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| Home > HIGHLIGHTS OF UNION BUDGET 2010-11 |
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| HIGHLIGHTS OF UNION BUDGET 2010-11 |
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HIGHLIGHTS OF UNION BUDGET 2010-11
- Economic growth in 2009-10 may turn out to be higher than 7.2%
- Clean energy cess of Rs. 50 per tonne on coal produced in India
- Coal regulatory authority to be set up
- Fertilizer subsidy to be reduced
- Listing of PSUs will improve corporate governance
- National Clean Energy Fund to be set up
- Government must deliver to lesser privileged sector
- RBI considering additional licences to private companies
- Allocation for roads raised by 13%
- Rs. 200 crore to Goa to preserve its beaches and its green cover
- 46% of total plan dedicated to infrastructure
- School education allocation hiked to Rs. 31,036 crore
- Food Security Bill to be put up for public debate
- Rs. 400 crore for green revolution in Bihar, Jharkhand, West Bengal and Orissa
- No big increase in NREGA allocation
- Housing interest subsidy to be extended by 1 year
- New symbol for Indian rupee this year
- More than 50% increase in allocation for minority welfare
- Rs. 1,900 crore for Unique ID Authority of India
- Four per cent hike in defence budget
- Government committed to growth of SEZs
- Involvement of private sector in grain storage to continue for another two years
- Five more mega food processing projects in addition to 10 existing ones
- Government set in motion steps to bring down food inflation
- New fertiliser policy from April 2010; will lead to improved productively and more income for farmers
- Apex level financial stability council to be set up for banking sector
- Indian Banking Association to give additional licences to private players
- Rs. 35,000 crore raised from divestment in 2009-10; will be higher in 2010-11
- Economy stabilised in first quarter of 2009-10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account
- Export figures for January encouraging
- Hope to breach 10 percent growth mark in not too distant future
- Need to review stimulus package; need to make growth more broad-based
- Provision for further capital for regional rural banks
- Fiscal deficit 6.9% in 2009
- Financial Sector Reforms Commission to be set up
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| Foreign Direct Investment |
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- FDI regime has been simplified by the government
- FDI flows in April-December 2009 $20.9 billion
- FDI policy to be made more user-friendly with one comprehensive document
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| Taxation - Indirect |
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- Goods and Services Tax delayed, now from April 1, 2011.
- Excise duty on high-end cars raised by 2% to 22%
- Excise duty on petrol, deisel hiked by Re. 1
- Tax on cigarettes, cigars and chewing tobacco increased
- Gold, platinum to become costlier
- Basic duty of 5 percent on crude oil restored
- Toys fully exempt from central excise duty
- Mobile accessories, medical equipment energy efficient CFL lamps, set top boxes, compact disc, toys and books will be cheaper on account of some tax concessions
- Partial roll back of reduction in central excise duty
- Concessional customs duty of 5 percent for cable TV operators for importing equipment
- Accredited news agencies exempt from service tax
- Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011
- Accredited news agencies exempt from service tax
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