not exceed five crore rupees
Medium Enterprises	More than five crore rupees but does not exceed ten crore rupees

Service Sector

Enterprises	Investment in equipment
Micro Enterprises	Does not exceed ten lakh rupees
Small Enterprises	More than ten lakh rupees but does not exceed two crore rupees
Medium Enterprises	More than two crore rupees but does not exceed five crore rupees

Other Facts:

• Farmers with landholding of up to 1 hectare are considered as Marginal Farmers. Farmers with a landholding of more than 1 hectare and upto 2 hectares are considered as Small Farmers.

• Scheduled Commercial Banks having any shortfall in lending to priority sector shall be allocated amounts for contribution to the Rural Infrastructure Development Fund (RIDF) established with NABARD.

• For Renewable Energy, bank loans up to a limit of Rs.15 crore to borrowers for purposes like solar based power generators, etc. For individual households, the loan limit will be Rs.10 lakh per borrower.

• For Housing, banks can provide loans to individuals up to Rs. 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to Rs. 20 lakh in other centres for purchase/construction of a dwelling unit per family.

• Export credit will be allowed up to 32 percent of ANBC for Foreign banks with less than 20 branches in India. 

• For Education, banks can provide loans to individuals for educational purposes including vocational courses upto Rs. 10 lakh for studies in India and Rs. 20 lakh for studies abroad.

LIC ADO Recruitment 2015 – Apply Online for 5066 Posts

LIC ADO Recruitment 2015 – Apply Online for 5066 ADO Posts: Life Insurance Corporation (LIC) of India has published a notification for the recruitment of 5066 Apprentice Development Officer (ADO) vacancies in the jurisdiction of the various Divisional Offices. Eligible candidates may apply online from 01-06-2015 to 30-06-2015. Other details like age, educational qualification, selection process, application fee, how to apply are given below…

LIC ADO Vacancy Details:
Total No. of Posts: 5066
Name of the Post: Apprentice Development Officer (ADO)

1. LIC Central Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Bhopal	21	3	6	17	6	2	13	68
2	Gwalior	19	7	0	9	1	2	2	40
3	Indore	24	9	6	12	11	1	11	75
4	Jabalpur	21	6	7	8	6	6	6	60
5	Raipur	8	2	5	5	12	1	5	38
6	Satna	11	1	0	6	12	3	4	37
7	Shahdol	6	1	2	3	5	2	3	22
8	Bilaspur	5	1	3	3	10	1	0	23
	Total	115	30	29	73	63	19	44	363

2. LIC Eastern Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Asansol	9	5	1	0	0	4	1	20
2	Bongaigaon	9	1	1	1	0	5	0	17
3	Bardhaman	12	0	0	1	4	4	0	21
4	Gwahati	27	0	0	17	1	7	1	53
5	Howrah	26	13	6	2	1	10	0	58
6	Jorhat	18	2	0	4	0	7	0	31
7	Japaiguri	32	14	0	6	1	12	0	65
8	KMDO-I	26	10	12	3	4	13	5	73
9	KMDO-II	26	8	0	4	3	13	1	55
10	KSDO	54	14	6	3	8	24	2	111
11	Kharagpur	28	10	0	3	0	7	0	48
12	Silchar	22	5	1	11	0	5	1	45
	Total	289	82	27	55	22	111	11	597

3. LIC East Central Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Begusarai	11	2	0	0	0	8	0	21
2	Berhampur	42	13	3	19	5	10	0	92
3	Bhagalpur	14	4	3	4	4	6	1	36
4	Bhubaneswar	16	5	4	7	4	3	0	39
5	Cuttack	22	5	1	10	5	7	1	51
6	Hazaribaugh	19	1	0	10	6	1	0	43
7	Jamshedpur	35	4	0	22	4	8	1	74
8	Muzaffarpur	19	3	0	0	0	16	0	38
9	Patna I	22	10	2	0	0	4	2	40
10	Patna II	14	2	0	0	0	5	7	28
11	Sambalpur	19	5	1	9	6	4	0	44
	Total	233	54	14	87	34	72	12	506

4. North Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Ajmer	16	6	1	4	2	6	0	35
2	Amritsar	25	19	5	0	0	2	1	52
3	Bikaner	4	2	1	2	0	0	2	11
4	Chandigarh	20	11	10	0	0	8	7	56
5	Delhi I/II/III	73	18	20	9	6	18	34	178
6	JaipurI/II	21	7	5	5	4	9	4	55
7	Jalandhar	23	13	3	0	0	9	4	52
8	Jodhpur	11	3	1	3	2	4	0	24
9	Karnal	19	5	3	0	0	2	2	31
10	Ludhina	19	10	2	0	0	8	0	39
11	Rohtak	23	13	4	0	0	6	2	48
12	Shimla	11	5	1	1	0	4	1	23
13	Srinagar	23	4	0	6	1	13	3	50
14	udaipur	13	4	2	3	0	5	1	28
	Total	301	120	58	33	15	94	61	682

5. LIC North Central Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Agra	30	13	6	1	0	16	0	66
2	Aligarh	12	5	0	0	0	7	0	24
3	Allahabad	36	14	3	1	0	20	0	74
4	Bareily	30	13	0	1	0	16	3	63
5	Dehradun (UP)	10	2	0	0	0	0	0	12
6	Dehradun (Uttarakhand)	18	8	0	0		5	1	32
7	Faizabad	18	7	0	0	0	10	0	35
8	Gorakpur	11	4	1	0	0	6	2	24
9	Haldwani (UP)	2	0	0	0	0	0	0	2
10	Haldwani (Uttarakhand)	8	4	1	0		3	1	17
11	Kanpur	44	30	8	1	0	9	5	97
12	Lucknow	26	11	3	0	0	15	1	56
13	Meerut	39	9	4	1	0	18	3	74
14	Varanasi	21	6	3	1	0	14	1	46
	Total	305	126	29	6	0	139	17	622

6. LIC Southern Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Chennai I/II	83	23	0	1	1	32	3	142
2	Coimbatore	44	8	0	1	0	16	4	73
3	Madurai	52	11	0	0	0	20	0	83
4	Salem	30	10	0	0	0	20	0	60
5	Thanjavur	31	4	0	0	0	4	1	40
6	Tirunelveli	16	8	2	0	0	7	1	34
7	Vellore	31	5	0	0	0	7	0	43
8	Ernakulam	25	4	1	0	0	4	3	37
9	Kottayam	30	4	1	1	0	8	1	46
10	Kozhikode	25	5	2	0	0	11	0	43
11	Thrissur	21	4	0	0	0	12	1	38
12	Trivandram	22	9	0	0	1	5	4	40
	Total	410	95	6	1	2	146	18	679

7. LIC South Central Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Kadapa	33	15	0	6	0	11	1	66
2	Hyderabad	23	6	3	3	1	13	4	53
3	Karimnagar	8	2	0	1	0	4	0	15
4	Machilipatnam	22	7	0	3	1	12	4	49
5	Nellore	23	5	0	3	0	14	0	45
6	Rajahmundry	19	6	2	2	1	11	0	41
7	Secunderabad	23	7	0	3	0	13	5	51
8	Vizag	20	6	1	2	0	11	1	41
9	Warangal	6	1	0	1	0	3	0	11
10	Bengaluru I	32	10	0	4	1	18	2	67
11	Bengaluru II	33	7	2	4	2	11	6	65
12	Belgaum	17	5	0	2	0	10	0	34
13	Dharwad	17	5	0	2	0	10	0	34
14	Mysore	21	6	2	2	0	8	0	39
15	Raichur	19	6	0	3	0	9	0	37
16	Shimoga	9	1	0	0	0	8	4	22
17	Udupi	14	4	0	1	0	8	2	29
	Total	339	99	10	42	6	174	29	699

8. LIC Western Zone Vacancy Details:

S.No	Name of Division	Likely Number of Posts							Total
		Gen	SC		ST		OBC
			Current	Backlog	Current	Backlog	Current	Backlog
1	Ahmedabad	40	6	1	12	3	21	8	91
2	Amravati	20	5	1	3	2	12	0	43
3	Aurangabad	19	4	1	1	3	6	1	35
4	Bhavnagar	16	0	0	5	0	5	0	26
5	Gandhinagar	17	2	2	5	0	10	0	36
6	Goa	17	0	0	2	9	11	0	37
7	Kolhapur	14	5	1	1	3	7	1	32
8	Mumbai 1/2/3 & 4	132	30	1	27	1	75	5	271
9	Nadiad	16	2	1	4	0	3	2	28
10	Nagpur	38	1	0	4	2	10	0	55
11	Nanded	6	0	1	1	0	2	1	11
12	Nashik	16	3	0	2	0	11	1	33
13	Pune 1 & 2	31	6	3	7	2	18	9	76
14	Rajkot	15	1	0	6	0	7	2	31
15	Satara	12	0	0	1	2	1	0	16
16	Surat	11	2	0	5	0	3	3	24
17	Thane	17	2	2	4	0	4	0	29
18	Vadodara	22	2	0	7	0	12	1	44
	Total	459	71	14	97	25	218	34	918

Age Limit: Candidates age should have completed 21 years and not more than 30 years as on 01-06-2015. Age relaxation is applicable as per rules.

Educational Qualification: Candidates should possess Bachelor’s Degree of a University in established under a statute or a foreign university approved for the purpose or the Fellowship of Insurance Institute of India, Mumbai for employee category recruitment as an Apprentice Development Officer in both Urban and Rural area shall possess the Bachelor’s Degree of a University in India established under a statute or a foreign university approved for the purpose or the Fellowship of Insurance Institute of India, Mumbai.

Selection Process: Candidates will be called for online test and/ or interview and medical examination.

Application Fee: Candidates have to pay Rs. 500 (Rs. 50/- for SC/ ST candidates + transaction charges) plus Transaction Charges through online payment using debit cards (RuPay/ Visa/ Master Card/ Maestro), Credit Cards, Internet Banking, IMPS, Cash Cards/Mobile Wallets).

How to Apply: Eligible candidates may apply online through website www.licindia.in from 01-06-2015 to 30-06-2015 and send the print out of application on or before 15-07-2015.

Instructions for Online Application:
1. Before applying online a candidate will be required to have a scanned (digital) image of his/her photograph and signature.
2. Log on to www.licindia.in.
3. Click on the “Recruitment of Apprentice Development Officers-2015-16″.
4. After candidate clicks the relevant on-line application link titled “Online Application for LIC ADO’s Recruitment Exam 2015-16”.
5. Click on New Registration.
6. Click on Continue.
7. Fill all the mandatory details in the form carefully and click on ‘Submit’ button to complete the online application process.
8. After submission of online application, candidate need to take printout of the system generated fee payment challan immediately and make payment as mentioned above.
9. Take print out of application form for future use.

Important Dates:
Starting Date for Submission of Online Applications: 01-06-2015.
Last Date for Submission of Online Applications & Editing Application: 30-06-2015.
Starting Date for Online Fee Payment: 01-06-2015.
Last Date for Online Fee Payment: 30-06-2015.
Download of Call Letter for Online Examination: 13-07-2015 Onwards.
Last Date for Print out of Applications: 15-07-2015.
Date of Online Test: 19-07-2015 & 25-07-2015 and/ or any other date.

For more details like age, educational qualification, selection process, application fee, how to apply & other information click on the link given below…

Click here for Recruitment Advt

Click here to Apply Online

बैंक में जमा करने पर गोल्ड से होगी कमाई

फाइनैंस मिनिस्ट्री ने मंगलवार को गोल्ड मॉनेटाइजेशन स्कीम का ड्राफ्ट पेश किया। इस स्कीम का मकसद भारतीयों के घरों में पड़े हुए गोल्ड को फाइनैंशल सिस्टम में लाना है ताकि उसकी वैल्यू अनलॉक हो सके। इस योजना के तहत मिलने वाले ब्याज पर टैक्स न लेने का प्रस्ताव है, वहीं ज्यादा से ज्यादा लोगों को जोड़ने के लिए प्रावधान किया गया है कि कम से कम 30 ग्राम सोने से भी शुरुआत की जा सकती है।

मंत्रालय चाहता है कि गोल्ड की हाउसहोल्ड और इंस्टिट्यूशनल होल्डिंग्स का उपयोग करते हुए इस कीमती धातु के आयात पर निर्भरता घटाई जाए। आम लोगों के अलावा इस स्कीम से मंदिर ट्रस्टों, जूलर्स और बैंकों को भी फायदा होगा।

सरकार इस स्कीम को वेल्थ टैक्स, कैपिटल गेंस टैक्स और इनकम टैक्स से छूट दे सकती है। ड्राफ्ट पर सार्वजनिक प्रतिक्रियाएं मिल जाने के बाद योजना को अंतिम रूप दिया जाएगा। अनुमान है कि देश में तमाम घरों में कुल 20,000 टन सोना पड़ा हुआ है।

फाइनैंस मिनिस्टर अरुण जेटली ने फरवरी के अपने बजट भाषण में ऐसी स्कीम का वादा किया था। उन्होंने कहा था, 'नई स्कीम गोल्ड डिपॉजिटर्स को अपने मेटल अकाउंट में ब्याज हासिल करने का मौका देगी। वहीं, जूलर्स को अपने मेटल अकाउंट पर लोन मिल सकेगा।'

ड्राफ्ट के अनुसार, डिपॉजिट बुलियन या जूलरी किसी भी रूप में किया जा सकेगा। कस्टमर को अपनी जूलरी 350 हॉलमार्किंग सेंटर्स में से किसी एक पर टेस्ट करानी होगी ताकि यह पता चले कि उसमें कितना प्योर गोल्ड है। इन सेंटर्स को ब्यूरो ऑफ इंडियन स्टैंडर्ड्स ने सर्टिफिकेट दिया है। अगर कस्टमर उस सेंटर के आकलन से सहमत होता है, तो वह बैंक में सोना जमा करने के लिए नो योर कस्टमर फॉर्म भरेगा और अपने सोने को पिघलाए जाने की इजाजत देगा। इसमें बमुश्किल 45 मिनट लगेंगे। इसके बाद जूलरी की प्रोसेसिंग होगी और प्योर गोल्ड को तीन-चार घंटों की प्रक्रिया के बाद अलग किया जाएगा।

अगर संबंधित व्यक्ति इस स्कीम से फिर भी हटना चाहे तो वह बार के रूप में अपना गोल्ड वापस ले सकता है। जो लोग स्कीम से जुड़े रहना चाहेंगे, उन्हें सर्टिफिकेट दिया जाएगा, जिसका इस्तेमाल बैंक में गोल्ड डिपॉजिट अकाउंट खोलने में होगा। ऐसे डिपॉजिट पर इंटरेस्ट रेट बैंक तय करेगा। मोतीलाल ओसवाल प्राइवेट वेल्थ मैनेजमेंट के डायरेक्टर (इनवेस्टमेंट एडवाइजरी) आशीष शंकर ने कहा, 'इस स्कीम में इंटरेस्ट रेट अट्रैक्टिव होना चाहिए। स्कीम की सफलता के लिए जरूरी है कि पूरी प्रक्रिया आसान हो।'

ड्राफ्ट में बताया गया है, 'गोल्ड जमा करने वालों को दिए जाने वाले प्रिंसिपल अमाउंट और इंटरेस्ट का वैल्यूएशन गोल्ड में होगा। मसलन, अगर कस्टमर ने 100 ग्राम गोल्ड जमा किया और उसे 1 पर्सेंट ब्याज मिलने वाला हो तो मच्योरिटी पर वह 101 ग्राम गोल्ड की वैल्यू का हकदार होगा।' कस्टमर्स के पास रिडेम्प्शन के वक्त कैश या गोल्ड लेने का विकल्प होगा। हालांकि इसके बारे में डिपॉजिट के वक्त ही बताना होगा। मिनिमम टेनर एक साल होगा।

Wage Revision:10th Bipartite Settlement: Bank Officers Cost/ Distribution Sheet Signed, Wage Revision Final Sign up on 25 May 2015

Now Four Officer Organisations of Bank Employees will sign the new scales and cost sheet at 2 pm tomorrow (20.05.2015). The information received from AIBOC General Secretary Sri Harvinder Singh.
Now Bank Employees are really going to get their 10^th Bipartite Settlement finally signed.

As sources said , the bank employees wage revision final agreement will be signed on 25^th May, 2015.

As per MOU of 23.02.2015 the time period for final signing was fixed within 90 days from the date of MOU means on or before 23.05.2015. 

RBI conveyed their NOC for 2nd and 4^th Saturday’s off, which has been forwarded by IBA with recommendation to govt.

As Sri Harvinder Singh communicated, though this has  hastened the process of notification by govt in this regard, actual implementation of two Saturday’s off may still take time.

No Impact of Writ Petition on Agreement Signup, since HC has not Passed Stay Order 

There was an attempt by "We Bankers" to stop agreement between IBA and associations unions by legal means. A writ petition was filed by "We Bankers" against Deputy CLC, Kanpur in Allahabad High Court. 

Allahabad High Court has directed Deputy CLC to decide the Industrial Dispute raised by We Bankers with in a period of six months.

In this regard, it may be noted that a dispute was filed by "We Bankers" with Deputy CLC against current bipartite on 23rd January, which was not replied by Deputy CLC. "We Bankers" launched and email campaign to which Deputy CLC replied that as per Section 36 of the ID Act only unions registered under the Trade Unions Act can raise dispute. Against this a writ was filed in Allahabad High Court to which Honourable Court has directed Deputy CLC to decide the Industrial Dispute raised by We Bankers with in a period of six months.

A release by "We Bankers" say, "Apart from demands of equality and parity by bringing bank employees under the purview of Pay Commission. One more important point is with regard to authority and competence of retired leaders to negotiate on behalf of bank employees."

"The same will be placed before Deputy CLC demanding status quo in the matter and issuing notices to all the parties.", it added. However, bank employees’ leaders have assured that there will be no impact on bipartite and joint note will be signed as High Court has not passed stay order on it. 

New Pay Scale and Distribution Chart for Clerk and Sub-Staff:

For award staffs, New Pay Scale distribution chart is finalised.

Sub-staff  Pay Scale : 9560 to 18545

Clerical Pay Scale       : 11765 to 31540 (20 Stages)

8 Stag. increment - Clerical - 5 once in 3 yrs and 3 once in 2 yrs - 8th stag. Inc. w.e.f.1.5.2015

DA - 0.10% per slab

HRA - 10%, 9% and 7.50% (Only 3 areas)

Transport Allowance : upto stage-15 - 425 stage 16 & above - 470

Medical - 2200

Spl Allowance @ 7.75% of Basic with DA thereon

Settlement may be signed on 25th. 

Union Budget 2015 - Highlights

Finance minister Arun Jaitley presented the first full-year Budget of Prime Minister Narendra Modi's government on Saturday.

Here are the highlights of the Union Budget 2015:

Fiscal deficit

* Fiscal deficit seen at 3.9 per cent of GDP in 2015/16
* Will meet the challenging fiscal target of 4.1 per cent of GDP
* Remain committed to meeting medium term fiscal deficit target of 3 per cent of GDP
* Current account deficit below 1.3 per cent of GDP
* Jaitley says have to keep fiscal discipline in mind despite need for higher investment

Growth

* GDP growth seen at between 8 per cent and 8.5 per cent y/y
* Aiming double digit growth rate, achievable soon

Inflation

* Expects consumer inflation to remain close to 5 per cent by March, opening room for more monetary policy easing
* Monetary policy framework agreement with the RBI clearly states objective of keeping inflation below 6 per cent
* "One of the achievements of my government has been to conquer inflation. This decline in my view represents a structural shift."

Revenues

* Revenue deficit seen at 2.8 per cent of GDP
* Non tax revenue seen at Rs 2.21 trillion
* Agricultural incomes are under stress

Disinvestment

* Government targets Rs 410 billion from stake sales in companies
* Total stake sale in 2015/16 seen at Rs 695 billion

Market reforms

* Propose to merge commodities regulator with SEBI
* To bring a new bankruptcy code
* Jaitley says will move to amend the RBI act this year, and provide for a monetary policy committee
* To set up public debt management agency
* Proposes to introduce a public contract resolution of disputes bill
* To establish an autonomous bank board bureau to improve management of public sector banks

Policy reforms

* To enact a comprehensive new law on black money
* Propose to create a universal social security system for all Indians
* To launch a national skills mission soon to enhance employability of rural youth
* To raise visa-on-arrival facility to 150 countries from 43
* Allocates Rs 346.99 billion for rural employment guarantee scheme

Borrowing 

* Gross market borrowing seen at Rs 6 trillion
* Net market borrowing seen at Rs 4.56 trillion

General anti-avoidance rules (GAAR) 

* Government defers rollout of anti-tax avoidance rules GAAR by two years
* GAAR to apply prospectively from April 1, 2017
* Retrospective tax provisions will be avoided

Taxation

* To abolish wealth tax
* Replaces wealth tax with additional 2 per cent surcharge on super rich
* Proposes to cut to 25 per cent corporate tax over next four years
* Corporate tax of 30 per cent is uncompetitive
* Tax exemption for transport allowance increased from Rs 800 to Rs 1600 per month
* Individual tax payer will benefit to the extent Rs.4,44,200/- from the exemptions announced

* Increased in deduction for Health insurance from Rs. 15000 to Rs. 25000. For senior citizens
increased to 30,000.

* Exemptions to individual tax payers will remain same
* Net gain from tax proposals seen at Rs 150.68 billion
* Jaitley proposes modification of permanent establishment norms so that the mere presence of a fund manager in India would not constitute a permanent establishment of the offshore fund, resulting in adverse tax consequences.
* Proposes to rationalise capital gains tax regime for real estate investment trusts
* Expects to implement goods and services tax by April 2016
* To reduce custom duty on 22 items
* Basic custom duty on commercial vehicle doubled to 20 per cent
* Proposes to increase service tax rate and education cess to 14 per cent from 12.36 per cent
* Plans to introduce direct tax regime that is internationally competitive on rates without exemptions
* To enact tough penalties for tax evasion in new bill
* Tax department to clarify indirect transfer of assets and dividend paid by foreign firms

Infrastructure

* Investment in infrastructure will go up by Rs 700 billion in 2015/16 over last year
* Plans to set up national investment infrastructure fund
* Proposes tax-free infrastructure bonds for projects in roads, rail and irrigation projects
* Proposes 5 "ultra mega" power projects for 4,000MW each
* Second unit of Kudankulam nuclear power station to be commissioned
* Will need to build additional 100,000km of road
* Ports in public sector will be encouraged to corporatise under Companies Act

Expenditure

* Plan expenditure estimated at about Rs 4.65 trillion
* Non-plan expenditure seen at about Rs 13.12 trillion
* Allocates Rs 2.46 trillion for defence spending
* Allocates Rs 331.5 billion for health sector
* If revenue improves, hope to raise budgeted allocations for rural job scheme by Rs 50 billion

Investment

* Propose to do away with different types of foreign investment caps and replace them with composite caps
* To allow foreign investment in alternative investment funds
* Public investment needed to catalyse investment

Gold

* To develop a sovereign gold bond
* To introduce gold monetisation scheme to allow depositors to earn interest
* To introduce Indian-made gold coin to reduce demand for foreign gold coins

Subsidies

* Food subsidy seen at Rs 1.24 trillion
* Fertiliser subsidy seen at Rs 729.69 billion
* Fuel subsidy seen at Rs 300 billion
* We are committed to subsidy rationalisation based on cutting leakages

Others

· Govt announces AIIMS institutions in J& K , Punjab , Himachal Pradesh and Assam.
· ISM Dhanbad will be upgraded to full IIT
· National Insurance scheme called PM Suraksha Bhima Yojana, offering coverage of 2 lakh rupees for just premium of Rs.12 per year.
· Defense budget has been enhanced to 2,46,727 crore rupees, an approx. increase of Rs. 25,000 crore

Note : Information has been compiled from The times of india and other source.