surf india

Union Budget Highlights

Highlights Live Speech Budget Glossary

  • - Budget spells out the target for the UPA: To bring back the 9% growth
  • - Commodities Transaction Tax (CTT) to be scrapped
  • - 10% surcharge on personal Income tax scrapped
  • - Fringe Benefit Tax (FBT) to be scrapped
  • - IT exemption limit for Women hiked to Rs 190,000
  • - IT exemption limit for Senior Citizens hiked to Rs 240,000
  • - Rs 12000 crore earmarked for expenditure on rural roads in FY 2010
  • - Drugs related to heart diseases to be cheaper
  • - Service Tax to be now apllicable on law firms
  • - Bio-diesel custom duty lowered
  • - Customs Duty on import of Gold and Silver increased
  • - Branded women's jewellery to be cheaper
  • - Rs 16300 Crore to be set aside for the upcoming Commonwealth Games
  • - IITs and NITs to get Rs 2113 crore
  • - Corporate Tax unchanged
  • - One rank-one pension scheme to be in place for Ex-Servicemen
  • - National Ganga Project allocation to go up to Rs 562 Crore
  • - Unique Identification (UID) project under Nandan M. Nilekani to be out in 12-18 months
  • - NRHM allocation to be raised by Rs 257 crore
  • - A national level action plan in place for climate change
  • - National Employment Exchanges to be modernised
  • - Interest subsidy for home loans up to 1 lakh
  • - Indira Awaas Yojna bolstered up by 63% to Rs 8883 crore
  • - Saral 2 forms to simply tax filing process
  • - Emphasis on fertiliser subsidy reaching out directly to farmers
  • - Petroleum price expert panel to set petroleum prices which would be in sync with the global levels
  • - Rashtriya Krishi Vikas Yojna allocation increased by 30%
  • - IIFCL, a new company would look into the infrastructure needs
  • - Extension of farm loan waiver scheme by 6 months
  • - Allocation of National Highway Authority of India (NHAI) increased by 23%
  • - Fiscal stimulus at 3.5% pf the GDP
  • - Small scale businesses to be exempted from advance tax
  • - 50% reduction in the Custom Duty on LCD panels
  • - Set top boxes to be costlier
  • - Goods and Services Tax (GST) to be in effect from April, 2010
  • - Textile units to enjoy continued tax holidays
  • - Pranab praises the 3 stimulus packages which were rolled out by the UPA to fight the global economic meltdown
  • - Signals of revival in the domestic market: Pranab Mukherjee