Union Budget 2011 -2012 Highlights PDF uploaded .

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The Union Budget of India, referred to as the Annual Financial Statement[1] in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament. The budget has to be passed by the House before it can come into effect on April 1, the start of India’s financial year. Former Finance Minister Morarji Desai presented the budget eight times, the most by any.[2]
Budget Timing
Until the year 2000, the Union Budget was announced at 5 pm on the last working day of the month of February. This practice was inherited from the Colonial Era, when the British Parliament would pass the budget in the noon followed by India in the evening of the day.

It was Mr.Yashwant Sinha, the then Finance Minister of India in the NDA government (led by BJP) of Atal Bihari Vajpayee, who changed the ritual by announcing the 2001 Union Budget at 11 am.[5]

Budget 2011-2012 – see it live as it happens through this link.

Will update with the recorded link soon.

India Union Budget 2011 – 2012 – See it live is a post from: First Blog for Indian Financial Market

The indian Tax budget is out for 2010

Key Features of Budget 2010-11

GENERAL:

• Economic crisis: “We have withered the global slowdown well,” says FM.
• 18.9% growth rate in manufacturing sector in 2009.
• Fiscal deficit pegged at 5.5%
• Hope to breach 10% mark in GDP in near future, says FM.
• Growth to exceed 7.2% in this fiscal, says FM.
• General Sales Tax and Direct Tax Code can be introduced in April 2011
• Gradual phasing out of stimulus, says FM.
• Govt to set up apex level Financial Stability and Development Council
• RBI to release additional licenses to pvt sector banks and non-banking financial institutions
• Repayment tenure for farmer loans extended by 6 months to June 30th 2011
• Delhi-Mumbai industrial corridor taken up for development
• Govt to raise Rs 25000 cr through Disinvestment
• Technology advisory group to be set up under Nandan Nilekani. UID authority given Rs 1900 cr
• Allocation to Defence over Rs 147,000 crore

PRANAB MUKERJEE ( INDIAN FINANCE MINISTERS BUDGET 2010 )

DIRECT TAX:

• Direct tax code will be implemented from April 1, 2011
• I-T dept to notify simple two-page Saral 2 form for individuals for current year
• Direct Tax proposals to give loss of Rs 26,000 cr; Indirect Tax to yield gain of Rs 45,000 cr

• No change in Corporate Tax
• Minimum Alternate Tax up from 15% to 18% on book profits
• Reduced Surcharge of 10% on domestic companies to 7.5%
• Professionals with Rs 15 lakh income need accounts audit

Personal Taxation:

• Income up to Rs 1.60 lakh: NIL tax
• Income between Rs 1.60-5 lakh: Tax at 10%
• Income between 5-8 lakh: Tax at 20%
• Income above Rs 8 lakh: Tax at 30%
• Minimum Tax Exemption limit for Senior Citizens and Women remains unchanged; i.e. Rs. 2,40,000 and Rs. 1,90,000 respectively.
• Additional Rs 20,000 deduction made available for investment in Infrastructure Bonds. This is above Rs. 1,00,000 80C exemption

INDIRECT TAX:

• Service Tax rates unchanged at 10%, to bring more services under service tax
• Duties on smoking and non-smoking tobacco products up
• Peak excise duty hiked from 8% to 10%
• Peak customs duty remains unchanged at 10%
• Rs 1 per litre excise on petrol, diesel
• Full excise cut on electric cars
• Partial rollback of excise duty on cement
• Agricultural seeds exempt from Service Tax
• News agencies exempt from Service Tax
• Service tax to GDP ratio is 1%
• Customs duty on gold, platinum imports raised to Rs 300 from Rs 200
• Import duty on silver raised to Rs 1500 per kg

Union Budget 2010-2011 Highlights By Industry Wise , very good measure taken by government by posting the infromation immdiaetly on thw website.
You can download the highlights PDF from here.
You can watch the recorded Budget speech here.

Union Budget 2010-2011 Highlights By Industry Wise is a post from: First Blog for Indian Financial Market

Railway Budget 2010-2011 Highlights

>No hike in freight and passenger fare.
>New Janmabhoomi train between Ahmedabad and Udhampur
>Concession for children of accredited journalists up to 18 years.
>Free journey for cancer patients in sleeper and 3AC; 75 p.c. concession for companion
>Concession of Rs 100 on freight rates of food grains for domestic use, kerosene, fertlizer
>Survey will be conducted to connect Sealdah and Howrah stations in West Bengal
>Karmaboomi train for working class
>Bharatt threeth train to commomorate Rabindranath Tagore’s birth 150th anniversary.
>Matribhumi special trains for women
>Andaman and Nicobar Islands to get railway line from Port Blair to Diglipur
>Velachery-St.Thomas Mount MRTS link by 2012
>New suburban trains for Chennai
>Stations to be named after Bhagat Singh, Mother Teresa, Tipu Sultan, Bahadur Shah Zafar
>RPF to have women battalion
>Railways to have master plan for North Eastern region
>Insurance facilities for licensed porters as part of railway’s corporate social responsibility
>Kashmir role link to be extended to Sopore
>Rs 1,302 crore provided for passenger amenities
>Freight loading target for 2010—11 fixed at 944 million tonnes
>Several new lines announced.
>New train service to Dhaka, Bangladesh from Agartala.
>Gross traffic receipt for 2010—11 pegged at Rs 94,765 crore
>High—speed dedicated passenger corridors to be constructed
>Revenue from non—core business of Railways to go up from Rs 150 crore to Rs 1,000 crore
>Wagon Repair Shop to be set up in Badnera near Amravati in Maharashtra
>Railways saved Rs 2,000 cr from austerity drive
>10 more Duranto trains announced
>Service charge on AC fares cut to Rs 20
>101 new suburban trains for Mumbai
>Dedicated corridors will be implemented on time
>Land acquisition: One member from the family would be given employment in Railways
>Railways earned net profit of Rs. 1348 crores.
>Railways will be the lead partner in the Commonwealth Games in Delhi
>Railways to set up Rabindra Museum in Howrah and Geetanjali Museum in Bolpur — both in West Bengal — to commemorate Rabindranath Tagore’s 125th birth anniversary
>New testing facility in Bangalore
>Railways proposes modernisation of ICF, Chennai.
>New housing scheme for 14 lakh employees
>Railways to start six water bottling plants in places like Ambala, Thiruvananthapuram, Farakka, Amethi and Nasik to provide clean and cheap drinking water to passengers.
>Special task force for clearing investment proposals in 100 days
>New business model to be created
>Unmanned railway crossing will be phased out in five years
>Five sports academies to be set-up, including Delhi, Chennai, Secunderabad
>E-tickets to be made available at panchayat level
>Railways recruitment: Exams to be conducted in regional languages
>Railways recruitment: Simultaneous exams proposed
>Modern toilets to be introduced in stations
>No privatisation of Railways
>Six bottling plants for Rail Neer
>Fee waiver for economically weak
>Special drive for improving passenger amentities
>Railways target 1,000 km of new line in one year
>117 new trains flagged-off in the last financial year
>Special task force will be set up for early clearance of projects
>Mamata appeals to business houses to join hands for building partnership with Railways
>Our focus is inclusive growth: Mamata
>Mamata presents Railway budget in Lok Sabha

Source : hindu

Railway Budget 2010-2011 Highlights is a post from: First Blog for Indian Financial Market