India Union Budget 2009-2010
Hightlights
Exemption limit Changed
- For Senior Citizens - Now Rs 240,000
- For Women - Now Rs.190,000 For
- Others - Rs 160,000
Finance minister Pranab Mukherjee begins presentation of Union Budget
2009-10 in Lok Sabha. Some of the major excerpts of the budget speech
are:
- Excise duty on fibre for cheaper cloth reduced
- Excise duty on petrol-driven small trucks reduced to 10%
- 100% deduction in donation to electoral trusts
- Service tax to be levied on law firms
- Exemption of duty on goods made at construction sites restored
- Drugs for heart diseases to become cheaper
- Customs duty on gold and silver import increased
- Customs duty of 5% being levied on import of set-top boxes
- Drugs for heart diseases to become cheaper
- Customs duty on gold and silver import increased
- Commodities Transaction Tax to be rolled back
- Exemption of duty on goods made at construction sites restored
- Mobile phone accessories to become cheaper
- New direct tax code in 45 days
- Set-top boxes to cost more
- Anonymous funds to charitable bodies to get some tax relief
- Small businesses exempt from advance tax
- Custom duty on LCD panels halved
- Customs duty on bio-diesel reduced
- Tax holiday extended for textile units
- Total budget expenditure for 2009-10 will Rs 10,28,032 cr
- Higher public investment in infrastructure
- One lakh dwelling units for paramilitary forces to be built
- Allocation for rehab of Lankan Tamils
- New pension benefits for 12 lakh jawans and JCOs
- Pension of non-commissioned officers to be hiked
- Defence outlay has gone up
- Fringe Benefit Tax to be scrapped
- Eliminate the surcharge on personal Income tax by 10%
- Hike in IT exemption for women to Rs 1,90,000
- Hike in IT exemption to Rs 2,40,000 for senior citizens
- General Sales Tax model will have a Central GST and State GST
- GST to come into effect from April 01, 2010
- Corporate tax unchanged
- Interest subsidy on students' loans in higher education
- Rs 1,000 cr for Aila rehabilitation programme to West Bengal
- Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
- Rs 2,113 cr for IITs and NITs
- Government to spend Rs.12K cr on rural roads in FY'10
- Commonwealth allocation hiked to Rs 16,300 cr
- Govt to hike allocation to National Ganga Project to Rs 562 cr
- Rs 7000 cr for rural electrification
- Rice, wheat at Rs 3 per kg to the poor
- One rank, one pension for ex-servicemen from July 1
- Allowances to para-military forces at par with defence forces
- Unique Identification ID project to tap private talent
- National action plan on climate change
- Full interest subsidy for students in approved institutions
- Modernisation of national employment exchanges
- 50% cent of rural women in self-help groups
- Real wage of Rs.100/day provided under NREGA
- Allocation of Rs 50 cr to Chandigrah University
- Rs 100 cr one-time grant to expand banks in unbanking areas
- Allocation for PM Gram Sadak Yojna up by 59 per cent
- Work on National Food Security scheme for subsidised food
- Government to shift to nutrient based fertiliser subsidy regime
- Rural mega clusters in Bengal and Rajasthan
- Interest subsidy on education loans
- National Mission for female literacy
- Rural mega clusters in Bengal and Rajasthan
- Interest subsidy for home loans up to Rs 1 lakh
- LNG infrastructure in the country being expanded
- Government to introduce food security bill
- Scheduled commercial bks can set up offsite ATM
- Will create close to 12 million jobs
- Institutional refo reform measures to stabilise BOP
- Aiming for direct transfer of subsidy to farmers
- Rs 4000cr fund to incentivise banks & SFCs to lend
- To provide all possible relief to exporters
- Banking network to be expanded
- One banking centre in every bloc
- Rs 31,100 crore allocation for NREGA
- NREGA gave employment opportunities to more than 4.479 cr
households - Banks, insurance to stay with Government
- Raise threshold for non-promoter public listed companies
- Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
- 1% int subvention to farmers making timely payment
- Allocation to NHAI increased by 23%
- An expert group will look into petroleum product pricing
- GDP grew at 6.7% in 2008-09
- Move towards energy security via Integrated Energy Act
- Saral-II forms to simplify taxation process
- Domestic oil prices must be in sync with global prices
- Raise threshold for non-promoter public listed companies
- Hike in allocation for Mumbai flood management
- LNG infrastructure in the country being expanded
- Total fiscal stimulus during '08-09 is Rs 1,86,000 cr
- Set up a task force for farmer lending
- Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%
- Additional budget allocation to farmers
- Will ensure farm sector growth at 4%
- Need to strengthen improve regulatory framework
- Private investment has been the key growth driver
- FIIs have returned to India in last few months
- Print media stimulus package extended by six months
- Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
- Export Credit Guarantee scheme extended till March 2010
- Incentives in interest rates to farmers to pay back
- Agriculture loans in time
- Storm-water drainage project fund hiked to Rs 500 cr
- Blueprint for national gas grid
- IIFCL will refinance 60% of commercial bank loans in PPP
- IIFCL will look at new projects
- IIFCL will also look at incremental lending by banks
- JNNURM allocation hiked by 87 per cent
- Hike infrastructure investment to over 9% of GDP by 2014
- Fund alloction for urban poor accommodation is 3,973,000 cr
- Housing allocation hiked under Rajiv Gandhi Rozgar Yojana
- Trade in goods and services doubled in 2008
- Significant hike in foreign capital
- Need to reduce population below poverty line
- New company IIFCL to look at infrastructure needs
- Signs of revival in the domestic industry
- Fiscal stimulus gave economy a boost
- Govt took 3 stimulus packages to fight slowdown
0 comments:
Post a Comment