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Highlights of Union
Budget 2010:
Vision
& Objective:
- GDP
Growth to be targeted at 9%
- Target
of Rs 25,000 cr disinvestment
this year
- Direct
Tax Code and GST will be
implemented from April 1, 2011
-
Fertilizer Subsidy to be reduced
- GDP to
reach 10% in near future
- To
consider Parikh Report on Fuel
Price
- FDI
Regime to be simplified
-
Inflation Rate to be lowered in
2 Months
- 2%
interest subvention for Exports
extended for one year
-
Committed to SEZ Growth
Banking:
- More
Private Banks to be encouraged
-
Additional Banking License to
Private Players
- FY10
Capital for PSU Banks stand at
Rs 16,500 crore
- Rs
1,200 crore to be allocated to
PSU Banks
- Rural
Banks to be supported
- Banks
to get Rs 6,000 crore to improve
fundamental structure
- Banks
for all villages with a
population of 2,000
Agriculture:
-
Four-pronged agricultural
strategy to be adopted
- More
help to Food Processing Sector
- Rs 400
crore to be allocated for Green
Revolution in Eastern India
- Rs 300
crore for Rashtriya Krishi
Vikash Yojna
- Extend
Loan Repayment for drohught-hit
Farmers
-
Farmers, who repay loan on time,
will get a waiver of 2%
-
Farmers to get Loans at 5%
- To
extend farm loan repayment by 6
months
-
Agriculture Loan for Farmers
increased to Rs 3,75,000 crore
- New
Food Policy from April 1, 2010
- Rs 300
crore to be allocated for Pulse
Production
Infrastructure:
- Rs.
1.37 lakh crore for
Infrastructure Development
-
Railways to be allocated Rs
16,772 crore
- Road
Development allocation increased
to 19,894 crore
- 20 km
National Highway to be built
everyday
-
Proposal to hike allotment for
renewable energy by 61%
- To
Establish Clean Energy Fund
- More
than double allocation for Power
Sector to 5,130 crore
- Coal
Regulatory Authority to be set
up
-
One-time grant of Rs 200 crore
for Tamil Nadu dor Textiles
- NREGA
Allocation at Rs 40,100 crore
- Rs
1200 crore package for
drought-hit Bundelkhand
-
Ganages - Rs 500 crore
- Bharat
Nirman Yojna - Rs 48,000 crore
- Solar
Energy - Rs 1,000 crore
-
Tirupur Textile Industry - Rs
500 crore
- Goa -
Rs 200 crore special package
- To set
up 20,000 MW Solar Power by 2022
-
Delhi-Mumbai Industrial Corridor
to be set up
Education:
-
Allocation for School Education
increased from Rs 26,800 crore
to Rs 31,036 crore
-
Allocation for Health at 22,300
crore
- Sarva
Sikha Abhiyaan - Rs 36,000 crore
Urban
Development & Housing:
- Rs
5,400 crore for Urban
Development - hike of 75%
- Rs
61,000 crore for rural
Development
- Indira
Awas Yojna to get Rs 10,000
crore
- House
Loans up to Rs 10 lakh - 1%
subsidy extended for one year
- Focus
on Slum Development
Social
Sector:
-
National Social Security Fund
for unskilled labourers to be
set up with Rs 1,000 crore
-
National Pension Scheme - New
Accounts to get Rs 1,000 per
year by the government
-
National
Health Insurance
Scheme for NREGA Workers, who
work for 15 days in a Month
- Farmer
Fund for Women - Rs 100 crore
- Dalits
and Poor to get more focus
Technology:
- Unique
ID to be given on time
- Rs
19000 crore allocated for Unique
ID Project
- Rupee
to have new Symbol. A new look
Rupee to come up soon.
- Tech
Advisory Group to set up under
Nandan Nilekani
Plan &
Expenditure:
- Gross
Tax Receipts - Rs 7.46 lakh
crore
- 15%
rise in plan expenditure
- Fiscal
Deficit for FY 2010 revised to
6.9% of GDP
- Fiscal
Deficit - 5.5% for FY 2011
- Fiscal
Deficit - 4.8% for FY 2012
-
Defence Allocation - Rs 147,344
crore
Taxation:
- Income
Tax Form Saral-2 to be
re-introduced from next year
- No
increase in Exemption Limit for
the Taxpayers
- Tax
Slabs changed
- Income
up to Rs. 1.6 lakh - nil
- Income
from Rs. 1.6 lakh - Rs 5 lakh -
10% tax
- Income
from Rs 5 lakh - 8 lah - 20% tax
- Income
of above Rs 8 lakh - 30% tax
- 60% of
the taxpayers to be benefited
- Rs.
20,000 tax exemption for
investment
in infrastructure bonds.
- Tax
Exemption under 80c will be Rs
1.2 lakh instead of Rs 1 lakh
-
Corporate Surcharge reduced from
10% to 7.5%
- MAT
(Minimum
Alternative Tax)
increased to 18% from 15%
- Excise
Duty hiked from 8% to 10%
-
Service Tax remained at 10%
- No
Service Tax on News Agencies
- R&D
deduction hiked
- CET
(Central Excise Tariff) on
Petroleum Products hiked by Rs 1
-
Petrol, Diesel Prices to go up
-
Partial Rollback on Excise Duty
on Cement, Large Cars
- Cement
and Large Cars to be costlier
-
CHEAPER PRODUCTS
-
CNG, Mobile, Medicines,
Refrigerators, Medical
Equipments, Farm Equipments,
Mobile Phones, Mobile chargers,
Watches, Readymade Garments,
Microwave Ovens, Toys, Foreign
Farm Equipments, Set Top Boxes,
Water Purifier, LED Lights
-
COSTLIER PRODUCTS
- Petrol, Diesel, Coals,
cigarettes, Cement, Large Cars,
Jewellry, Gold, TV Sets, ACs,
Silver, Pan Masala
BUDGET
AT
A
GLANCE
BUDGET
2010
FULL
SPEECH |
