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PRESENTATION

ON

UNION BUDGET

2010-11

Presented by,Jitendra Gupta

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MAIN ARE OF FOCUSING

focusing on agriculture growth, andinfrastructure. The corporate, banking andagriculture sectors got a major boost in the

Union Budget 2010

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VISION & OBJECTIVE: GDP Growth to be targeted at 9%

Target of Rs 25,000 cr disinvestment this year

Direct Tax Code and GST will be implemented

from April 1, 2011 Fertilizer Subsidy to be reduced

FDI Regime to be simplified

Inflation Rate to be lowered in 2 Months 2% interest subvention for Exports extended for

one year

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BANKING: More Private Banks to be encouraged

Additional Banking License to Private Players

FY10 Capital for PSU Banks stand at Rs 16,500

crore Rs 1,200 crore to be allocated to PSU Banks

Rural Banks to be supported

Banks to get Rs 6,000 crore to improvefundamental structure

Banks for all villages with a population of 2,000

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INFRASTRUCTURE Rs. 1.37 lakh crore for Infrastructure Development Railways to be allocated Rs 16,772 crore Road Development allocation increased to 19,894 crore 20 km National Highway to be built everyday Proposal to hike allotment for renewable energy by 61% More than double allocation for Power Sector to 5,130 cr NREGA Allocation at Rs 40,100 crore Rs 1200 crore package for drought-hit Bundelkhand Ganages - Rs 500 crore

Bharat Nirman Yojna - Rs 48,000 crore Solar Energy - Rs 1,000 crore To set up 20,000 MW Solar Power by 2022

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AGRICULTURE

More help to Food Processing Sector Rs 400 crore to be allocated for Green Revolution in

Eastern India Rs 300 crore for Rashtriya Krishi Vikash Yojna

Extend Loan Repayment for drohught-hit Farmers Farmers, who repay loan on time, will get a waiver of 2% Farmers to get Loans at 5% To extend farm loan repayment by 6 months

Agriculture Loan for Farmers increased to Rs 3,75,000crore New Food Policy from April 1, 2010 Rs 300 crore to be allocated for Pulse Production

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EDUCATION: Allocation for School Education increased

from Rs 26,800 crore to Rs 31,036 crore

Allocation for Health at 22,300 crore

Sarva Sikha Abhiyaan - Rs 36,000 crore

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URBAN DEVELOPMENT & HOUSING:

Rs 5,400 crore for Urban Development - hikeof 75%

Rs 61,000 crore for rural Development

Indira Awas Yojna to get Rs 10,000 crore

House Loans up to Rs 10 lakh - 1% subsidyextended for one year

Focus on Slum Development

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TECHNOLOGY:

Unique ID to be given on time

Rs 19000 crore allocated for Unique IDProject

Rupee to have new Symbol. A new lookRupee to come up soon.

Tech Advisory Group to set up under NandanNilekani

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PLAN & EXPENDITURE: Gross Tax Receipts - Rs 7.46 lakh crore

15% rise in plan expenditure

Fiscal Deficit for FY 2010 revised to 6.9% ofGDP

Fiscal Deficit - 5.5% for FY 2011

Fiscal Deficit - 4.8% for FY 2012

Defence Allocation - Rs 147,344 crore

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TAXATION:IN CASE OF INDIVIDUAL.DOCX No increase in Exemption Limit for the Taxpayers Tax Slabs changed1) Income up to Rs. 1.6 lakh - nil2) Income from Rs. 1.6 lakh - Rs 5 lakh - 10% tax

3) Income from Rs 5 lakh - 8 lah - 20% tax4) Income of above Rs 8 lakh - 30% tax 60% of the taxpayers to be benefited Rs. 20,000 tax exemption for investment in infrastructure bonds. Tax Exemption under 80c will be Rs 1.2 lakh instead of Rs 1 lakh Corporate Surcharge reduced from 10% to 7.5% MAT (Minimum Alternative Tax) increased to 18% from 15%

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Excise Duty hiked from 8% to 10% Service Tax remained at 10% No Service Tax on News Agencies

R&D deduction hiked CET (Central Excise Tariff) on Petroleum

Products hiked by Rs 1 Petrol, Diesel Prices to go up

Partial Rollback on Excise Duty on Cement,Large Cars

Cement and Large Cars to be costlier

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Tax rejig to raise ULIP returns

Service tax on charges levied by life insurers on Ulipinvestors has been reworked. Returns will rise a little asmore money out of premium gets invested. Property and

overseas mediclaim premium may rise due to service taxon non-life insurance companies.

Service tax on mediclaim premium

Service tax on health claims will be settled by insurersdirectly with hospitals. Insurers will recover the moneyfrom policyholders. Health insurance costs may rise ifinsurers are not allowed to offset the tax against servicetax on premium.

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Infra bonds any takers?

Infrastructure bonds are not great products with interest as low as5.5-6% and money locked in for 5-10 years. But thats the onlyoption to save more than Rs 1 lakh by way of tax if you dont havea housing loan (which entitles you to Rs 1.5 lakh more). If youhave an extra Rs 20,000, go for it.

Service tax to hit home buyers

Service tax will be charged if the builder does not produce thecompletion certificate. Booking a Rs 1-crore apartment before itscomplete, will mean a Rs 3-lakh tax over and above the value-added tax (VAT) collected by states. Genuine home buyersshould insist on the certificate

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