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What are the highlights of India's Union Budget 2016-17 presented on 29-Feb-16?

Affirming that the economy is right on track, Finance Minister ArunJaitley presented the Union Budget for 2016-17. Citing that the CPIinflation has come down to 5.4% from 9 plus, he said it is huge relieffor the public.TaxInfrastructure and agriculture cess to be levied.Excise duty raised from 10 to 15 per cent on tobacco products other than beedis1 per cent service charge on purchase of luxury cars over Rs. 10 lakhand in-cash purchase of goods and services over Rs. 2 lakh.SUVs, Luxury cars to be more expensive. 4% high capacity tax for SUVs.Companies with revenue less than Rs 5 crore to be taxed at 29% plus surchargeLimited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penaltiesExcise 1 per cent imposed on articles of jewellery, excluding silver.0.5 per cent Krishi Kalyan Cess to be levied on all services.Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 percent on diesel cars of certain specifications; 4 per cent on higher-endmodels.Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent.Personal FinanceNo changes have been made to existing income tax slabsRs 1,000 crore allocated for new EPF (Employees' Provident Fund) schemeGovt. will pay EPF contribution of 8.33% for all new employees for first three yearsDeduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.Service tax exempted for housing construction of houses less than 60 sq. m15 per cent surcharge on income above Rs. 1 croreSocialRs. 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17Swacch Bharat Abhiyan allocated Rs.9,500 crores.Hub to support SC/ST entrpreneursGovernment is launching a new initiative to provide cooking gas to BPL families with state support.LPG connections to be provided under the name of women members of family: Rs 2000 crore allocated for 5 years for BPL families.2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of 228%.300 urban clusters to be set up under Shyama Prasad Mukherji Rurban MissionFour schemes for animal welfare.Health2.2 lakh renal patients added every year in India. Basic dialysis equipment gets some relief.A new health protection scheme for health cover upto 1 lakh per family.National Dialysis Service Prog with funds thru PPP mode to provide dialysis at all district hospitals.Senior citizens will get additional healthcare cover of Rs 30,000 under the new schemePM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be openedEducationScheme to get Rs.500 cr for promoting entrepreneurship among SC/ST10 public and 10 private educational institutions to be made world-class.Digital repository for all school leaving certificates and diplomas. Rs. 1,000 crore for higher education financing.Rs. 1,700 crore for 1500 multi-skill development centres.62 new navodaya vidyalayas to provide quality educationDigital literacy scheme to be launched to cover 6 crore additional rural householdsEntrepreneurship training to be provided across schools, colleges and massive online courses.Objective to skill 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojna-FM JaitleyNational Skill Development Mission has imparted training to 76 lakh youth. 1500 Multi-skill training institutes to be set up.EnergyRs. 3000 crore earmarked for nuclear power generationGovt drawing comprehensive plan to be implemented in next 15-20 years for exploiting nuclear energyGovt to provide incentive for deepwater gas explorationDeepwater gas new disc to get calibrated market freedom, pre-determined ceiling price based on landed price of alternate fuels.Investments and infrastructureRs. 27,000 crore to be spent on roadways65 eligible habitats to be connected via 2.23 lakh kms of road. Current construction pace is 100 kms/dayShops to be given option to remain open all seven days in a week across markets.Rs. 55,000 crore for roads and highways. Total allocation for road construction, including PMGSY, - Rs 97,000 croreIndia's highest-ever production of motor vehicles was recorded in 2015Total outlay for infrastructure in Budget 2016 now stands at Rs. 2,21,246 croreNew greenfield ports to be developed on east and west coastsRevival of underserved airports. Centre to Partner with States to revive small airports for regional connectivity100 per cent FDI in marketing of food products produced and marketed in IndiaDept. of Disinvestment to be renamed as Dept. of Investment and Public Asset ManagementGovt will amend Motor Vehicle Act in passenger vehicle segment to allow innovation.MAT will be applicable for startups that qualify for 100 per cent tax exemptionDirect tax proposals result in revenue loss of Rs.1060 crore, indirect tax proposals result in gain of Rs.20,670 croreAgricultureTotal allocation for agriculture and farmer welfare at Rs 35984 crores28.5 lakh heactares of land wil be brought under irrigation.5 lakh acres to be brought under organic farming over a three year periodRs 60,000 crore for recharging of ground water recharging as there isurgent need to focus on drought hit areas cluster development for waterconservation.Dedicated irrigation fund in NABARD of Rs.20.000 crNominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna.BankingBanks get a big boost: Rs 25,000 crore towards recapitalisation ofpublic sector banks. Jaitley says: Banking Board Bureau will beoperationalised, we stand solidly behind public sector banks.Target of disbursement under MUDRA increased to 1,80,000 croreProcess of transfer of government stake in IDBI Bank below 50% startedGeneral Insurance companies will be listed in the stock exchangeGovt to increase ATMs, micro-ATMs in post offices in next three yearsSource: Highlights of Union Budget 2016-17

What are the main highlights of budget 2016?

Budget 2016 Highlights:TaxInfrastructure and agriculture cess to be levied.Excise duty raised from 10 to 15 per cent on tobacco products other than beedis1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh.SUVs, Luxury cars to be more expensive. 4% high capacity tax for SUVs.Companies with revenue less than Rs 5 crore to be taxed at 29% plus surchargeLimited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penaltiesExcise 1 per cent imposed on articles of jewellery, excluding silver.0.5 per cent Krishi Kalyan Cess to be levied on all services.Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher-end models.Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent.Personal FinanceNo changes have been made to existing income tax slabsRs 1,000 crore allocated for new EPF (Employees' Provident Fund) schemeGovt. will pay EPF contribution of 8.33% for all new employees for first three yearsDeduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses.Additional exemption of Rs. 50,000 for housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh.Service tax exempted for housing construction of houses less than 60 sq. m15 per cent surcharge on income above Rs. 1 croreSocialRs. 38,500 crore for Mahtma Gandhi MGNREGA for 2016-17Swacch Bharat Abhiyan allocated Rs.9,500 crores.Hub to support SC/ST entrpreneursGovernment is launching a new initiative to provide cooking gas to BPL families with state support.LPG connections to be provided under the name of women members of family: Rs 2000 crore allocated for 5 years for BPL families.2.87 lakh crore grants to gram panchayats and municipalities - a quantum jump of 228%.300 urban clusters to be set up under Shyama Prasad Mukherji Rurban MissionFour schemes for animal welfare.Health2.2 lakh renal patients added every year in India. Basic dialysis equipment gets some relief.A new health protection scheme for health cover upto 1 lakh per family.National Dialysis Service Prog with funds thru PPP mode to provide dialysis at all district hospitals.Senior citizens will get additional healthcare cover of Rs 30,000 under the new schemePM Jan Aushadhi Yojana to be strengthened, 300 generic drug store to be openedEducationScheme to get Rs.500 cr for promoting entrepreneurship among SC/ST10 public and 10 private educational institutions to be made world-class.Digital repository for all school leaving certificates and diplomas. Rs. 1,000 crore for higher education financing.Rs. 1,700 crore for 1500 multi-skill development centres.62 new navodaya vidyalayas to provide quality educationDigital literacy scheme to be launched to cover 6 crore additional rural householdsEntrepreneurship training to be provided across schools, colleges and massive online courses.Objective to skill 1 crore youth in the next 3 years under the PM Kaushal Vikas Yojna-FM JaitleyNational Skill Development Mission has imparted training to 76 lakh youth. 1500 Multi-skill training institutes to be set up.EnergyRs. 3000 crore earmarked for nuclear power generationGovt drawing comprehensive plan to be implemented in next 15-20 years for exploiting nuclear energyGovt to provide incentive for deepwater gas explorationDeepwater gas new disc to get calibrated market freedom, pre-determined ceiling price based on landed price of alternate fuels.Investments and infrastructureRs. 27,000 crore to be spent on roadways65 eligible habitats to be connected via 2.23 lakh kms of road. Current construction pace is 100 kms/dayShops to be given option to remain open all seven days in a week across markets.Rs. 55,000 crore for roads and highways. Total allocation for road construction, including PMGSY, - Rs 97,000 croreIndia's highest-ever production of motor vehicles was recorded in 2015Total outlay for infrastructure in Budget 2016 now stands at Rs. 2,21,246 croreNew greenfield ports to be developed on east and west coastsRevival of underserved airports. Centre to Partner with States to revive small airports for regional connectivity100 per cent FDI in marketing of food products produced and marketed in IndiaDept. of Disinvestment to be renamed as Dept. of Investment and Public Asset ManagementGovt will amend Motor Vehicle Act in passenger vehicle segment to allow innovation.MAT will be applicable for startups that qualify for 100 per cent tax exemptionDirect tax proposals result in revenue loss of Rs.1060 crore, indirect tax proposals result in gain of Rs.20,670 croreAgricultureTotal allocation for agriculture and farmer welfare at Rs 35984 crores28.5 lakh heactares of land wil be brought under irrigation.5 lakh acres to be brought under organic farming over a three year periodRs 60,000 crore for recharging of ground water recharging as there is urgent need to focus on drought hit areas cluster development for water conservation.Dedicated irrigation fund in NABARD of Rs.20.000 crNominal premium and highest ever compensation in case of crop loss under the PM Fasal Bima Yojna.BankingBanks get a big boost: Rs 25,000 crore towards recapitalisation of public sector banks. Jaitley says: Banking Board Bureau will be operationalised, we stand solidly behind public sector banks.Target of disbursement under MUDRA increased to 1,80,000 croreProcess of transfer of government stake in IDBI Bank below 50% startedGeneral Insurance companies will be listed in the stock exchangeGovt to increase ATMs, micro-ATMs in post offices in next three yearsSource: Highlights of Union Budget 2016-17

What is the life of a marine engineer like?

Above is the Largest Moving thing ever built on planetLife of a Marine Engineer is simply Challenging. A Marine Engineer plays a vital role in Moving International Freight of Cargo around the world and in Oil and Offshore Naval Industries. Typically a Marine Engineer runs the entire Technical Department on board a Merchant Ship. Joining as a Junior Engineer, after undergoing Pre Sea Training ashore, one progresses on the path to become the Chief Engineer of a Ship.Few of the Largest Ships in the World.As the merchant shipping is the backbone of International Trade, the ships are meant to be highly advanced and Technically Sophisticated. Ships have Massive Engines and Power Generation Plant essential for propulsion and Sustenance of Ship in order to Maintain Seaworthiness.Ships have High Capacity Steam generation plants, Massive Fuel storage , heating, purification , Lubricant storage tanks, , Fresh Water Production plant and Waste Heat recovery plants , Comprssed air system, Large Pipelines across the ship. Ship’s structure, Propulsion plant, Steering Gear System, Ship’s Refredgation and Cold storage system, Sewage Treatment, monitoring & Discharge , Cargo Pumps, Ballast Pumps, Bilge pumps , Incenerator , Deck mechanery, Cranes, Anchor, Electrical System installed on the Navigation Bridge, Emergency Generator, Emergency fire pumps are few of the Major Mechanical , Electrical and shipboard installation and plants which are essential for a Ship to Run. The entire Technical Aspect of the ship to run at its maximum efficiency, is seen by Marine Engineers.Apart from that, there are typically Six engineers on a ship.C.E>2E>3E>4E>EE>JERanks and InsigniaJunior Engineer- Unlicensed Member of Engineering Department who assists senior Engineers.4th Engineer- Officer of Watch, responsible for Air Compressors, Fuel and Lubrication Oil Purifier and Auxiliary Diesel Generators.Electrical Officer- Shares Equal Rank with Fourth Engineer, responsible for Electrical Aspects of Ship.3rd Engineer- Officer of Watch, responsible for Fresh Water Generation, Sewage Discharge, Periodic Machinery Maintenance and Various Pumps. Air Conditioning and Refrigeration.2nd Engineer- Management Level Officer, responsible for Main Engine and Propulsion, Aux Boilers and Steam Generation. In-charge of Ships’ Safety Equipment , Steering Gear, Deck Cranes and Machinery, Life Boats and EnginesChief Engineer- Overall In-charge of Engine Department, shares Equal rank with the Captain and mostly paid at par with him/ her.Shipboard Organization ChartENGINE ROOM6 Cyl 2 Stroke Marine Diesel Engine, the heart of the vessel, Engineer OfficersA typical Engine Room of a Modern Cargo ShipV- type B&W Marine EngineMain propulsion plant ie the Ships Main Engine,Diesel Generators for Power generation, Boilers for steam Generation, Fresh Water Generator, Electrical Equipment, Various Motors and Machinery are located in Engine Room.•Periodic MaintenanceThe Environment is generally hot and noisy inside the Engine room. The temperature may even rise as high as 55 Degrees Celsius. However they don’t generally spend more time down there apart from Scheduled Maintaince which is generally done while ship is in Port. Marine Engineers make regular inspections and carry out any repair and maintenance according to the schedule. They ensure safe running of all machines and follow all safety measures to avoid any Marine Pollution to comply with strict International Regulations.Carrying out routine Maintainance. Removal of Engine Piston.Fixing the Cylinder head on the Main propulsion engineRoutine Inspection, as the noisyEngine room demands visual inspection, should the automation renders unreliable, practical experience is what highly demanded in a Marine Engineer. All safety procedures to be followed .••Watch keeping, Operation of the Vessel’s Propulsion & Control SystemEngine Control RoomThe deck below the main deck is specially designed for the housing of Engine Control Room aka ECR . It is an integraded Air Conditioned Space which serves as the Master Controller of all the Machinery, Equipments and installations from a remote place.It is the Exclusive Platform of operation on entire vessel apart from Navigation.Engine Control Room of a Cruise LinerDay watch 4/ 4 hrs in rotation in Ships not having Unmanned Engine Room and the ships which are UMS (Unattended Machinery Space) have normal Day Work for Engineer officers and All Engineers go to sleep at night. It is so because the Advanced Automation in Marine Installations keep track of all Parameters essentials for safe Propulsion. It also ensures efficient powerful generation and Steering Gear functioning and send Alerts whenever required. The officers need to respond accordingly in case of emergencies and Control Room not to be left unattended when Maneovering the ship through narrow channels and harbours. In short a Marine Engineer follows the Maritime regulation and is always on at call.Engine Control Room of a Merchant ShipAnalysis of Several ParametersECR Maneovering Console and Telegraph ( Used generally while trying out Engine at open sea, during Emergency Maneovering or Auto pilot failure and Reversing the Vessel or Controlling Propeller Blades’ Pitch)ECR 360′All Machinery Parameters, Conditions and Main Engine Propulsion and Communication between the Navigation bridge are controlled remotely from the Engine Control Room. The Engineers stand on Watch during the day in advanced Unmanned Ships.Chief Engineer{ Holder of Class I Certificate of a competency issued by Ministry of Shipping & Surface Transport, Govt of Respective Countries]The Chief Engineer is the Technical Head of the Vessel. He/she oversees Engineers and Engine Crew. All Engineers report to him /her as per his/her standing orders. Being a technical advisor of the Captain, a Chief Engineer shares Equal rank with Captain/Master & maintains communication with Shore and Head Office.It is important for the C/E to make periodic inspections in Engine Room, Pump room, ECR, Bridge, Deck, Steering Flat etc and be aware of all the technical issues affecting the safety of Life, Cargo and Ship. The Chief Engineer, apart from that, is responsible for Day to Day Propulsion System, Technical Requirements, Fire Safety, Environment and Pollution prevention and Economic and Safe Running of The Vessel.Sign InThe process of Joining The Vessel by Seafarers is termed Sign inThis day / Sign In day is the day when a Mariner starts his/her first day of Contract for said period. Home to Ship expenses are borne by Employer.Sign in BaggageLife On-Board a ShipApart from Machinery operation, watch keeping and periodic maintenance, marine engineers spend time in leisures like sports, games, entertainment and fitness activities. The food served on-board is good and healthy, one finds plenty of time to relax. Watching sunset, music, photography, fishing and playing sports are major activities one generally does while in a ship.Shipboard ActivitiesEmergency DrillsGamesPhotographyDrinking ( Non -Alcoholic)Playing with high seaSwimming overboardWatching Nature and Ships nearbyEnjoy delicious cusines made by Expert ChefsPlaying rigorous sports onboard. In addition to it, Body and fittness feak seafarers trickle sweat hard in ships Gym.Watch Hidden gems of OceanDramatic and lovelyDolphinsMysterious FishRainbowSail through many mysterious placesShip in Sea- In Merchant Shipping , time is very important. The cargo has to reach in time. The Communication between Navigation Bridge and Engine Control Room is necessary for maneuvering of vessel. The Entire controlrests with Engineers if any breakdown of Control Devices occurs at Bridge. The testing of steering gear is mandatory for a vessel’s navigation.The machinery has to be attended if required. Good fix is always observed essential for safe propulsion. The weather is another big thing which affect the ship in sea, the people on-board must be fit enough to withstand harsh conditions. All Environmental policies and Oil Pollution regulations must be strictly followed. While the ship is in sea, deep experience, hands on practice and under pinning knowledge is necessary to overcome all unwanted situation. Decision making ability and quick action is sought in every Marine Engineer. Fire and Explosion risk is always high, to minimize such risks , one must be well trained and competent.Taking Bunkers ( Refueling )Emergency Maneuvering OperationShips CrewA young OfficerFishingDubai City skylike from ShipShip at AnchorageAn Ice Breaker stranded off the Southern Hemispheric continent of AntarticaIn High risk Zones, Piracy or War zone, specially trained Seafarers for Ships’ safety and personal security employed so that minimise Piracy Threats. It is worth notable that Merchant Navy is 2nd line of defence.Frozen ship in Kamachatka Peninsula, RussiaShip at PortWhile the ship is at port, additional repairs, maintenance and inspection is carried out to satisfy port authorities. Bunkering may be done on port which requires prime safety. Engine Stores inventory and spares are ordered as per demand. Cargo Operation must go smoothly and Power Generation is observed all the times.A fourth EngineerCrossing The Golden Gate Bridge, San Francisco, USABeaches to relaxCities to ExploreFrom the coldestTo the the hottestMoving the World , each and every inchIn time !Ships in Real time ( Map)Shore LeaveMumbaiApart from that, one finds enough time to go out of the Seaport and explore new places. They may go for shopping and entertainment, Amusement and whatever they like or whatever special in the country they are in . Seafarers may go to Seaman club or Hotels while signing off from ship until their flight to home country.Seattle PortSign OffAfter the termination of one’s Contract, One goes back to his/her home country for shore leaves. There are few companies which pays round the year wages. However the wages are generally High as compared to Other shore Engineering disciples. One completely saves the salary because ship to home and home to ship repatriation is born by company. They are entitled to On-board insurance and also exempted from Tax liabilities. This is very crucial point as he/she stays far from home and family for long duration ranging from several week to months.Competency ExaminationsMarine Engineers have to pass Competency examinations to grow to higher rank. These Examinations are conducted by Ministry of Shipping and take most of the time one spends at land. Other than that they have to upgrade themselves regularly by doing safety and refresher courses.Below is the career flow chart of a Marine EngineerSocial LifeSince they stay a long time far from home, their social life is likely to be disturbed. However they earn long leaves and spend enough time with their family and friends . As everybody has to appear examinations at the time of promotions, most of people stay together during that time, with friends and batch mates. They are,though not much exposed to society, likely to spend time with closed friends and family members. Long sailings and contracts certainly affects seafarers but as one progresses towards higher ranks, contracts become short. They earn well and thus are able to sustain their families even if they live far from them. Most of the senior officers can keep their family onboard depending of the company policies and trading area. However most of people do not do so.A couple onboard a shipFinancial LifeMarine Engineers certainly earn more than their shore counterparts but they are supposed to manage the money wisely. A Chief Engineer on a merchant ship earns an average of $ 70,000 in year. This amount is enough for a person to fulfill his daily needs, buy personal Homes, cars and start a business ashore. They lead a wealthy life in general and have greater chances of saving more. Junior Officers are also capable of earning a handsome amount of salary. The fact is that a financially stable Marine Engineer can establish him/herself at very early age.Moments of StressApart from the luxurious point of view, a marine engineer can have own moments of stress. Continuous working hours while machinery breakdown creates emergency situation on ship. Lack of Communication with family can drain him/her mentally. Harsh Working conditions, and prolonged Exposure to Noisy and hot Engine Room conditions affect a marine engineer badly. The period of undergoing Competency Examinations is very tough.The ConclusionMarine Engineers have overall a great Life. This life is full of Challenges and Rewards. It takes a lot of patience and struggle to rise in this profession.

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