Analysis of Budget for the past 3 years

Budget Analysis
2013-2014

2014-2015

2015-2016

1138734

1364524

1449490

Corporation Tax

394678

451005

470628

Taxes on Income

242857

284266

327367

1008

950

...

Customs

172085

201819

208336

Union Excise Duties

170198

207110

229808

Service Tax

REVENUE RECEIPTS
1. Tax Revenue
Gross Tax Revenue

Wealth Tax

154778

215973

209774

Taxes on Union Territories

3130

3401

3577

Less - NCCD transferred to

the National Calamity
Contigency Fund/National
Disaster Response Fund

4650

5050

5690

Less - State's share

318230

382216

523958

Centre's Net Tax Revenue

815854

977258

919842

Interest receipts

21868

19751

23600

Dividend and Profits

90435

90229

100651

2. Non-Tax Revenue

External Grants

3618

2405

1774

81475

99009

94413

1474

1111

1296

Total Non Tax Revenue

198870

212505

221733

Total Revenue Receipts

1014724

1189763

1141575

1. Recoveries of loans and

advances@

12497

10527

10753

2. Miscellaneous Capital
Receipts

29368

63425

69500

Total

41865

73952

80253

453551

461205

456405

7729

34553

30063

Other Non Tax Revenue

Receipts of Union Territories

3. Capital Receipts
A. Non-debt Receipts

B. Debt Receipts*
3. Market Loans
4. Short term borrowings

5. External Assistance (Net)

7292

5734

11173

6. Securities issued against

Small Savings

12357

8229

22408

9753

12000

10000

7. State Provident Fund (Net)

8. Other Receipts (Net)

31348

-7704

13559

Total

522029

514017

543608

Total Capital Receipts (A+B)

563894

587969

623861

4. DRAW-DOWN OF CASH
BALANCE

-19171

17160

12041

1559447

1794892

1777477

Financing of Fiscal Deficit

(3B+4)

502858

531177

555649

Revenue Deficit (17-1)

357048

378348

362486

...

20000

20000

12052

12290

11961

Total Receipts (1+2+3+4)

Receipts under MSS (Net)

@ excludes recoveries of shortterm loans and advances from
States, loans to Government
servants, etc.

Investment in Different Sectors

Sectors

2013- 14

2014 -15

2015- 16

Auto

Excise duty on SUVs

increased from 27% to
30%

Banks

Every branch of Public

sector banks to have
ATM by 31 March
2014. First Women's
Bank with initial
capital of Rs 1,000
crore to be set up. On
loan of up to Rs 25
lakh for the first home,
additional income tax
deduction of Rs 1 lakh
on interest paid is
proposed
Companies spending
Rs 100 crore or more
in FY14 or FY15 on
plant and machinery
will get 15% of it as a
tax break for those
years in addition to
depreciation
STT on equity futures
has been reduced by
over 40%. Tax-free
bonds worth Rs
50,000 crore to be
issued. No meaningful
policy changes or
incentives to enthuse
small investors.
No major change

Excise duty on cars,

motorcycles and SUVs
cut; prices to fall in
the range of Rs
15,000-Rs 4 lakh
Capital infusion of Rs
11,200 crore in PSBs.
Interest component of
education loan taken
before March 2009 to
be waived

Tariff rate on
Commercial Vehicles is
increased from 10% to
40% and effective rate
from 10% to 20%.
MUDRA Bank, with a
corpus of Rs 20,000
cr, and credit
guarantee corpus of
Rs 3,000 cr proposed.
MUDRA Bank will
refinance MicroFinance Institutions
through a Pradhan
Mantri Mudra Yojana.

Excise duty cut from

12% to 10%

No key
announcements that
directly impact capital
goods companies

Capital
Goods

Stocks

Mutual
Funds

Consumer
durables

Branded clothes to
become cheaper;
SUVs, smartphones
get costlier. Service
tax of 12% on all AC
restaurants

No major change

No major change

Computers, Electrical
appliances to go
cheaper

Exemptions are
withdrawn on services
provided by a mutual
fund agent to a mutual
fund or assets
management
company, distributor
to a mutual
fund or AMC
Leather footwears,
LED/LCD TVs, LED
Bulbs, Tablets, Solar
water heaters, video
camra to go cheaper

Power

Power sector benefits

under section 80IA will
continue for another
year.

No major change

Pharma

Allocation of Rs 4,727
crore for medical
education, training
and research. Increase
in surcharge from 5%
to 10% and in royalty
rates of tax from 10%
to 25%.
Higher allocation to
Flagship schemes and
plans for tribal,
women and poor.
Extra Rs 10,000 crore
for meeting enhanced
subsidy after food
security act.

No major change

FMCG

Specific excise duty

increased by about
18% on Cigarettes and
Cigars

Healthcare

National Health
Mission's spending
increased by 24% over
the revenue
expenditure of last
year. Govt allocated
Rs 37,330 crore to
ministry of health and
family welfare.
No major change

To encourage
domestic production of
soaps, custom duty on
non-edible grade
industrial oils has
been rationalised at
7.5%
Health ministry has
delevered JE vaccine,
a diagnostic test for
Thelassaemia and
Magnivisualizer for
cervical cancer
detection

Social
services

IT

Oil and Gas

No custom duty levied

on crude imports.

One rank, one Pension

for defence personnel.
Food subsidy
increased by Rs
20,000 crore

No major change

No major change

Five ultra mega power

projects, each of 5,ooo
MW coming, this will
bring Rs 1 lakh cr
investment
No major change

IIT in Karnataka and

IIMs in J&K and Andhra
Pradesh. Atal Pension
Yojana, which will
provide a defined
pension, launched.
The limit on deduction
on account of
contribution to a
Pension Fund and the
New Pension Scheme
is proposed to be
increased from Rs.1
lakh to Rs.1.5 lakh.
Cigarettes and
tobacco products to go
expensive; excise duty
raised from 12 to
12.5%
AIIMS in Punjab, J&K,
Tamil Nadu, HP and
Assam this year

Set up a fully IT based

student aid and loan
facility through PM
scheme
No major change

Realty

Gold

Income tax

NHB to set up the

Urban Housing Fund in
consultation with the
RBI. Luxury houses will
become expensive.
Govt proposed to
apply TDS at 1% on
the value of transfer of
immovable properly
where the
consideration exceeds
Rs 50 lakh.
Duty-Free import limit
raised to Rs 50,000 for
men and Rs 1 lakh for
women.
Setting up of tax
administration reform
commission. Tax credit
of Rs 2,000 to every
person with income in
Rs 2 lakh-5 lakh range.
A 10% surcharge on
those with taxable
income of over Rs 1
crore.

No major change

Rental income from

real estate assets
directly held by REITs
are proposed to be
allowed to pass
through and taxed in
the hands of the unit
holders of the REIT.

Govt to look into

relaxing gold import
curbs imposed in April
& May 2013.
No announcement
regarding any change
in tax laws.

Will introduce
sovereign gold bonds
and gold monetisation
scheme
No change in the rate
of personal income
tax, yet individual tax
payers to get income
tax benefit of Rs
4,44,200 in a year.
Increase in health
insurance premium
tax benefit from Rs
15,000 to Rs 25,000
and for Sr citizens Rs
30,000.

List of Schemes and Government policies launched in

2015
Scheme Launched

Date

Sukhanya Samridi Account

22-Jan15

HRIDAY(National Heritage City Development

And Augmentation Yojana)
Beti Bachao Beti Padhao Yojana
MUDRA Bank Yojana

21-Jan15
22-Jan15
8-Apr-15

Pradhan Mantri Jeeva Jyoti Bima Yojana

9-May-15

Pradhan Mantri Jeeva Suraksha Bima Yojana

9-May-15

Atal Pension Scheme

9-May-15

Digital India
Skill India

1-Jul-15
15-Jul-15