INDIAN BUDGET 2011:-
Indian Budget is a specific plan for the state’s economy. Budget Session is the main economic and financial events in India. The Indian Union Budget 2011-2012 is scheduled to be presented at the 28th February by Finance Minister in Parliament. Stay connected to the budget 2011 live and read the highlights of the recent Indian Union Budget news and analysis. The Indian Budget 11-12 to discuss the new tax slabs, the approval of new private banks, budgetary allocation for different development programs, etc.
HIGHLIGHTS:-
Stainless steel exempt from excise duty tariff.
Pranab gives no new tax exemption limits for women.
Central excise duty rate remains unchanged at 10 percent.
AIR-Conditioner to be cheaper.
All children are still at 10 percent.
Direct tax sop to cost the Treasury Rs 11,500 cr.
Additional brought down from 7.5 percent to 5 percent for businesses.
Personal tax exemption limit raised to Rs 1.8 lakh.
Retiree benefits starting at 60 instead of 65.
Non-tax revenue of Rs 1,25,000 now cr.
Pranab allocates Rs 8000 cr for J & K, doubles contribution to the NE States.
Literacy Mission to get Rs 21,000 cr.
Metro projects will receive funding for an early conclusion.
Rural citizens are encouraged to open bank accounts.
40 lakh SC / ST students to take advantage of new scholarships.
Govt plans to spend Rs 1.6 lakh crore on social projects, up by 17 percent.
Anganwadi workers will reg workers receive higher wages.
Rashtriya Krishi Vikas Yojana allocation to go up from Rs 6755 crore to Rs 7860 crore.
Mega power projects will be created this year.
The sales target for 2012 is Rs 40,000 cr.
per cent interest subsidy on housing loans up to Rs 15 lakh.
Subsidies to farmers immediately pay back their loans increased from 2 to 3 percent.
Rural infrastructure development fund corpus will be raised with RS 180 billion.
Rs 300 cr to promote the crop.
Pranab to sell Rs 2000 cr for storage costs.
The capital infusion of Rs 20,157 cr in the public sector banks.
Petroleum and fertilizer subsidies will be “direct transfer” to the recipients.
10% excise duty on branded apparel, textile-ve cos.
Cut in import duty on raw materials for mobile phones.
FOOD rised to 18.5%.
Assignment Education up 40%.
Rs 300 cr allocated for oil palm production.
Increased priority mortgage limit to Rs 25 lakh vs Rs 20 lakh.
50 new food parks to be implemented.
Created Rs 500cr for Self Help Group for women.
Actively considering new policy for urea fertilizer.
AC hospitals with more than 25 beds under service tax.
Servcie tax on hotel accommodation above Rs 1500 per day.
Service tax remains at 10 per cent.
