Tuesday, July 7, 2009

New budget !

Dear All,

For your ref.

No new tax on edible oil imports

Excise duty on petrol diven trucks cut

No change in corporate tax

4% excise duty on cotton products restored

Custom duty on silver, excluding jewellery, hiked by Rs 500/ kh to Rs 1,000/ kg

Life saving devices on heart contidion exempted from custom duty

Life saving drugs, including breast cancer, custom duty reduced to 5% from 10%

Custom duty reduced on LCD panels from 10% to 5%

5% Custom duty on Set top boxes

Anoymous donations - grant relief 5% of total income or Rs 1,00,000 whichever is higher

Finance Act 2008 introduced CTT has been abolished

Construction - restore full exemption on goods such as pre-fabricated slabs

Branded jewellery exempted from excise duty

Income tax exemption limit raised by Rs 10,000

Income tax exemption limit for women raised by Rs 10,000

Income tax exemption limit for senior citizens raised by Rs 15,000

Surcharge on personal Income tax scrapped

Individual law consultation not to attract service tax

Tax holiday on commercial production of mineral oil and natural gas on NELP VIII

FBT is scrapped

To release new direct tax code in 45 days

To introduce GST by April 1, 2010

Federal Tax/ GDP ratio is 11.5%

Fiscal deficit seen at 6.8% in FY10

To eliminate tax distortion

Non tax revenue receipts are likely to be better

Enhance budgetary support by Rs 40,000 cr

Budget estimates: Interest payment expected at Rs 2,25,511 cr

Interest payment are a third of expenditure plan

To spend Rs 1.42 lakh cr on defence

Increasing automation in direct tax collection

Aila hurricane relief at Rs 1,000 cr

Plan expenditure up 34% to Rs 3.75 lakh cr

Proposes Rs 500 cr for rehabilation of displaced persons of northern and eastern areas of Sri Lanka

Allocation for new Aligarh Muslim Univ campuses in Bengal, Kerala at Rs 25 cr each

Budget estimates: Rs 10,20,830 cr, Rs 6,95,600 cr non-planned and planned Rs 3,29,100 cr

Plan outlay increased by 74%

Allocation Commonwealth Games raised by more than 50% to Rs 3,472 crore

50% of all rural women to be brought into self-help group programmes

National Mission for Female Literacy to be launched

Govt to build 100,000 homes for paramilitary forces

National Mission for Female Literacy to be launched

Allocation of Rs 2,113 cr for IIT

Govt to spend Rs 120 cr in FY10 in unique ID

Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore

Allocation for flagship Bharat Nirman progamme raised by 45%

Paramilitary housing project to cost Rs 1,000 cr

Certain Pension related benefits extended to war hounded

Paramilitary housing cost estimated at Rs 1,000 cr

Govt proposes to launch housing for 1 lakh para military forces

Unique ID cards in 12-18 months

46 lakh BPL families to come under new health insurance plan

NREGA has been and outstanding success

Right to Information Act been successful

To add handloom clusters in West Bengal and Tamil Nadu

More than 46 lakh people received biometrics card

National Web Portal for employer and employee to be launched

Govt aims to have social security for informal sector

Plan to cut felame illiteracy by half in three yrs

Unorganised Social Security Bill passed by both houses of the Parliament

To launch national mission on female literacy

PM's Adarsh Gram Yojana starts with Rs 100 cr funding

NHB refinance to rural housing sector to be raised

Indira Awaas Yojana outlay increased by 63%

Bharat Nirman outlay raised by 59%

Food security to provide rice, wheat at Rs 3 a kg to poor

Allocation for Indira Awaas Yojana to be increased by 63%

59% increase in allocation for Pradhanmantri Gram Sadak Yojna

Govt to move food security bill very soon

NREGA outlay increased by 144%

NREGA min wages set at Rs 100/day

Income-tax return forms to be made more user-friendly

PSU companies to remaain under government control

8.5% growth in recent past fueled by pvt sector investment

Govt wants public shareholding in PSUs to go up

PSUs to remain under govt control

PSU Banks, insurance firms outside disinvestment plan

Turbulence in world markets left Indian financial sector unaffected

Proposes people's participation in disinvestment programme

IT Saral 2 form to be introduced

Rs 1 lakh crore projects for Infrastructure revival

Fiscal deficit up to 6.2% from 2.7% fo GDP

Institutional reforms to cover subsidies, expenditure

Govt to set-up expert committee to advise on petro pricing products

Markets dip into red, Sensex down 45pts

To return to FRBM target at the earliest

Special fund of Rs 4,000 cr from Rural Infra Dev fund to provide cheap loans to MSME

To increase fertiliser usage - govt proposes to move from product pricing basis

Return to FRBM target as soon as possible

30% rise in Rashtriya Krishi Vikash Yojana allocation over 2008-09

Budget makes subvention of 1% to benefit farmers

The market development assitance scheme allocation hiked by 148% to Rs 124 cr

Exporters borne the brunt of eco crisis, will provide adj assistance till March 2010

Proposes to extend deadline to farmers to pay off 75% of loans by six months to December 31, 2009

Govt announces rebate for farmers paying loan on time, and lower rate of 6% proposed

Loan for farmers Rs 3,00,000 at 7% per annum

Agriculture records growth of 4% per annum in recent past

The Assam gas cracker project estimated at Rs 5,160 cr

JNNURM support raised by 87%

IIFCL and banks in position to support Rs 1,00,000 cr in infrastructure

Stepped up allocation of funds from Rs 10,800 cr to Rs 15,800 cr for railways

Highway and railways - allocation hiked by 23%

Govt have some success in attracting investments in certain sectors through PPP

FIIs are back in the market, the worst two quarters are behind us

Govt needs to provide further stimulus for the economy

MAT hiked to 15% of book profit from 10%

There are signs of revival in domestic industry

For 1st time I held a meeting with state finance ministers to work together

Gross capital flow rose to over 9% over GDP

Infra investment to be over 9% of GDP by 2014

Highlights of 2008-09: Sharp rise in inflation to nearly 13% and a equally sharp fall to 0%

GDP dips from over 9% average in past three years to 6.7% in 2008-09

Ensure 4% agriculture growth

In Interim Budget I had given a detailed analysis of eco situation

Budget an important mean to present the view of the government

A single Budget Speech cannot solve all our problems.

Aim: To reduce number of people living below poverty line to less than half of current level by 201

No comments: