Union Budget 2011 in 100 points - Business News - IBNLive

Union Budget 2011 in 100 points - Business News - IBNLive

New Delhi: Here are some of the points of Budget 2011:

1. * Development needs to be more inclusive

2. * Need to ensure more private investment
3. * Agriculture supply needs to ease
4. * Stronger fiscal consolidation needed
5. * Service sector continues to grow
6. * Taking steps to simplify tax procedures
7. * Corruption is a problem, we have to fight it collectively
8. * Government has to reconcile ecological concerns with development aspirations
9. * Agriculture growth at 5.4 per cent in FY 2011
10. * Current account deficit a concern
11. * Introduction of DTC, GST will improve compliance
12. * Economy to grow at 9 per cent, plus or minus 0.25 per cent in 2012
13. * Will introduce Goods and Service tax rollout (GST) bill in current Parliament session
14. * High current account deficit a cause of concern
15. * Considering new fertiliser policy for urea
16. * Public Debt Management Agency Bill to be introduced next financial year
17. * Will move to direct tax subsidy for kersoene and fertiliser
18. * Direct Tax Code Bill likely to be passed by Parliament next financial year after getting Standing Committee report
19. * FII's allowed to invest in Mutual fund schemes
20. * Discussions on to liberalise FDI policy
21. * FII investment in corporate bonds hiked to $40 billion
22. * RBI guidelines for banking license by year end
23. * Government to keep up tempo of disinvestment process
24. * 100 crore equity funds for microfinance companies
25. * Bill to allow RBI grant more banking licences
26. * Portfolio investment would be permitted in SEBI registered mutual funds from foreign subscriptions
27. * Housing loan limit raised to Rs 25 lakh for priority sector lending
28. * 1 per cent interest subvention on home laons upto Rs 15 lakh
29. * New companies' bill in current Parliament session
30. * Removal of supply bottlenecks in food sector in focus in 2011/12
31. * Economy back to pre-crisis trajectory
32. * Set pace for double digit growth
33. * Bills on insurance, pension funds, banking to be introduced
34. * Women's self-help development panel to be set up
35. * Mortgage risk guarantee fund to be created for economically weaker sections
36. * Rs 3000 crore to NABARD for more credit flow
37. * 3 per cent subsidy to farmers in FY 2012
38. * Increase in target credit flow to farmers
39. * Private investment in Agriculture investment to be increased
40. * 15 mega food parks to be set up
41. * 24 new cold storage project sanctioned
42. * 40 lakh tonnes storage capacity by FY 12
43. * Rs 6,000 cr to be given to public sector banks to maintain capital-to-risk assets ratio norms
44. * Rs 30,000 crore tax-free infrastructure bond for railways
45. * Financial assistance for ongoing metro projects
46. * Existing interest subvention scheme on short term farm oans at 7 per cent interest to continue
47. * Agriculture growth key to development: Green Revolution waiting to happen in eastern region
48. * Five-fold strategy on Black Money
49. * 10 existing double axation avoidance treaties devised
50. * A new scheme to be introduced for refund of service tax on lines of drawback of duties
51. * Increased outlay on social sector schemes
52. * NREGA wages to be indexed to inflation
53. * Rs 58,000 crore allocation for Bharat Nirman schemes
54. * 24 per cent increase in education outlay
55. * Scholarship for needy students of SC/ST for Class IX-X
56. * National knowledge network by March 2012
57. * State innovaation councils to be set up
58. * Rs 54 crore each for AMU centres
59. * Remuneration of anganwadi workers raised from Rs 1500 to Rs 3,000 per month. Helpers to get Rs 1,500 from Rs 750
60. * Rs 21,000 crore to Surva Shiksha Abhiyan
61. * Rs 10,000 crore to rural telephony
62. * National mission for Hybrid electric vehicles
63. * Relaxation in exit age for BPL pension scheme
64. * Special allocations for cleaning rivers other than Ganga
65. * Integrated development schemes for Naxal areas
66. * Rs nine lakh ex-gratia for disabled defence personnel
67. * Rs 25-30 crore to fight Naxal menace
68. * Budget allocation of Rs 100 crore for Ladakh and Rs 150 crore for Jammu for implementation of projects identified by task force
69. * Relaxation for e-filing norms for small tax payers
70. * GoM to deal with corruption cases of public servants
71. * G0M recommendations in a time-bound manner
72. * Healthcare budget increased by 20 per cent
73. * Proposal for Rs 1,000 crore fund for judicial
74. * Rs 300 crore to be provided as assistance to states for modernising and stamps and registration administration
75. * New series of coins with new Rupee symbol to be introduced
76. * 10 lakh new UID's per day from October 1, 2011
77. * Increase in tax exemption limit to Rs 1.8 lakh
78. * Senior citizens: Reduction in qualifying age to 60
79. * Corporate surcharge reduced to five per cent
80. * MAT increased to 18.5 per cent
81. * Tax sop on infrastructure bond investment extended by an year
82. * Fiscal deficit brought down from 5.5 per cent to 5.1 per cent in 2010-11. In 2011-12, it will be 4.6 per cent
83. * Total plan expenditure will go up 100 per cent in nominal terms in the next year
84. * Revenue deficit fixed at 2.3 per cent in revised estimates of 2010-11 and 1.8 per cent in 2011-12
85. * Very senior citizen category: 80 years and above
86. * No rollback in service tax, to stay at 10 per cent
87. * Minimum alternate tax raised from 18 per cent to 18.5 per cent of book profits
88. * Hike in Service Tax on local and international travel
89. * Service, excise duty to stay at 10 per cent
90. * No excise duty on basic food, fuel
91. * Peak rate of customs duty unchanged
92. * 10 per cent excise duty on branded garments
93. * Net loss from direct tax proposals estimated at Rs 11,500 crore
94. * Central government debt in proportion to GDP will be 44.2 per cent in 2011-12
95. * Standard rate of central exercise duty maintained at 10 per cent
96. * Cut in excise duty on hybrid fuel kits
97. * No new tax exemption limit for women
98. * Basic customs duty on raw silk reduced from 30 to 5 per cent
99. * Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent
100. * Excise and customs duty proposals to result in the net gain of Rs 7,300 crore