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Home > HIGHLIGHTS OF UNION BUDGET 2010-11
HIGHLIGHTS OF UNION BUDGET 2010-11
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
Foreign Direct Investment
  • 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
Taxation - Indirect
  • 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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