Budget Highligts 2009 (INDIA)

·  No new tax on edible oil imports

·  Excise duty on petrol diven trucks cut

·  No change in corporate tax

·  4% excise duty on cotton products restored

·  Custom duty on silver, excluding jewellery, hiked by Rs 500/ kh to Rs 1,000/ kg

·  Life saving devices on heart contidion exempted from custom duty

·  Life saving drugs, including breast cancer, custom duty reduced to 5% from 10%

·  Custom duty reduced on LCD panels from 10% to 5%

·  5% Custom duty on Set top boxes

·  Anoymous donations - grant relief 5% of total income or Rs 1,00,000 whichever is higher

·  Finance Act 2008 introduced CTT has been abolished

·  Construction - restore full exemption on goods such as pre-fabricated slabs

·  Branded jewellery exempted from excise duty

·  Income tax exemption limit raised by Rs 10,000

·  Income tax exemption limit for women raised by Rs 10,000

·  Income tax exemption limit for senior citizens raised by Rs 15,000

·  Surcharge on personal Income tax scrapped

·  Individual law consultation not to attract service tax

·  Tax holiday on commercial production of mineral oil and natural gas on NELP VIII

·  FBT is scrapped

·  To release new direct tax code in 45 days

·  To introduce GST by April 1, 2010

·  Federal Tax/ GDP ratio is 11.5%

·  Fiscal deficit seen at 6.8% in FY10

·  To eliminate tax distortion

·  Non tax revenue receipts are likely to be better

·  Enhance budgetary support by Rs 40,000 cr

·  Budget estimates: Interest payment expected at Rs 2,25,511 cr

·  Interest payment are a third of expenditure plan

·  To spend Rs 1.42 lakh cr on defence

·  Increasing automation in direct tax collection

·  Aila hurricane relief at Rs 1,000 cr

·  Plan expenditure up 34% to Rs 3.75 lakh cr

·  Proposes Rs 500 cr for rehabilation of displaced persons of northern and eastern areas of Sri Lanka

·  Allocation for new Aligarh Muslim Univ campuses in Bengal, Kerala at Rs 25 cr each

·  Budget estimates: Rs 10,20,830 cr, Rs 6,95,600 cr non-planned and planned Rs 3,29,100 cr

·  Plan outlay increased by 74%

·  Allocation Commonwealth Games raised by more than 50% to Rs 3,472 crore

·  Sensex down over 900 pts

·  50% of all rural women to be brought into self-help group programmes

·  National Mission for Female Literacy to be launched

·  Govt to build 100,000 homes for paramilitary forces

·  National Mission for Female Literacy to be launched

·  Allocation of Rs 2,113 cr for IIT

·  Govt to spend Rs 120 cr in FY10 in unique ID

·  Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore

·  Allocation for flagship Bharat Nirman progamme raised by 45%

·  Paramilitary housing project to cost Rs 1,000 cr

·  Certain Pension related benefits extended to war hounded

·  Paramilitary housing cost estimated at Rs 1,000 cr

·  Govt proposes to launch housing for 1 lakh para military forces

·  Unique ID cards in 12-18 months

·  46 lakh BPL families to come under new health insurance plan

·  NREGA has been and outstanding success

·  Right to Information Act been successful

·  To add handloom clusters in West Bengal and Tamil Nadu

·  More than 46 lakh people received biometrics card

·  National Web Portal for employer and employee to be launched

·  Govt aims to have social security for informal sector

·  Plan to cut felame illiteracy by half in three yrs

·  Unorganised Social Security Bill passed by both houses of the Parliament

·  To launch national mission on female literacy

·  PM's Adarsh Gram Yojana starts with Rs 100 cr funding

·  NHB refinance to rural housing sector to be raised

·  Indira Awaas Yojana outlay increased by 63%

·  Bharat Nirman outlay raised by 59%

·  Food security to provide rice, wheat at Rs 3 a kg to poor

·  Allocation for Indira Awaas Yojana to be increased by 63%

·  59% increase in allocation for Pradhanmantri Gram Sadak Yojna

·  Govt to move food security bill very soon

·  NREGA outlay increased by 144%

·  NREGA min wages set at Rs 100/day

·  Income-tax return forms to be made more user-friendly

·  PSU companies to remaain under government control

·  8.5% growth in recent past fueled by pvt sector investment

·  Govt wants public shareholding in PSUs to go up

·  PSUs to remain under govt control

·  PSU Banks, insurance firms outside disinvestment plan

·  Turbulence in world markets left Indian financial sector unaffected

·  Proposes people's participation in disinvestment programme

·  IT Saral 2 form to be introduced

·  Rs 1 lakh crore projects for Infrastructure revival

·  Fiscal deficit up to 6.2% from 2.7% fo GDP

·  Institutional reforms to cover subsidies, expenditure

·  Govt to set-up expert committee to advise on petro pricing products

·  Markets dip into red, Sensex down 900 pts

·  To return to FRBM target at the earliest

·  Special fund of Rs 4,000 cr from Rural Infra Dev fund to provide cheap loans to MSME

·  To increase fertiliser usage - govt proposes to move from product pricing basis

·  Return to FRBM target as soon as possible

·  30% rise in Rashtriya Krishi Vikash Yojana allocation over 2008-09

·  Budget makes subvention of 1% to benefit farmers

·  The market development assitance scheme allocation hiked by 148% to Rs 124 cr

·  Exporters borne the brunt of eco crisis, will provide adj assistance till March 2010

·  Proposes to extend deadline to farmers to pay off 75% of loans by six months to December 31, 2009

·  Govt announces rebate for farmers paying loan on time, and lower rate of 6% proposed

·  Loan for farmers Rs 3,00,000 at 7% per annum

·  Agriculture records growth of 4% per annum in recent past

·  The Assam gas cracker project estimated at Rs 5,160 cr

·  JNNURM support raised by 87%

·  Sensex up 140 pts to 15057

·  IIFCL and banks in position to support Rs 1,00,000 cr in infrastructure

·  Stepped up allocation of funds from Rs 10,800 cr to Rs 15,800 cr for railways

·  Highway and railways - allocation hiked by 23%

·  Govt have some success in attracting investments in certain sectors through PPP

·  FIIs are back in the market, the worst two quarters are behind us

·  Govt needs to provide further stimulus for the economy

·  MAT hiked to 15% of book profit from 10%

·  There are signs of revival in domestic industry

·  For 1st time I held a meeting with state finance ministers to work together

·  Gross capital flow rose to over 9% over GDP

·  Infra investment to be over 9% of GDP by 2014

·  Highlights of 2008-09: Sharp rise in inflation to nearly 13% and a equally sharp fall to 0%

·  GDP dips from over 9% average in past three years to 6.7% in 2008-09

·  Ensure 4% agriculture growth

·  In Interim Budget I had given a detailed analysis of eco situation

·  Budget an important mean to present the view of the government

·  A single Budget Speech cannot solve all our problems.

·  Aim: To reduce number of people living below poverty line to less than half of current level by 2014

·  Pranab hails UPA win

·  In Interim Budget I had stated that the new govt shd sustain 9% growth over a sustained basis