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India Union Budget 2010

India Union Budget 2010

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Published by jaguarmcs
India Union Budget 2010
India Union Budget 2010

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Published by: jaguarmcs on Mar 10, 2010
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09/18/2010

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India Union Budget FY2010-11
Impact Analysis 
By: iFASTResearch Team
 
Key Highlights
Focus on fiscal consolidation by reducing the fiscal deficit from 6.9% in FY10 to5.5% in FY11. Aim to reduce fiscal deficit to 4.1% by FY13
The actual net market borrowing of the Government in FY2010-11 would be aroundRs.3,45,010 crore, 13% lower than the previous fiscal
Plans to raise about Rs. 40,000 croresin FY11 through disinvestment of stake ingovernment owned companies, after planning Rs. 25,000 croresin FY10
3G spectrum auctions to raise about Rs. 35,000 crores
Reduction in personal taxes by widening the tax slabs
CENVAT increased by 2%, from 8% to 10%
Increase in MAT from 15% to 18%
Corporate surcharge to be reduced from 10% to 7.5%
 
Key Highlights
 –
Contd..
Direct Tax Code and GSTto be implemented from 1 April 2011
Deduction of Rs. 20,000 allowed for investment in long-term infrastructure bonds ,over and above the existing limit of Rs.1 lakhunder Section 80C
Restore the basic duty of 5% on crude petroleum; and 7.5% on diesel and petrol.Central Excise duty on petrol and diesel enhanced by Re.1 per litreeach. Price ofdiesel and petrol to rise by Rs 2.58 and Rs. 2.67 respectively
Service tax to be retained at 10% and to pave the way forward for Goods andServices Tax (GST)
Governmentto set up a Coal Regulatory Authority for pricing and competitivebidding process for allocation of coal plus a cess on coal of Rs. 50 / tonne
Emphasis on Renewable Energy and Green Initiatives for this budget

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