Union Budget 2011-12 Part II

Union Budget 2011-12 Part II

• Allocation under Rashtriya Krishi Vikas Yojana to be raised to Rs 7860 crore
• Farm credit flow raised to Rs 4.75 lakh crore
• Removal of supply bottlenecks in food sector in focus in 2011/12
• To allow Rs 300 bn tax free bonds for railways, NHAI
• Infrastructure spending to be raised by 23%
• To set up 15 mega food parks
• GST Bill to be introduced in parliament this year
• Policy on Narcotic drugs is good for Piramal Healthcare
• To allocate Rs 580 bn to Bharat Nirman projects
• A new scheme to be introduced for refund of service tax on lines of drawback of duties
• To classify capex of fertilizer sector into infrastructure
• To allocation Rs 210 bn to primary education, up 40%
• Realty stocks gain as FM extends interest subvention
• To classify capex of fertilizer sector into infrastructure
• To allocation Rs 210 bn to primary education, up 40%
• Realty stocks gain as FM extends interest subvention
• Edible oil cos rise on allocation of Rs 300 cr
• To provide Rs 2 bn grant to IIT Kharagpur, Rs 200 mn to IIM Calcutta
• To extend National Health Scheme to workers in mining sector
• Aptech up 2.37%, Navneet up 2.69%, Educomp down 0.5%, Zee Learn up 3.6%
• 100% salary hike for Anganwadi teachers
• DTC after getting Standing Committee Report
• FIIs will be allowed to invest in mutual funds schemes
• Remuneration of anganwadi workers raised from Rs 1500 to Rs 3,000/month. Helpers to get Rs 1,500 from Rs 750
• To allocate Rs 26,760 to health sector
• To give Rs 80 bn to J and K for development needs
• To give Rs 80 bn to Northeast and special states
• Allocation to Department of Justice increased 3 fold to Rs 30 bn
• FY12 defense capex seen at Rs 69,199 crore
• Direct Tax Code likely to be passed by parliament next fiscal year
• Old age pension to persons of over the age of 80 raised from Rs 200 to Rs 500
• Allocation for defense at Rs 1.64 lakh crore
• Nifty gains momentum; PSU, realty, oil and gas up
• To amend Indian Stamp Act shortly
• To simplify tax form for small businesses
• Age reduced for BPL pension eligibility
• Allocation for health sector up 20%
• Plan expenditure at Rs 4.14 lakh crore
• To provide Rs 580 bn for Bharat Nirman projects
• Gross Tax Receipts at Rs 9.32 lakh crore, up 25%
• 11th plan expenditure up 100% in nominal terms
• Fiscal deficit down at 5.1% from 5.4%
• Fiscal deficit seen at 4.6% for FY 11-12
• Revenue deficit for FY11 seen at 3.4%
• Age for being classified as senior citizen cut to 60 years from 65 years
• Exemption IT limit raised to Rs 1.8 lakh from Rs 1.6 lakh
• Revenue deficit for FY11 seen at 3.4%
• Fiscal deficit seen at 4.1% in FY 13, 3.5% in FY 14
• Surcharge on domestic companies cut to 5% from 7.5%
• Special Economic Zones to come under MAT
• Tax sops of Rs 20,000 on Infra Bonds extended for one year
• Bond yields inch up as social spending rises
• Foreign unit dividend tax rate cut to 15% for Indian companies
• To withdraw 130 items from exemption under Central Excise
• Central excise duty rate unchanged at 10%
• Service tax retained at 10%
• Direct Tax proposals net loss estimated at Rs 115 billion
• BSE Indices: MIDCAP index up 0.38%, Small cap index up 0.66%, BSE 500 index up 0.71%, PSU index up 1.96%, Oil & Gas index up 1.79 %
• Nifty up 0.30 %, CNX IT up 0.35 %, CNX 100 up 0.22%, CNX Midcap up 0.57 %, CNX Infra up 0.23 %, CNX Realty up 0.67 %, CNBank Nifty down 0.62%
• Base rate on excise duty raised to 5% from 4%
• Net tax to Centre will be Rs 6,64,457 cr. Non-tax receipts pegged at Rs 1,25,435 cr
• FY 12 fiscal deficit seen at Rs 4.12 lakh crore
• Budget estimates for 2011-12 projects Rs 9,32,440 crore – an increase of 24%
• No new tax exemption limits for women
• Education firms up 3-5% on higher allocation
• Unified ad valorem rate of 10% for iron ore
• He concludes by saying DTC, GST to help moderate taxes