StudyCafe.in: Union Budget 2012-13 |Helping Hand of Professionals

Budget 2012-13:

Exemption up to Rs 2 lakh for individuals

Income up to 2 lakhs - Nil
Rs. 2-5 lakhs - 10 per cent
Rs. 5 lakhs -10 lakhs 20 per cent
Rs. 10 lakhs and above 30 per cent

GST will be operational by August 2012
Excise duty hiked from 10 per cent to 12 per cent
Service Tax hiked from 10 per cent to 12 per cent
Basis Exemption Limit 2 Lakhs
No change in corporate taxes, DTC Deferred Further
Global crude oil prices have crossed $115 per barrel
Food and fertiliser subsidy largest expenditure.
Fiscal deficit rose due to subsidy.
Decided to fully provide for food subsidy in the budget
FRBM implementation back on track
Aadhar-enabled payment of select government schemes in 50 districts
Rs 30,000 cr divestment target in FY 13
To bring down subsidy to 1.7 % of GDP in the next 3 years
To roll out computerized scheme for fertilizer subsidy transfer
The Nandan Nilekani panel recommendation on direct transfer of subsidy accepted
FY13 subsidy to be under 2% of GDP
Find ways to expedite implementation of decision, prompt delivery and good governance with transparency, while curbing black money and corruption
Remove bottlenecks in agriculture, energy, transport, coal, power and national highways
Ensure rapid rise in private investment
Frame policies that trigger domestic demand recovery
Direct cash subsity to LPG, Kerosene
Efforts to arrive at broadbased consensus with state governments on allowing FDI in multibrand retail up to 51 per cent
Direct transfer of subsidy for kerosene initiated
Direct Tax Code (DTC) Bill to be enacted at the earliest
To introduce Rajiv Gandhi [ Images ] Equity Scheme for retail investors
Tax incentive for new investors, These make sense when you consider that the share of household savings delpoyed in capital markets has come down sharply.
Changes in IPO norms to increase participation in small towns
Plan outlay for agriculture raised by 18% to Rs 20208 crore in FY 13
Rs 300 crore for intensified irrigation program
Retail stocks rally as Budget commits to multi-brand FDI
Telecom towers made eligible for viability gap funding
Agriculture credit target raised to Rs 5.75 lakh crore in FY13
Agriculture allocation increased to Rs 5,75,000 crore.
To allocate Rs 10,000 cr for NABARD to refinance RRBs.
To allocate Rs 10,000 crore for NABARD for refinancing RRBs
Government to set up Rs 5,000 crore venture fund for MSME sector
To allow ECB borrowing to part-finance power projects.
Agriculture credit target to be raised by Rs 1,00,000 crore to Rs 5,75,000 crore.
Kisan credit cards can now be used for ATM machines.
Change in IPO guidleines to promote small town participation
Will allow external commercial borrowing for power, housing road construction companies
To make 8,800 km of highways in FY13; outlay raised
Plan outlay raised 18% to Rs 20,208 cr for agriculture
Irrigation, dams to be eligible for special funding
Telecom towers made eligible for viability gap funding
Fuel supply constraints have hit power supplies nationally
Current account deficit 3.6 percent in 2011-12; this put pressure on exchange rate.
Advance Pricing Agreements in DTC to be in Finance Bill
Corporate market reforms to be initiated.
Allocation for national highways up 14 per cent. 8,800 km of highways to be developed under National Highway Development Project in 2012-13.
Encourage small and medium artisans. Powerloom mega clusters to be set up.
Foreign loans for low-cost housing projects.
Foreign loan cap raised for airlines.
To allow ECB funding to finance working capital needs of airlines for 1 year
External commercial borrowings to the extent of $ 1 billion to be allowed for aviation sector for next year.
Addressing malnutrition, black money and corruption in public life among five priorities in the year ahead.
Budget to provide Rs 15,888 crore for recapitalisation of PSU banks, regional rural banks.
Government examining new ways of providing subsidies for LPG, kerosene.
Tax exemption on individual share investment below Rs 10 lakh.
Govt to create Financial Holding company to meet financial needs of PSU banks.
Income Tax deduction of 50 per cent on investments of up to Rs 50,000 in savings scheme named after Rajiv Gandhi.
3-year lock-in period exemption under Rajiv Gandhi scheme.
Increase in investments in infrastructure through PPP.
Coal India advised to sign FSA with power plants
Infrastructure investment in 12th Plan to go up to Rs 50 lakh crore; half of it to come from private sector.
To allow qualified FII into domestic corporate bonds
Rs 15890 crore for recapitalisation of PSU banks
Extend RRB capitalisation for 2 years
Propose Central KYC depository
Full exemption from basic customs duty on natural gas, LNG, uranium for generation of electricity for two years.
Automated shuttle looms exempted from customs duty.
Full exemption on imported equipments for road construction projects.
Customs duty on import of parts of aircraft, tyres and testing equipment fully exempted.
Full exemption from basic customs duty for equipment for road and highway construction.
AC, fridge and most urban services to cost more.
Titanium dioxide customs duty cut to 7.5% from 10%.
Govt may table white paper on black money
Tax exemption of up to Rs 5,000 for health insurance for annual preventive health checkup.
No change in peak custom duty.
Rs 1000 cr for National Skill Development Fund in FY13.
Gross taxes estimated at 10.6 per cent of GDP.
Pranab proposes to bring white paper on black money in the current Parliament session.
Gross taxes estimated at 10.6% of GDP.
Exemption of customs duty of 5% on equipment for fertiliser plants.
Introduction of compulsory reporting of assets held abroad.
Withholding tax on external commercial borrowings reduced from 20 percent to five percent for power, airlines, roads, bridges, affordable houses and fertiliser sectors.
Government services, public transport exempted from service tax.
Common 1-page return for excise and service tax.
Propose common tax code for service tax and excise
Govt services, public transport exempt from service tax.
Service tax net widened; to include most sectors
Negative list to include pre-school and high school education, entertainment services.
Sale of residential property exempted from capital gains if invested in equity or equipment of an SME.
All services to be taxed except those in negative list.
No advance tax for senior citizens.
Health insurance deduction upto Rs 5000 for preventive health checkup.
FY13 market borrowing at Rs 4.79 lakh cr.
Information on black money stashed abroad has started flowing in, prosecution to be executed in some cases, says Pranab.
40 crore Aadhar enrollment in year beginning April 2012.
Net tax receipts of the Centre in 2011-12 stands at Rs 7,71,071 crore.
Rs 193,407 crore provision made for defence services in 2012-13.
To allot Rs 24,000 crore for rural road plan in FY13.
Rs 3,915 crore to be spent on National Rural Livelihood Mission.
Maternal and child nutrition scheme to be launched in 200 districts.
Agri credit target for FY13 at Rs 5.75 lakh cr, up Rs 1 lakh cr
To introduce new law for micro finance institutions
Defence outlay at Rs 1.95 lakh crore
Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
Govt aims to trim subsidy burden
Efforts on for consensus on 51% FDI in multi-brand retail
7 medical colleges to be upgraded to All India Institutes.
Rs 200 crore for Research Rewards for agricultural researchers for breakthroughs.
Mahatma Gandhi rural employment scheme has been positive.
ECB for Rupee-debt of power co positive for all power cos
Interest subvention of 7 per cent to women self groups for loans up to Rs 3 lakh, additional 3 per cent for those making timely repayment.
Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
FY13 National Social Assistance Scheme outlay at Rs 8447 crore
Rs 1,000 crore to be provided for National Skill Development Corporation in 2012-13
Integrated Child Development Scheme to be strengthened and restructured with allocation of Rs.15,850 crore.
Allocation of Rs.200 crore for research on climate change.
Rs 20,822 crore earmarked for National Rural Health Mission against Rs 18,115 crore this year.
Rs 20,000 crore to be spent on rural infrastructure development, including Rs 5,000 crore for creating warehousing facilities.
National Backward Region Grant scheme outlay raised by 22 per cent to Rs 12,040 crore.
Rural development fund of 20000 crores
NRHM allocation hiked to 20820 crores

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