Budget 2010-2011 Snapshot, Pranab Mukherjee 2010-11 Budget proposal
Here is the budget 2010-2011 snapshot. Here are the highlights of Budget 2010-2011
-Income Tax: No tax on income up to Rs. 1.6 lakh
Tax on income between Rs. 1.6 lakh and 5 lakh: 10 percent
Tax on income between Rs.5 lakh and Rs.8 lakh: 20 percent
Tax on income above Rs. 8.lakh: 30 percent
– IT returns forms for individual tax to be made simple
– National Social Security Fund created for workers in unorganised sector with allocation of Rs.1,000 crore
– Expenditure in 2010-11 approximated at 11,l8,749 crore
– Fiscal deficit estimated at 5.5 percent in 2010-11; an improvement of 1 percent over 2009-10
– Two more centralised tax processing centers to be set up in addition to the one at Bangalore
—Provision for further capital for regional rural banks
– Government to allocate Rs.1,000 for each National Pension Scheme account opened by workers for the unorganised sector
- 50 percent increase in allocation for schemes for women and child development
– Exclusive skill development programme for the textile sector
– – Rs.4,500 crore allocated for ministry of social justice and empowerment, a hike of 80 percent
—–Rs.147,344 crore allocated for defence
– Rs.2,600 crore allocated for ministry of minorities affairs
– Rs.1,900 crore for Unique Identification Authority of India
– - 2,000 youth to be recruited in central paramilitary forces
– Draft Food Security Bill prepared and will be put in the public domain
– Allocation on primary education raised from Rs.26,800 crore to Rs.31,300 crore
– Banking facilities to be provided to all habitations with a population of 2,000 and more
- Rs.66,100 crore allocated for rural development in 2010-11; Rs.40,100 crore for National Rural Employment Scheme; RS.48,000 crore for Bharat Nirman
– Rs.1,270 crore allocated for Rajiv Awas Yojana for slum dwellers, up from Rs.150 crore, an increase of 700 percent with the aim of creating a slum free India.
– Forty-six percent of plan allocations in 2010-11 will be for infrastructure development
– Coal Regulatory Authority to be set up to benchmark standards of performance
– Allocation for new and renewable energy sector increased 61 percent from Rs.620 crore to Rs.1,000 crore in 2010-11
– National Clean Energy Fund to be established
– Rs.200 crore allocated as special package for Goa to prevent erosion and increase green cover
– Government committed to growth of SEZs
– Four-pronged strategy for growth of agricultural sector
– Rs.200 crore to be provided in 2010-11 for climate-resilient agricultural initiative
– Involvement of private sector in grain storage to continue for another two years
– In view of drought and floods, debt repayment period extended to June 2010
– Five more mega food processing projects in addition to 10 existing ones
– FDI flows in April-December 2009 $20.9 billion
– FDI policy to be made more user-friendly with one comprehensive document
– Apex level financial stability council to be set up for banking sector
– Indian Banking Association to give additional licences to private players
- Roadmap for reducing public debt in six months
– Implementation of direct tax code from April 2011
– Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011
– New fertiliser policy from April 2010; will lead to improved productively and more income for farmers
– Economy stabilised in first quarter of 2009-10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account
– Export figures for January encouraging
– Hope to breach 10 percent growth mark in not too distant future
– Government set in motion steps to bring down food inflation
– Need to review stimulus package; need to make growth more broad-based
– India has weathered global economic crisis well; Indian economy in far better position than it was a year ago. In 2009 Indian economy faced grave uncertainty; delay in southwest monsoon had undermined agricultural production
– First challenge now is to quickly revert to 9 percent growth and then aim for double digit growth; need to make recovery more broadbased
Related posts:
- Income Tax Budget 2010, Income Tax Slabs Budget 2010
- Budget 2010 Price Rise: Goods Whose Prices Will Rise
- Direct Tax Code to Replace Income Tax Act in April 2011
- No PAN, Then Pay More Tax
- 2011 Ohio State Football Schedule
- Opposition React Badly to Budget 2010, Opposition Walks Out
- Share Markets rejoice as Sensex skyrockets to 14,000
- Social Networking Sites and user preferences
- Fastest growing careers 2010
- Railways Budget: Railway Fare Not To Increase
Tags:
Posted by Starwin on 26th February, 2010
Comments
Latest News
 |
|
|---|
 |
|
|---|
|
|---|
|
|---|
|
|---|
|
|---|
 |
|
|---|
|
|---|
 |
|
|---|
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
 |
|
|---|
|
|---|
 |
|
|---|
|
|---|
|
|---|
 |
|
|---|
