...Union Budget 2014-15 10th July, 2014 Union Budget 2014-15 Budget 2014-15 Holistic Plan of Action In comparison to the less than ordinary and unimaginative budgetary proposals of yester years, Modi’s maiden budget comes as a welcome change from the norm. The proposals and reforms suggested in the Union Budget 2014-15 are ground breaking, specific with a good measure of thought & common sense and vastly catered for holistic growth of the economy. The challenging circumstances of a slowing economy, soaring energy prices, inflation, fiscal and current account deficits do not provide adequate leeway to maneuver and hit the path of high growth. Yet the Budget provides a comprehensive plan and directional footprint towards overcoming these hurdles to sustainable growth of 7-8% over the next few years along with providing macro economic stability, lowered inflation, realistic fiscal health targeting and a manageable current account deficit. Country is in no mood to suffer unemployment & apathetic governance 10th July, 2014 Union Budget 2014-15 Budget 2014-15 Holistic Plan of Action The Finance Minister while presenting the budget takes cognizance of the fact that decisive action to fuel growth without populism is the need of the hour. And that resources for developmental expenditure cannot be raised at the cost of burdening the future generations with the legacy of debt. He goes on to emphasize the need to mobilize resources through both tax and non-tax...
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...UNION BUDGET 2014 - 2015 UNION BUDGET 2014 - 2015 INDEX o o o o Key Highlights Tax Rates: Direct Taxes Market movements: Equity & Debt Economic update: o o o Budget summary Revenue snapshot Expenditure snapshot Sector updates Financial Sector Mutual Funds o o Equity Market: Outlook and Strategy Debt Market: Outlook and Strategy 1 UNION BUDGET, 2014 - 2015 KEY HIGHLIGHTS On the back of a decisive mandate, the first budget of the NDA government has laid out a broad policy framework in terms of sustained growth along with fiscal prudence. The finance minister has presented the budget amidst challenges like sub 5% growth and high level of inflation. The budget stresses the need to revive growth in manufacturing and infrastructure sectors. It also highlights the importance of improvement in Tax to GDP ratio and Non-tax revenues. • Tax revenues budgeted at 10.6% of GDP in FY15. • Tax budgeted to grow at 20% in FY15 compared with 10% growth seen in FY14 • Assumption of nominal FY15 GDP growth of 13.4%. • Retains fiscal deficit target at 4.1% of GDP. • Increased divestment target of Rs 634 bn • Boost to domestic manufacturing and investments, particularly in infrastructure and export-oriented manufacturing sectors • PPF scheme annual ceiling enhanced to Rs 1.5 Lakh p.a. from Rs 1 Lakh at present • Personal income tax exemption limit raised by Rs 50,000/-, to Rs 2.5 Lakh • Investment limit under section 80C of the Income tax Act raised to Rs...
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...FOREIGN INVESTMENTS AND TRADE No change in custom duty, excise duty reduced and EXIM policy modified Custom duty on two-wheelers has remained unchanged at 10.3 per cent from last few years. However, in the recent Interim Union Budget 2014-15, excise duty on twowheelers was reduced by 4 per cent from 12 per cent in 2013-14 to 8 per cent. Also, CKD definition changed in the Union Budget 2012-13 continued to affect only premium bike category which are priced above Rs 1 lakh. Various measures has been taken under new EXIM policy to in order to promote exports. Investment policy The Auto Policy (formulated in 2002) allows 100 per cent foreign direct investment (FDI) in the automobile industry through the automatic approval route. (The policy is in line with the commitments made by India to the WTO). Minimum capitalisation requirements have been abolished, in line with India's commitments to the World Trade Organisation (WTO). International companies can invest in India either by picking up a 100 per cent equity stake or by acquiring a share jointly with a domestic company, in the auto and auto ancillary segments. The policy aims to promote a globallycompetitive auto industry in India and develop the country as an international centre for sourcing auto components for manufacturing small cars, tractors and two-wheelers. Removal of quantitative restrictions In order to comply with the WTO agreement, quantitative restrictions on the import of new and used two-wheelers have been...
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...Hospitality and Tourism Management University of Surrey 2014 Table of Contents List of tables and figures 4 Acknowledgements 5 List of Abbreviations 6 Section A. Organisation evaluation 8 The Executive Summary 8 The Placement Overview 9 1. The Evaluation of the EP’s activities 10 1.1 The EP format 11 1.2 The History of the EP 11 1.3 Geographical Locations and Facilities 12 2. The People 16 2.1 Visions and Strategies 16 2.2 Institutional structure and management 16 2.2.1 External structure 16 2.2.2 Internal Structure 17 2.3 Management of the EP 21 2.3.1 EP’s Political management 21 2.3.2 EP’s Organisational management 22 2.3.3 EP’s Communication Management 23 2.4 Staffing, recruiting and training 24 2.4.1 Staffing 24 2.4.2 Recruiting 27 2.4.3 Training 27 3. The Numbers 27 3.1 Strict rules for efficient and transparent budget implementation 32 3.1.1 Separation of functions 32 3.1.2 Use of standard documents 32 3.2 Controls of the budgetary procedure 32 3.2.1 Internal controls 33 3.2.2 Internal audits 33 3.2.3 External controls 33 4. Evaluation and conclusion 34 4.1 SWOT analysis 34 4.2 Conclusions 35 Section B. Personal and professional development 36 1. Getting a Placement 36 2. Placement year objectives 37 3. Placement experiences 38 References 40 Appendices 43 List of tables and figures Figure 1. EP Locations Source: BBC.com (2014) 9 Figure 2. EU Coverage Source: EP Visits and seminar...
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...tBeautiful, but Bold? Zeenat Jadwet, TY B, 3105 After winning an overwhelming majority on its own, the BJP has, in its first two policy statements—the railway budget and the Union budget—unambiguously initiated a recalibration of the government’s ideology towards the right. Clearly this is a government, emboldened, no doubt, by its 282 seats, yet many question how much of this was divulged in the highly anticipated budget. Principle of continuity was seemingly chosen over political consideration, causing many a people to question the intentions of Mr. Jaitley and the Modi Government. Reconciliation with a flawed inheritance, is what Is evident by the budget, leaving expectations of path breaking reforms, or “Modification”, postponed if not shattered. This said, the budget does very successfully incorporate small, viable steps aimed at curing long standing issues of deficit, investor skepticism and inflation. Faced with a near-empty treasury and massive outstanding obligations, Mr. Jaitley had very little room to maneuver. It was either quoting a more realistic fiscal deficit, thereby corroding investor confidence or accepting the rather wishful goal of Mr. P. Chidambaram of 4.1% for 2014-15, which he invariably did. This though is based on the premise of growth in the coming months. Accepting that full disclosure would leave a scar on the rather upbeat mood, subjecting the ‘Ache din’ promise to mockery the Jaitley-Modi duo stuck to the UPA II guidelines. If the...
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...Table of Contents Budget 1 Railway Budget 2014-15 1 Union Budget 2014-15 2 Budget Railway Budget 2014-15 The Union Railway Budget for 2014-15 was presented by Mr D V Sadananda Gowda, Union Minister for Railways, Government of India, on July 8, 2014. Budget Highlights: Railways hope to achieve total receipts of Rs 1,64,374 crore and would peg total expenditure at Rs. 1,49,176 crore," he said. Earnings from Freight Traffic are estimated at Rs 1,05,770 crore and from Passenger Traffic Rs 44,645 crore, Indian Railways earned approximately Rs. 1,40,485.02 crores in fiscal 2013-14, as compared to Rs. 1,21,831.65 crores in fiscal 2012-13. Total goods earnings were Rs. 94925.02 crores in fiscal 2013-14, as compared to Rs. 82852.54 crores in fiscal 2012-13. It had a net income of 10,400 crore in 2013-13 and * Railways will play a role in building a dynamic India * Target to make India the largest freight carrier of the world * Highest-ever plan outlay of Rs 65,445 crore (US$ 10.95 billion) with budgetary support of Rs 30,100 crore (US$ 5.03 billion) * Leveraging of Railway PSU resources by bringing in their investible surplus funds in infrastructure projects of the Railways * 58 new trains .5 new Jansadharan trains, 5 Premium and 6 AC trains, 27 new Express trains, 8 new passenger services, 5 DEMU services and 2 MEMU services to be introduced and run of 11 trains to be extended * Bullet train proposed on identified Mumbai–Ahmedabad sector ...
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...San Luis Obispo County: Human Resources in Government Shelby Cowell Robert Griffith Bernard Salgado GSB 583: Managing Human Resources Instructor: Calvin Stevens California Polytechnic State University Part I The Organization and its Mission San Luis Obispo County was one of the first counties in California, created in February 1850 as residents were preparing for California’s statehood (CSAC). It was created to govern the coastal region between Salinas Valley and the Santa Maria River, writing, implementing, and enforcing local laws and regulations for this region to ease the burden of work on the California state government. The county’s residents elect a Board of Supervisors that has authority to pass laws, and the Board entrusts a County Administrator to oversee the 24 departments, organized into six functional groups, that administer the county’s governance on a day-to-day basis (SLO County). The County government has a decentralized structure, according to Tami Douglas-Schatz, the County’s Director of Human Resources. She says the Board and Administrative Office handle overarching policy, but day-to-day operational matters are handled by the departments themselves. When it comes to organizational planning, the Human Resources is “the architect of systems” (Douglas-Schatz), with final say over what structure the organization will have. The County’s relationship with the California state government and U.S. federal government is very impersonal. These higher-ranking...
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...main theories about European construction 5 6. European Economic Community (EEC) 1958-1985 6 7. The customs union 6 8. Policy coordination & harmonization 6 9. Common policies: 3 areas. 6 10. Permanent, single institutions are created 7 11. European social policy & investments 7 12. Surveillance of EU policies 7 13. Stagnation and euro-pessimism (1973-1985) 7 14. European leaders stop using The Luxembourg compromise. 7 15. What does it show? 7 16. Single European act 8 VI. Furthering European integration 8 17. Customs union without harmonization of norms & standards 8 VII. Maastricht treaty 8 VIII. The EU 4 freedoms 9 18. Free movement of goods 9 19. Free movement of persons 9 IX. Theory and practice of integration 10 20. Political view and gradual political process 10 21. international political developments push Europeans to reinforce cooperation 10 X. The different stages of economic union 12 XI. Treaty of Nice 12 XII. The council of European Union 12 22. Responsibilities 13 XIII. European parliament 13 XIV. Council of Europe 13 XV. Decision making in the EU 18 XVII. Bibliography 19 European union The main facts about the UE and its citizen What is the European Union? Unique and most-advanced economic and political integration in the world Oldest economic union between sovereign states of different languages & culture Integration through institutional and market...
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...UK Membership of the European Union The case for British exit from the European Union 1. Free trade * Britain could have the opportunity to negotiate new free trade agreements with major EU trade partners and fast-growing emerging countries such as the BRICs, MINTs and Sub Saharan Africa * Britain would benefit from freeing itself from many of the EU's complex and expensive laws & regulations 2. Budget savings * Leaving the EU would cut our contributions to the EU budget - a UK fiscal windfall * Food prices would possibly be lower if we left the Common Agricultural Policy (CAP) 3. Exports * The UK is Europe's biggest export market. So Europe needs the UK as a trade partner for both to be successful in the long term 4. Economic policy autonomy * The UK would retain greater control over fiscal and monetary policy and also gain more freedom over labour market, competition and environmental policies Some arguments – The case for staying within the EU single market 1. Free trade * Risk of losing trade benefits of being inside single market, lower per capita GDP * Attractiveness of the UK as a destination for FDI would be diminished * Adopting a position similar to Norway (which is outside of the EU) would mean the UK accepting many EU rules without having a say in their formulation 2. Market Access * UK will lose tariff-free access to its largest export market * London would no longer be the EU's...
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...Course Project Paper Part I Project – State-of-the-art student union DeVry University / Keller Graduate School of Management PROJ-595-63126: Project Risk Management March 25th, 2016 Professor: Dr. Jayaram Madireddy Contents 1. Introduction 3 2. Risk Managment 4 3. RISK ACCESSMENT…….……………………………………………………..10 4. Conclusion 12 5. References 13 1. Introduction “This project is to introduce a new construction facility to house a state-of-the-art student union for MSOE, focusing on sustainability, green technologies, and renewable energy”. The Campus Center, or “CC” at Milwaukee School of Engineering (MSOE) is currently home to the student bookstore, administrative offices, a small café, a variety of classrooms for different disciplines, and a third-floor lounge area for students to gather to study or relax (Milwaukee School of Engineering, 2016). This aging building has served MSOE well for many years, but the growing school requires a proper student union to remain competitive with other top ranked schools in the Midwest. This project will provide a new construction facility to house a state-of-the-art student union for MSOE, focusing on sustainability, green technologies, and renewable energy sources to showcase the commitment of MSOE to the future health and well being of the Milwaukee area. 2. Risk Management Planning When analyzing the risks that takes place during the project planning phase. what is...
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...------------------------------------------------- Government budget A government budget is a government document presenting the government's proposed revenues and spending for a financial year that is often passed by the legislature, approved by the chief executive or president and presented by the Finance Minister to the nation. The budget is also known as the Annual Financial Statement of the country. This document estimates the anticipated government revenues and government expenditures for the ensuing (current) financial year.[1] For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for municipal and county revenues, while sales taxand/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues. ------------------------------------------------- History[edit] The financial crisis caused by the South Sea Bubble led to the presentation of the government budget under Sir Robert Walpole. Painting by Edward Matthew Ward. The practice of presenting budgets and fiscal policy to parliament was initiated by Sir Robert Walpole in his position as Chancellor of the Exchequer, in an attempt to restore the confidence of the public after the chaos unleashed by the collapse of the South Sea Bubble in 1720.[2] Thirteen years later, Walpole announced his fiscal plans to bring in an excise tax on the consumption of a variety of goods, such as wine and tobacco, and to lessen...
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...HIS/110 August 18th, 2014 Thomas Ward Civil War Shelby Foote’s passage means that the Civil War paved a path for the United States and what we have become. The events that occurred during the civil war proved that the United States would allow all men to be created equal. The Civil War shows the pain and suffering that some Americans went through to fight for freedom and what they thought was right. The Civil War was a major battle that helped push to the end of slavery. The Civil War brought the country together, we live as one country and not individual states. The Civil War is what made the United States into what it was. The Civil War made the United States into an indivisible nation with a sovereign national government. The Civil War also paved the way for all men to be created with an equal right to liberty. For the first time, the federal government started to tax a person's income. This came to light as an effort to pay for the cost of war. The federal government ended wildcat banking and consolidated the nation's money supply. The federal governments budget was also expanded to over one billion dollars (Schultz, 2014). Congress passed the Homestead Act in order to stimulate growth in the west. This Act offered 160 acres of free land to anyone including slaves to anyone that never took up arms against the federal government. The federal government also gave 100 million acres to the Union Pacific and Central Pacific railroad (Schultz, 2014). The Civil War paved...
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...Raising Minimum Wage Intermediate Microeconomics In the 2014 State of the Union address, President Obama called on Congress to raise the minimum wage from $7.25 to $10.10 per hour (The White House, n.d.). Many arguments stand both for and against the $2.85 per hour raise, all of which cite the affects it may have on employer costs, household income, and the economy as a whole. The majority of the arguments, however, point toward the major economic benefits that are capable if such a raise occurs. The federal government put into place a minimum wage in 1938. Nominal minimum wage values have increased intermittently ever since, starting at $0.25/hr, growing until it reached its current $7.25/hr. It has increased the most recently in three $0.70 increments, from $5.15 to $5.85 in July 2007, to $6.55 in July 2008, and to $7.25 in July 2009, where it has stayed for the past six years. In more recent years, various cities and states have made their own decisions to raise their minimum wages. For example, in 2015, San Francisco raised its minimum wage to $12.25 per hour, with plans to raise it further, to $15 per hour in 2018. In 2016, California will raise its state-wide minimum wage to $10 per hour, making it the highest state’s minimum wage (Smith, 2015). There are four major arguments against the raise of minimum wage – job loss, less job availability for low-skilled workers, lack of poverty reduction, and higher prices for consumers. In the Southern Economic Journal, experts...
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...Name: Course: Institution: Instructor: Date: The European sovereign debt crisis Introduction At the beginning of 2010, its emerged that the sovereign debt crisis would drastically spread through the entire European Union since Portugal, Greece, Spain, Italy and Ireland, which are jointly known as the PIIGS were in facing the significant increase in their deficit as well as public debt. The events about the crisis were closely tied to Greece since there were doubts about its ability to offset the huge sovereign debt it owed as well as government deficits. This crisis of confidence in Greece resulted in the significant downgrade of the Greek bonds into a junk status as well as the Greek bond yield spreads notably rose (Brutti and Sauré, 2016). The financial unrest gradually spread to the entire European Union zone and the European stocks tumbled, and the euro currency reached 2-year lows. Nonetheless, Greece was not the only stressed economy in The Euro Zone, in fact, it turned out to be a tip of the iceberg since other nations in the European Union were trailing on the Same road. Spain, Italy, Portugal and Ireland had accumulated huge budget deficits as well as increased public debt to the Gross Domestic product ratios. Portugal had an economic boom that was being sustained by the significantly lower borrowing rates. Nevertheless, it was hit by expeditious wage inflation which adversely affected the local companies’ competition with other foreign firms (CAI and LI, 2012). The sovereign...
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...Top Questions from Union Budget 2015-16 Union Finance Minister Arun Jaitley presented the Union Budget for 2015-16 on 28 February 2015. This was the first full budget of the NDA government led by Prime Minister Narendra Modi. Following are the important questions coming out of the proposals coming out of this Budget. [pic] 1) What is the name of the proposed micro and SME development finance unit that was announced in the Budget? – MUDRA Bank [pic] 2) How much allocation has been made for the proposed MUDRA Bank, which has been proposed for giving boost to micro and SME sectors? – Rs. 20,000 crore [pic] 3) Which regulator is proposed to be merged with the SEBI as announced in this budget? – Forward Markets Commission – FMC (FMC is the regulator of the commodities market in India) [pic] 4) The service tax has been hiked from present 12.36% to – 14% [pic] 5) 100% tax deduction has been allowed for contribution to which two important central govt. schemes in this budget? – Swachh Bharat Fund and Namami Gange Fund [pic] 6) Which tax has been abolished with a cess in this budget? – Wealth Tax (It has been replaced with a 2% cess on super rich individuals. The super rich individuals are those with an annual income of over Rs. 1 crore) [pic] 7) The establishment of a new film production centre (Centre for Film Production and Animation) in which Northeastern state has been proposed in the budget? – Arunachal Pradesh [pic] 8) What is the name of the new scheme to empower...
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