It is best budget in 2012 and some society has in disappointment for this 2012th budget and also railway budget is also available here.
Industry is struggling to see some
positive in it. Allies have nothing to
crib about. The Opposition sounds
stretched to slam it with much
enthusiasm. The biggest criticism of
Pranab Mukherjee’s Budget 2012-13
comes from Dalal Street. India's
benchmark Sensex closed 210 points
lower as corporates said the higher
excise duty and service tax
proposed in the Budget would hurt
growth.
The Nifty too closed lower the finance minister has also
proposed to retrospectively change
the tax law as far as the Vodafone
case is concerned and this will not
go down well with foreign investors,
analysts say.
BUDGET LISTS:
1. Income tax exemption limit
raised to Rs.2 lakh to provide
relief of Rs.2,000 for all
assessees; 20 per cent tax on
income over Rs.10 lakh, up
from Rs.8 lakh.
2. Deduction of up to Rs.10,000
from interest from savings
bank accounts.
3. Defence to get Rs.1.93 lakh
crore during 2012-13.
Service tax rate raised from 10
per cent to 12 per cent to bring
in Rs.18,660 crore.
4. Number of proactive steps
taken on black money (stashed
away abroad); information has
started flowing in, prosecution
to be initiated; White Paper in
current session.
5. No change in corporate taxes
but measures to enable them
better access funds.
6. Withholding tax on external
commercial borrowings
reduced from 20 per cent to
five per cent for power,
airlines, roads, bridges,
affordable houses and fertiliser
sectors.
7. Infusion of Rs.15,888 crore in
public sector banks, regional
rural banks and NABARD in
2012-13.
8. Infrastructure will require
Rs.50 lakh crore in 12th Plan,
half of this from the private
sector.
9. Completion of highway projects
44 per cent higher than in
previous fiscal.
10. External commercial
borrowing of up to $1 billion
permitted for airline sector.
External commercial
borrowings permitted to low-
cost housing sector.
11. From 2012-13, full subsidies for
providing food security; in
other sectors to the extent the
economy can bear this.
12. Hope to raise Rs.30,000 crore
from disinvestments.
New equity savings scheme to
provide for income tax
deduction of 50 per cent for
those who invest Rs.50,000 in
equity and whose annual
income is less than Rs.10 lakh.
Corporate market reforms to be
initiated.
13. Bills on micro-finance
institutions, national land bank
and public debt management
among those to be introduced
in 2012-13.
14. National Skill Development
Fund allocated Rs.1,000 crore.
Four thousand residential
quarters to be constructed for
paramilitary forces with an
allocation of Rs.1,185 crore.
15. National Population Register to
be completed in two years.
Excise duty raised from 10 to
12 per cent.
16. Cinema industry exempted
from service tax.
17. Branded silver jewellery fully
exempt from excise duty.
18. Customs duty on warning
systems/track upgrade
equipment for railways
reduced from 10 per cent to 7.5
per cent.
19. Import duty on equipment for
iron ore mining reduced from
7.5 to 2.5 per cent.
20. Allocation of Rs.200 crore for
research on climate change.
Irrigation and water resource
company to be operationalised.
21. National mission on food
processing to be started in
cooperation with state
governments.
22. Integrated Child Development
Scheme to be strengthened and
restructured with allocation of
Rs.15,850 crore.
23. Allocation of Rs.14,000 crore
for rural water supply and
sanitation.
24. Addressing malnutrition, black
money and corruption in public
life among five priorities in
year ahead.
25. India's inflation structural,
driven largely by agricultural
constraints.
26. Current account deficit 3.6 per
cent in 2011-12; this put
pressure on exchange rate.
27. Growth in 2012-13 estimated at
7.6 per cent; expect inflation to
be lower.
28. Better monitoring of
expenditure on government
schemes.
29. Fiscal 2011-12 year of recovery
interrupted; reality turned out
to be different.
30. GDP growth in 2011-12
estimated at 6.9 per cent; had
to battle double digit inflation
for two years.
31. Good news: agriculture and
services continued to perform
well; economy is now turning
around; recovery in core
sectors.
32. Now at juncture where it is
necessary to take hard
decisions; have to accelerate
pace of reforms.
And we have an option to download this budget 2012 lists in pdf format and also here available all railway budget..
