Sectors catering to rural consumption demand, education, housing, infra and lending will benefit, given the FM’s mandate to facilitate growth in the hinterland. Here are the sectors, impact of Union Budget 2013 on them and their concerns along with the top trading picks for investors…
The government has been trying to make the tax laws simpler every year; however, there are numerous amendments required in the tax laws. The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013 and the finance minister has promised many reforms expected to combat inflation along with stable tax rates. There may also be some changes in the tax slabs to provide some relief from the ever-growing inflation. Here are a handful of the number of amendments expected and predicted by analysts in the Union Budget for 2013-2014.
Click here to read more on Union Budget 2013…
Let us examine the effect of the Indian Budget 2010 on the Auto Sector. The Auto Sector is one of the fastest evolving and dynamic sector. With lot of foreign players coming in and the indian manufacturers giving them a tough time it is all the more crucial to understand how the budget will impact this sector…click here to read ahead
The Union Budget 2010 has been bullish for the healthcare sector. The government increased the outlay to the healthcare sector to Rs. 22,300 crore from Rs. 19,534 crore.
Vishal Bali, CEO, Fortis Hospitals, said that in a budget that provides 46% of plan allocation for infrastructure, not finding healthcare on the agenda of the finance minister takes another year away in bridging the affordability and accessibility gap in the sector. An increase of 14% in the overall outlay for the Health Ministry does not really pave the way for a 1-2% increase in GDP spend by the government on healthcare…click here to read ahead
The post contains the highlights of the union budget 2010. Though it is still exhaustive but tried to make it simple
UNION BUDGET 2010-11
* Online news agencies to attract service tax
* Service Tax rates unchanged
* Account auditing for all income above Rs 15 lacs
* More services to be brought under tax net
* Rationalisation of customs duty on gaming software
* Toys exempted from excise duty, to become cheaper
* Jewellery to be more expensive
* Monorail granted project import status
* CDs to be cheaper
* Excise duty on CFL halved to 4%
* Customs duty on Gold and Platinum hiked
* Refrigerators to be costlier
* Televisions to be costlier
* Mobile phones to become cheaper
* Peak customs duty unchanged at 10%
* Cement to be costlier
* Air conditioners to be costlier
* Oppostion walkout in Lok Sabha
* Uproar in Parliament over hike in fuel prices
* Excise on all non smoking tobacco raised
* 7.5% duty on petrol and diesel restored
* 5% duty on crude petroleum restored
* Fuel prices likely to go up
* Excise duty on petrol and diesel raised to Rs 1/litre
* Cigarettes to be costlier
* Excise on large cars,SUVs, MUV raised to 22%
* Partial rollback in Excise Duty from 10% to 8%
* Excise on large cars,SUVs, MUV raised to 22%
* Presumptive tax limit raised to Rs 60 lacs
* Investment linked deduction benefit for 2 Star hotels
* 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%
* Minimum Alternate tax hiked to 18%
* 30% tax on income above Rs 8 lacs
* 20% tax on income between Rs 5 lacs to 8 lacs
* 10% tax on income between Rs 1.6 lacs to 5 lacs
* IT tax slabs broadened
* IT dept to notify Saral 2 form for individual tax payers
* 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
* 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
* 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 allocated for MSMEs
* 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 Awas Yojna
* Rs 1200 Crs assistance for drought in Bundelkhand
* Rs 48000 Crs for Bharat Nirman
* 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
* Calibrated exit strategy for fiscal stimulus
* Need to review stimulus, go back to fiscal prudence
* Significant private investment inflow expected to boost GDP
* Economy can achieve GDP growth of 10%
* India faces a challenge of reverting to double digit growth
* FY 2009-10 was a challenging year
* Need to improve food security and healthcare systems
* Indian economy in far better position than last year, says Pranab
* Pranab Mukherjee starts Budget speech
* Pranab Mukherjee arrives in Parliament
* Parliament to convene at 11 am
* All eyes on stimulus rollback
* Pranab Mukherjee reaches North Block
Pranab Mukherjee, for the first time in recent years, has laid out a road map for agricultural recovery and progress based on integrated attention to the conservation of the ecological foundations essential for sustainable agriculture, cultivation based on the principles of conservation and climate-resilient farming, consumption with attention to food safety and quality, and farmer-centric commerce. For the first time also, he has addressed the issue of increasing feminisation of agriculture by proposing a Mahila Kisan Sashaktikaran Pariyojana with an initial outlay of Rs. 100 crore…click here to read ahead
Let us see what the union budget 2010 has in store for the Telecom Sector. Telcos were looking at a rationalisation of tax and levies, uniform license fee of one per cent of the AGR. Telcos wanted a re-look at direct tax, tax holidays and section 81 (A), a re-look at licenses and indirect taxes. As far as infrastructure products are concerned, oeprators were hoping for a boost in telecom infrastructure and wanted telecom to be included as part of infrastructure, so that all tax holidays applicable to infrastructure are applicable to telecom. Telcos wanted FM to remove bank guarantees for telecom…click here to read ahead
