Ø Opposition walkout during budget first in history
Ø BJP lambasts Govt for fuel price hike
Ø Net gain from indirect taxes Rs 46500 Crs
Ø Direct tax relief to result in loss of Rs 26000 Crs
Ø Net revenue from tax proposals Rs 20500 Crs
Ø Pranab has exercised modernation, says PM
Ø Section 80c investment limit hiked by Rs 20000
Ø Excise duty on solar panels waived
Ø Accreditted news agencies exempted from service tax
Ø Sensex shoots up 391 pts after tax slabs announced
Ø Online news agencies to attract service tax
Ø Service Tax rates unchanged
Ø Account auditing for all income above Rs 15 lacs
Ø More services to be brought under tax net
Ø Rationalisation of customs duty on gaming software
Ø Toys exempted from excise duty, to become cheaper
Ø Jewellery to be more expensive
Ø Monorail granted project import status
Ø Excise duty on CFL halved to 4%
Ø Customs duty on Gold and Platinum hiked
Ø Televisions, Refrigerators, ACs to be costlier
Ø Mobile phones and CDs to become cheaper
Ø Peak customs duty unchanged at 10%
Ø Cement to be costlier
Ø Uproar in Parliament over hike in fuel prices
Ø Excise on all non smoking tobacco raised
Ø 7.5% duty on petrol and diesel restored
Ø 5% duty on crude petroleum restored
Ø Fuel prices likely to go up
Ø Excise duty on petrol and diesel raised to Rs 1/litre
Ø Cigarettes to be costlier
Ø Excise on large cars,SUVs, MUV raised to 22%
Ø Partial rollback in Excise Duty from 10% to 8%
Ø Excise on large cars,SUVs, MUV raised to 22%
Ø Presumptive tax limit raised to Rs 60 lacs
Ø Investment linked deduction benefit for 2 Star hotels
Ø Deduction of Rs 20000 on investment in infra bonds
Ø Weighted deduction on R&D raised to 200% from 150%
Ø No tax on Income up to Rs 1.6 lacs
Ø Current surcharge on companies reduced to 7.5%
Ø Minimum Alternate tax hiked to 18%
Ø 30% tax on income above Rs 8 lacs
Ø 20% tax on income between Rs 5 lacs to 8 lacs
Ø 10% tax on income between Rs 1.6 lacs to 5 lacs
Ø IT tax slabs broadened
Ø IT dept to notify Saral 2 form for individual tax payers
Ø IT exemption limit enhanced, surcharge withdrawn
Ø FY11 net market borrowings pegged at Rs 3.45 lac Crs
Ø 20 Kms of highway to be constructed everyday
Ø FY10 budget deficit seen at 6.9% of GDP
Ø FY12 fiscal deficit target at 4.8%
Ø FY13 fiscal deficit target at 4.1%
Ø More than 50% increase in funds for minority welfare
Ø Fiscal deficit target of 5.5% in FY11
Ø 15% rise in planned expenditure
Ø Govt to set up National Mission for delivery of justice
Ø Gross tax receipts Rs 7.46 lac Crs
Ø Rs 950 cr more for Railways
Ø Defence capex raised to Rs 60000 Crs
Ø Allocation to defence raised to Rs 1.47 lac Crs
Ø Pvt sector to meet food grain storage deficit
Ø Rs 100 Cr woman farmer fund scheme
Ø Rs 1900 Crs allocated for UID project
Ø Skill development programme for textile sector
Ø Home loans up to Rs 20 lacs to get intrest subvention of 1% up to March 11
Ø Government to contribute Rs 1000 per month for pension security
Ø Rs 5400 Crs allocated for urban development
Ø Rs 66100 Crs allocated for rural development
Ø Rs 2400 Crs allocated for MSMEs
Ø Social Security Fund to have corpus of over Rs 1000 Crs
Ø National Social Security fund for unorganised workers
Ø Intrest subvention for housing loans up to 1 lacs
Ø Rs 10,000 Crs allocated for Indira Awas Yojna
Ø Rs 1200 Crs assistance for drought in Bundelkhand
Ø Rs 48000 Crs for Bharat Nirman
Ø NREGA scheme allocation raised to Rs 41000 Crs
Ø Allocation to health Rs 22,300 Crs
Ø 25% of plan allocation for rural infrastructure
Ø Social sector spending seen at Rs 1.38 lakh Crs
Ø Allocation for school education up from Rs 26800 Crs to Rs 31036 Crs
Ø Allocation to power sector at Rs 5130 Crs
Ø Rs 200 Crs for Tamilnadu textile sector
Ø One time grant for Tirupur exports
Ø Draft food security Bill ready
Ø Clean energy fund to be established
Ø Allotment for renewable energy hiked by 61%
Ø Coal regulatory authority to be set up
Ø Road development hiked to Rs 19894 Crs
Ø Rs 1.73 lakh Crs, which is 46% of total plan outlay, reserved for infrastructure development
Ø 2% loan subsidy to farmers
Ø Farm credit targets to be increased to Rs 3.75 lakh Crs
Ø Farm loan payments to be extended for six months
Ø Interest subvention of 2% to be extended for handicrafts and SMEs
Ø Rs 300 Crs for agricultural impetus
Ø Additional Rs 1,65,000 Crs for bank re-capitalisation
Ø Intrest subvention for exports to extended for one year
Ø RBI may give banking licenses to Pvt cos and NBFCs
Ø FDI policy to be made more user-friendly
Ø Indian Rupee to get unique identity and symbol
Ø To discuss Kirit Parikh report in due course
Ø Fertiliser subsidy to be reduced
Ø Divestment target of Rs 25,000 Crs
Ø GST to be implemented from 2011
Ø Hope to implement Direct Tax Code from April 2011
Ø Calibrated exit strategy for fiscal stimulus
Ø Need to review stimulus, go back to fiscal prudence
Ø Significant private investment inflow expected to boost GDP
Ø Economy can achieve GDP growth of 10%
Ø India faces a challenge of reverting to double digit growth
Ø FY 2009-10 was a challenging year
Ø Need to improve food security and healthcare systems
Ø Indian economy in far better position than last year.
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