Budget 2011-12 Highlights


Indiamart | 28/02/2011

  • AC restaurants serving liquor and AC hospitals with more than 25 beds under service tax.
  • Service tax on air travel to be increased.
  • Customs duty on raw silk reduced from 30 to 5 per cent.
  • Legal services to be expanded to business entities.
  • 20% export duty for iron ore.
  • Custom duty on Pet Coke and Gypsum to minimized to 2.5%.
  • No new tax exemption limit for women.
  • Mandatory levy of 10 pct on branded garments.
  • Budget estimates for 2011-12 projects- Rs 9,32,440 crore.
  • No change in Central excise duty rate. Base rate on excise duty raised from 4% to 5%.
  • Surcharge rate reduced from 7.5 percent to 5 percent for domestic companies.
  • Hike in exemption IT limit from Rs 1.6 lakh to Rs 1.8 lakh.
  • New series of coins with new rupee symbol expected.
  • Simplify tax collection procedure.
  • 1 million UID cards to be distributed per day shortly.
  • Targeting to reduce deficit to 4.6% for the upcoming fiscal year.
  • Plan and Non-Plan expenditure to be increased by 23%.
  • BPL pension eligibility age limit reduced.
  • Group formed to monitor corruption;will start implementing from 62 dept. in first phase.
  • Amendment of Indian Stamp Act shortly.
  • Simplified form ‘Sugam’ for small tax payers.
  • Rs 1.64 lakh crore for Defence.
  • Rs 1000 crore to build judicial infrastructure.
  • Group of ministers to sort out Environmental concerns.
  • 1000 crore for improvising judiciary system.
  • Rs 8,000 cr to Northeast.
  • 60 schemes for SC/ST to be implemented.
  • Rs 100 crore for Ladakh.
  • Rs 150 crore for Jammu.
  • Pension amount increased for 80 years and above.
  • Indira Gandhi National Old Age Pension Scheme eligibility revised from 65 to 60 years.
  • Rs 200 cr grant to IIT Kharagpur.
  • Rs 20 crore to IIM Calcutta.
  • 50 Crore to muslim universities in different states.

 

  • 58,000 crore for Bharat Nirman Schemes: FM
  • State Innovation Council in each state to be set up.
  • Remuneration of anganwadi workers increased from Rs 1500 to Rs 3,000 per month.
  • Independent debt management office to be established.
  • Rs 1.6 lakh crore to be spent on social projects.
  • Current a/c gap a concern due to composition of FX flows: FM
  • Establishment of national policy on psychotic drugs, narcotics.
  • Tax free infra bonds worth Rs 30000 cr for PSBs proposed.
  • 15 mega food parks to be set up.
  • Infrastructure spending increased by 23%.
  • Rs 30K crore tax free bonds to be provided for railways.
  • Financial assistance to be provide to Bengaluru, Chennai, Kolkata metro projects.
  • Allocation under Rashtriya Krishi Vikas Yojana to be increased to Rs 7860 crore.
  • Promote organic farming.
  • GDP manufacturing, targeting 16-25 % increase in next 10 years.
  • Rs 300 cr to cultivate pulses in rain-fed areas;Rs 300 cr for the promotion of farm product cultivation.
  • Provide Rs 6000cr for PSU bank recapitalization.
  • FM: Micro finance companies to be provided with Rs 100 crore equity funds.
  • Extension of NBS for urea to be analyzed.
  • Home loan limit increased.
  • Rs 300 cr for improving pulses production.
  • Rural infrastructure development fund to be raised to 180 billion Rupees for the coming fiscal year.
  • Grant 1% interest on home loans upto 50 lakhs.
  • Mortage Risk Guarantee fund for rural housing to be set up.
  • Rs 5,000 cr to be provided to SIDBI to meet priority lending targets.
  • Rs 2000 crore for warehousing facilities.
  • Rs 2,000 cr for manufacturing facilities.
  • Allocation of Rs 6000 cr for some PSU banks.
  • Only registered FII’s to be associated with Indian MF industry.
  • Rs 40,000cr to be raised via disinvestment.
  • GST bill to be introduced in current session.
  • Extension of NBS to cover urea under review: FM
  • 500 crore proposed for empowering women.
  • Micro finance institutes proposed for 100 crore.
  • 300 crore to be provided to NABARD.
  • FBI to regularize banking amendments.
  • Ensures better delivery of urea, kerosene.
  • FII allow to trade amongst themselves.
  • FBI policy to be regularized.
  • Public Debt Management Bill to be introduced in 2012.
  • Pranab sees Budget 2011-12 as transition towards a transparent and result-oriented economic management.
  • Public sector undertaking to be increased.
  • Direct transfer of cash subsidy to downtrodden.
  • Average inflation and current account deficit to be minimized by next year: FM
  • Strong proposition to fight against corruption.
  • Pranab seeking Lord Indra’s blessings to get good monsoon.
  • Remarkable record for last fiscal year.
  • Improvise the governance.
  • Govt. to reconsider ecological concerns.
  • Tremendous growth in exports-29.4%.
  • Food inflation down from 22.2% to 9.3 %. But still is a major concern, says FM.
  • Budget to ensure more transparent economy.
  • Focus on supply side issues in agriculture.
  • Pranab: Work on food inflation.
  • Stabilize the macro economic situation.
  • Budget 2011 approved by Cabinet.
  • Pranab: Impressive fiscal consolidation
  • Pranab Mukherjee begins the speech.
  • Finance Minister Pranab Mukherjee to begin Union budget 2011-12 speech from 11 am.

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