- Customs duty reduced from 7.5% to 2.5% for iron ore equipment
- Government hikes defence spending to Rs 1,93,007 crore
- LCD and LED panels exempted from custom duty
- 12% excise duty imposed on branded retail garments
- School education exempt from service tax
- Automated shuttle looms exempted from customs duty
- Mobile phone parts exempted from basic customs duty
- Proposes to remove sector-specific restriction on venture capital fund investments
- To allow external commercial borrowing to part finance rupee debt in power projects
- Cuts customs duty on rail equipment to 7.5% from 10%
- Customs duty on some gold and platinum products increased
- Import of aircraft parts exempt from basic customs duty
- Customs duty on refined gold doubled
- Direct Tax Code implementation deferred: Pranab
- Service tax up from 10% to 12%
- Rs 18660 crores will result from service tax rise
- Standard excise duty hiked to 12%
- Common tax code for service tax and excise
- FY 13 net market borrowing at Rs 4.8 lakh crores
- Some infra construction services exempt from service tax
- To raise duty on large cars to 27%
- No change in peak customs duty
- Fiscal deficit target set at 5.1% of GDP in Budget 2012-13
- 10 year yield at 8.40%
- Full exemption on customs duty on coal
- LNG out of customs duty
- Govt sees expenditure rising 29% in 2012/13
- India achieved success in external trade: Pranab Mukherjee
- 5% customs duty exempted on equipment for fertilizer plants
- Thermal power companies exempted from customs duty for 2 years
- Efforts on for consensus on 51% FDI in multi-brand retail
- FM announces new equity savings scheme
- Rs 14000 crore for rural drinking and sanitation in FY 13
- NRHM allocation hiked to 20820 crores
- Rural development fund of 20000 crores
- Govt aims to trim subsidy burden
- Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
- Defence outlay at Rs 1.95 lakh crore
- To introduce new law for micro finance institutions
- Agri credit target for FY13 at Rs 5.75 lakh cr, up Rs 1 lakh cr
- Budget 2012: Fiscal balance has deteriorated
- Coal India advised to sign FSA with power plants
- Gross tax at 10.6% of GDP
- Gross tax receipts at 10.77 lakh crore
- Tables a white paper on black money issue
- Fiscal deficit at 5.9% in FY 12
- Non plan expenditure at Rs 9.7 lakh crore
- Exemption up to Rs 2 lakh for individuals
- No change in corporate tax rates
- Income Tax at 10% for Rs 2-5 lakh
- Income Tax at 30% for income of over Rs 10 lakh
- Income Tax at 20% for Rs 5 lakh to Rs 10 lakh
- FM announces intention of tabling white paper on black money
- Income Tax Slabs: Up to 2 lakh rupees – NIL; Rs 2– 5 lakh – 10%; Rs 5–10 lakh – 20%; Above Rs 10 lakh – 30%; No change in corporate tax rates
- Sensex trading 180 points higher led by gains in ICICI Bank, HDFC Bank and ITC
- BSE realty index gains 2%, BSE banking index up 2% and BSE power index rose 1.8%
- Top Sensex losers: RIL (down 0.8%), Hero MotoCorp (down 0.6%) and Tata Motors (down 0.6%)
- Shares of BHEL trading 3.6% higher at Rs 293.85, top Sensex gainer
- 12th plan infra investment at Rs 50 lakh crore
- Propose Central KYC depository
- Extend RRB capitalisation for 2 years
- Rs 15890 crores for recapitalization of PSU banks
- To allow qualified FII into domestic corporate bonds
- DTC to be implemented at the earliest
- Double infra debt amount to Rs 60,000 crore
- Oil and gas pipelines to be eligible for viable gap funding
- To allow ECB to fund part finance power rupee debt
- Share of manufacturing in GDP will be increased
- To become self sufficient in urea production in next 5 years
- To allow ECB funding to finance working capital needs of airlines
- Rs 10000 crore of tax fee bonds for power sector
- FDI in aviation is under active consideration
- To allow ECB funding to finance working capital needs of airlines for 1 year
- Change in IPO guidleines to promote small town participation
- Plan outlay raised 18% to Rs 20,208 cr for agriculture
- To make 8,800 km of highways in FY13; outlay raised
- Will allow external commercial borrowing for power, housing road construction companies
- Fuel supply constraints have hit power supplies nationally
- Telecom towers made eligible for viability gap funding
- Irrigation, dams to be eligible for special funding
- GDP expected to grow at 6.9%
- Performance this year was disappointing but as compared to peers India was better
- Middle East crisis, debt worries in EU have intensified
- Global crisis hit Indian growth
- Auto stocks down on profit-booking
- Tight monetary policy hit consumption and growth
- Need to improve supply side in economy
- FY 12 was a year of recovery interrupted, says FM
- Numerous economic indicators suggest economy is turning around
- Needs to improve supply side management of economy
- Manufacturing sector appears to be on a revival path
- To focus on domestic demand, raise private investment
- To enhance supply side; cut infra bottlenecks
- To address black money, corruption in public life
- Current account defict to be at 3.6%
- Expect current account defict to decrease next year
- India has achieved to diversify export and import markets
- High crude oil prices hit growth, averaged $115/bbl in 2011-12
- Fiscal deficit rose due to subsidy
- FRBM implementation back on track
- Decided to fully provide for food subsidy in the budget
- Central subsidies to be under 2% of GDP
- Economy to grow at 7.6% in 2012/13
- To roll out computerized scheme for fertilizer subsidy transfer
- Inflation & current account deficit to come down next year
- Focus on removing infrastructure bottlenecks
- Changes in IPO norms to increase participation in small towns
- To introduce new Rajiv Gandhi equity scheme
- Government to include advance pricing in Finance Bill 2012
- Find ways to expedite implementation of decision, prompt delivery and good governance with transparency, while curbing black money and corruption
- Remove bottlenecks in agriculture, energy, transport, coal, power and national highways
India Budget 2012-2013 Highlights(Live Updates)
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