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Union Budget 2012-13 Lead-1

New Delhi, Fri, 16 Mar 2012 NI Wire

Budget key words

  • 5.9% fiscal deficit of GDP
  • To submit white paper on black money
  • Boost for Aviation
  • Increase in Defence Budget
  • Tax Collection up 15%
  • Fall in Income Tax and Corporate Tax Collection
  • Tax exemption limit raised to Rs.2Lakh from 1.80Lakh
  • Direct Tax Code Defferred

Budget Highlights

  • Kisan Credit cards can be used in ATM
  • Credit Guarantee Loans for skilled persons
  • 20% more money to mid-day meal
  • Public Distribution System to be computerised
  • 6000 school to be set up in 12th fifth year plan
  • Dedicate cell to track black money
  • Tracking of Tax evision through PAN
  • Credit guarantee scheme for skilled persons
  • 7 medical college to be upgraded
  • Direct transfer of food subsidy to farmers
  • Direct transfer of commodity subsidy to consumers
  • Tax free inrastrucure bond double to Rs.60,000-cr.
  • Tax free bond enhance for govt. employees to Rs.60,000
  • New equity saving scheme for small investors
  • Foreign loan capped for aviation sector it capped 49% FDIs
  • Health Schemes in urban area to be higher allocation
  • Proposed tax free bond of 10,000-crfor power sector companies
  • 20% reduction in Security transaction Tax (STT)

Budget Worries

No clear roadmap to GST, DTC and subsidiary cut in budget speech


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Comments:

Praveen SIngh

March 16, 2012 at 1:08 PM

The fiscal deficit data remains the same as of two years back...increase in service tax by 2% will fill the governments treasure by huge amount..and d common man will find dinning,traveling,mobiles and internet price to rise and there pockets to go down... given common man a tax relaxation by 20,000 & taken more than that......not a visionary budget keeping in mind the world economy slow down....no appreciation for market as well.


 

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