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Union Budget 2010

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Okay Raaghavan Krishnamoorthy as an initiative i am starting a new thread to make our website traffic higher.

I am going to keep on updating on budget in live.

So friends contribute and help me to make the traffic of boddunan higher

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Dude, thanks for a very good response. I believe this thread gets good traffic. I will also join you dude, and will update the budget info tomorrow as I watch news, simultaneously. Hope we get support from more members. once this thread becomes hot tomorrow, you can edit your post and I will also change this post, so that we have only complete budget info.

Good initiative.
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The Finance Minister has entered into the parliament and going to submit the Budget and everyone's expectations is on the inflations of rice and sugarcane. The cultivation of rice this year has been dropped by 12000 tonnes and also sugarcane cultivation is also being dropped
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It is a very good idea.Thanks to Both Raghav and Deivigan.Hope the updates to appear soon.
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The Finance minister explains the last years budget and the growth made in last 12 months.

He said "We should improve our cultivation, Education and security for rural and urban people are the main objective.
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* Budget has to signal policies for future.
* Budget not a mere statements of accounts.
* Double digit inflation remains concern.
* Need to review the stimulus and move towards FISCAL consolidation.
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He also adds certain points like:

1. To implement Direct tax in April 1,2011.
2. Hope to reach 10% GDP in near future.
3. Hope to roll out GST by April 2011.
4. To raise 25,000 Crs in FY'10 from PSU disinvestment.
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:NMDC,SVJN stoke sale to fetch 25,000 Cr in FY'10.
:Oil min to take decision on Parikh report in due course.
:To make FDI policy more user friendly.
:RBI considering banking licenses to private players.
:More capital to strengthen rural banks.
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: Four hundred corers to boost form output in eastern India.
: Government to extent interest subvention of 2%.
: Government to take a firm view on opening up retail trade.
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Just now a poll report from NDTV till now [11:40 am]
GOOD BUDGET:36%
BAD BUDGET:58%
CAN'T SAY:6%
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: Farm credit target raised to 3.75 Cr for FY'11.
: Period of repayment for farm loan waiver extended to June 30, 2010.
: 1.73 lakh Cr for infrastructure [46% of plan allocation].
: Allocation to road infrastructure raised to 19,894 Cr.
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+ Allocation to power sector at Rs.5,130 Cr in FY'11.
+ Plan outlay for renewable energy raised to Rs.1000 Cr.
+ To establish National clean Energy Fund.
+ To provide one time grant for Tirupur exports [TN].
+ Government ready with draft food security bill.
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- Increase plan for school education of Rs.31,600 Cr.
- Social sector spending in FY'11 seen at 1.38 Cr.
- Extend interest subvention for housing loans up to Rs.10 lakh.
- Rs.22,300 Cr. to health ministry in FY'2011.
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* 25% of plan allocation for development of rural infrastructure.
* Allocation to NREGA scheme raised to 41,000 Cr.
* To allocate 48,000 Cr for Bharat Nirman in FY'2011.
* Rs.1,200 Cr assistance for drought in Bundhelkand.
* To allocate Rs.10,000 Cr for Indira Awas Yojana
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+ Social Security fund to have a corpus of over Rs.1000 Cr.
+ National Social Security find for unorganized sector.
+ Rs.66,100 Cr allocated for rural development.
+ Rs.54,000 Cr allocated for urban development.
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# Government to contribute Rs.1000/ month for pension security.
# Allotment for minority welfare raised to 2600 Cr.
# Allocation of Rs.1900 Cr for UID project in FY'11.
# Allocation of Defense raised to 1.47 lakh Cr.
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: Rs.60,000 Cr as capse for Defence sector.
: Gross Tax receipts seen at Rs7.46 lakh Cr in FY'11.
: Integrated plans to develop naxals affected areas.
: FISCAL deficit target of 5.5% in FY'11.
: To set up National Mission for delivery of Justice.
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FY'13 FISCAL deficit seen at 4.8%.
FY'11-5.5%[2010-2011].
FY'12-4.8%[2011-2012].
FY'10-Seen at 6.9% of GDP.
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Custom duty on Gold to be reduced
Renationalisation of customs on Gambling software

Tax audit limit increased to 60 lakhs for business


10 % tax for income range between 1.6 lakhs and 5 lakhs
20% - 5 to 8 lakhs
30% - Over 8 lakhs
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Deivigan

@deivigan_r

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Created Thursday, 25 February 2010 17:35
Last Updated Tuesday, 30 November -0001 00:00
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