├╝ Iodised salt, match-boxes,
soya products to become cheaper
├╝ Increase customs duty on
imported cars to 75%
├╝ Raises custom duty on import
on large SUVS
├╝ Increase excise duty on some
Cigarettes
├╝ Customs duty on gold bar
coins raised to 4%
├╝ Customs duty on platinum
raised
├╝ Customs duty on gold raised
├╝ Some infra services exempted
from service tax
├╝ Tax exemption of up to Rs
5,000 for health insurance towards annual preventive check up
├╝ Basic customs duty on
bicycles raised to 30%
├╝ Exempts LCD LED panels from
customs duty
├╝ Iron ore machinery part duty
cut to 2.5%
├╝ Airline parts exempted from
basic custom duty
├╝ Rs 15,890 crore for
recapitalisation of PSU banks
├╝ Coal LNG exempt from customs
duty
├╝ Exemption of customs duty of
5% on equipment for fertilizer plants
├╝ To keep peak custom rate
unchanged
├╝ To raise duty on large cars
27 pc duty
├╝ Excise duty hiked to 12 pc
from 10 pc
├╝ Service tax raised to 12 pc
from 10 pc
├╝ FY13 market borrowing at Rs
4.79 lakh cr.
├╝ Introduction of compulsory
reporting requirement of assets held abroad
├╝ To exempt some movie services
from service tax
├╝ Govt services, education,
entertainment, public transport exempted from service tax
├╝ School education exempted
from service tax
├╝ FM says information on black
money stashed abroad has started flowing in and prosecution to be executed in
some cases
├╝ Removes restriction on
venture capital investment
├╝ No change in corporate tax
├╝ Income above 10 lakh will
have 30% income tax
├╝ Income from 5 to 10 lakh will
have 20% income tax
├╝ Income Tax at 10 percent for
Rs 2-5 lakh
├╝ Tax exemption limit up to 2
lakh
├╝ Introduce new law for micro
finance institutions
├╝ FY12 fiscal deficit at 5.9%
and FY13 fiscal deficit at 5.1%
├╝ 7 medical colleges to be
upgraded to All India Institutes
├╝ FY13 non plan expenditure at
9.7 lakh crores
├╝ Non-tax revenue receipts
estimated at Rs 1.64 lakh crores
├╝ Additional 3 per cent
interest subvention to farmers for promptly repaying their due
├╝ Rs 25,555 cr for Right to
Education in FY13
├╝ Rs 193107cr in FY13 for
defense
├╝ Rs 1000 crores for National
Skill Development Fund in FY13
├╝ Rs 15,850 crore to be
allocated to Integrated Child Development Scheme in 2012-13
├╝ Pranab says the Nandan
Nilekani panel recommendation on direct transfer of subsidy accepted
├╝ NRHM allocation increased to
Rs 20,820 cr.
├╝ FM announces new equity savings
scheme
├╝ Rs 14000 crore for rural
drinking and sanitation in FY 13
├╝ Rs 242 crore project with
World Bank assistance to improve dairy production.
├╝ Credit guarantee fund for
education loans
├╝ National mission for food
processing
├╝ 6,000 schools proposed to be
set up in 12th year plan
├╝ 1 percent loan subsidy on
home loans up to Rs 15 lakh
├╝ New PDS for food security
├╝ Allocate Rs 14232 cr to UID
project
├╝ Set up state-run irrigation
facility
├╝ Remove infrastructure
bottleneck: FM
├╝ Budget commits to multi-brand
FDI
├╝ Tax free-infra bond for Rs
60,000
├╝ Allow ECB funding to finance
working capital needs of airlines for 1 year
├╝ Rs 30,000 crore to be raised
through disinvestment
├╝ To make 8,800 km of highways
in FY13; outlay raised
├╝ Irrigation, dams eligible for
a special fund
├╝ Tax exemption on individual
share investment below Rs 10 lakhs
├╝ Become self sufficient in
urea production in next 5 years
├╝ Some subsidies inevitable,
says Pranab
├╝ FM promises tax incentive for
new investors
├╝ Considering FDI in airlines
├╝ Infrastructure debt fund launched
├╝ Sensex trading 180 points
higher
├╝ Food subsidy will be fully
provided for in the Budget
├╝ Consortium for direct lending
approved
├╝ Implement direct tax code the
earliest
├╝ Focus on removing
infrastructure bottlenecks
├╝ Direct cash subsity to LPG,
Kerosene
├╝ Signs of turnaround in
economy in March
├╝ Address malnutrition
decisively
├╝ Bring down subsidy to 1.7
percent of GDP in the next 3 years
├╝ Economy to grow at 7.6
percent in 2012/13
├╝ Direct subsidy to retailers,
farmers
├╝ Address the problem of black
money; FM expects inflation will come down; Have to accelerate pace of reforms
├╝ Need to improve supply side
in economy says FM
├╝ Performance this year was
disappointing but as compared to peers India was better says FM
├╝ Weak industrial growth has
held us back says Pranab
├╝ Pranab Starts the budget
presentation. He syas for Indian economy it has been a year of recovery
interrupted.
├╝ DMK MPs not attending
Parliament for the Budget
├╝ Can Pranab Mukherjee take the
initiative to halt the deteriorating economic growth? Can he make this a significant
budget?
├╝ Rupee strengthens before
budget
├╝ Oil & Gas: expect status
quo to be maintained on customs and excise duties in the oil & gas sector
in the light of the sustained high losses on sales of subsidized petroleum
products at current retail selling price.
├╝ Nominal GDP growth of 14 to
14.5 percent is likely to be used for the budget arithmetic
├╝ In the fertilizer and
chemical sector, there is an expectation that the customs duty on various
inputs like LNG, Naphtha, Alcohol, Propylene etc will be removed from current
rate of 5 percent.
├╝ In the automobile sector, the
expectation is that there will be an increase in excise duty across segments
and also there is possibility of additional tax on diesel vehicles.