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Presented byprity mittal

‡ The Gross Tax Receipts are estimated at Rs.7,46,651 crore. The Non Tax Revenue Receipts are estimated at Rs.1,48,118 crore. ‡ The total expenditure proposed in the Budget Estimates for 2010-11 is Rs.11,08,749 crore, which is an increase of 8.6 per cent over the total expenditure in BE 2009-10. ‡ The Plan and Non Plan expenditures in BE 2010-11 are estimated at Rs.3,73,092 crore and Rs.7,35,657 crore, respectively. ‡ The fiscal deficit of 5.5 per cent of GDP in 2010-11 works out to Rs.3,81,408 crore.

BUDGET 2010-2011(HEADLINES)
‡ ‡ ‡ ‡ ‡ ‡ ‡ Rs 3000 Crs for agricultural impetus Farm loan payments to be extended for six months Fertiliser subsidy to be reduced Rs 100 Cr woman farmer fund scheme Coal regulatory authority to be set up Clean energy fund to be established Interest subvention of 2% to be extended for handicrafts and SMEs ‡ Rs 200 Crs for Tamil nadu textile sector ‡ Economy can achieve GDP growth of 10% ‡ Interest subvention for housing loans up to 1 lacs

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Defence capex raised to Rs 60000 Crs Divestment target of Rs 25,000 Crs Rs 1200 Crs assistance for drought in Bundelkhand Rs 48000 Crs for Bharat Nirman NREGA scheme allocation raised to Rs 41000 Crs Allocation to health Rs 22,300 Crs 15% rise in planned expenditure

‡ Government to contribute Rs 1000 per month for pension security ‡ Rs 5400 Crs allocated for urban development ‡ Rs 66100 Crs allocated for rural development ‡ Gross tax receipts Rs 7.46 lac Crs ‡ Allocation to power sector at Rs 5130 Crs ‡ Rs 10,000 Crs allocated for Indira Awaas Yojna ‡ Rs 2400 Crs for MSMEs ‡ Televisions to be costlier

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Allocation to defence raised to Rs 1.47 lac Crs Jewellery to be more expensive CDs to be cheaper Excise duty on CFL halved to 4% Fiscal deficit target of 5.5% in FY11 Excise on all non smoking tobacco raised Allocation for school education up from Rs 26800 Crs to Rs 31036 Crs ‡ Mobile phones to become cheaper ‡ Cement to be costlier ‡ Refrigerators to be costlier

key aspects of Pranab's Budget 2010.
‡ The surcharge on corporate tax coming down from 10% to 7.5%. As a whole the modifications in Income Tax can be termed as good. ‡ Fuel prices likely to go up The fuel prices are likely to go up very soon. Finance minister Pranab Mukherjee announced in the parliament today that excise duty on petrol and diesel will be raised to Rs 1/litre. In petrol-increased by Rs2.82 In diesel-increased by Rs2.83

Main Highlights Of Economic Survey are

‡ Auction for 3G spectrum to provide existing and foreign players to bring in new technology and innovations. ‡ Gas output up 52.8 per cent to 50.2 billion cubic meters with RIL starting production . ‡ Steel outlook for 2010 remains positive ‡ See shortfall in FY10 non-tax revenue on 3G delay

Cheaper

Costlier

Gaming softwares

Jewelery

Toys

Gold and Platinum

CDs

Refrigerators

CFLs

Televisions

Mobile Phones

Cement

Air Conditioners

Cigarettes

SUVs

Fuel

‡ Income Tax Slabs Relaxations and Slab Restructured
The new slabs include 30% tax on income above Rs 8 lacs 20% tax on income between Rs5 lacs to 8 lacs and 10% tax on income between Rs1.6 lacs to 5 lacs. ‡ Pranab also said that the subsidy on fertlizers is to be reduced. To strile a balance, there is also an announcement of 2% subsidy on loans to the farmers

‡ FOR DEFENCEFinance minister while presenting the union budget 2010-11 announced a raised fund for defence increased to Rs 1.47 lac Crs. ‡ Government proposes to recruit about 2,000 youth as constables in five Central Para Military Forces in the year 2010. ‡ DIS-INVESTMENT target of Rs. 25,000 crore ‡ For Handicrafts Pranab Mukherjee announced in the parliament an interest subvention of 2% to be extended for handicrafts and SMEs. ‡ The finance minister also said that Rs 200 Crs will be spent for Tamil Nadu textile sector..

‡ In banking-There is good focus on the Banking sector as more banks will be encouraged. The budget is also a step in strengthening the Manufacturing sector.

AGRICULTURE
‡ Target for agriculture credit flow set at Rs 375000 cr (2010-2011)and in year 2009-2010 Rs325000

‡ ENERGY-In Oil India Limited, NHPC, NTPC and Rural Electrification Corporation while the process is on for National Mineral Development Corporation and Satluj Jal Vidyut Nigam. The Government will raise about Rs.25,000 crore during the current year. ‡ For Rashtriya Krishi Vikas Yojana Provision for Rs.300 crore for water harvesting, watershed management and soil health, to enhance the productivity of the dry land farming areas. ‡ HIRING GODOWNS-This deficit in the storage capacity is met through an ongoing scheme for private sector participation where the FCI has been hiring godowns from private parties for a guaranteed period of 5 years. This period is now being extended to 7 years.

FOR FARMERS
‡ The Debt Waiver and Debt Relief Scheme for Farmers was a major initiative of the UPA Government. In view of the recent drought in some States and the severe floods in some other parts of the country, It propose to extend by six months the period for repayment of the loan amount by farmers from December 31, 2009 to June 30, 2010. ‡ In the last budget, It had provided an additional one per cent interest subvention as an incentive to those farmers who repay their short-term crop loans as per schedule. propose to raise this subvention for timely repayment of crop loans from one per cent to two per cent for 2010-11

‡ Food park projects- In addition to the ten mega food park projects already being set up, the Government has decided to set up five more such parks. Infrastructure In the Budget for 2010-11, It provided Rs.1,73,552 crore, which accounts for over 46 per cent of the total plan allocations, for infrastructure development in the country ‡ It propose to raise the allocation of road transport by over 13 per cent from Rs.17,520 crore to Rs.19,894 crore.

‡ FOR BACKWARD DISTRICTS INFRASTRUCTURE- It propose to enhance the allocation to this fund by 26 per cent from Rs.5,800 crore in 2009-10 to Rs.7,300 crore in 2010-11. ‡ It have also provided an additional central assistance of Rs.1,200 crore for drought mitigation in the Bundelkhand region in the Budget ‡ Indira Awas Yojana. For the year 2010-11, the allocation for this scheme is being increased to Rs.10,000 crore.

‡ FOR RAILWAY-Provision for Rs.16,752 crore in the Budget for 2010-11 for Railways to lend her a helping hand. This is about Rs.950 crore more than last year. ‡ FOR POWER SECTOR-More than doubled the plan allocation for power sector from Rs.2,230 crore in 2009-10 to Rs.5,130 crore in 2010-11. ‡ FOR COAL SECTOR-Government proposes to take steps to set up a "Coal Regulatory Authority" to create a level playing field in the coal sector.

‡ For New and Renewable Energy It propose to increase the plan outlay by 61 per cent from Rs.620 crore in 2009-10 to Rs.1,000 crore in 2010-11. ‡ provision for Rs 500 crore to set up solar, small hydro and micro power projects in Jammu and Kashmir. ‡ Preservation of the natural resources. It propose to provide a sum of Rs.200 crore as a Special Golden Jubilee package for Goa. ‡ The "Mission Clean Ganga 2020" under the National Ganga River Basin Authority (NGRBA) It propose to double the allocation for NGRBA in 2010-11 to Rs.500 crore. ‡

‡ EDUCATION-It propose to increase the plan allocation for school education for all children in the age group of 6 to 14 years from Rs.26,800 crore in 2009-10 to Rs.31,036 crore in 2010-11. ‡ In addition, States will have access to Rs.3,675 crore for elementary education ‡ FOR HEALTH-Provision for Rs.19,534 crore to Rs.22,300 crore for 2010-11.

FOR RURAL DEVELPOMENT
‡ For the year 2010-11, It propose to provide Rs.66,100 crore. ‡ The allocation for NREGA has been stepped up to Rs.40,100 crore in 2010-11. ‡ Bharat Nirman has made a substantial contribution to the upgradation of rural infrastructure through its various programmes.For the year 2010-11, I propose to allocate an amount of Rs.48,000 crore for these programmes.

Urban Development and Housing
‡ Swarna Jayanti Shahari Rozgar Yojana For the year 2010-11, It propose to increase the allocation for urban development by more than 75 per cent from Rs.3,060 crore to Rs.5,400 crore. ‡ For Housing and Urban Poverty Alleviation is also being raised from Rs.850 crore to Rs.1,000 crore in 2010-11. ‡ The Rajiv Awas Yojana (RAY) It propose to allocate Rs.1,270 crore for 2010-11 as compared to Rs.150 crore last year for slum dwellers and urban poor. This marks an increase of over 700 per cent.

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Micro, Small and Medium Enterprises (MSMEs).propose to raise the allocation for this sector from Rs.1,794 crore to 2400 crore.

‡ Provision for Rs 1000 crore for weavers, toddy tappers, rickshaw pullers, bidi workers etc. ‡ FOR SCHOLARSHIP OF POST METRIC STUDENT(SCS AND OBC) Provision for Rs.4500 crore. This amounts to an increase of 80 per cent as compared to 2009-10. ‡ FOR MINORITY AFFAIRS-provision has been increased from Rs.1,740 crore to Rs.2,600 crore for the year 2010-11.

‡ New Pension Scheme (NPS) (for retirement people) Government will contribute Rs.1,000 per year to each NPS account opened in the year 2010-11. ‡ FOR ENHANCEMENT OF SKILL- The Council has a mission of creating 50 crore skilled people by 2022. for this approved three projects worth about Rs.45 crore to create 10 lakh skilled manpower at the rate of one lakh per annum. ‡ The Ministry of Textiles has set an ambitious target of training 30 lakh persons over 5 years

Symbol for Indian Rupee
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In the ensuing year, we intend to formalise a symbol for the Indian Rupee, which reflects and captures the Indian ethos and culture. With this, Indian Rupee will join the select club of currencies such as the US Dollar, British Pound Sterling, Euro and Japanese

‡ The Thirteenth Finance Commission has provided grants amounting to Rs.5,000 crore for the States to improve the delivery of justice, including strengthening of alternate dispute resolution mechanisms.