Friday, February 26, 2010

Budget 2010: Highlights

  • Excise on locally refined gold at Rs 280/gram
  • Basic customs duty on gold ore reduced
  • 5% duty, project import status for MSOs
  • Not to levy import tax on some equipment in road proj
  • Uniform, concessional 5% duty on all medical appliances
  • Customs duty rationalized on music, gaming, software
  • Businesses with Rs 60 lakh turnover have to audit a/c
  • Excise duty on CFL halved to 4%
  • Central excise on LED lights cut to 4%
  • Rs 50/t cess on Indian coal
  • To raise central excise on non-petro products to 10%
  • Increased excise duty on all non-smoking tobacco
  • Excise on cigars, cigarettes to go up
  • CET on petro products hiked by Re 1
  • Partial rollback of excise duty on large cars
  • Partial rollback of excise duty on cement, cement products
  • Excise duty hiked to 10% vs 8%
  • Professionals with Rs 15 lakh income need account audit
  • Weightage deduction on R&D increased to 200%: Ernst & Young
  • Weighted deduction from 150% to 200% for in-house R&D
  • Surcharge for companies reduced to 7.5% from 10%
  • MAT increased to 18%
  • 10% tax for income between Rs 1.6-5 lakh
  • Nil tax for Rs 1.6 lakh income
  • Borrowing plan to be decided in consultation with RBI
  • FY11 net market borrowing pegged at Rs 3.45 lakh crore
  • To continue with practice of oil, fert subsidy in cash
  • FY10 fiscal deficit revised to 6.9% of GDP
  • FY13 fiscal deficit pegged at 4.1%
  • FY12 fiscal deficit pegged at 4.8% of GDP
  • FY11 fiscal deficit pegged at 5.5% of GDP
  • Total expenditure this fiscal at Rs 11.87 lakh crore
  • Revised estimate for tax collection at Rs 7.47 lakh cr
  • Defence allocation at Rs 1.47 lakh cr
  • To soon finalise symbol for Indian Rupee
  • Allocated Rs 1,900 cr for UID project
  • UID authority to issue 1st set of ID's in FY11
  • To set up financial sector legislative reforms panel
  • Allocated Rs 2,600 cr for Minority Affairs ministry
  • Allocated Rs 5,000 cr to Social Justice ministry
  • Launched women farmer fund scheme with Rs 100 cr
  • Propose to launch skill development programme for textile sector
  • Village & child development outlay up 50%
  • Allocation for renewable energy at Rs 1,000 cr
  • Unorganised sector social security fund at Rs 1,000 crore
  • Health insurance extended to NREGA beneficiaries
  • National Security Fund allocated Rs 1,000 cr
  • Micro finance & equity fund doubled to Rs 400 cr
  • Allocated Rs 2,400 cr for micro, SME's
  • Allocation for slum redevelopment increased to Rs 1,270 crore
  • To extend 1% interest subsidy scheme for affordable housing to Mar 2011
  • Allocation for urban development at Rs 3,500 crore
  • Indira Aawas Yojana allocation at Rs 10,000 cr
  • Bharat Nirman FY11 plan outlay at Rs 48,000 crore
  • Rs 40,100 cr for NREGA
  • Rs 61,000 cr for rural infra development
  • Banking for all villages with population of 2,000
  • Allocation to Health Ministry at Rs 22,300 cr
  • FY11 education plan outlay at Rs 31,030 crore
  • Spending on social sector upped to Rs 1.37 lakh cr
  • Ready with draft Food Security Bill
  • One time grant of Rs 200 cr to Tamil Nadu for textile
  • Clean Ganga Mission allocated Rs 500 crore
  • Allocated Rs 200 cr to Goa to restore beaches
  • To set up 20,000 mw of solar power by 2022
  • Allocated Rs 500 cr to set up solar, small hydro power units
  • Micro power project in Ladakh at Rs 500 cr
  • To launch competitive bidding for captive coal mining
  • To set up coal regulatory authority
  • To loan Rs 16,752 cr to rail development projects
  • IIFCL to double re-finance to banks for infra
  • Road development allocation hiked to Rs 19,894 cr
  • To construct 20 km of national highway each day
  • Allocation for road transport raised by 13%
  • ECB's now available for food processing sector

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