Union Budget 2013-14: P Chidambaram presents his 8th Budget today

BT Online Bureau        Last Updated: February 28, 2013  | 18:34 IST
  • Service Tax exemption granted to films exhibited in cinema halls.
  • Zero excise duty at fibre stage for cotton; in case of yarn there will a duty of 12% at fibre stage.
  • Negative list on service tax increased to 19 from 17.
  • Abatement rates for luxury homes reduced.
  • Excise duty on cigarettes hiked again.
  • Excise duty on mobile phones costing more than Rs 2,000 increased to 6%.
  • 1% TDS on property sale of more than Rs 50 lakh, agricultural land exempted.
  • Duty cut on leather and leather goods.
  • Female passengers can bring duty free gold of up to Rs 1 lakh.
  • Male passengers can bring duty-free gold worth up to Rs 50,000.
  • Service tax to be levied on air-conditioned restaurants.
  • Excise duty on SUVs raised from 27 pc to 30 pc.
  • Increase in import duty on high end motor vehicles from 75% to 100% and on motorcycles from 60% to 75%.
  • Service tax and excise tax unchanged at 12%.
  • 1% Import duty on set top boxes and raw silk hiked by 5% to 10%.
  • 1% TDS on property sale of more than Rs 50 lakh, agricultural land exempted.
  • 0.01% Commodity Transaction Tax to be levied on non-agriculture items.
  • Direct Taxes Code: Work in progress.
  • Surcharge on dividend distribution tax raised from 5%to 10%.
  • No change in personal tax rates and slabs.
  • Tax credit of Rs 2000 for taxpayers with annual taxable income up to Rs 5 lakh.
  • 2-5 per cent surcharge on comapnies with income more than Rs 1 cr per year.
  • 10 pc surcharge on persons with income above Rs 1 cr per year.
  • Fiscal deficit for current fiscal estimated at 5.2%, 4.8% in next fiscal.
  • Nirbhaya Fund of Rs 1,000 cr set up for women safety.
  • 294 more cities to be connected by FM radio.
  • Rs 6245 cr for Scince and technology 15 per cent incentive over s 100 cr investment.
  • 15 per cent incentive over s 100 cr investment.
  • National Institute of Sports, Patiala gets Rs 200 cr; AMU, BHU get Rs 100 cr each.
  • Rs 203,672 for defence expenditure.
  • Rs 5.80 lakh crore to States and Union Territories.
  • Rs 800 cr for wind energy projects.
  • Widespread tinkering of capital markets rules in consultation with Sebi.
  • New definition for FDI and FII. foreign investment is less than/equal to 10%, then it is FII. More than 10% is FDI.
  • SEBI to simplify KYC norms governing foreign investors.
  • Group insurance cover extended to self-help groups, teachers in schools and nurses in hospitals.
  • Insurance companies will be able to start branches in tier 2 cities and below without approval of IRDA.
  • Propose to provide Rs 600 cr to rural housing fund in 2013-14.
  • Rs 2,000 cr for urban housing funds.
  • Introduction of inflation indexed bonds or certificates; details will be announced later.
  • Rs 14,000 cr capital infusion in public sector banks.
  • Govt must conform to timeframe set for GST.
  • India's first all-women public sector bank to be set up.
  • Schemes to benefit single and unemployed women.
  • Two new ports in West Bengal and Andhra Pradesh.
  • We need to reduce dependence on imported coal.
  • The natural gas pricing policy will be reviewed.
  • Rs 200 cr for new crop project.
  • Rs 7,000 lakh crore for farm loans.
  • Rs 5,000 crore to NABARD to build cold storages and godowns.
  • Rajiv Gandhi Equity Saving Scheme limit raised from Rs 10 lakh to Rs 12 lakh.
  • To promote savings, Inflation Index Security Certificate scheme to be introduced.
  • For home loans taken during 2013-14 interest exemption raised by Rs 1 lakh to Rs 2.5 lakh.
  • Rs 17, 500 cr for village roads.
  • Rs 55 lakh for infrastructure.
  • Cabinet Committee on Investment has been set up to monitor and guide the projects to remove bottlenecks.
  • The road construction sector faces challenges not envisaged earlier.
  • Tax-free bonds of Rs 50,000 crore to be issued for infrastructure development.
  • Rs 307 crore for National Livestock Mission.
  • Additional Rs 10,000 crore for Food Security Bill.
  • Rs 1,400 crore for water purification plants; to allocate Rs 15,260 crore for water, sanitation.
  • JNNURM is being continued in the 12th Plan; Rs 14,873 cr to be provided to the mission.
  • Rs 27,049 cr to be allocated to the agriculture ministry.
  • Watershed management crucial; Rs 5,387 cr allocated for Integrated Watershed Programme.
  • Agriculture Credit to be raised to Rs 7 lakh crore.
  • To allocate Rs 500 crore for crop diversification projects.
  • Indian Institute of Biotechnology to be set up in Ranchi.
  • 45 per cent hike in rural budget allocation.
  • Agricultural exports break all records.
  • Rs 33,000 cr to be allocated to MNREGA.
  • Rs 14,700 cr to National Urban Renewal Mission.
  • Will allocate Rs 17,700 cr to ICDS.
  • Food security bill to be passed at the earliest.
  • Rs 1,000 cr for eastern state developemnts.
  • Multi-sectoral programme to fight malnutrition will be implemented, Rs 300 cr to be allocated, 100 districts to be covered.
  • Allocation to Midday Meal Scheme Rs 13,215 cr.
  • We need $75 billion to fund our current account deficit account next year.
  • To allocate Rs 41,536 cr for SC, ST.
  • Rs 33,000 cr for employment guarantee programme.
  • The new national health mission will get 24.5% increase over the RE.
  • Sexual harassment at workplace to be taken care of; ministry of women and child development given Rs 200 cr for new schemes for the same.
  • Rs 110 cr to be allocated to department of disability.
  • Allocation of Rs 65,867 cr to Human Resource development.
  • Health and education to all remain our priority.
  • Getting back to higher growth rate a challenge.
  • Plan expenditure seen at Rs 5.53 lakh crore.
  • CAD high due to high imports in coal and oil.
  • Food inflation worrying.
  • Foreign investment is imperative.
  • Only China might grow faster than India.
  • Battle against inflation should be fought on all fronts.
  • No reason for gloom or pessimism.
  • Global economic growth slowed from 3.9% in 2011 to 3.2% in 2012.
  • Between 2004 and 2008 and again in 2009-10 and 2010-11 the growth rate was over 8%.
  • Chidamabaram begins Budget speech.
  • Union Cabinet approves General Budget 2013.
  • Finance Minister P. Chidambaram reaches Parliament to present India's 82nd Union Budget in the Lok Sabha.
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