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Certificate in Quantitative Finance

UNION BUDGET HIGHLIGHTS 10-11 - MUST WATCH

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)

26 February 2010

Friends this is a chance to discuss the budget here itself...

Please post whatever new u get....

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148 Replies

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

NREGA scheme allocation raised to Rs 41000 Crs
Allocation to health Rs 22,300 Crs
25% of plan allocation for rural infrastructure
Social sector spending seen at Rs 1.38 lakh Crs
Allocation for school education up from Rs 26800 Crs to Rs 31036 Crs
Allocation to power sector at Rs 5130 Crs
Rs 200 Crs for Tamilnadu textile sector
One time grant for Tirupur exports
Draft food security Bill ready
Clean energy fund to be established
Allotment for renewable energy hiked by 61%
Coal regulatory authority to be set up
Road development hiked to Rs 19894 Crs
Rs 1.73 lakh Crs, which is 46% of total plan outlay, reserved for infrastructure development
2% loan subsidy to farmers
Farm credit targets to be increased to Rs 3.75 lakh Crs
Farm loan payments to be extended for six months
Interest subvention of 2% to be extended for handicrafts and SMEs
Rs 300 Crs for agricultural impetus
Additional Rs 1,65,000 Crs for bank re-capitalisation
Intrest subvention for exports to extended for one year
RBI may give banking licenses to Pvt cos and NBFCs
FDI policy to be made more user-friendly
To discuss Kirit Parikh report in due course
Fertiliser subsidy to be reduced
Divestment target of Rs 25,000 Crs
GST to be implemented from 2011
Hope to implement Direct Tax Code from April 2011

1 Like

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CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

Social Security Fund to have corpus of over Rs 1000 Crs
National Social Security fund for unorganised workers
Intrest subvention for housing loans up to 1 lacs
Rs 10,000 Crs allocated for Indira Awaas Yojna
Rs 1200 Crs assistance for drought in Bundelkhand
Rs 48000 Crs for Bharat Nirman

2 Like

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

Pvt sector to meet food grain storage deficit
Rs 100 Cr woman farmer fund scheme
Rs 1900 Crs allocated for UID project
Skill development programme for textile sector
Home loans up to Rs 20 lacs to get intrest subvention of 1% up to March 11
Government to contribute Rs 1000 per month for pension security
Rs 5400 Crs allocated for urban development
Rs 66100 Crs allocated for rural development
Rs 2400 Crs for MSMEs

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

FY12 fiscal deficit target at 4.8%
FY13 fiscal deficit target at 4.1%
More than 50% increase in funds for minority welfare
Fiscal deficit target of 5.5% in FY11
15% rise in planned expenditure
Govt to set up National Mission for delivery of justice
Gross tax receipts Rs 7.46 lac Crs
Defence capex raised to Rs 60000 Crs
Allocation to defence raised to Rs 1.47 lac Crs

3 Like

vidyasagar (--) (5069 Points)
Replied 26 February 2010

direct tax code and GST to be implemented by 1st april 2011

Aisha (Finance Professional) (5932 Points)
Replied 26 February 2010

new tax slab : nil tax till 1.6 lac , 10% till 5 lac , 20% till 8 lac , 30% above tat

2 Like

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

Aisha, r u sure about the tax slab u gave???????

shashank (ss) (303 Points)
Replied 26 February 2010

Interest subvention of 2% to be extended for handicrafts and SMEs

(Guest)

thanks for the information

1 Like

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

IT exemption limit enhanced, surcharge withdrawn
FY11 net market borrowings pegged at Rs 3.45 lac Crs
20 Kms of highway to be constructed everyday
FY10 budget deficit seen at 6.9% of GDP

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

Minimum Alternate tax hiked to 18%
30% tax on income above Rs 8 lacs
20% tax on income between Rs5 lacs to 8 lacs
10% tax on income between Rs1.6 lacs to 5 lacs

CA Manasa (CA) (1479 Points)
Replied 26 February 2010

Corporate tax surcharge down from 10 to 7.5%

Rs 20,000 additional tax break for infra bonds

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)
Replied 26 February 2010

Deduction of Rs 20000 on investment in infra bonds
Weighted deduction on R&D raised to 200% from 150%
No tax on Income up to Rs 1.6 lacs
Current surcharge on companies reduced to 7.5%

Aisha (Finance Professional) (5932 Points)
Replied 26 February 2010

MAT increased from 15percent to 18 percent.

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