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The top announcements made in Union Budget 2015
Updated: February 10, 2016 11:54:35 am- 1 / 6
The government hiked the excise duty on cigarettes, tobacco products, packed condensed milk, peanut butter, making the consumption of these products more expensive.
- 2 / 6
By increasing the service tax from the current 12.36% to 14%, eating out, using credit and debit cards, cabs and mobile phones all became expensive.
- 3 / 6
- 4 / 6
The education cess has been absorbed as an increase in the service tax rate from 12 per cent to 14 per cent, bringing it into the shareable pool.
- 5 / 6
The government announced that it would set up MUDRA, a bank to finance the setting up of small and micro-units and thereby encourage entrepreneurship among SC/STs and OBCs.
- 6 / 6
Finance Minister Arun Jaitley said in his budget speech that all public sector ports owned by the Union government will be encouraged to convert into corporate entities from a trustee setup to bring about operational efficiency and financial autonomy.