General
1. GDP next year to be around 7.6%.
2. Expect inflation to be lower.
3. FM acknowledges subsidies a problem, says it will be brought down to 1.7% of GDP in future.
4. Disinvestment target in 2012-13 is 30,000 crore.
5. Efforts are on to arrive at a consensus with state governments to allow FDI in multi-brand retail sector.
6. Qualified investors to be allowed in infra sector.
7. DTC implementation deferred GST to be operational by August 2012.
8. New equity scheme for small investors.
9. To introduce new Rajiv Gandhi equity scheme.
10. $ 1 billion working capital package for aviation sector.
11. Govt to give contracts for 8800km national highway roads in 2012/13 against 7300km in 2011/12.
12. Direct import of fuel aviation announced.
13. Target for agriculture credit increased to Rs 5,75,000 crore.
14. New PDS to be operational by Dec 2012 with help of aadhar.
15. Interest subsidy for farmers to continue.
16. Propose to allocate Rs 10,000cr NABARD for refinancing RRB.
17. Agriculture credit target raised to Rs 5.75lakh crore in FY13.
18. Rs 5000cr for venture fund by SIDBI to aid MSMEs.
19. Allow ECB for low cost affordable housing projects.
20. FY13 mid-day meal scheme outlay at Rs 11,937 Cr.
21. Rs 14,000cr for rural drinking water and sanitation in FY13.
22.Rs 12,040cr in FY13 for backward area projects 11:56 am.
23. More money to the National Rural Health Scheme.
24. 6,000 schools proposed to be set up in 12th year plan.
25. Credit guarantee fund for education loans.
26. Kisan credit cards can be used at ATMs.
27. NRHM allocation hiked to Rs 20,820cr.
28. Women SHG can avail additional 3% subvention for prompt repayment of loans.
29. 6000 schools to be set up in the 12th year plan: FM
30. To provide interest subvention at 7% for women self-help groups.
31. National mission on food processing with state govts to be set up.
32. Allocated Rs 20,000 cr for rural infra development fund, Allocated Rs 20822 cr for rural health
plan during FY13.
33. Propose to lay white paper on black money in parliament .
34. Subsidy of 1% on loans up to Rs 15 lakh
Direct Taxation.
1. DTC implementation deferred GST to be operational by August 2012.
2. Gross taxes estimated at 10.65% of GDP in FY13.
3. up to 2,00,000 Nill
200000-500000 10 %
500000-1000000 20%
more then 1000000 30%
4. 0.1% STT
5. Senior citizens to be exempt from advance tax payments.
6. Health insurance deduction upto Rs 5000 for preventive health checkup.
7. Remove cascading effect of dividend distribution tax
8. Withholding tax on ECBs for some sectors cut to 5% from 20%.
9. Direct tax proposals to cause net revenue loss of Rs 4,500 cr.
10.Sun set clause on tax incentives for infra projs under 80 IA extended by 1 yr.
11. Introduction of compulsory reporting requirement of assets held abroad.
12. New sectors added to investment-linked deduction: bee-keeping, warehousing for sugar.
13. Purchase of jewellery above Rs 2 lakh now under tax net.
Indirect Taxation
1. Govt services, education, entertainment, public transport exempted from service tax.
2. Negative list to include pre school and high school education, entertainment services.
3. All services to be taxed except those in negative list.
4. Propose to exempt service tax on copyright on cinematographic films.
5.Common 1 page return for excise and service tax .
6. Propose to hike service tax rate from 10% to 12%.
7. No change in peak rate of customs duty of 10% on non-agri goods, except few exceptions.
8. Exemption of customs duty of 5% on equipment for fert plants.
9. Thermal power co exempted from customs duty for 2 yrs
10 Import of aircraft parts exempt from basic customs duty.
11. Large cars to attract excise duty of 27%
12. Just 17 services exempt from tax net.
13. Automated shuttle looms exempted from customs duty.
14. Titanium dioxide customs duty cut to 7.5% from 10%.
13. Excise duty raised to 12% from 10%.
14. Full exemption on imported equipments for road construction projects.
15. Customs duty on std gold raised from 2% to 4%.
16. Duty reduced on energy saving lamps.
17. Excise duty on cigarettes raised. 10% Advolarom duty on some cigarettes.
18. Customs duty on non std gold raised to 10% from 5%.
19. Doubled custom duty on refined gold.
20. Duty on bicycles and bicycle parts reduced.
21. Branded silver jewellery exempt from excise duty.
|