No change. ----- Original Message ----- From: "p. raju" <nakshitra...@gmail.com> To: <accessindia@accessindia.org.in> Sent: Saturday, March 17, 2012 3:35 PM Subject: Re: [AI] highlights of Budget 2012
is there any increase in the exsumption of income tax to the pwd On 16/03/2012, sweety.bhalla <sweety.bha...@ifciltd.com> wrote: > Following are the highlights of Budget 2012: > > · GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13 > > Union Budget 2012: Highlights > > · Amendment to the FRBM Act proposed as part of Finance Bill. New concepts > of "Effective Revenue Deficit" and "Medium Term Expenditure Framework" > introduced > > > · Central subsidies to be kept under 2 per cent of GDP; to be further > brought down to 1.75 per cent of GDP over the next 3 years. > > · Proposed: Mobile based fertilizer management system; LPG transparency > portal; scaling up and rolling out of Aadhar enabled payment for > government > schemes > in at least 50 districts. > > · Rs. 30,000 crore to be raised through disinvestment > > · Efforts to reach broadbased consensus on FDI in multi-brand retail > > · Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to > retail > investors on investing in equities > > · Rs. 15,888 crore to be provided for capitalization of public sector > banks > and financial institutions > > · A central "Know Your Customer" depository to be developed > > · Swabhimaan: remaining habitations to be covered; to be extended to more > habitations; ultra small branches to be set up in Swabhimaan habitations > > · Investment in 12th Plan in infrastructure to go uptoRs. 50,00,000 crore; > half of this is expected from private sector > > · Tax Free Bonds of Rs. 60,000 crore to be allowed for financial > infrastructure projects > > · Allocation of Road Transport and Highways Ministry enhanced by 14 per > cent > to Rs. 25,360 crore > > · Financial package of Rs. 3,884 crore for waiver of > loans > to handloom weavers and their cooperative societies; mega handloom > clusters > in Andhra, Jharkhand; weaver service centres in Mizoram, Nagaland and > Jharkhand > ; powerloom mega cluster in Maharashtra; Rs. 500 crore pilot schemes for > geo-textiles in North-Eastern region > > · Rs. 5,000 crore India Opportunities Venture Fund to help small > enterprises > > · Allocation to agriculture enhanced; RKVY gets Rs. 9,217 crore; BGREI > gets > Rs. 1,000 crore; Rs.2242 crore project to improve dairy productivity; Rs. > 500 > crore for coastal aquaculture > > · Various other agricultural activities merged into 5 missions > > · Target for agricultural credit raised to Rs. 5,75,000 crore > > · Interest subvention for short-term crop loans to farmers at 7 per cent > interest continues; additional 3 per cent for prompt paying farmers > > · Rs. 200 crore for awards to incentivise agricultural research > > · Provisions under rural housing fund increased to Rs. 4,000 crore from > Rs. > 3,000 crore > > · Interest subvention of 1 percent on housing loans uptoRs. 15 lakh > extended > for one more year > > · AIBP allocation raised by 13 per cent to Rs. 14,242 crore > > · National Mission on Food Processing to be started in cooperation with > State Governments > > · Scheduled Caste Sub Plan allocation increases by 18 per cent to Rs. > 37,113 > crore; Tribal Sub Plan by 17.6 per cent to Rs. 21,710 crore > > · Multi-sectoralprogramme to address maternal and child malnutrition in > 200 > high burden districts > > · 58 per cent rise in allocation to ICDS, at Rs. 15,850 crore > > · Rural drinking water and sanitation gets 27 per cent rise in allocation > to > Rs. 14,000 crore; PMGSY gets 20 per cent rise to Rs. 24,000 crore > > · Projects covering length of 8800 km to be awarded under NHDP against > 7,300 > km during 2011-12 > > · RTE-SSA gets Rs. 25,555 crore allocation, showing an increase of 21 per > cent; 6000 schools to be set up at block level as model schools in the > 12th > Plan; > Credit Guarantee Fund to be set up for better flow of credit to students > > · National Urban Health Mission is being launched > > · 34 per cent increase in allocation to National Rural Livelihood Mission, > to Rs. 3915 crore > > · Rs. 1000 crore allocated for National Skill Development Fund > > · Bharat Livelihood Foundation to be established to support livelihood > interventions particularly in tribal areas > > · Widow pension and disability pension raised from Rs. 200 to Rs. 300 per > month > > · Grant on death of primary breadwinner of a BPL family in the age group > 18-64 years doubled to Rs. 20,000 > > · Defence services get Rs. 193407 crore; any further requirement to be met > > · 4000 residential quarters to be constructed for Central Armed Police > Forces > > · UID-Aadhar to get adequate funds for enrolment of 40 crore persons, in > addition to the 20 crore persons already enrolled > > · White Paper on Black Money to be laid in the current session of > Parliament > > · Tax proposals mark progress in the direction of movement towards DTC and > GST > > · Income tax exemption limit raised from Rs.1,80,000 to Rs.2,00,000; upper > limit of 20 per cent tax slab raised from Rs.8 lakh to Rs.10 lakh > > · Interest from savings bank accounts deductible upto Rs.10,000; deduction > of upto Rs.5,000 for preventive health check-up > > · Senior citizens without business income exempt from advance tax > > · Investment linked deduction of capital expenditure enhanced for certain > businesses; new sectors eligible for investment linked deduction > > · Turnover limit for compulsory tax audit for SMEs raised from Rs.60 lakh > to > Rs.1 crore > > · STT on cash delivery reduced by 25 per cent to 0.1% > > · General Anti Avoidance Rule being introduced to counter aggressive tax > avoidance > > · A number of measures proposed to deter generation and use of unaccounted > money > > · All services to attract service tax except those in the negative list > > · Central Excise and Service Tax being harmonized > > · Standard rate of excise duty raised from 10 per cent to 12 per cent; > service tax rates raised from 10 per cent to 12 per cent; no change in > peak > customs > duty of 10 per cent on non-agricultural goods > > · Relief in indirect taxes to sectors under stress; agriculture, > infrastructure, mining, railways, roads, civil aviation, manufacturing, > health and nutrition, > and environment get duty relief > > · Certain cigarettes and bidis attract higher excise duty; large cars > attract higher customs duty > > · Excise imposed on unbranded jewellery also; measures to minimize impact > on > small artisans and goldsmiths; branded silver jewellery exempted from > excise > duty > > · Net gain of Rs.41,440 crore due to taxation proposals > > · Total expenditure budgeted at Rs. 14,90,925 crore; plan expenditure at > Rs. > 5,21,025 crore - 18 per cent higher than 2011-12 budget; non plan > expenditure > at Rs. 9,69,900 crore > > · Fiscal deficit targeted at 5.1 per cent of GDP, as against 5.9 per cent > in > revised estimates for 2011-12 > > · Central Government debt at 45.5 per cent of GDP as compared to > Thirteenth > Finance Commission target of 50.5 per cent > > · Medium-term Expenditure Framework Statement to be introduced; will set > forth 3-year rolling target for expenditure indicators > > (Sweety Bhalla) > Assistant Manager (Compliance) > IFCI LTD > New Delhi India > E-Mail: sweety.bha...@ifciltd.com > ***************************************************************************** > Disclaimer > This e-mail contains PRIVILEGED AND CONFIDENTIAL INFORMATION intended > solely for the use of the addressee(s). If you are not the intended > recipient, please notify the sender by e-mail and delete the original > message. Further, you are advised not to copy, disclose, or distribute > this e-mail or its contents to any other person and any such actions > will > be deemed unlawful. This e-mail may contain viruses/spyware/malware. > IFCI Ltd has taken every reasonable precaution to minimize this risk, but > is not liable for any damage that may be sustained as a result of any > virus/spyware/malware in this e-mail. It is advised to carry out your > own > virus checks before opening the e-mail or attachment. IFCI Ltd reserves > the right to monitor and review the content of all messages sent to or > from this e-mail address. 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