Complete Budget 2009 Higlights
- Excise duty on fibre for cheaper cloth reduced
- Service tax to be levied on law firms
- Excise duty on petrol-driven small trucks reduced to 10%
- Exemption of duty on goods made at construction sites restored
- Drugs for heart diseases to become cheaper
- Customs duty on gold and silver import increased
- Mobile phone accessories to become cheaper
- Branded jewellery for women to become cheaper
- Sens*x crashes 600 points
- Customs duty on bio-diesel reduced
- Tax holiday extended for textile units
- Small businesses exempt from advance tax
- Custom duty on LCD panels halved
- Set-top boxes to cost more
- Anonymous funds to charitable bodies to get some tax relief
- Commodities Transaction Tax to be scrapped
- MAT hiked to 15% of book profit
- Fringe Benefit Tax to be scrapped
- 10 pc surcharge on personal income tax scrapped
- Hike in IT exemption for women to Rs 1,90,000
- Hike in IT exemption to Rs 2,40,000 for senior citizens
- General Sales Tax model will have a Central GST and State GST
- Share of direct taxes has increased to 56 per cent in 2008-09
- GST to come into effect from April 01, 2010
- Corporate tax unchanged
- New tax code to be set up in 45 days
- Goods and Services Tax to be introduced from April 1, 2010
- Govt committed to tax reforms
- Total budget expenditure for 2009-10 will Rs 10,28,032 cr
- Plan expenditure, for both Centre and States, to go up by Rs 61,000 cr
- Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
- Higher public investment in infrastructure
- Defence outlay has gone up
- Rs 1,000 cr for Aila rehabilitation to West Bengal
- Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
- Rs 2,113 cr for IITs and NITs
- Funds for GSI to enhance exploration of minerals
- New pension benefits for 12 lakh jawans and JCOs
- Pension of non-commissioned officers to be hiked
- Allocation for rehab of Lankan Tamils
- One lakh dwelling units for paramilitary forces to be built
- Commonwealth allocation hiked to Rs 3472 crore
- Allocation of Rs 50 cr to Chandigarh University
- Govt to hike allocation to National Ganga Project to Rs 562 cr
- One rank, one pension for ex-servicemen from July 1
- Allowances to para-military forces at par with defence forces
- Unique Identification ID project to roll out in 12-18 months
- Unique Identification ID project to tap private talent
- Allocation for NRHM to be raised by Rs 257 cr
- National action plan on climate change
- Full interest subsidy for students in approved institutions
- Modernisation of national employment exchanges
- 50% cent of rural women in self-help groups
- Rural mega clusters in Bengal and Rajasthan
- Interest subsidy for home loans up to Rs 1 lakh
- Interest subsidy on education loans
- Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore
- Rs 2,000 cr for rural housing fund under National Housing Bank
- National Mission for female literacy
- NREGA allocation up 144%
- Work on National Food Security scheme for subsidised food
- Rs 100 cr one-time grant to expand banks in unbanking areas
- Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
- Allocation for PM Gram Sadak Yojna up by 59 per cent
- Rs 39,100 crore allocation for NREGA
- NREGA gave employment opportunities to more than 4.47 cr households
- Aam Aadmi is the focus of all UPA's schemes
- Govt to shift to nutrient based fertiliser subsidy regime
- Banking network to be expanded
- One banking centre in every bloc
- Banks, insurance to stay with Govt
- Raise threshold for non-promoter public listed companies
- FM recalls Indira Gandhi's bank nationalisation
- Move towards energy security via Integrated Energy Act
- Saral-II forms to simplify taxation process
- An expert panel will look into petroleum product pricing
- Domestic oil prices must be in sync with global prices
- Fertiliser subsidy to go directly to farmers
- Export Credit Guarantee scheme extended till March 2010
- Pranab Mukherjee quotes Kautilya in Budget speech
- Incentives in interest rates to farmers to pay back
- Print media stimulus package extended by six months
- Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
- FIIs have returned to India in last few months
- Storm-water drainage project fund hiked to Rs 500 cr
- Blueprint for national gas grid
- Additional budget allocation to farmers
- Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%
- Total fiscal stimulus during '08-09 is Rs 1,86,000 cr
- Hike in allocation for Mumbai flood management
- Housing allocation hiked under Rajiv Awaas Yojana
- Fund allocation for urban poor accommodation is 3,973,000 cr
- JNNURM allocation hiked by 87 per cent
- NHAI allocation up by 23 per cent
- Hike infrastructure investment to over 9% of GDP by 2014
- IIFCL will refinance 60% of commercial bank loans in PPP
Source : ibnlive
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