BUDGET HIGHLIGHTS
* Govt plans to bring back economy to high growth of 9%
* GDP growth dipped to 6.7% in FY'09
* FM to make pre-budget talks with state FMs annual affair
* Fiscal deficit up from 2.7% to 6.8% of GDP
* Return to fiscal prudence at the earliest
* 'Aam admi' is focus of all programmes and schemes
* IT exemption limit raised; Rs15,000 for senior citizens
* Limit raised by Rs10,000 for tax payers, including women
* 10% surcharge on personal income tax scrapped
* Fringe Benefit Tax abolished
* No change in corporate tax
* Defence gets Rs1.4 trillion, up 34%
* Total fiscal stimulus in 2008-09 amounts to Rs 1.9 trillion
* IIFCL to evolve mechanism for increased funding of infra
* IIFCL to re-finance commercial bank loans up to 60% in critical projects through PPP to tune of Rs1 trillion
* Allocations for highways being stepped up by 23%
* Funds for housing, amenities for urban poor up Rs39.7 billion
* Funds for JN Urban Renewal Mission up 87% to Rs128.9 billion
* Assistance for storm-water drainage project up by Rs3 billion
* Farm credit target up at Rs3.3 trillion from Rs2.9 trillion
* Interest rates incentive to farmers to repay loans on time
* Additional Rs10 billion for accelerated irrigation scheme
* Export Credit Guarantee scheme extended till March 2010
* 2% interest subvention (IS) scheme extended till March 2010
* IS scheme to cover 7 job-oriented sectors, including textile, handicrafts and handlooms.
* Commodity Transaction Tax abolished
* New pension system trust exempted from STT DDT
* Minimum Alternate Tax hiked to 15% from 10%
* Tax holiday on petro sector extended to natural gas
* 100% tax deduction on political donation
* Stimulus for print media for another six months
* Fertilizer subsidy to be nutrient-based, not price
* Expert Group to form viable pricing for imported petro goods
* Banks and insurance firms to remain in public sector
* Rs1 billion one-time grant to expand banks in unbanked areas
* Govt committed to provide Rs100 a day as wages under NREGA
* Allocation of Rs391 billion to be made for NREGA, NREGA coverage increased to 4.

INCOME TAX RATES
1. General Tax Payers
Up to Rs 160,000………………………NIL
Rs 160,001 to Rs 300,000………..10%
Rs 300,001 to Rs 500,000………..20%
Rs 500,000 and above………………30%

2 For Women
Up to Rs 190,000……………………….NIL
Rs 190,001 to Rs 300,000………..10%
Rs 300,001 to Rs 500,000…………20%
Rs 500,000 and above……………….30%

3 For Senior Citizens
Up to Rs 240,000……………………….NIL
Rs 240,001 to Rs 300,000…………10%
Rs 300,001 to Rs 500,000…………20%
Rs 500,000 and above……………….30%

Like this story? Get our top stories by email.

User

Return of the Bulls?

A rally may be round the corner but it will be for nimble traders

Last fortnight, I had said that we might be on the verge of a serious decline. At the time of writing that piece, the Sensex was at 15,238. Within a week, the Sensex was threatening to break 14,000. But, as I write this piece during the last 15 minutes of trading on Friday 26th June, the Sensex had crossed 14,700. The serious...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Fun Summit

A recent summit of mutual funds (MFs) generated a plethora of ideas on the future of fund industry and how it can grow. Many of the ideas are self-serving; others smack of ignorance. Here is selection of views aired at the summit and our comments

RETAIL INVESTORS
If the MF industry relies on corporate money and then claims that it has a large corpus, it is a mistake. Importance of...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)