Union Budget 2010-11 Final
Transcript of Union Budget 2010-11 Final
-
8/7/2019 Union Budget 2010-11 Final
1/28
-
8/7/2019 Union Budget 2010-11 Final
2/28
What is Budget ?
Importance
Common Man View Point What Young India Wants
Effects on Indian Economy
Conclusion
-
8/7/2019 Union Budget 2010-11 Final
3/28
A financial statement detailing theestimated receipts and expenditures ofthe central government for theforthcoming fiscal year and a financialreview of the current fiscal year
-
8/7/2019 Union Budget 2010-11 Final
4/28
India's public finance system follows theBritish pattern.
In India the Budget is presented in
Parliament on a date fixed by thePresident.
Date: 26-29 February
R K Shanmukhan Chetty (Nehru's Cabinet
1947-1949) presented the first Budget ofindependent India on November 26, 1947.
-
8/7/2019 Union Budget 2010-11 Final
5/28
Budgeting is an integral part of society By establishing a budget, Government
can set targets for achieving a certain
level of income and monitor expenses. Control of Fiscal Deficit and Inflation Monitoring Debt-To-GDP Ratio Social Spending
-
8/7/2019 Union Budget 2010-11 Final
6/28
-
8/7/2019 Union Budget 2010-11 Final
7/28
Fiscal deficit is essentially the differencebetween what the government spendsand what it earns. It is expressed as apercentage of GDP.
Challenge befor Govt is not just toreduce the fiscal deficit but also
reconfigure its spending away fromconsumption to investment.
-
8/7/2019 Union Budget 2010-11 Final
8/28
Curtailing the Excise duty and VAT.
A surge in global food and energy pricesthat added to India's subsidy burden
Abolition of Education Cess.
Reduction in Securities Transaction Tax
-
8/7/2019 Union Budget 2010-11 Final
9/28
-
8/7/2019 Union Budget 2010-11 Final
10/28
Bar Raise
To rise Tax free income slab rise from1,60,000 to 3,00,000
MAX. TAXRATE
Reducing the peak rate from current 30% to25%.
INVESTMENTLIMIT
Under Sec 80C Govt should increaseaggregate deductible limit from 1lakh to 2.5lakhs.
-
8/7/2019 Union Budget 2010-11 Final
11/28
CONT..
HOUSINGBENEFITS
T ri ti f r Int n nfr . l t l .
MEDICAREIMBURSEMT
T x fr li it f R 000 lb incr .
TRANSPORTATION
Tr nsp rt ti n ll w nce f Rs800/ nt shoul be increased.
-
8/7/2019 Union Budget 2010-11 Final
12/28
Reduction in prices of garments. Measure to prevent food wastage.
GARMENT &FOOD
PROCESSING
Reduction in the prices of products Getting more companies and services under
the tax net.
GSTimplementation
Improvement in the foreign investments Enable Indian students to avail the
international education at affordable costs .
FOREIGNINVESTMENT
-
8/7/2019 Union Budget 2010-11 Final
13/28
CONT
Government's increasedspending on infrastructure will
push domestic production.INDUSTRY
Allocation for the textile sector
has been increased to Rs.4,500crore from Rs.4,090 crore .
TEXTILEINDUSTRY
-
8/7/2019 Union Budget 2010-11 Final
14/28
Impact on Various Sectors
-
8/7/2019 Union Budget 2010-11 Final
15/28
Union Budget 08-09 Highlights
-
8/7/2019 Union Budget 2010-11 Final
16/28
Union Budget 09-10 Highlights
For Men
Upto Rs. 1,60,000/- Nil
For Women
Upto Rs. 1,80,000/- Nil
For resident individual of 65 years or above
Upto Rs. 2,40,000/- Nil
Personal Tax Removal of 10 per cent surcharge
Removal of Fringe benefit tax and Commodities transaction tax
-
8/7/2019 Union Budget 2010-11 Final
17/28
Taxes
Exemption limit of individual taxes to Rs3 lakhs from Rs1.60 lakhs for salariedpeople
Exemption limit for women is expectedto be increased from 1.80 lakhs to 4
lakhs and for senior citizen from Rs 2lakhs to 5 lakhs
-
8/7/2019 Union Budget 2010-11 Final
18/28
Corporate Tax
A reduction of 30% is expected in thecorporate tax
Introduction of Direct Tax Code (DTC)suggesting a 25% rate
-
8/7/2019 Union Budget 2010-11 Final
19/28
Capital Gains Tax
Finance minister is unlikely to bring anyreform in this category of tax.
It is predicted to be included under theDirect Tax Code, to be implementedfrom April 2011.
Gratuity Limit: Expected to be raised toRs10 lakhs from Rs 3.5 lakhs.
-
8/7/2019 Union Budget 2010-11 Final
20/28
Self Assessment Slab
The self assessment slab forbusinessmen and professionals is Rs 40lakhs at present.
According to expectations, the slab maybe revised to Rs 1 crore to lower the
burden felt by the business people andprofessionals
-
8/7/2019 Union Budget 2010-11 Final
21/28
Expectations
No Direct Tax Code in Budget
Reasons
ReformingIdeal Tax Structure forcountry like India
Complicated Implementation
-
8/7/2019 Union Budget 2010-11 Final
22/28
-
8/7/2019 Union Budget 2010-11 Final
23/28
Comparison
Budget 2009-10 Expectations
Target for agriculture creditflow set at Rs.3,25,000 crore
higher than previous year. Interest subvention scheme
for short term crop loans.
Accelerated Irrigation BenefitProgramme inc. by 75%.
Rashtriya Krishi Vikas Yojanastepped up by 30%.
Allocated Rs.6 billion
in the 2010 Budget.
Continue the interestsubvention scheme .
Every year 4 % growthrequired to have anotherrevolution.
-
8/7/2019 Union Budget 2010-11 Final
24/28
EDUCATIONSECTOR:
2009-10 EXPECTATIONS 2010-11
Public spending on educationcontinues to remain at a lowof 3.37 per cent of the GDP.
The outlay on HigherEducation has been increased
900 per cent in the EleventhFive Year Plan.
Loan accounts haveincreased from 3.14 lakhs to14.09 lakhs.
Need for greaterallocation for the healthand education schemesbesides better utilisation
and accountability andcommitment towardsthem for the uplift of SCsand STs.
-
8/7/2019 Union Budget 2010-11 Final
25/28
INFRASTRUCTURESECTOR:
2009-10 EXPECTATIONS 2010-11
Allocation of Rs39.7bnunder JNNURM toimprove housing sector.
Allocation increased by
59% to Rs 120 bn toimprove roads.
Allocation increased toRs 20.8bn , a rise of160% from previous year
under APDRP in powersector.
India has announcedstimulus packagesequaling 12% of GDP.
The 11th plan hasprojected $500bninvestment b/w 2007-12.
Govt aims to achieveinvestment of 9% of GDP
by 2011/12.
-
8/7/2019 Union Budget 2010-11 Final
26/28
Export/Import Sector
Expect the Import tariffs to come downin the Exam Policy to a maximum tuneof 40 %.
Cut import duty on hybrid cars.
The gems and jewelry industry hassought zero duty and open general
license (OGL) on gold imports in theforthcoming Union Budget.
-
8/7/2019 Union Budget 2010-11 Final
27/28
And Just Before stoppinga few clips
about what various sectors wish
about Budget 2009-11
Real Estate
Food And Bevarages
IT Sector
Agriculture
-
8/7/2019 Union Budget 2010-11 Final
28/28