Budget News

Budget 📊 2016: Q&A ⚖Advocate VV's Final Verdict❗️

D👑Queen: The markets don't seem to have reacted that positively to Budget 2016 with the Sensex ending the day down⬇ by 150. Your closing remarks?

⚖Advocate VV: In conclusion, the FM seems to have taken the path of presenting a pro-poor budget with a huge focus on agriculture and …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Mixed Questions

D👑Queen: Retrospective amendment of tax laws has been a pain for many corporates.

⚖Advocate VV: Yes, the FM also announced new Dispute Resolution Scheme where Government has offered one-time settlement of cases emanating from retrospective amendment of tax laws. Companies can pay basic tax demand, and get waiver from …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗General Points

D👑Queen: Duta readers are asking about affordable housing.
⚖Advocate VV: One 👍 announcement is the exemption of service tax on construction of affordable houses upto 60㎡ (~645 sq.ft) under any scheme of Central & State Government. This along with the 100% deduction on profits to an undertaking in housing projects …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Start-ups

D👑Queen: So we have lots of questions about small and medium business, and of course startups. Let's talk about the Budget 2016 with respect to start-ups and micros/small/medium enterprises (MSME's)

⚖Advocate VV: First and foremost, in the "Startup India" action plan, the FM 📢 a 100% deduction of …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Monetary Policy

D👑Queen: And monetary policy?
⚖Advocate VV: An interesting announcement was the 🔈 of a statutory basis for a Monetary Policy Framework and a Monetary Policy Committee which will require amendment of the RBI (Reserve Bank of India) Act❗ The idea is for this committee comprising of Govt and RBI officials …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Financial Sector

D👑Queen: What about black money and property?
⚖Advocate VV: The FM also made reference to changes in the FEMA (Foreign Exchange Management Act) to incorporate black money provisions and 🔈 the Government will work to curb "benami" transactions in property deals. Details of these schemes are yet to be released …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗▣Money

D👑Queen: OK, Duta people, the next area of interest for you all is the Financial Sector & Black Money❗
⚖Advocate VV: Firstly, many of you have asked about the compliance window announced in Budget 2016 ❗ Yes, this is a peculiar scheme in my opinion, and whose impact will be known …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗More Infra

D👑Queen: What about energy infrastructure? Anything else for companies to note?

⚖Advocate VV: Interestingly, nuclear power was given a thrust in this Budget 2016 with an augmentation plan for the next 15-20 years.
Reforms in Foreign Direct Investment policy in areas of asset reconstruction companies, stock exchanges and insurance …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Infrastructure

D👑Queen: We're covering a lot of ground. On to the 6th area of impact, infrastructure.
⚖Advocate VV: ⬆ The FM's Budget 2016 was big on infrastructure👍. Grandiose investments in roads totalling ₹ 97,000 cr 💰 were announced🎉. The total outlay for infrastructure in Budget 2016 stood at a whopping ₹ 2,21 …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Business

D👑Queen: Any provisions to help businesses create jobs?
⚖Advocate VV: One very important 📢 that we should not overlook is that Government will pay 8.33% of EPF for all new employees for the first 3⃣ years👏🎉. This is to boost the creation of new jobs in 🇮🇳 and will be …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗ R&D, Logistics

D👑Queen: And Research and Development?
⚖Advocate VV: There was some disappointment in research-oriented companies. The FM in his phasing out of exemptions also laid out roadmap to reduce and eventually do away with "weighted deductions" for R&D expenditure which is key a deduction for most research companies (ranging …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Business

D👑Queen: Now the 5th impact area in our coverage. I'd like you to spend time on the impact of Budget 2016 on companies and businesses. We have had lots of questions on this topic, can you address the main ones?

⚖Advocate VV: The FM true to his promise last …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Health & Social Security

D👑Queen: Another area where we received lots of questions was around health and social security.
⚖Advocate VV: The new health protection scheme will provide health cover up to ₹ 1 lakh per family👏 Senior citizens get an additional top-up of ₹ 30,000❗ In addition, "National Dialysis Service Programmes" are to …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Rural

D👑Queen: There is a term you just used, MGNREGA. Can you explain?

⚖Advocate VV: Sure, MGNREGA is the popular Mahatma Gandhi National Rural Employment Guarantee Act. It applies all over India - the idea is to provide at least 100 days of guaranteed wage employment in rural areas to enhance …

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❓AskDuta❓ Budget 📊 2016: Q&A ⚖Advocate VV❗Farmers

D👑Queen: Onto the third impact area we've a tonne of questions on agriculture and the rural sector.

⚖Advocate VV: ⬆ Well one thing is clear - this budget had tremendous focus on the rural sector and agriculture❗ In a sense, one can say that this was a pro-farmer budget.

The FM …

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