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TMI BlogGeneral Budget 2010-11X X X X Extracts X X X X X X X X Extracts X X X X ..... General Budget 2010-11 - News and Press Release Dated:- 26-2-2010 - News - General Budget 2010-11 · The Finance Minister Shri Pranab Mukherjee Lays Emphasis On Consolidated Growth, Improving Investment Environment, Inclusive Development And Strengthening Transparency And Public Accountability In Budget 2010-11. · The Total Expenditure Proposed In The Budget Estimates Is Rs.11,08,749 Crore, An Increase Of 8.6 Per Cent Over Last Year. · The Plan And Non-Plan Expenditure Estimated At Rs.3,73,092 Crore And Rs.7,35,657 Crore Respectively, An Increase Of 15 Percent In Plan Expenditure And 6 Per Cent In Non-Plan Expenditure Over The Be Of Previous Year. · Fiscal Deficit At 5.5 Per Cent Of Gdp Works Out To Be Rs. 3,81,408 Crore. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... · Rolling Targets For Fiscal Deficit Pegged At 4.8 Per Cent And 4.1 Per Cent For 2011-12 And 2012-13. · Net Market Borrowing Would Be Of The Order Of Rs. 3,45,010 Crore Leaving Enough Space To Meet Credit Needs Of Private Sector. · Against A Fiscal Deficit Of 7.8 Per Cent In 2008-09, Inclusive Of Oil And Fertilizer Bonds, The Comparable Fiscal Deficit Is 6.9 Per Cent As Per Re 2009-10. · Gross Tax Receipts Estimated At Rs.7,46,651 Crore And Non-Tax Receipt Estimated At Rs. 1,48,118 Crore. · Status Paper Giving Road Map For Curtailing The Overall Public Debt To Be Brought Out Within 6 Months. · About Rs. 25,000 Crores To Be Raised Through Disinvestmet Programme · To Simplify The Fdi Regime, For The First Time Both Ownership ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Control Recognised As Central To The Fdi Policy. · Rs. 16,500 Crore To Be Provided To Public Sector Banks To Achieve A Minimum 8 Per Cent Tier-I. · Growth Of 127 Per Cent Recorded In Exports From Sezs Till December, 2009. · A Four-Pronged Strategy To Spur The Growth In Agriculture Sector Envisaged. Which Includes Agricultural Production, Reduction In Wastage Of Produce Credit Support To Farmers And Thrust To The Food Processing Sector. · Agriculture Credit Flow Target Raised To Rs. 3,75,000 Crore From Rs.3,25,000 Crore · Subvention For Timely Repayment Of Crop Loan Increased From 1 Per Cent To 2 Per Cent. · Infrastructure Development Gets An Allocation Of Rs. 1,73,552 Crore, 46 Per Cent Of Total Plan Allocation, An Incre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase Of 13 Per Cent In Road Transport Sector. · India Infrastructure Finance Company Limited's Disbursements To Reach Rs. 20,000 Crore By March 2011. · Allocation For Power Sector Increased By More Than Doubled To Rs. 5,130 Crore. · New Tax Incentives Announced For Infrastructure Sector. · National Clear Energy Fund For Funding Research And Innovative Projects In Clean Energy Technologies To Be Set Up. · Spending On Social Sector To Account For 37 Per Cent Of Total Plan Outlay At Rs.1,37,674 Crore · Allocation For Rural Development Enhanced To Rs.66,100 Crores. Allocation For Nrega Stepped Up To 40,100 Crore. · Rs. 48,000 Crore Allocated For Bharat Nirman Programme · Backward Region Grant Fund Allocation Enhanced To R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 7,300 Crore. · Rajiv Awas Yojna For Slum Dwellers And Urban Poor To Get Rs. 1,270 Crore , An Increase Of Over 700 Per Cent · National Social Security Fund For Unorganised Sector Workers To Be Set Up With An Initial Amount Of Rs. 1,000 Crore. · Mahila Kisan Sashaktikaran Pariyojna With A Provision Of Rs.100 Crore Launched · 80 Per Cent Increase In The Allocation For Ministry Of Social Justice Empowerment At Rs 4,500 Crore. · Minority Affairs To Get Rs.2,600 Crore, An Increase Of 50 Per Cent. · To Rewrite And Clean Up The Financial Sector Laws, Financial Sector Legislative Reforms Commission To Be Set Up. · Unique Identification Authority Of India To Get An Allocation Of Rs. 1,900 Crore. A Technology Advisory Group For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Unique Proect To Be Set Up. · Allocation For Defence Increased To Rs.1,47,344 Crore. · National Mission For Delivery Of Justice And Legal Regorms To Be Set Up To Provide Timely Justice To All. · Income Tax Slabs Broadened - 10 Per Cent On Income Above Rs 1.6 Lakh To 5.00 Lakh, 20 Per Cent On Income Above 5.Oo Lakh To 8.00 Lakh , 30 Per Cent On Above Rs. 8.00 Lakh. · Additional Deduction Of Rs. 20,000 For Investment In Infrastructure Bonds. · Surcharge Of 10 Per Cent On Domestic Companies Reduced To 7.5 Per Cent. · Mat Increased From 15 Per Cent To 18 Per Cent. · Wighted Deduction Non Expenditure Incurred On In-House R D From 150 Per Cent To 200 Per Cent. · Limit Of Turnover For Presumptive Taxation Of Small Busines ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Enhanced To Rs. 60 Lakh. · Limits Of Turnover Needing Audit Enhanced To 60 Lakh For Businesses And Rs. 15 Lakh For Professions. · Proposal Of Direct Tax To Result In Revenue Loss Of Rs. 26,000 Crore Where As Indirect Taxes To Result In A Revenue Gain Of Rs. 46,500 Crore. · Service Tax Proposals To Result In Net Revenue Gain Of Rs.3,000 Crore. · Accredited News Agencies Which Provides News Feed Online Exempted From Service Tax. · Saral -II For Individual salary Taxpayers Ready For Notification. · Service Tax Retained At 10 Per Cent. · Certain New Services To Be Brought Within Service Tax Purview. · Micro-Wave Ovens, Pre-Packaged Imported Goods, Mobile Phones, Watches, Readymade Garments, Toy Baloons, Long Pepper, Replac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eable Household Water Filter To Be Cheaper. · Infotainmet Sector To Benefit From Concessional Custom Duty. · Indian Rupee To Get A Symbol, Join The Select Club Of Currencies. · Special Duty Concessions To Promote Clean Environment Clean Energy Cess @ Rs. 50 Per Tonne On Coal. · Rate Reduction In Central Excise Duties Partially Rolled Back Ad Valorem On Non Petro Products Cars Increased By 2 Per Cent. · Uniform Basic Duty Of 5 Per Cent And Cvd Of 4 Per Cent On Import Of Medical Equipmnet. · Scientified Inputs For Orthopaedic Implants Exempted From Import Duty. · Central Excise On Petrol Diesel Raised By Rs. One Per Litre. · Major Tax Relief To Agriculture Related Sectors. · Project Import Status For The Setting Up Of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Cold Storages. · Full Exemption From Excise Duty To Trailers Semi -Trailers. Bsc/Gg/L/38 - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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