Budget Live

1. Economy better than last year

2. Growth in manufacturing 18.5% pc — highest record in 20 years

3. Double-dip inflation?

4. Fertiliser subsidy to be reduced

5.   Income tax reforms —on way

6. GST —next year

7.  Direct Tax code by April 2011

8. Disinvestment target — Rs 25000 cr

9. Rs 16,500 crore for PSU banks, more private players to be encouraged

10. Fuel prices might be deregulated afterall!

11. Rs 300 cr — Rashtriya Krishi Vikas Yojana, mega food parks to come up

12. Infrastructural development — 13% hike for road transport,  20 km of highway every day, modernisation of railways, double plan allocation for power sector

13. Ganga to be made clean!

14. Tamil Nadu textile units to get funds!

15. Focus on rural development — bridging the urban-rural gap—- health sector 22,300 crore, NREGA 40,100 crore

16. Slums would be wiped out.

17. Minority allocation increased.

18. Health sector gets its share too

19. Banks for villages

20. Textile ministry to train 30 lakh people

21. Security concerns to be addressed

22. Speedy justice system proposed

23. Unique Identification (UID) numbers to be released

24.  Fiscal deficit target at 5.5 per cent f

25.  15% rise in plan expenditure

26. Fiscal deficit revised to 6.9% of GDP



TAX REFORMS:–

1. Income Tax

Rs 1.6 lakhs — NIL

Rs 1.6 to 5 lakhs — 10%

Rs 5 to 8 lakh – 20%

Rs 8 lakh and above – 30%

Tax saving limit increased from Rs 1 lakh to Rs 1.2 lakh — investment of Rs 20,000 in long-term infrastructure bonds has been allowed

2. Max Alternate Tax hiked to 18% from 15%

3. Corporate surcharge down to 7.5% from 10%

4. Excise — 8%  to 10% rollback, partial rollback  on cement, larger cars

5. Tobacco products prices up

6. Central Excise Tax on petrol products raised by Re 1 — opposition walks out

SENSEX CHEERS BUDGET — UP BY 316 POINTS


7. Mobile phones to cost less

8. 5 %  customs duty on crude petroleum products

9. Peak customs duty remains unchanged 10%

10. Excise duty on CFL goes down to 4%

11. Coal to attract Rs 50/ton cess

12. Gold to cost less, customs duty on silver at Rs 1500/kg

13. Rationalisation of customs on gaming software

14. Concessional duty of 5% on medical appliances

15. Service tax status quo at 15%

Stay tuned for analysis!

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One thought on “Budget Live”

  1. #16 & 17 – find them in stark contrast to mango man (aam admi) and a prolonging of equality in Indian society.

    addendum MAT = “Minimum” Alternate Tax.

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