Here is the budget summary:
Direct tax receipts to fall by Rs 56,000 cr
Standard excise rate up from 8 to 10%
Large cars, SUVs excise up to 22% from 20%
Sops for real estate, housing projects extended by a year
Partial roll back the rate reduction in central excise
Direct tax scheme to result in revenue loss of Rs 26,000 cr
Compliance burden reduced on professionals and entrepreneurs
Corporate tax surcharge down from 10 to 7.5%
New income tax slabs will bring relief to the middle class
Rs 20,000 additional tax break for infra bonds
Minimum Alternate Tax hiked to 18%
R&D allocation increased 200%
To unveil new Saral 2 form for salaried individuals in two pages
Deduction of additional 10% for investment on infrastructure bonds
Tax slabs: Broadening 1.6 lakh - Nil above 1.6 lakh-up to 5 lakh 10%
5-8 lakh- 20% above 8 lakh- 30%
Tax paying interface to be de-cluttered
States to be offered assistance to computerise commercial taxes
Greater transparency in tax administration targeted
Centralized Tax Centre at Bengaluru fully functional
Fiscal deficit at 5.5% for FY'11
Rolling target for fiscal deficit 4.2%
Gross tax receipts at Rs 7.46 lakh cr
New symbol for Indian Rupee
Tech advisor group under Nandan Nilekani
Allocation for development of micro and small scale sector raised from Rs 1,794 cr to Rs 2,400 cr
Rs 2,600 cr for Minority Affairs Ministry
To create 50 cr skilled workers by 2022
Rs 1,900 cr to UID authority allocated
First set of UID to be issued by this year
Rs 19,484 cr allocated for road development, to build 20 km of highway every day
Subsidy for affordable housing extended
Skill development programme for textile and garment sector
Pvt sector to meet deficit in grain storage
50% increase in women & child development allocation
Development of rural infra remains high priority area
Power sector allocation doubled to Rs 5130 cr
Rs 400 cr corpus for micro-finance scheme
National pension scheme allocation increased
States to get Rs 3,675 crore for primary education at rural level
Rs 400 cr corpus for micro-finance scheme
NREGA allocation to Rs 40,100 crore
National Social Security fund to be set up for unorganized sector
Urban Development allocation to be raised by 75 per cent
20,000 mw of solar power by 2022
Rural development allocation to Rs 61,000 cr
Indira Awaas Yojana allocation raised in proportion to plain and hill area housing
Development of rural infra remains high priority area
Social sector spending at Rs 1.38 lakh cr for FY11
Rs 500 cr for Clean Ganga Mission
Rs 66, 100 cr for rural development in FY10-11
Allocation for school education up from Rs 26, 800 crore to Rs 31, 036 cr
Rs 22, 300 crore allocated for Health Ministry
Coal regulatory authority proposed
Rs 300 cr for Rashtriya Krishi Vikas Yojana
Bank farm loan target: Rs 3.75 lakh crore
Rs 200 cr To Tamil Nadu for textiles
Need to take firm view on opening up of the retail sector
National clean Energy Fund to be set up
Rs 200 crore to Goa as a special golden jubilee package to restore beaches and increase green cover
Extend loan payment by calamity hot farmers
Rs 400cr for four-part strategy for agriculture
2% interest subvention for exports extended
Additional banking licenses for pvt players
4 pronged strategy for agriculture
Rs 16,500 cr capital support for PSU banks
Will consider Parikh report on fuel pricing
Goods and services tax to be introduced in 2011
Fertiliser subsidy to be reduced
GDP growth for FY'10 is seen at 7.2 pc
Rs 25,000 cr disinvestment target this year
India weathered economic crisis well
Direct tax code to be implemented from April 1, 2011
Gradual phasing out of economic stimulus
Pvt investment can sustain 9 pc growth
First challenge: Return to GDP growth
Manufacturing growth highest in the past 2 years
Indian economy is in a far better position today
FM is expected to simplify tax laws in 2010
Biggest challenge is to make the growth all inclusive
Need to strengthen food security
Pranab: Indian economy has stood through the test of time
Economic growth slows down to 6 pc in Q3
Finance Minister presents Budget 2010
Pranab Mukherjee presents his 5th Union Budget
Finance Minister Pranab Mukherjee reaches Parliament
Inflation is forecast to reach 10 percent in coming weeks
Government borrowing was forecast to rise by another 2.2 percent
Economists forecast India may cut its fiscal deposit to 5.6% of GDP
Direct tax scheme to result in revenue loss of Rs 26,000cr
R&D Corp Tax break up to 200%
Corporate tax surcharge down from 10 to 7.5%
Rs 20,000 additional tax break for infra bonds
Corp Min Alternate Tax up from 15 to 18%
New income tax slabs will bring relief to the middle class
Direct tax slabs: income upto 1.6 lakh = nil, 1.6-5 lakh = 10%, 5-8 lakh = 20%,
above 8 lakh = 30%
Centralized Tax Centre at Bengaluru fully functional
Gross tax receipts Rs 7.46 lakh crore
Deferment of goods & service tax negative for corporates in FY10-11
Direct tax to be implemented from April 1, 2011
Simple tax system with minimum exemptions near completion
Indirect taxes will continue to be in focus
Fiscal consolidation likely to be key driver
Mutual fund industry for removal of double taxation
Excise duty, service tax may go up by 2%
IT sector looks for additional tax benefits
Pharma cos want extended tax relief for R&D
Banking stocks up, react to banking expansion plans
Markets up by 100 points
Fertilizer stocks up, react to reduction of subsidy
11.30am: BSE Sensex, Nifty up by 0.5%
Markets react positively to Pranab speech
9am: BSE Sensex at 16,296.59, 0.26%
9am: NSE index at 4,880.55 0.4%
Fertilisers to be costlier after the reduction in subsidy
High fuel prices added to inflation: Pranab
Pranab Mukherjee said the govt would initiate action to bridge the gap between wholesale and retail prices.
Govt promises to tackle food inflation in budget
Calls for fiscal discipline have gained urgency as inflation is forecast by some economists to reach 10 percent in coming weeks as high food prices fuel broader inflation expectations.
Standard excise rate up from 8 to 10%
Large cars, SUVs excise up to 22% from 20%
Sops for real estate, housing projects extended by a year
Partial roll back the rate reduction in central excise
Direct tax scheme to result in revenue loss of Rs 26,000 cr
Compliance burden reduced on professionals and entrepreneurs
Corporate tax surcharge down from 10 to 7.5%
New income tax slabs will bring relief to the middle class
Rs 20,000 additional tax break for infra bonds
Minimum Alternate Tax hiked to 18%
R&D allocation increased 200%
To unveil new Saral 2 form for salaried individuals in two pages
Deduction of additional 10% for investment on infrastructure bonds
Tax slabs: Broadening 1.6 lakh - Nil above 1.6 lakh-up to 5 lakh 10%
5-8 lakh- 20% above 8 lakh- 30%
Tax paying interface to be de-cluttered
States to be offered assistance to computerise commercial taxes
Greater transparency in tax administration targeted
Centralized Tax Centre at Bengaluru fully functional
Fiscal deficit at 5.5% for FY'11
Rolling target for fiscal deficit 4.2%
Gross tax receipts at Rs 7.46 lakh cr
New symbol for Indian Rupee
Tech advisor group under Nandan Nilekani
Allocation for development of micro and small scale sector raised from Rs 1,794 cr to Rs 2,400 cr
Rs 2,600 cr for Minority Affairs Ministry
To create 50 cr skilled workers by 2022
Rs 1,900 cr to UID authority allocated
First set of UID to be issued by this year
Rs 19,484 cr allocated for road development, to build 20 km of highway every day
Subsidy for affordable housing extended
Skill development programme for textile and garment sector
Pvt sector to meet deficit in grain storage
50% increase in women & child development allocation
Development of rural infra remains high priority area
Power sector allocation doubled to Rs 5130 cr
Rs 400 cr corpus for micro-finance scheme
National pension scheme allocation increased
States to get Rs 3,675 crore for primary education at rural level
Rs 400 cr corpus for micro-finance scheme
NREGA allocation to Rs 40,100 crore
National Social Security fund to be set up for unorganized sector
Urban Development allocation to be raised by 75 per cent
20,000 mw of solar power by 2022
Rural development allocation to Rs 61,000 cr
Indira Awaas Yojana allocation raised in proportion to plain and hill area housing
Development of rural infra remains high priority area
Social sector spending at Rs 1.38 lakh cr for FY11
Rs 500 cr for Clean Ganga Mission
Rs 66, 100 cr for rural development in FY10-11
Allocation for school education up from Rs 26, 800 crore to Rs 31, 036 cr
Rs 22, 300 crore allocated for Health Ministry
Coal regulatory authority proposed
Rs 300 cr for Rashtriya Krishi Vikas Yojana
Bank farm loan target: Rs 3.75 lakh crore
Rs 200 cr To Tamil Nadu for textiles
Need to take firm view on opening up of the retail sector
National clean Energy Fund to be set up
Rs 200 crore to Goa as a special golden jubilee package to restore beaches and increase green cover
Extend loan payment by calamity hot farmers
Rs 400cr for four-part strategy for agriculture
2% interest subvention for exports extended
Additional banking licenses for pvt players
4 pronged strategy for agriculture
Rs 16,500 cr capital support for PSU banks
Will consider Parikh report on fuel pricing
Goods and services tax to be introduced in 2011
Fertiliser subsidy to be reduced
GDP growth for FY'10 is seen at 7.2 pc
Rs 25,000 cr disinvestment target this year
India weathered economic crisis well
Direct tax code to be implemented from April 1, 2011
Gradual phasing out of economic stimulus
Pvt investment can sustain 9 pc growth
First challenge: Return to GDP growth
Manufacturing growth highest in the past 2 years
Indian economy is in a far better position today
FM is expected to simplify tax laws in 2010
Biggest challenge is to make the growth all inclusive
Need to strengthen food security
Pranab: Indian economy has stood through the test of time
Economic growth slows down to 6 pc in Q3
Finance Minister presents Budget 2010
Pranab Mukherjee presents his 5th Union Budget
Finance Minister Pranab Mukherjee reaches Parliament
Inflation is forecast to reach 10 percent in coming weeks
Government borrowing was forecast to rise by another 2.2 percent
Economists forecast India may cut its fiscal deposit to 5.6% of GDP
Direct tax scheme to result in revenue loss of Rs 26,000cr
R&D Corp Tax break up to 200%
Corporate tax surcharge down from 10 to 7.5%
Rs 20,000 additional tax break for infra bonds
Corp Min Alternate Tax up from 15 to 18%
New income tax slabs will bring relief to the middle class
Direct tax slabs: income upto 1.6 lakh = nil, 1.6-5 lakh = 10%, 5-8 lakh = 20%,
above 8 lakh = 30%
Centralized Tax Centre at Bengaluru fully functional
Gross tax receipts Rs 7.46 lakh crore
Deferment of goods & service tax negative for corporates in FY10-11
Direct tax to be implemented from April 1, 2011
Simple tax system with minimum exemptions near completion
Indirect taxes will continue to be in focus
Fiscal consolidation likely to be key driver
Mutual fund industry for removal of double taxation
Excise duty, service tax may go up by 2%
IT sector looks for additional tax benefits
Pharma cos want extended tax relief for R&D
Banking stocks up, react to banking expansion plans
Markets up by 100 points
Fertilizer stocks up, react to reduction of subsidy
11.30am: BSE Sensex, Nifty up by 0.5%
Markets react positively to Pranab speech
9am: BSE Sensex at 16,296.59, 0.26%
9am: NSE index at 4,880.55 0.4%
Fertilisers to be costlier after the reduction in subsidy
High fuel prices added to inflation: Pranab
Pranab Mukherjee said the govt would initiate action to bridge the gap between wholesale and retail prices.
Govt promises to tackle food inflation in budget
Calls for fiscal discipline have gained urgency as inflation is forecast by some economists to reach 10 percent in coming weeks as high food prices fuel broader inflation expectations.
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