Stuge Posted March 16, 2012 Author Posted March 16, 2012 HOPE TO TAKE ALLIES ABOARD ON TOUGH DECISIONS: PM When time comes, we have to bite the bullet on controlling subsidies: PM Pranab addressed both checking inflation & accelarating growth: PM This is an anti-aam aadmi budget: BJP Objective of bringing back growth not met: FICCI Maruti to hike prices immediately Pranab has given good budget: Chidambaram It is a good budget: Rahul Gandhi Branded silver jewellery exempted from excise duty Doubled custom duty on refined gold Customs duty on standard gold raised from 2% to 4% Excise duty on cigarettes raised Duty on bicycles and bicycle parts reduced Medicines for treating cancer, HIV to be cheaper AC, fridge, phone bills to cost more 20% tax on buying & selling shares Excise tax raised to 12% Service tax raised from 10% to 12% Luxury items, eating out to become more expensive Large cars duty raised from 22% to 24% Propose to set up a common tax code for service tax & excise Govt services, education, ent exempted from service tax: Pranab Exempt service tax on copyright on cinematographic films: Pranab Service tax net widened: Pranab 20% reduction on securities transaction tax: Pranab Compulsory reporting requirement of assets held abroad: Pranab No change in corporate tax rate: Pranab No advance tax for senior citizens: Pranab 30% tax rate for income above Rs 10 lakh: Pranab 20% tax rate for income between Rs 5-10 lakh: Pranab 10% tax rate for income between Rs 2-5 lakh rupees: Pranab Exemption limit for I-T raised to Rs 2 lakh: Pranab Non-tax expenditure revenue receipts estimated at Rs 1.64 lakh cr: Pranab Tax collection up 15%: Pranab 7 medical colleges to be upgraded: Pranab Financial assistance for universities across states: Pranab Propose additional funds for Aadhar to cross 40 cr enrollment: Pranab Dedicated cell to track black money: Pranab Rs 1000 cr for National Skill Development Fund in FY13: Pranab White paper on black money in current session: Pranab Defence budget raised to Rs 1.93 lakh cr: Pranab Tracking of tax evasion through PAN: Pranab Health schemes in urban areas to have higher allocation: Pranab NRHM allocation hiked to Rs 20,820 cr: Pranab Credit guarantee fund for education loans: Pranab Over Rs 12,000 cr for backward area projects in FY13: Pranab 6000 schools to be set up in 12th five year plan: Pranab Public distribution system to be computerised: Pranab Kisan credit cards can be used at ATMs: Pranab Tax-free bonds of Rs 10,000 cr for NHAI: Pranab Propose to allocate Rs 10,000 cr NABARD for refinancing RRB: Pranab 27% more funds for rural sanitation and drinking water: Pranab Over Rs 11,000 cr for school mid-day meal scheme: Pranab Agriculture credit target raised to Rs 5.75 lakh crore in FY13: Pranab Direct import of aviation fuel allowed: Pranab Interest subsidy for farmers to continue: Pranab Govt raises foreign loan limit for aviation: Pranab Foreign investment in low cost affordable housing projects: Pranab Propose tax free bonds of Rs 10,000 cr for power sector: Pranab ECB cap raised for airlines: Pranab 49% airline FDI under active consideration: Pranab Financial Holding company to meet financial needs of PSU banks: Pranab To allow QFIs in corporate bond market: Pranab 10% of IPO above Rs 10 cr via electronic platform: Pranab New equity savings scheme for small investors : Pranab Rs 50,000 tax exemption for retail investors: Pranab New tax exemptions for retail investments: Pranab Measures to boost equity market: Pranab To examine Parliamentary Panel report on Direct Taxes Code: Pranab To introduce Rajiv Gandhi Equity Scheme: Pranab Direct Tax Code implementation deferred: Pranab Efforts on for retail FDI consensus: Pranab Rs 30,000 cr disinvestment target next year: Pranab General Sales Tax to be operational by August 2012: Pranab Direct cash subsidy for LPG, kerosene: Pranab Food security subsidy to be fully provided: Pranab Direct transfer of subsidies to retailer, farmer: Pranab FY13 subsidy to be under 2% of GDP: Pranab Subsidies could be changed depending upon feasibility: Pranab 7.6% GDP growth in 2012-13: Pranab India's share of trade has gone up: Pranab Subsidies have hit fiscal balance: Pranab Current account deficit to fall: Pranab Need to address the problem of black money: Pranab Expect smaller current account deficit: Pranab Agriculture and services have continued to perform well: Pranab Necessary to take hard decisions now: Pranab Exports grew by 23% in the first quarter: Pranab Indian manufacturing at the cusp of revival: Pranab Inflation to moderate further this year: Pranab 2.5% agriculture growth this year: Pranab Economy shows signs of reform: Pranab Have to accelerate pace of reforms: Pranab Weak industrial growth has held us back: Pranab India expected to grow at 6.9%: Pranab This year's economic performance has been disappointing: Pranab Pranab Mukherjee starts Budget speech Speaker Meira Kumar urges shouting MPs to allow Pranab to speak Uproar in Lok Sabha as Pranab Mukherjee prepares to present Budget Pranab Mukherjee rises to present Budget 2012-13 to Parliament Pre-budget Cabinet meeting ends in Parliament Dinesh Trivedi attends Cabinet meet in Parliament Pre-budget speech Cabinet meet begins in Parliament Finance minister Pranab Mukherjee reaches Parliament Budget 2012: Cabinet to meet at 10.15am in Parliament Eco Survey: Growth must match work-force surge Eco Survey: Service sector has insulated India from global slowdown Eco Survey calls for ruthless crackdown on corruption Services sector share in GDP to go up to 59% by fiscal end Inflation on WPI was high but showed clear slow down by year-end Farm sector growth pegged at 2.5% for 2011-12 GDP growth estimated to be 6.9% in 2011-12 Economic Survey pegs growth at 7.6% next fiscal
Sachin=GOD Posted March 16, 2012 Posted March 16, 2012 the 100th 100 has taken the spotlight away from the Budget....
ViruRulez Posted March 16, 2012 Posted March 16, 2012 Got lucky!! I've been informed by NDTV people that I'm the first winner of their hourly sms contest on the budget day. Prize carries a cash reward of INR 1 lakh. Congrats. :two_thumbs_up: the 100th 100 has taken the spotlight away from the Budget.... Ye hai India. Popular emotions are always short lived here. :cantstop: Having said that, I do not like the increase in service tax but do not mind the income tax slab of increasing only to 2 lakhs. People and especially emotional people like us are irrational at times and expect too much. Populist budgets when the world is still in recession and countries are becoming bankrupt all over the world might not be right way. This populist measures have resulted in Europe landing in the current financial mess. Greece is already bankrupt and the rest of Europe is not that great either. Though common person might not realize but these populist measures by governments are actually done while sacrificing the economy and increasing the national deficit. Even a so called superpower like US is already in 100% national debt of GDP if not in excess and is kneeling down in front of China as they need to get money from China for even bailing out their companies (which was again incorrect). Japan is already in shambles and in 225% of national debt and was earlier dependent on US help to some extent. But then US is already in massive debt and so, Japan might find it difficult to grow in the future. So, we as a country would never want to be in such a situation where the country itself lands in a mess while trying to appease everyone. Humans and especially citizens are often irrational. Political parties get votes by just giving out free things in elections as has been seen for quite sometime. People like free things from govt. too but that does not mean that is good for the economy. So, we need to be wise when the world economy is a mess. China is the only country which is extremely strong economically and has only 15% national debt I suppose which is continuously decreasing. So, if countries over the world keep on populist measures then China would become the godfather of all countries like US has been in the past. At least we as a country would never like that to happen to our country.
kabira Posted March 16, 2012 Posted March 16, 2012 >30% tax rate for income above Rs 10 lakh: Pranab this is good...I like that one..
kabira Posted March 16, 2012 Posted March 16, 2012 ^I was being sarcastic, Pranab satiya gaya hai, This budget is pedestrian, hardly any bold steps taken to make sure we are back on track. It just shows UPA is not willing to take any Bold decisions.
ganeshran Posted March 16, 2012 Posted March 16, 2012 Got lucky!! I've been informed by NDTV people that I'm the first winner of their hourly sms contest on the budget day. Prize carries a cash reward of INR 1 lakh. :two_thumbs_up::two_thumbs_up: Party
ganeshran Posted March 16, 2012 Posted March 16, 2012 service tax will now be 12.36% from 10.33 percentage. Every thing will go up 2% now :wall: except salary
SachDan Posted March 16, 2012 Posted March 16, 2012 :two_thumbs_up::two_thumbs_up: Party Was partying after watching one of the most disgraceful moments of Indian cricket history, then came the bad news of our grea bowling unit having a rarest of rare off days :((
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