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Tuesday, January 31, 2017

India Budget 2017 Updates

1.   Finance Minister proposes to reduces income tax rate to 5 percent for tax slab of Rs 250,000 to Rs 500,000.
2.   Political parties will be authorize to receive donations by cheque or digital modes.
3.   Any party can receive maximum cash donation Rs 2000 from one source.
4.   Black money SIT has suggested no cash transaction above Rs 3 lakh. The government has accepted this recommendation.
5.   Small firms with turnover up to Rs 50 crore to pay 25% tax now, rather than 30%
6.   Aadhaar Pay- an app for merchants- to be launched' 20 lakh aadhaar-based POS by September 2017.
7.   500 rail stations to be made differently abled-friendly by providing lifts and escalators.
8.   Two new All India Institute of Medical Sciences(AIIMS) to be set up in Jharkhand and Gujarat.
9.   133-km road per day constructed under Pradhan Mantri Gram Sadak      Yojana as against 73-km in 2011-14.