Home | Contact Us | Sitemap |  Login  / Register
Brief report of 7th CEOs Meet at Hotel Claridges, New Delhi on 11th Nov. 2016   Removal of Requirement of PQ Certification for import of sand by Govt.   Anti Subsidy imposed on Castings imported from China for Wind Mill Generators   Brief report of the 64th Indian Foundry Congress   Brief Report of the 5th CEOs Meet - Mumbai held on 12th April 2016
_

News and Events

Union Budget 2012-13 Highlights

1. Budget identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters

2. GDP growth to be 7.6 % (+ 0.25 percent) during 2012-13

3. Amendment to the FRBM Act proposed as part of Finance Bill. New concepts of “Effective Revenue Deficit” and “Medium Term Expenditure Framework” introduced

4. Central subsidies to be kept under 2% of GDP; to be further brought down to 1.75% of GDP over the next 3 years.

5. Proposed: Mobile based fertilizer management system; LPG transparency portal; scaling up and rolling out of Aadhar enabled payment for government schemes in at least 50 districts.

6. INR 30,000 crore to be raised through disinvestment

7. Efforts to reach broadbased consensus on FDI in multi-brand retail

8. Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to retail investors on investing in equities

9. INR 15,888 crore to be provided for capitalization of public sector banks and financial institutions

10. A central “Know Your Customer” depository to be developed

11. Swabhimaan: remaining habitations to be covered; to be extended to more habitations; ultra small branches to be set up in Swabhimaan habitations

12. Investment in 12th Plan in infrastructure to go upto INR 50,00,000 crore; half of this is expected from private sector

13. Tax Free Bonds of INR 60,000 crore to be allowed for financial infrastructure projects

14. Allocation of Road Transport and Highways Ministry enhanced by 14% to INR 25,360 crore

15. Financial package of INR 3,884 crore for waiver of loans to handloom weavers and their cooperative societies; mega handloom clusters in Andhra, Jharkhand; weaver service centres in Mizoram, Nagaland and Jharkhand ; powerloom mega cluster in Maharashtra; INR 500 crore pilot schemes for geo-textiles in North-Eastern region

16. INR 5,000 crore India Opportunities Venture Fund to help small enterprises

17. Allocation to agriculture enhanced; RKVY gets INR 9,217 crore; BGREI gets INR 1,000 crore; INR2242 crore project to improve dairy productivity; INR 500 crore for coastal aquaculture

18. Various other agricultural activities merged into 5 missions

19. Target for agricultural credit raised to INR 575,000 crore

20. Interest subvention for short term crop loans to farmers at 7% interest continues; additional 3% for prompt paying farmers

21. INR 200 crore for awards to incentivise agricultural research

22. Provisions under rural housing fund increased to INR 4,000 crore from INR 3,000 crore

23. Interest subvention of 1 percent on housing loans upto INR 15 lakh extended for one more year

24. AIBP allocation raised by 13% to INR 14,242 crore

25. National Mission on Food Processing to be started in cooperation with State Governments

26. Scheduled Caste Sub Plan allocation increases by 18% to INR 37,113 crore; Tribal Sub Plan by 17.6% to INR 21,710 crore

27. Multi-sectoralprogramme to address maternal and child malnutrition in 200 high burden districts

28. 58% rise in allocation to ICDS, at INR 15,850 crore

29. Rural drinking water and sanitation gets 27% rise in allocation to INR 14,000 crore; PMGSY gets 20% rise to INR 24,000 crore

30. Projects covering length of 8800 km to be awarded under NHDP against 7,300 km during 2011-12

31. RTE-SSA gets INR 25,555 crore allocation, showing an increase of 21%; 6000 schools to be set up at block level as model schools in the 12th Plan; Credit Guarantee Fund to be set up for better flow of credit to students

32. National Urban Health Mission is being launched

33. 34% increase in allocation to National Rural Livelihood Mission, to INR 3915 crore

34. INR 1000 crore allocated for National Skill Development Fund

35. Bharat Livelihood Foundation to be established to support livelihood interventions particularly in tribal areas

36. Widow pension and disability pension raised from INR 200 to INR 300 per month

37. Grant on death of primary breadwinner of a BPL family in the age group 18-64 years doubled to INR 20,000

38. Defence services get INR 193407 crore; any further requirement to be met

39. 4000 residential quarters to be constructed for Central Armed Police Forces

40. UID-Aadhar to get adequate funds for enrolment of 40 crore persons, in addition to the 20 crore persons already enrolled

41. White Paper on Black Money to be laid in the current session of Parliament

42. Tax proposals mark progress in the direction of movement towards DTC and GST

43. Income tax exemption limit raised from INR1,80,000 to INR 2,00,000; upper limit of 20% tax slab raised from INR 8 lakh to INR 10 lakh

44. Interest from savings bank accounts deductible upto INR 10,000; deduction of upto INR5,000 for preventive health check-up

45. Senior citizens without business income exempt from advance tax

46. Investment linked deduction of capital expenditure enhanced for certain businesses; new sectors eligible for investment linked deduction

47. Turnover limit for compulsory tax audit for SMEs raised from INR60 lakh to INR1 crore

48. STT on cash delivery reduced by 20% to 0.1%

49. General Anti Avoidance Rule being introduced to counter aggressive tax avoidance

50. A number of measures proposed to deter generation and use of unaccounted money

51. All services to attract service tax except those in the negative list

52. Central Excise and Service Tax being harmonized

53. Standard rate of excise duty raised from 10% to 12%; service tax rates raised from 10% to 12%; no change in peak customs duty of 10% on non-agricultural goods

54. Relief in indirect taxes to sectors under stress; agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment get duty relief

55. Certain cigarettes and bidis attract higher excise duty; large cars attract higher customs duty

56. Excise imposed on unbranded jewellery also; measures to minimize impact on small artisans and goldsmiths; branded silver jewellery exempted from excise duty

57. Net gain of INR41,440 crore due to taxation proposals

58. Total expenditure budgeted at INR 14,90,925 crore; plan expenditure at INR 5,21,025 crore - 18% higher than 2011-12 budget; non plan expenditure at INR 9,69,900 crore

59. Fiscal deficit targeted at 5.1% of GDP, as against 5.9% in revised estimates for 2011-12

60. Central Government debt at 45.5% of GDP as compared to Thirteenth Finance Commission target of 50.5%

61. Medium term Expenditure Framework Statement to be introduced; will set forth 3-year rolling target for expenditure indicators

« Back





Upcoming Events

Kitten

PhotoGallery