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INDAI s UNION BUDGET 2013 - 14 : QUICK GLANCE!!! Post Reply Rate topic
montyuu Member	01-Mar-2013 16:21        montyuu About Contact  Quote this Post!   Yells: "I dont Yell but speak sometimes..."
x 0   x 0  Alert Admin	INDIAN UNION BUDGET 2013 - 14 : QUICK GLANCE!!! GROSS DOMESTIC PRODUCT ESTIMATED TO GROW AT  5.5 %, +/- 0.5 % IN FY13 - 14.  AT CURRENT PRICES  THE ADVANCE GDP ESTIMATE OF 2012 - 13 IS  Rs. 87,35,400 LAKHS CR  AND AT 2004-05 PRICES ITS AT  Rs. 55,09,210 LAKHS CR. FY14 TOTAL SUBSIDES AT Rs. 2,31,000 CR. FY14 FERTILIZER SUBSIDIES AT   Rs. 66,000 CR. FY14 FOOD SUBSIDIES AT   Rs. 90,000 CR. FY14 OIL & PETROL SUBSIDIES AT   Rs. 65,000 CR. FY14 FISCAL DEFICIT AT Rs. 5,42,000 CR. FY14 GROSS MARKET LOANS ARE Rs. 6,29,000 CR. STATE PF ARE Rs. 10,000 CR. EXTERNAL AID ARE Rs.10,560 CR. OTHERS ARE Rs. 12,297 CR. THE CENTER'S EXPENDITURE 2013 - 14 IS PROJECTED AT  Rs. 14,90,925 Cr. IN FLOW (Rs. in Cr) CORPORATE TAX   4,19,520      INCOME TAX   2,47,639 CUSTOMS DUTY   1,87,308 EXCISE DUTY   1,97,554 SERVICE TAX   1,80,141 TAX OF UNION  TERRITORY   2,758 TAX RECEIPTS FOR CENTRAL    8,84,078    STATE's SHARE IN TAX RECEIPTS     3,50,842    TOTAL TAX RECEIPTS   12,34,920 NON TAX RECEIPTS AMOUNT       INTEREST RECEIPTS 17,764 DIVIDENDS & PROFITS 73,866 EXTERNAL GRANTS 1,456 OTHER NON TAX RECEIPTS 78,000 RECEIPTS OF UNION  TERRITORY       1,166               TOTAL 1,72,252 NON DEBT CAPITAL RECEIPTS 66,468  RECOVERY OF LOANS & ADVANCES 10,654 MISC. CAPITAL RECEIPTS 55,814 * Out of the Tax Receipts the  Center  has to keep aside for Calamity & Contingency Fund of Rs. 4,800 Crs. FISCAL DEFICIT (In Rs.)   AMOUNT       MARKET LOAN   4,84,000 EXTERNAL AID   10,560 STATE PF   10,000 OTHERS   12,297               TOTAL   5,42,499 OUT FLOW (Rs. in Cr) PLAN EXPENDITURE 5,55,322     NON PLAN EXPENDITURE 11,09,975 OR REVENUE EXPENDITURE 14,36,169 CAPITAL EXPENDITURE 2,29,129 DEFENSE 2,03,672 CENTRAL PLAN OUT LAY 99,030 GRANTS TO STATES & UTs 76,981 PENSIONS 70,726 INTEREST PAYMENTS 3,70,684 LOANS TO PSUs 417 OTHER GENERAL SERVICES 22,903 LESS OTHERS 302 CENTRAL PLAN 3,20,038 POSTAL DEFICIT 6,717 EXPENSES of UTs with out Legislature 4,395 NON PLAN CAPITAL OUTLAY 30,131 ECONOMIC SERVICES 24,334 GRANTS TO FOREIGN GOVT. 4,114 CENTRAL PLAN AID TO STATES 1,23,222 SOCIAL SERVICES 23,114 POLICE SERVICE 40,895 SOME MORE POINTS FROM BUDGET:- No change in Income tax rates and slabs. Imposed Surcharge of 10% on person whose taxable income exceeds Rs.1 Cr/yr. This will apply to Individuals, HUF's, Firms &   entities  with similar tax status. The additional surcharge will be force for only one year i.e. FY 2013-14. Increased surcharge from 5% to 10% on domestic  companies  whose taxable income  exceeds Rs.10 Cr/yr, in case of foreign  companies who pay the higher rate of Corp tax  the surcharge will increase from 2% to 5%. Effective Tax rate @33.99% for domestic co. having income more than Rs.10 Cr. Effective  MAT rate for Domestic co @21%. DDT surcharge increased from 5% to 10%. Tax credit of Rs. 2000 for income upto Rs.5 lakhs. To impose TDS @1% on the value of the transfer of Immovable property wherein  consideration exceeds Rs. 50 lakhs, Agriculture land will be exempted. STT on Equity futures reduced from 0.017 to 0.01 %. STT on MF/ETF  redemptions  at fund counter reduced from 0.25 to 0.001%. STT on MF/ETF purchase/sale on exchange reduced from 0.1 to 0.001% only on seller. To levy CTT on non-agriculture commodities futures  contracts  at 0.01% of the price of  the trade. CTT will be allowed as deduction if the income from such  transaction forms  part of business income. Import duty on Set Top Boxes raised from 5% to 10%. Import duty on  Luxury  Cars & vehicles &   Yachts  raised from 75% to 100%. Duty free Gold limit increased to Rs.50,000 in case of Male passenger &   Rs.1,00,000 in case of female passenger subject to conditions. Excise duty on SUV's increased from 27% to 30%, not applicable to SUV  registered  as Taxis. Effective custom duty on SUV's increased from 138% to 178%. Vehicle Parking now comes under Service Tax. PSU Banks to get Rs. 14,000 Cr for Recap &   Capital infusion of Rs. 12517 Cr by FY13. Home Loans upto Rs. 25 lakhs to be allowed additional deduction of interest of Rs.1 lakh. To set up India's first Women's Bank as a PSB with Rs. 1000 Cr as initial capital.  It will obtain the necessary approval & banking licence by October 2013. FY14 disinvestment target Rs. 40,000 Crs. Farm GDP was 3.6 % in 11th Plan in GDP growth of 5.6 %. GOV. will need $75 billion to finance Current Account Deficit over next 2 years. Investor holding stake of 10% or less in a company will be treated as FII. Investor holding stake of more than 10% in a company will be treated as FDI. FII will be permitted to use their investment in corporate bonds &   Gov. securities as collateral to meet their margin requirements. Small & medium enterprise incl. Start Ups will be permitted to list  on SME Exchange  without being required to make an Initial Public Offer,but the issue will be  restricted to informed investor. FII will be permitted to trade in Exchange Traded Currency Derivative  to the  extent of their Indian Rupee Exposure in India. Stock Exchanges to be allowed to introduce Dedicated Debt Exchange. JNNURM will be given Rs. 14873 Cr,this  will help in purchase of 10,000 buses by hilly stations. More institutions be allowed to raise Tax Free Bonds upto a total sum of Rs.50,000 Cr. Rajiv Gandhi Equity Saving Scheme to be liberalised -1st time investors can invest    into Mutual Funds & Listed shares for 3 successive years.  The income limit  will be raised from Rs. 10,00,000 to Rs. 12,00,000. Investment allowance @15% to manufacturing company that invests more  than Rs. 100 Cr in plant & machinery during 1.4.2013 to 31.3.2015. To introduce Inflation Indexed Bonds or Inflation Index National Security Certificates. To provide Low Cost finance to viable renewable energy projects and Generation based incentives for Wind Energy projects. Govt.  proposes to expand FM Radio services to 294 more cities & about 839 new FM radio channels will be auctioned in 2013-14,  All cities having  a population of more than 1 lkh will be covered by private FM radio   services. Defence sector allocated Rs. 2.03 lakh Cr. Corporate surcharge reduced from 7.5 % to 5 %. Dividend from foreign subsidiary to Indian companies down from 30 % to 15 % READ HERE TO KNOW MORE ON LONG TERM INVESTING -  CLICK HERE VIEW THE POWER POINT PRESENTATION ON RETURN ON CAPITAL
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