Amidst all the uproar and ripples that the 2016 budget has sent, there were a few indicators that pointed towards the strength of our economy and also spoke of where the government is headed in terms of development. For the youth of the nation there are clear indications that the government intends to support them.
Home to call your own
Dream House
Young people today tend to invest in homes early. First time home buyers will get a 50,000 deduction on interest for loan upto Rs. 35 lakh. This is only applicable on houses which are not more than Rs. 50 lakh. On homes not more than 60 sq. m. in size, service tax will be exempted.
Start-ups get a lift
Huge Advantage
Most startups have very young people leading them. Entrepreneurs with start-ups will get 100% tax exemption upto 3 years. MAT is exceptional, which will still stand payable.
Quit smoking, save money
Say no
Smoking is no longer the cool thing that it used to be. A raise of 15% on the excise duty for tobacco products will hopefully deter beginners! Though this hasn’t stopped smokers before, bwe cannot give up hope.
More jobs from make in India
Make in India
To welcome more manufacturing units and creating more jobs especially for the youth, all the food products manufactured and produced in India, will be granted 100% FDI.
This year’s budget talks a lot about where the Indian economy is heading. If you are young and have big dreams then this is the best time to be in India.
