Budget LIVE: Defence allocation is Rs 2,46,727 crores, says Jaitley

[anant_s]

Afaik 15% is the usual immediate payment...

MMRCA $15 to 20 billion = $2.2 to 3 billion

Thanks, i calculated (600-700 million) based on 5% of 12-13 billion USD price. There are so many price tag values going, it becomes confusing at times.

 

[janon]

We should donate all our old equipment to pakistan.

That would be half our air force, and 90% of our army's air defence.

 

[truthseeker2010]

For the record:

2012-13 to Rs 1.93 lakh crore
2013-14 to Rs 2.03 lakh crore
2014-15 to Rs 2.29 lakh crore
2015-16 to Rs 2.46 lakh crore

..:: India Strategic ::. MoD Updates: India's Defence Budget 2013-14

Defence Ministry gets Rs 2.29 lakh cr in Union Budget | The Indian Express

giving by the past increases of around 7-8% increase in defence budget, and taking a more optimum growth rate of 10% per year from now to 2022, the indian defence budget will reach 78 billion by 2022-23, and the cumulative spending will be around 380-390 billion which is around 60% of what the research report predicted (620 billion) just a week ago......

 

[anant_s]

That would be half our air force, and 90% of our army's air defence.

 

[Diggy]

 

[Diggy]

ok

 

[Mike_Brando]

I believe you have posted the 2014-15 defence budget.

 

[janon]

Anything for salaried class/individuals?

@anant_s @janon

More deductions but no I-T slab change: What Budget 2015 offers salaried class - Firstpost

No change in slabs, but a few tax exemptions increased.

 

[thesolar65]

@anant_s

Why waste your comment on that?

BTW, exemption has not been increased, yet people are tell that it good for individual salaried class. Do you know anything about it?

 

[anant_s]

Anything for salaried class/individuals?

@anant_s @janon

No mate, unfortunately none
but in any case FM had given feelers that it will be difficult to give any kind of relief on IT front as its adds to load on exchequer.
To be honest that 1.50 Lakhs IT deduction limit needs to be increased, that gets exhausted just with 10% mandatory PF deduction in most cases and to top it all all other savings (barring PPF) are now taxable in one form the other. If you incorporate effect of inflation, it is difficult to get more than 5-6% actual appreciation growth rate in any savings.
I think government is actually pushing people to spend more in market by discouraging savings. this way they are trying to revive the manufacturing cycle and retail sector.
However if you have some old good quality investment (atleast 5 years) in stock market or mutual funds, i believe in next 2-3 years that could prove to be jackpots!

 

[Diggy]

I believe you have posted the 2014-15 defence budget.

yeah mate...i just wanted to show how funds are distributed

 

[kaykay]

More deductions but no I-T slab change: What Budget 2015 offers salaried class - Firstpost

No change in slabs, but a few tax exemptions increased.

Yes. Earlier tax exemption for a service man was ~4.2 lakhs rupees which now is ~4.4 lakhs. So In short tax exemption on 20k more ( or 2 thousands rupees saving).

 

[thesolar65]

No mate, unfortunately none
but in any case FM had given feelers that it will be difficult to give any kind of relief on IT front as its adds to load on exchequer.
To be honest that 1.50 Lakhs IT deduction limit needs to be increased, that gets exhausted just with 10% mandatory PF deduction in most cases and to top it all all other savings (barring PPF) are now taxable in one form the other. If you incorporate effect of inflation, it is difficult to get more than 5-6% actual appreciation growth rate in any savings.
I think government is actually pushing people to spend more in market by discouraging savings. this way they are trying to revive the manufacturing cycle and retail sector.
However if you have some old good quality investment (atleast 5 years) in stock market or mutual funds, i believe in next 2-3 years that could prove to be jackpots!

Same thing with me.

I have make calculation and adjustments to save more this year. Nothing to cheer (for me at least)!!

 

[anant_s]

@anant_s

Why waste your comment on that?

BTW, exemption has not been increased, yet people are tell that it good for individual salaried class. Do you know anything about it?

Dada, directly there doesn't seem to be much (i'll have to read full report and analysis tomorrow), however he has made some changes in section 80C. I'll quote a few

it is proposed to increase the limit of deduction on account of health insurance premium from Rs.15,000 to Rs.25,000 -- for senior citizens this limit is to be increased from Rs.20,000 to Rs.30,000.

For senior citizens above the age of 80 years -- who are not eligible to avail of health insurance -- deduction will be allowed for medical expenses up to Rs.30,000.

The deduction limit of Rs.60,000 on expenditure on account of specified diseases -- like cancer -- will be enhanced to Rs.80,000 in the case of senior citizens.

The minister also proposed additional deduction of Rs.25,000 for differently-abled persons, increasing the limit from Rs.50,000 to Rs.75,000.

It is also proposed to increase the limit of tax deduction from Rs.1 lakh to Rs.1.25 lakh in case of severe disability.

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. Additional deduction of Rs.50,000 will be allowed for contribution to the new pension scheme under section 80 CCD of Income Tax Act -- increasing the exemption from Rs.1 lakh to Rs.1.5 lakh.

Jaitley also doubled the transport allowance exemption to Rs.1,600 per month.

So as i understand he has allowed some flexibility for IT payers by allowing them to choose avenues of saving, but since slab and exemption limits are unchanged, directly speaking or looking, this is pretty much status quo.

Same thing with me.

I have make calculation and adjustments to save more this year. Nothing to cheer (for me at least)!!

One person from our accounts section has remarked, that for average person, PPF looks like best saving option right now (for long term savings ie).

 

[Screambowl]

what about the defence industries which will be under make in India platform. are they also included in this budget .. ?

 

[Emmie]

Don't feed a troll.... Cleaned!