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Union Budget 2011-2012(adil uchila)

Union Budget 2011-2012(adil uchila)

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Published by Adil Mohammed

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Published by: Adil Mohammed on Mar 10, 2011
Copyright:Attribution Non-commercial

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03/10/2011

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View on Union Budget 2011-12
 
Economic Over View
‡ Gross Domestic Product (GDP) estimated to have grown at 8.6 pecent in 2010-11 in real terms. Economy has shown remarkableresilience.‡ Continued high food prices have been principal concern this year.‡ Consumers denied the benefit of seasonal fall in prices despiteimproved availability of food items, revealing shortcomings indistribution and marketing systems.‡ Monetary policy measures taken expected to further moderateinflation in coming months.‡ Exports have grown by 29.4 per cent, while imports have recorded agrowth of 17.6 per cent during April to January 2010-11 over thecorresponding period last year.‡ Indian economy expected to grow at 9 per cent with an outside bandof +/- 0.25 per cent in 2011-12.‡ Average inflation expected lower next year and current accountdeficit smaller.
 
T
ax Reforms
‡ Direct
T
axes Code (D
T
C) to be finalised for enactmentduring 2011-12. D
T
C proposed to be effective from April1, 2012.‡ Areas of divergence with States on proposed Goods andServices
T
ax (GS
T
) have been narrowed. As a steptowards roll out of GS
T
, Constitution Amendment Billproposed to be introduced in this session of Parliament.‡ Significant progress in establishing GS
T
Network(GS
T
N), which will serve as I
T
infrastructure for introduction of GS
T
.

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