Budget Highligts 2009
- No new tax on edible oil imports
- Excise duty on petrol diven trucks cut
- No change in corporate tax
- 4% excise duty on cotton products restored
- Custom duty on silver, excluding jewellery, hiked by Rs 500/ kh to Rs 1,000/ kg
- Life saving devices on heart contidion exempted from custom duty
- Life saving drugs, including breast cancer, custom duty reduced to 5% from 10%
- Custom duty reduced on LCD panels from 10% to 5%
- 5% Custom duty on Set top boxes
- Anoymous donations - grant relief 5% of total income or Rs 1,00,000 whichever is higher
- Finance Act 2008 introduced CTT has been abolished
- Construction - restore full exemption on goods such as pre-fabricated slabs
- Branded jewellery exempted from excise duty
- Income tax exemption limit raised by Rs 10,000
- Income tax exemption limit for women raised by Rs 10,000
- Income tax exemption limit for senior citizens raised by Rs 15,000
- Surcharge on personal Income tax scrapped
- Individual law consultation not to attract service tax
- Tax holiday on commercial production of mineral oil and natural gas on NELP VIII
- FBT is scrapped
- To release new direct tax code in 45 days
- To introduce GST by April 1, 2010
- Federal Tax/ GDP ratio is 11.5%
- Fiscal deficit seen at 6.8% in FY10
- To eliminate tax distortion
- Non tax revenue receipts are likely to be better
- Enhance budgetary support by Rs 40,000 cr
- Budget estimates: Interest payment expected at Rs 2,25,511 cr
- Interest payment are a third of expenditure plan
- To spend Rs 1.42 lakh cr on defence
- Increasing automation in direct tax collection
- Aila hurricane relief at Rs 1,000 cr
- Plan expenditure up 34% to Rs 3.75 lakh cr
- Proposes Rs 500 cr for rehabilation of displaced persons of northern and eastern areas of Sri Lanka
- Allocation for new Aligarh Muslim Univ campuses in Bengal, Kerala at Rs 25 cr each
- Budget estimates: Rs 10,20,830 cr, Rs 6,95,600 cr non-planned and planned Rs 3,29,100 cr
- Plan outlay increased by 74%
- Allocation Commonwealth Games raised by more than 50% to Rs 3,472 crore
- Sensex down over 900 pts
- 50% of all rural women to be brought into self-help group programmes
- National Mission for Female Literacy to be launched
- Govt to build 100,000 homes for paramilitary forces
- National Mission for Female Literacy to be launched
- Allocation of Rs 2,113 cr for IIT
- Govt to spend Rs 120 cr in FY10 in unique ID
- Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore
- Allocation for flagship Bharat Nirman progamme raised by 45%
- Paramilitary housing project to cost Rs 1,000 cr
- Certain Pension related benefits extended to war hounded
- Paramilitary housing cost estimated at Rs 1,000 cr
- Govt proposes to launch housing for 1 lakh para military forces
- Unique ID cards in 12-18 months
- 46 lakh BPL families to come under new health insurance plan
- NREGA has been and outstanding success
- Right to Information Act been successful
- To add handloom clusters in West Bengal and Tamil Nadu
- More than 46 lakh people received biometrics card
- National Web Portal for employer and employee to be launched
- Govt aims to have social security for informal sector
- Plan to cut felame illiteracy by half in three yrs
- Unorganised Social Security Bill passed by both houses of the Parliament
- To launch national mission on female literacy
- PM's Adarsh Gram Yojana starts with Rs 100 cr funding
- NHB refinance to rural housing sector to be raised
- Indira Awaas Yojana outlay increased by 63%
- Bharat Nirman outlay raised by 59%
- Food security to provide rice, wheat at Rs 3 a kg to poor
- Allocation for Indira Awaas Yojana to be increased by 63%
- 59% increase in allocation for Pradhanmantri Gram Sadak Yojna
- Govt to move food security bill very soon
- NREGA outlay increased by 144%
- NREGA min wages set at Rs 100/day
- Income-tax return forms to be made more user-friendly
- PSU companies to remaain under government control
- 8.5% growth in recent past fueled by pvt sector investment
- Govt wants public shareholding in PSUs to go up
- PSUs to remain under govt control
- PSU Banks, insurance firms outside disinvestment plan
- Turbulence in world markets left Indian financial sector unaffected
- Proposes people's participation in disinvestment programme
- IT Saral 2 form to be introduced
- Rs 1 lakh crore projects for Infrastructure revival
- Fiscal deficit up to 6.2% from 2.7% fo GDP
- Institutional reforms to cover subsidies, expenditure
- Govt to set-up expert committee to advise on petro pricing products
- Markets dip into red, Sensex down 900 pts
- To return to FRBM target at the earliest
- Special fund of Rs 4,000 cr from Rural Infra Dev fund to provide cheap loans to MSME
- To increase fertiliser usage - govt proposes to move from product pricing basis
- Return to FRBM target as soon as possible
- 30% rise in Rashtriya Krishi Vikash Yojana allocation over 2008-09
- Budget makes subvention of 1% to benefit farmers
- The market development assitance scheme allocation hiked by 148% to Rs 124 cr
- Exporters borne the brunt of eco crisis, will provide adj assistance till March 2010
- Proposes to extend deadline to farmers to pay off 75% of loans by six months to December 31, 2009
- Govt announces rebate for farmers paying loan on time, and lower rate of 6% proposed
- Loan for farmers Rs 3,00,000 at 7% per annum
- Agriculture records growth of 4% per annum in recent past
- The Assam gas cracker project estimated at Rs 5,160 cr
- JNNURM support raised by 87%
- Sensex up 140 pts to 15057
- IIFCL and banks in position to support Rs 1,00,000 cr in infrastructure
- Stepped up allocation of funds from Rs 10,800 cr to Rs 15,800 cr for railways
- Highway and railways - allocation hiked by 23%
- Govt have some success in attracting investments in certain sectors through PPP
- FIIs are back in the market, the worst two quarters are behind us
- Govt needs to provide further stimulus for the economy
- MAT hiked to 15% of book profit from 10%
- There are signs of revival in domestic industry
- For 1st time I held a meeting with state finance ministers to work together
- Gross capital flow rose to over 9% over GDP
- Infra investment to be over 9% of GDP by 2014
- Highlights of 2008-09: Sharp rise in inflation to nearly 13% and a equally sharp fall to 0%
- GDP dips from over 9% average in past three years to 6.7% in 2008-09
- Ensure 4% agriculture growth
- In Interim Budget I had given a detailed analysis of eco situation
- Budget an important mean to present the view of the government
- A single Budget Speech cannot solve all our problems.
- Aim: To reduce number of people living below poverty line to less than half of current level by 2014
- Pranab hails UPA win
- In Interim Budget I
had stated that the new govt shd sustain 9% growth over a sustained
basis.
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