Wednesday, March 17, 2010
Budget 2010-11
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| - | Fiscal deficit pegged at 5.5% of GDP |
| - | I-T dept to notify simple two-page Saral 2 form for individuals for current year |
| - | Personal income tax: Nil for income up to Rs 1.6 lakh, 10% for income bet Rs 1.6 -5 lakh |
| - | Personal income tax: Income between 5-8 lakh: Tax at 20% |
| - | Personal income tax: Above Rs 8 lakh, tax at 30% |
| - | Professionals with Rs 15 lakh income need account audit |
| - | Partial rollback of excise duty relief on large cars |
| - | To provide subsidy in cash instead of bonds for fertiliser, oil |
| - | Customs duty on gold, platinum imports raised to Rs 300 from Rs 200 |
| - | Service tax to GDP ratio is 1% |
| - | Net revenue gain of Rs 43,500 cr from customs, excise proposal |
| - | Direct tax proposals result in Rs 26,000 cr loss; indirect tax yield Rs 45,000 cr gain |
| - | News agencies exempt from service tax |
| - | Some services hitherto not taxed would be brought under the purview of new Service Tax |
| - | Service Tax rates unchanged at 10% |
| - | No import duty on some equipment in road projects |
| - | Cut in duty for photovoltaic units |
| - | External commercial borrowing will be available for food storage industries |
| - | Clean energy cess on domestic, imported coal |
| - | Peak customs duty remains unchanged at 10% |
| - | Central excise on LED lights halved to 4% |
| - | Agricultural seeds exempt from service tax |
| - | Full excise cut on electric cars |
| - | For solar mission, solar power generating units rates are to be reduced by 5% |
| - | Cut on personal tax rates means saving of Rs 50,000 for income up to Rs 8 lakh |
| - | Partial rollback of excise duty relief on large cars |
| - | Peak excise duty hiked from 8% to 10% |
| - | Market borrowing were up to 3,45,000 cr. Enough to meet credit need of private sector |
| - | Duties on smoking and non-smoking tobacco products up |
| - | Excise duty on large cars, SUVs, multi utility vehicles hiked |
| - | Petroleum products: basic excise duty of 5% crude, 7.5% on diesel & petrol; 10% on other products |
| - | Structural changes in excise duties of tobacco, propose to extend excise duty |
| - | Revenue loss of Rs 26,000 cr on a/c of direct tax proposals |
| - | Surcharge for companies reduced to 7.5% |
| - | Due to direct taxes, result in a revenue loss of Rs 26,000 cr |
| - | Threshold limit for TDS applicability to be rationalised |
| - | Extended scope of presumptive taxes up to Rs 40 lac |
| - | Real estate sector now gets 5 years for completion instead of 4 years before |
| - | To boost tourism investment, offers investment linked tax deductions |
| - | Addl Rs20,000 deduction available for investment in infra bonds |
| - | Reduces current surcharge of 10% on domestic comp to 7.5% |
| - | Automation of excise, service tax already rolled out |
| - | FY11 market borrowing pegged at Rs 3.45 lakh cr |
| - | Govt to set up apex level Financial Stability and Development Council |
| - | FY13 fiscal deficit seen at 4.1% |
| - | Fiscal deficit seen at 4.8% in FY12 |
| - | Allocates Rs 1,900 cr for UID project |
| - | Planned expenditure up 15% over 2009-10 |
| - | Increase in non-planned exp up only 6% |
| - | Total exp proposed up 8.7% over 2009-10, to Rs 11 lakh cr |
| - | Taskforce to counter problems in Maoist affected areas. Adequate funds will be allocated |
| - | Allocation to Defence over Rs 147,000 crore |
| - | Technology advisory group to be set up under Nandan Nilekani |
| - | Smart card extended to NREGA |
| - | RBI to dole out more banking licences: Pranab |
| - | Sign language training centre for hearing impaired |
| - | Rs 4,500 cr for program of social justice, sr citizens, backward classes, handicapped |
| - | Rs 100 cr allocated for women farmers |
| - | Exclusive skill dev prog in textile and garment sector |
| - | Rs 48,000 cr for Bharat Nirman plan |
| - | Asks state govt to contribute for social security to workers in unorganised sector |
| - | Infra stocks spurt on higher allocation |
| - | To allocate Rs 22,300 cr to Health Ministry |
| - | Allocates Rs 100 cr for new pension scheme, to benefit 100,000 low income citizens |
| - | Khadi institutes get Rs 400 cr |
| - | GOI sign $150 mn deal with ADB for implementing Khadi programme |
| - | Rajiv Awas Yojana now ready' gets Rs 1,270 cr for FY11 |
| - | Rs 7300cr in 2011 for backward sections |
| - | GST, Direct Taxes Code from April 2011 |
| - | Housing loan: 1% interest subvention scheme extended, allocation Rs 700 cr |
| - | Urban dev allocation up more than 75% to Rs 5400 cr |
| - | Allocates Rs 1,200 cr for drought mitigation |
| - | Indira Awas Yojana: allocation up by Rs 10,000 cr |
| - | NMDC, SVJN stake sale to fetch Rs 25,000 cr in FY10 |
| - | NREGS gets Rs 40,100 cr in FY11 |
| - | Rs66,1000 cr allocateds for rural development in FY11 |
| - | IIFCL disbursements at Rs 9000 cr by March 2010 |
| - | School education outlay for FY11 at Rs 31,000 cr |
| - | States to get Rs 3,675 cr for primary education at rural level |
| - | To set up coal regulatory authority |
| - | Spending on social sector at Rs 137,000 cr |
| - | Rs 25,000 cr allocated to develop rural infrastructure |
| - | Growth to exceed 7.2% in this fiscal |
| - | Final FY10 GDP figure maybe higher than estimate of 7.2% |
| - | To set up National clean energy fund |
| - | Plan outlay for Renewable energy ministry up 61% |
| - | Power allocation doubles to Rs 5,100 cr |
| - | To set up 5 more mega food park projects |
| - | Allocation for road tansport Rs 19,894 cr |
| - | Farm loan repayment extended by 6 months |
| - | ECB to be available for cold storage |
| - | To provide Rs 400 cr to boost farm output in eastern India |
| - | Timely repayment of crop loans: subvention raised from 1% to 2% |
| - | Govt is committed to growth of SEZ to promote exports |
| - | Proposes allocation of Rs 200 cr for climate-resilient agricultural program |
| - | Extend 2% interest subvention for exports for another year |
| - | FY11 capital for PSU banks at Rs 16,500 cr |
| - | Extends interest subvention of 2% for handloom, handicrafts for 1 more yr |
| - | Propose new bill to address problems in corpoate sectors |
| - | Will augment assistance to RRBs to strengthen rural sector |
| - | RBI may give license to some more private sector players and NBFCs |
| - | Rs 1,900 cr addl capital in four PSU banks |
| - | Ownership and control clearly defined in FDI policy |
| - | To discuss Kirit Parikh report in due course |
| - | Subsidy for fertiliser sector to increase farm productivity |
| - | Govt to raise Rs 25,000 cr this year to meet cap expenditure requirements |
| - | GST and DTC can be introduced in April 2011 |
| - | Steps to reduce public debt, paper to be presented in 6 months |
| - | Signs of food inflation going to non-food items |
| - | Need to review stimulus, move to fiscal consolidation |
| - | Double digit food inflation in 2009 |
| - | Export figures encouraging; pvt investments can be expected |
| - | Concerned over emergence of double digit food inflation |
| - | 18.9% growth rate in manufacturing sector in 2009 |
| - | Final figure may be higher if earnings in last quarters are strong |
| - | Need to make recovery |
| - | Growth slows down to 6% in Q3 vs 7.9% in Q2 this fiscal |
| - | Focus shifts to non-governmental actors |
| - | 3rd challenge: relates to problems in government system |
| - | 2nd challnge: harden economic growth to make dev more inclusive |
| - | 1st challenge: quickly revert to higher GDP growth path of 9%, cross double digit growth |
| - | Economy is in a better position than a year ago, however, challenges remain |
| - | Uncertainity was there on account of delay in monsoon, concerns about production and food prices |
| - | Pranab Mukherjee starts announcing Union Budget |
| - | Bond yields steady ahead of Budget |
This post was written by: Senthamaraikannan
Senthamaraikannan is a professional blogger, web designer and front end web developer. Follow him on Twitter
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