| Revenue loss from direct taxes at Rs 11,500 cr, gain from indirect taxes at Rs 11,300 cr Service tax to boost revenue by Rs 4,000 cr AC hospitals with more than 25 beds under service tax Domestic travel to pay Rs 50 service tax, Rs 250 on international travel Life insurance services in area of investment now in service tax No excise duty on equipment for Ultra Mega Power projects Health check-up services now attract service tax No change in Central Value-added Tax rates No new tax exemption limits for women Cut in import duties of raw material for mobile phones Basic food, fuel exempted from central excise duty Tax sops of Rs 20,000 on infra bonds extended by a year 1% excise duty on 130 new items Rs 5 lakh tax exemption limit for individuals above 80 years of age SEZ to come under MAT Minimum alternative tax raised 185% vs 18% Tax exemption limit increased to Rs 2.5 lakh for senior citizens Eligibile age for senior citizens is now 60 years against 65 years earlier Exemption limit for individual tax payers raised to Rs 1.8 lakh from Rs 1.6 lakh FY13 fiscal deficit at 43% FY11 Fiscal Deficit at 51%, FY12 deficit seen at 46% Revenue deficit pegged at 34% Plan expenditure at Rs 414 lakh crore Gross Tax Receipts at Rs 932 lakh crore, up 25% Non-tax revenue Rs 1,25,000 crore Tax procedures for small businesses to be simplified Info exchange treaties signed with 13 tax havens Banks to cover 20,000 villages for opening accounts in FY12 To allocate Rs 58,000 cr to Bharat Nirman projects SC/ST scholarship scheme will benefit about 40 lakh students Scholarships to SC/ST students in Class IX and X Social projects spending outlay up 17% to Rs 16 lakh crore Food security bill to be introduced this year Rural broadband connectivity to be provided in 3 years Task force will be formed to deal with black money To allow Rs 30K crore tax-free bonds for railways, NHAI Metro projects in key cities will get financial aid Farm credit flow raised to Rs 475 lakh crore GoM to consider issues related to environmental conflicts Allocation for farm development raised to Rs 7,860 cr Subvention of 3% to farmers paying loans before time Allocation for farm development increased to Rs 7,860 cr Short term interest to farmers will continue to be at 7% Agricultural credit limit raised to Rs 4,75,000 crore New companies bill to be introduced in this session Rs 100 cr equity fund for MFIs Rs 6,000 cr for some PSU banks to help them maintain Tier-I capital at 8% To prevent fraud in loan cases, govt has set up Central Electronic Registry Liberalisation of FDI policy Govt commited to retain 51% holding in PSUs FII allowed to invest in MF schemes FII limit in corporate bonds has been raised by $20 billion FY12 Divestment target at Rs 40,000 crore FDI regulations consolidated into one comprehensive document States to cut down fiscal deficit to 3% of Gross State GDP by 2014 Preparations for GST rollout in final stages, bill in current session DTC comes in force in April 2012 Economy expected to grow at 9% Food inflation at 20.2% in February |
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Posted By Prashant to MALVANIYA PRASHANT at 3/01/2011 11:49:00 PM
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