Budget India
Live Up-Date on Budget India - 26th Feb 2010
Budget Reviews
Latest Comments
"It's a budget to boost growth. An exceedingly good job. Well Done."
PM Manmohan Singh
"This would help in improving the health-care delivery mechanism which will indirectly help health insurers to serve their clients better,"
Krishnamoorthy Rao, CEO and MD, Future Generali India Insurance Co Ltd
"The middle-class will have a huge investible surplus in their hands because the lower income-tax levels."
Rajesh Relan, managing director, MetLife India Insurance Company Limited
"The government's agenda of inclusive growth has been reinforced with increased social spending and welcome measures like extension of the Rashtriya Swasthya Bima Yojana health insurance scheme to NREGA beneficiaries"
Mr Dasgupta, ICICI Lombard GIC
A boon for Income Tax Payers
The Finance Minister has given a surprising gift to common man in the form of significant expansion of income tax slabs. He has taken a small yet creditable step by enhancing the threshold limit. The surcharge has also been removed.
Because of the new tax rates people having a taxable income above Rs 3,00,000 and up to Rs 5,00,000 will now attract a tax at a lower rate of 10% as against 20% earlier. Therefore, the taxpayer will save 10% of his income between Rs 3,00,000 and Rs 5,00,000 in the new tax system. If his income is Rs 5,00,000, his net savings will be Rs 20,600 along with 3% education cess. The new tax rates have put more money in the wallets of the middle income group.
Corporate tax payers have also been benefited. The Finance Minister has unscrathed the base rate of corporate tax of 30% and education cess of 3% while he has reduced the levy of surcharge from the existing rate of 10% to 7.5% for corporate tax payers.
IT Sector cheers Pranab's Budget
IT industry has given thumbs up to Union Budget 2010 presented by the Finance Minister Pranab Mukherjee. Government's positive outlook on Special Economic Zones (SEZs) and some other Budget announcements are the reasons for the IT industry appreciating the Budget. Though disappointed over the Union Government's silence on the extension of tax breaks under the Software Technology Parks of India (STPI) scheme, the industry is not too worried and the bosses feel that there is still plenty of time left to negotiate the issue with the government.
Stock Market Salutes Pranab's Budget
Indian stock market made a very strong positive reaction after the union budget speech of Pranab Mukherjee. The sensex shot up over 391 points as the Finance minister announced huge public investments along with a reduction in surcharge for corporates in his budget speech.
Indian Union Budget Highlights
Inclusive Budget
The Union Budget 2010 carried loads of expectations and now, when it's finally showcased, let's have a look at the key aspects of Pranab's Budget 2010.
The salaried middle class can celebrate this budget by the reworked personal income tax slabs and a new tax exemption option. Most Indian corporates have reason to be happy with the surcharge on corporate tax coming down from 10% to 7.5%. As a whole the modifications in Income Tax can be termed as good.
Besides this, the announcements like the proposal to issue new banking licences to the private sector will surely please business groups for entry into the sector. Increasing the defense budget, healthy funding of infrastructure development schemes, stress on SEZs etc seem to be sufficient to make the country feel satisfied.
However, the common man will be hardly pleased with the hike in fuel prices and extended coverage of service tax to things like domestic air travel and under-construction houses etc. Increased cost of commodities like jewelery, refrigerators, tv etc will do no wonders to the suffering of 'aam aadmi'.
In spite of all these facts, the Budget seems to give more than it takes and deserves an honest appreciation. Let's wait for the application of Direct Tax Code which has been declared to be applicable from April 1, 2011. Hope that redued rates and fewer exemptions will help both the government and citizens.
Economic Survey - Highlights
Ahead of the Union Budget 2010-2011, Finance Minister Pranab Mukherjee presented Economic Survey 2009-2010. The economic survey focused on main concerns like high inflation and fiscal deficit which are expected to be addressed in the upcoming budget. The economic growth is projected at 8.5% (+/- 0.25%) in FY11 and also expected to grow at 9% in FY12, compared with projected growth of around 7.5% in the current year.
Main Highlights Of Economic Survey are :
- Virtually every second Indian has access to phone.
- Auction for 3G spectrum to provide existing and foreign players to bring in new technology and innovations.
- India world's 2nd largest wireless network with 525.1 million mobile users
- Gas output up 52.8 per cent to 50.2 billion cubic meters with RIL starting production
- Steel outlook for 2010 remains positive
- See shortfall in FY10 non-tax revenue on 3G delay
Indian Rail Budget Highlights
Popularist Rail Budget
Mamata Banerjee presented her much awaited Railway Budget 2010 by delivering a good news to the country that the Railways won't hike the passenger fares. Didi's budget was quite close to the anticipation as a 'popularist' budget.
The main highlights of the budget includes, the invitation for public-private partnership, special trains and services for sections of the society such as women, physically challenged, railway employees and even cancer patients, and many new train services.
The budget also set ambitious targets such as 1,000 km of railway line in a year, flagging off 117 trains in 7 months and addressed security issues by setting goals such as manning all unmanned bridges in five years. On the whole, the Railway Budget 2010 may be received as Bengal-biased as Mamata's Bengal agenda has come under the scanner.
Budget 2010-11 Highlights
Capture all the information related to the highlights of Union Budget (2010-11) here. See if the Finance Minister has lived up to your expectations or not.
Union Budget Speech :
This section is dedicated for you to be the first to read the word-for-word transcripts of India's Finance Minister in his speech on Union Budget of India 2009.
Budget Expactations :
Mr. Pranab Mukherjee will be in thick of the action when he rolls out the Union Budget (2010-11). See if this year's budget could meet the expectations of the people of India.
Rail Budget 2010-11 Highlights
Catch all the action of 2009 Railway Budget here with Surfindia. Get the budget highlights and latest information as the Railways Minister, Ms Mamta Banerjee unravels the Rail Budget.
Rail Minister Speech
Catch the entire transcript of budget speech in the parliament presented by the Railway Minister Ms Mamta Banerjee.
Rail Budget 2010-11 Updates
This section will acquaint you with all the updates of the newest edition of the Railway Budget (2010-11). Implementation of new fairs, more trains introduced and changes in rail facilities.
Rail Budget 2010-11 Review
Rail Budget presented by Ms Mamta Banerjee has invoked mixed reaction from all quarters.
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