*UNION BUDGET 2010-2011<http://www.daytrading.in/latest-news/union-budget-2010-2011.html> *
* INCOME TAX* *Individual* *Existing* *Proposed* >From Rs.1,60,001 to Rs 3,00,000 -10% >From Rs.1,60,001 to Rs 5,00,000 -10% >From Rs.3,00,001 to Rs 5,00,000 -20% >From Rs.5,00,001 to Rs 8,00,000 -20% Above Rs.5,00,000 -30% Above Rs.8,00,000 -30% - Additional investment of Rs 20,000 in infra bonds over and above Rs 1 lakh in 80C. - Enhance tax audit limits for professionals to Rs 15 lakh *Corporate* - Reduces current surcharge of 10% on domestic comp to 7.5% - Peak excise duty hiked from 8% to 10% - Weighted deduction from 150% to 200% for in-house R&D - Limits for turnover for purpose of presumptive taxation of small business enhanced to Rs 60 Lakhs *TAX - OTHERS * * * *Goods and Service Tax (GST) and Direct Tax Code (DTC)* - Implementation of GST and DTC by April 2011 *MAT* *Negative* - Minimum Alternate Tax up from 15% to 18% on book profits *AGRICULTURE* *P* - Will reduce fertilizer subsidy - Focus to improve food security - To provide Rs 400 cr to extend green revolution to eastern India - Sets aside Rs 200 cr for a new agricultural initiative - Repayment tenure for farmer loans extended by 6 months to June 30th 2011 - To provide 2% loan subsidy to farmers - Proposes to increase subvention to 5% in repayment of farmer loans - Allocates Rs 1,200 cr for drought mitigation - Agri credit flow target for this year increased to Rs 3,75,000 cr from Rs 3,25,000 cr last year - To set up 5 more mega food park projects - Rs 300 cr for Rashtriya Krishi Yojna - Rs 100 cr allocated for women farmers - External commercial borrowing will be available for food storage industries *EDUCATION* - Govt allocates Rs 31,036 cr for school education and Rs 3,675 cr for elementary education *INDUSTRIES* *Automobile and Ancillaries* - Excise duty on large cars, SUVs, multi utility vehicles raised to 22% from 20% - Full excise cut on electric cars *Banking & Financial Companies* - Sets aside Rs 16,500 cr for PSU banks to get minimum 8% tier 1 capital by March 2011 - RBI to release additional licenses to pvt sector banks and non-banking financial institutions - Repayment tenure for farmer loans extended by 6 months to June 30th 2011 - Agri credit flow target for this year increased to Rs 3,75,000 cr from Rs 3,25,000 cr last year - To provide 2% loan subsidy to farmers - Proposes to increase subvention to 5% in repayment of farmer loans - IIFCL disbursements at Rs 9,000 cr by March 2010 - Housing loan: 1% interest subvention scheme extended, allocation Rs 700 cr - Allocates Rs 100 cr for new pension scheme, to benefit 100,000 low income citizens - All villages with 2000+ population to get banking facilities by 2012 *Cement* - Partial rollback of excise duty on cement *Infrastructure & Engineering* - 44% of total plan outlay allocated to infrastructure - Budget allocates Rs 1.73 lakh cr for infrastructure - IIFCL disbursements at Rs 9,000 cr by March 2010 - Delhi-Mumbai industrial corridor taken up for development - Road transportation kitty increased 13% to Rs 19,894 cr - Govt allocates Rs 16,500 cr for railways - Rs 66,1000 cr allocated for rural development in FY11 - 35% of development funds to be invested in rural India - Urban development allocation up more than 75% to Rs 5,400 cr - Rs 100 cr for financial inclusion fund; Allocation for Bharat Nirman at Rs 48,000 cr - Additional Rs 20,000 deduction available for investment in infra bonds - Government committed to SEZs to promote exports - No import duty on some equipment in road projects * * * * *Fertilizer* - To provide govt subsidy in cash instead of bonds for fertilizer - Will reduce fertilizer subsidy - Rs 300 cr for Rashtriya Krishi Yojna *FMCG* - To set up 5 more mega food park projects - External commercial borrowing will be available for food storage industries - 35% of development funds to be invested in rural India - Rs 66,100 cr allocated for rural development in FY11 - Duties on smoking and non-smoking tobacco products up *Gems & Jewellery* - Import duty on silver raised to Rs 1,500 per kg *Healthcare* - Focus to improve healthcare systems - Govt allocates Rs 22,300 cr to healthcare - Weighted deduction from 150% to 200% for in-house R&D *IT/ITES* *Neutral* - UID authority given Rs 1,900 cr - Government committed to SEZs to promote exports *Oil & Gas* *Positive* - To discuss Kirit Parikh report in due course - Petroleum products: basic duty of 5% crude , 7.5% on diesel & petrol; 10% on refined products - Rs 1 per litre excise on petrol, diesel - To provide govt subsidy in cash instead of bonds for oil *Power* - Govt to facilitate 20,000 MW of solar power by 2022 - Govt to have a coal regulator for allocation of coal blocks - To levy clean energy cess on imported coal - Funds for power allocation raised from Rs 2,232 cr to Rs 5,132 cr - Propose to hike allotment for renewable energy by 61% - For solar mission, solar power generating units rates are to be reduced by 5% - Cut in duty for photovoltaic units *PSU* *Positive* - Divestment proceeds budgeted higher in FY11 vs FY10 - Govt to raise Rs 25,000 cr through disinvestment *Real Estate* - Indira Awas Yojana: allocation up by Rs 10,000 cr - Sops for real estate, housing projects extended by a year - Housing loan: 1% interest subvention scheme extended to March 2011, allocation Rs 700 cr - Delhi-Mumbai industrial corridor taken up for development *Telecommunication* *Neutral* - Allocation for Bharat Nirman at Rs 48,000 cr - Mobile accessories market to get tax breaks *Textile* - FM extends interest subvention of 2% for exports of handlooms, handicrafts and SMEs for 1 year - Exclusive skill development programme in textile and garment sector - Khadi institutes get Rs 400 cr - GOI sign USD 150 mn deal with ADB for implementing Khadi programme - One time grant of Rs 200 cr to Tamil Nadu for textiles - Government committed to SEZs to promote exports *Tourism* - To boost tourism investment, offers investment linked tax deductions - Rs 200 cr for Goa to restore beaches -- With Regards, Kushagra Mehta http://www.daytrading.in -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. 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