India Budget Highlights 2009-2010
July 6th,
2009
2009
Highlights Of Indian Budget 2009 -2010.
- Pranab Mukherjee ends speech by quoting Gandhi
- Govt committed to tax reforms
- Hike in IT exemption to Rs 2,40,000 for senior citizens
- Commodities Transaction Tax to be scrapped
- Fringe Benefit Tax to be scrapped
- Service tax to be levied on law firms
- 10 pc surcharge on personal income tax scrapped
- Excise duty on petrol-driven small trucks down to 10%
- Exemption of duty on goods made at construction sites restored
- Drugs for heart diseases to become cheaper
- Customs duty on gold and silver import increased
- Mobile phone accessories to become cheaper
- Pranab’s Budget brings little cheer for the markets
- Branded jewellery for women to become cheaper
- Customs duty on bio-diesel reduced
- Tax holiday extended for textile units
- Small businesses exempt from advance tax
- Custom duty on LCD panels halved
- Set-top boxes to cost more
- Anonymous funds to charitable bodies to get some tax relief
- MAT hiked to 15% of book profit
- Hike in IT exemption for women to Rs 1,90,000
- General Sales Tax model will have a Central GST and State GST
- Share of direct taxes has increased to 56 per cent in 2008-09
- GST to come into effect from April 01, 2010
- Corporate tax unchanged
- New tax code to be set up in 45 days
- Goods and Services Tax to be introduced from April 1, 2010
- Total budget expenditure for 2009-10 will Rs 10,28,032 cr
- Plan expenditure, for both Centre and States, to go up by Rs 61,000 cr
- Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
- Higher public investment in infrastructure
- Defence outlay has gone up
- Rs 1,000 cr for Aila rehabilitation to West Bengal
- Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
- Rs 2,113 cr for IITs and NITs
- Funds for GSI to enhance exploration of minerals
- New pension benefits for 12 lakh jawans and JCOs
- Pension of non-commissioned officers to be hiked
- Allocation for rehab of Lankan Tamils
- One lakh dwelling units for paramilitary forces to be built
- Commonwealth allocation hiked to Rs 3472 crore
- Allocation of Rs 50 cr to Chandigarh University
- Govt to hike allocation to National Ganga Project to Rs 562 cr
- One rank, one pension for ex-servicemen from July 1
- Allowances to para-military forces at par with defence forces
- Unique Identification ID project to roll out in 12-18 months
- Unique Identification ID project to tap private talent
- Allocation for NRHM to be raised by Rs 257 cr
- National action plan on climate change
- Full interest subsidy for students in approved institutions
- Modernisation of national employment exchanges
- 50% cent of rural women in self-help groups
- Rural mega clusters in Bengal and Rajasthan
- Interest subsidy for home loans up to Rs 1 lakh
- Interest subsidy on education loans
- Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore
- Rs 2,000 cr for rural housing fund under National Housing Bank
- National Mission for female literacy
- NREGA allocation up 144%
- Work on National Food Security scheme for subsidised food
- Rs 100 cr one-time grant to expand banks in unbanking areas
- Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
- Allocation for PM Gram Sadak Yojna up by 59 per cent
- Mandate for inclusive growth
- Strengthen the delivery mechanism for healthcare
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