Dear All
I am sharing with all, the key features/points of Budget 2010-11.
Also I am sharing with you all the economic survey by the Government of India
Hope all find the same usefull
Regards
Octavious
Economic Impact of Union Budget 2010: CRISIL
The backdrop against which FM Mr. Pranab Mukherjee presented the first budget of UPA II government has dramatically changed since then. At the time of Budget 2010-11, although concern about sustaining growth continues to be an important agenda, unabated rise in food prices coupled with high fiscal deficit has emerged as a major challenge for the government. FM in his budget speech did try to touch upon both the challenges. While he has laid out a road map to bring down the fiscal deficit to 4.1 per by FY 2012-13, he did not spell out any target like this to bring down the prices. However, he highlighted the importance of agriculture sector in providing food security and to spur growth in this sector he proposed a four-pronged strategy covering (a) agricultural production; (b)reduction in wastage of produce (c) credit support to farmers; and (d) a thrust to the food processing sector.
In terms of new fiscal initiatives the Finance Minister has done very little in this budget and it is not difficult to understand why as the government’s endeavour is to introduce new direct tax code and GST by 1 April 2011. Nevertheless, FM did tinkered with direct taxes, offering some concessions to personal income tax payers and increasing the rate of minimum alternate tax for the corporate sector, which together with other manoeuvres will result in a revenue loss of Rs. 26, 000 crore. In the case of indirect taxes, the excise duty reductions resorted to in the previous budget for stimulating demand has been partially rolled back. Similarly excise and customs duties have been increased on petroleum product. Thus the revenue gain on this count is estimated at Rs. 43,500 crore. Another Rs. 3000 crore increase in revenue is expected on account of services tax. In the net, these measures are projected to yield additional revenue to the tune of Rs. 20,500 crore in 2010-11.
I am sharing with all, the key features/points of Budget 2010-11.
Also I am sharing with you all the economic survey by the Government of India
Hope all find the same usefull
Regards
Octavious
Economic Impact of Union Budget 2010: CRISIL
The backdrop against which FM Mr. Pranab Mukherjee presented the first budget of UPA II government has dramatically changed since then. At the time of Budget 2010-11, although concern about sustaining growth continues to be an important agenda, unabated rise in food prices coupled with high fiscal deficit has emerged as a major challenge for the government. FM in his budget speech did try to touch upon both the challenges. While he has laid out a road map to bring down the fiscal deficit to 4.1 per by FY 2012-13, he did not spell out any target like this to bring down the prices. However, he highlighted the importance of agriculture sector in providing food security and to spur growth in this sector he proposed a four-pronged strategy covering (a) agricultural production; (b)reduction in wastage of produce (c) credit support to farmers; and (d) a thrust to the food processing sector.
In terms of new fiscal initiatives the Finance Minister has done very little in this budget and it is not difficult to understand why as the government’s endeavour is to introduce new direct tax code and GST by 1 April 2011. Nevertheless, FM did tinkered with direct taxes, offering some concessions to personal income tax payers and increasing the rate of minimum alternate tax for the corporate sector, which together with other manoeuvres will result in a revenue loss of Rs. 26, 000 crore. In the case of indirect taxes, the excise duty reductions resorted to in the previous budget for stimulating demand has been partially rolled back. Similarly excise and customs duties have been increased on petroleum product. Thus the revenue gain on this count is estimated at Rs. 43,500 crore. Another Rs. 3000 crore increase in revenue is expected on account of services tax. In the net, these measures are projected to yield additional revenue to the tune of Rs. 20,500 crore in 2010-11.
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