Ankit Kumar
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Indian Budget 2016-17 .. Main Thread ..
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PARIKRAMA
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Budget 2016: Disappointing 4.8% hike in defence allocation, for first time pension bill added
By Manu Pubby, ET Bureau | Feb 29, 2016, 02.14 PM IST
NEW DELHI: In a disappointment for the defence forces, a very modest hike of 4.8 percent has been allocated to the ministry of defence, one of the lowest increases in years as the military pensions bill has zoomed to Rs 82,000 crore.
As first reported by ET, the ministry has also not been able to utlilize a significant chunk of money allocated for defence modernization, resulting in a small hike in allocations. Also for the first time, military pension bill has been to the defence budget.
The total allocation has thus zoomed to Rs 3.40 lakh crore but of pensions are subtracted as has been the form, this would come to only Rs 2.58 lakh crore. This would mean a meaningful hike of 4.8 percent.
Budget 2016: Disappointing 4.8% hike in defence allocation, for first time pension bill added - The Economic Times
By Manu Pubby, ET Bureau | Feb 29, 2016, 02.14 PM IST
NEW DELHI: In a disappointment for the defence forces, a very modest hike of 4.8 percent has been allocated to the ministry of defence, one of the lowest increases in years as the military pensions bill has zoomed to Rs 82,000 crore.
As first reported by ET, the ministry has also not been able to utlilize a significant chunk of money allocated for defence modernization, resulting in a small hike in allocations. Also for the first time, military pension bill has been to the defence budget.
The total allocation has thus zoomed to Rs 3.40 lakh crore but of pensions are subtracted as has been the form, this would come to only Rs 2.58 lakh crore. This would mean a meaningful hike of 4.8 percent.
Budget 2016: Disappointing 4.8% hike in defence allocation, for first time pension bill added - The Economic Times
kmc_chacko
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Can anybody explain regarding not changing IT limit ?
Jaitley failes to deliver 3rd time in a row, still Modi seem content having him as FM says a lot
If at all slabs be increased will happen only in 2018
If at all slabs be increased will happen only in 2018
PARIKRAMA
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Instead of changing the limits, indirect benefits has been given
See this
Finance Minister Arun Jaitley did not change income tax slabs in his third Budget, but he did tweak some deductions and announced multiple new cesses, which will impact tax liability for the common man.
Here is a complete list of new tax measures announced in Budget 2016:
Direct Tax:
1) Deduction limit under Section 87A of the Income Tax Act has been raised from Rs. 2,000 to Rs. 5,000 per annum. This will help over 2 crore taxpayers save more.
2) Taxpayers who live in rented houses and don't get house rent allowance (HRA) can deduct Rs. 60,000 per annum from their income from the current Rs. 24,000.
3) An additional deduction of Rs. 50,000 on interest paid by first-time home buyers on home loans of up to Rs. 35 lakh, provided the house value doesn't exceed Rs. 50 lakh, has been announced.
4) Super-rich, or those with an income of over Rs. 1 crore, will have to pay more taxes as surcharge has been raised from 12 per cent to 15 per cent.
5) Individuals who receive dividends in excess of Rs. 10 lakh per annum will now have to pay 10 per cent tax on gross amount of dividend.
10 Big Tax-Related Announcements in Budget 2016 – NDTV Profit
Ankit Kumar
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I wonder why cannot Modi simply call a joint session and clear GST and Land Acquisition bill?
LAB was not worth the political capital spend on it by the govt again serious error of judgement on part of jaitley early on, it should've been left to States from start. Ramming through LAB in times of heavy rural distress like this will only create negative perception.
The GST is essentially two bills one GST itself (can be passed through joint session ) other a constitutional amendment to combine Centre excise and state VAT (requires 2/3rd maj passage in both houses and cannot be passed in joint session). So without cong support passing GST is impossible and looking at Congress's ridiculous demands like putting rate cap in constitutional amendment it seems they're least interested in letting it pass.
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utraash
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This is what I wanted him to do in first six month of his office....
He to succumbed to political populism over land acquisition bill .....
Sometime I feel he is simply wasting the majority in LS ..... He will not be getting these no in next election for sure......
Abingdonboy
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How can the DM promise that the full allocation will be spent though? He can say they will aim for it but there is no way he can assure us 100% will be spent before the next FY has even begun. What will he do differently to ensure this happens?
@anant_s @PARIKRAMA @Levina @Pulsar @Skull and Bones @ranjeet @Echo_419
The IA needs to be blamed also, see:
Indian Army grapples with arms, gear shortage
Blaming the civvies alone will ignore the faults of the IA and won't see that the mess is addressed.
Barely in line with inflation BUT, and this is the crux of the problem, IF the forces can actually spend upwards of 95% of the allocation then defence spending will increase in 2016-17 quite substantially in real terms. A higher allocation is rather meaningless if the military is still returning billions at the end of the fiscal.
This is the real issue. Announcing these budgets in Febuary every year and promising the moon and the stars is all well and good but in 12 months time what will be the actual ground reality? Proper monitering of the implementation and continuously therafter is essential so these promises can be translated into tangible gains. Let's hope this happens.
It can't happen IMO, as the unspent funds are only returned at the end of the FY to the FM and to not continue over into the next FY as such by the time it is clear how much has been unspent the new budget allocation is already out. There is nothing the DRDO can do with uncertain and inconsistent cash flows like that- they too need to have long term budgets. The solution is simply to ensure as much of the defence budget is spent as possible, those responsible (both military and civlian) for returning unspent funds need to face severe scrutiny for failing to do their duty.
Rafales yes but I'm not convinced S400 will be signed in the next FY.
Also, let's not forget that vital procurements such as the A330 MRTT and S-70B are still waiting to be signed that this DM inherited from the UPA but is ignoring entirely. The S-70Bs are particuarly urgent as the IN is being forced to fly their critcal warships with empty hangers or ancient 30+ year old Sea Kings.
Get GST and LAB passed this year and India will be growing at >9% from 2018/19
skyisthelimit
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How can the DM promise that the full allocation will be spent though? He can say they will aim for it but there is no way he can assure us 100% will be spent before the next FY has even begun. What will he do differently to ensure this happens?
@anant_s @PARIKRAMA @Levina @Pulsar @Skull and Bones @ranjeet @Echo_419
The IA needs to be blamed also, see:
Indian Army grapples with arms, gear shortage
Blaming the civvies alone will ignore the faults of the IA and won't see that the mess is addressed.
Barely in line with inflation BUT, and this is the crux of the problem, IF the forces can actually spend upwards of 95% of the allocation then defence spending will increase in 2016-17 quite substantially in real terms. A higher allocation is rather meaningless if the military is still returning billions at the end of the fiscal.
This is the real issue. Announcing these budgets in Febuary every year and promising the moon and the stars is all well and good but in 12 months time what will be the actual ground reality? Proper monitering of the implementation and continuously therafter is essential so these promises can be translated into tangible gains. Let's hope this happens.
It can't happen IMO, as the unspent funds are only returned at the end of the FY to the FM and to not continue over into the next FY as such by the time it is clear how much has been unspent the new budget allocation is already out. There is nothing the DRDO can do with uncertain and inconsistent cash flows like that- they too need to have long term budgets. The solution is simply to ensure as much of the defence budget is spent as possible, those responsible (both military and civlian) for returning unspent funds need to face severe scrutiny for failing to do their duty.
Rafales yes but I'm not convinced S400 will be signed in the next FY.
Also, let's not forget that vital procurements such as the A330 MRTT and S-70B are still waiting to be signed that this DM inherited from the UPA but is ignoring entirely. The S-70Bs are particuarly urgent as the IN is being forced to fly their critcal warships with empty hangers or ancient 30+ year old Sea Kings.
Get GST and LAB passed this year and India will be growing at >9% from 2018/19
That is why Digital India is very important.
Abingdonboy
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As I've said bro, I think that is rather immaterial. IF the DM can actually get a high utilisation of the funds allocated defence procurements will increase as a whole in real terms.
It's a big IF but it seems to be what Parrikar has promised.
++ the pensions were always going to kill the defence spending, all the more reason to start reducing the non-essential manpower now (I'm talking purely about the IA here).
Vergennes
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@Abingdonboy @PARIKRAMA @AUSTERLITZ @MilSpec @nair @Levina @ranjeet
What will be India's spendings and revenues ?
What's budgets for every ministry ? (In billion of $ please,because I understand nothing at "crores,lakhs"...)
Thanks !
What will be India's spendings and revenues ?
What's budgets for every ministry ? (In billion of $ please,because I understand nothing at "crores,lakhs"...)
Thanks !
Abingdonboy
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Sam.
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He is on defensive that's for sure but my guts tell me he will start to generate pace from next year till 2019.Also as @magudi explained we can't pass GST even with joint session.(without Congress impossible and they won't let it happen.)Yup
Indian Budget 2016-17 .. Main Thread .. | Page 7
4 election this year which hold 20% RJ seats and big UP election next year early so it's wait and see game from now on.
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