Mr Sharecastic's thumbs up to the Budget!

Modi government's maiden Budget of the term turned out be very positive and market friendly, as we had expected. The market remained cautious before the budget as we saw some dips in previous sessions, but bounced back nicely during the course of the day. The new budget had a lot of important reforms which would help the economy to grow forward and more importantly will help us investors to invest and grow our fortune from the stock market. The key sectors to look out for have been Infrastructure, Power and Banking. 

Here are some of the key features of this budget:

• No change in income tax rates; personal income tax exemption limit raised from Rs 2 lakh to Rs 2.50 lakh.
• Propose to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh
• Tax exemption on interest component on housing loan raised to Rs 2 lakh from Rs 1.5 lakh
• Tax exemption limit for senior citizens changed from Rs 2.5 lakh to Rs. 3 lakh
• 10 year tax holiday for power companies who start production and distribution on  March 31, 2017
• Revenue deficit pegged at 2.9 per cent of GDP
• Budget proposes Plan expenditure of Rs 5,75,000 crore for current fiscal.
• Annual PPF ceiling to be enhanced to Rs 1.5 lakh, from Rs 1 lakh
• Airports to be developed in tier 1 and 2 cities, 16 new  port projects to be awarded this year
• Investment in NHAI and state highways to the tune of Rs 37,887 crore, including Rs 3000 crore for North East
• Govt committed to providing 24x7 power supply to all homes.
• Single KYC norms for all financial services and one demat account for all financial products
• Rs 500 crore for solar power development project in Tamil Nadu and Rajasthan.
• Rs 11,600 cr for developing outer harbour projects Rs 11,600 cr for developing outer harbour projects
• Mining issues to be resolved on priority
• Govt proposes to set up 100 smart cities.
• Govt to provide Rs 7,060 crore for development of such cities.
• 20 new industrial clusters announced
• We will examine proposal to give greater autonomy to banks:FM
• Rs 500 crore allocated for stabilizing prices of agricultural commodities
• Rs 3600 cr set aside for National Rural Drinking Water: FM
• Budget proposes 49 per cent FDI in insurance through FIPB route
• Propose to provide finance to 5 lakh landless farmers through NABARD
• Manufacturing units will be allowed to sell their products through retail and e-commerce
• Committed to sustaining 4% growth in agriculture, extend credit to joint farming groups
• Rural housing: Rs 8000 crore for national housing banking programme
• FM announces development of Metro rails in PPP mode.
• Rs.100 cr set aside for metro scheme in Ahmedabad and Lucknow.
• Each year government will be adding AIIMS to ensure there is an AIIMS in every state.
• Rs 100 crores to set up virtual classrooms.
• Rs 500 crores for setting up 5 more IIMs and IITs.
• FM Proposes to enhance the scope of income tax settlement commission.
• Rs 7,060 crore allocated for building new cities
• Jaitley announces e-visas to promote tourism
• The government is committed to the welfare of scheduled castes and tribes.
• Rs 200 crores credit scheme for start-ups by those from scheduled castes and tribes
• Jaitley announces Skill India, a programme to train youth for jobs
• Equity in PSU banks to be raised through share sale to the public.
• Rural housing: Rs 8000 crores for national housing banking programme
• MGNREGA programme to made more productive
• Women's safety: Rs 100 crores for Beti Bachcao, Beti Padhao Yojana
• Senior Citizens Pension Plan Extended Till August 2015
• Aim to achieve 7-8 per cent economic growth rate in next 3-4 years.
• We need to revive growth particularly in manufacturing sector and infrastructure.
• Anti-poverty programmes will be targeted well.
• Will leave no stone unturned to create a vibrant India.
• Should not allow economy to suffer because of indecisiveness and populism
• Finance Minister emphasizes on fiscal prudence, need to generate more resources.

Cheer up and know that good days are yet to come! Moreover, you have Mr Sharecastic by your side, so Keep calm and follow Mr Sharecastic!

Happy Trading!