The Live Commentary of Union Budget 2010 - 11:
- FY11 net service gains seen at Rs 3,000 cr
- Service tax to GDP ratio 1%
- Service tax unchanged at 10%, to maintain stimulus
- To waive excise duty on solar panels
- Fresh services to be brought under service tax
- Rationalisation of customs duty on gaming software
- Toys exempted from excise duty, to become cheaper
- Jewellery to be more expensive
- Monorail granted project import status
- CDs to be cheaper
- Excise duty on CFL halved to 4%
- Customs duty on Gold and Platinum hiked
- Refrigerators to be costlier
- Televisions to be costlier
- Mobile phones to become cheaper
- Peak customs duty unchanged at 10%
- Cement to be costlier
- Air conditioners to be costlier
- Oppostion walkout in Lok Sabha
- Uproar in Parliament over hike in fuel prices
- Partial rollback of excise duty on cement
- To levy excise duty of Re 1/lt on petrol
- Excise on cigars, cigarettes to go up
- 5% import duty on crude petroleum restored
- Opposition disrupts budget speech
- Peak excise duty increased
- Stimulus-led excise duty rollback partially reversed
- Large cars, SUVs excise up to 22% from 20%
- Standard excise rate up from 8 to 10%
- Deduction up to Rs 20000 on investment in infra bonds
- Corporate tax surcharge down from 10 to 7.5%
- R&D Corp Tax break up to 200%
- Corp Min Alternate Tax up from 15 to 18%
- Minimum Alternate tax hiked to 18%
- 30% tax on income above Rs 8 lacs
- 20% tax on income between Rs5 lacs to 8 lacs
- 10% tax on income between Rs1.6 lacs to 5 lacs
- No income tax upto Rs 1.6 lakh
- 2009-10 fiscal deficit revised to 6.9%
- FY12 fiscal deficit target at 4.8%
- FY13 fiscal deficit target at 4.1%
- More than 50% increase in funds for minority welfare
- Gross tax receipts: Rs 7.46 lakh cr
- 5.5 % fiscal deficit target
- 15% hike in planned expenditure, 6 in non-planned
- Defence allocation at Rs 1.4 lakh crore
- Home loans up to Rs 20 lacs to get intrest subvention of 1% up to March 11
- Rs 1900 Crs allocated for UID project
- Tech advisor group under Nandan Nilekani
- Rs 100 cr woman farmer fund scheme
- Banks for all villages with population of 2,000
- Interest subvention for low-cost housing extended
- Textile ministry will train 30 lakh people
- National Social Security fund for unorganised workers
- Intrest subvention for housing loans up to 1 lacs
- Rs 3675 cr education grant to states
- Rs 1200 Crs assistance for drought in Bundelkhand
- Rs 48000 Crs for Bharat Nirman
- Rs 10,000 Crs allocated for Indira Awaas Yojna
- Rural development allocation to Rs 61,000 cr
- NREGA scheme allocation raised to Rs 41000 Crs
- To build 20 km of highway every day
- Health allocation to 22,300 crore
- Social sector spending up to Rs 1.37 lakh cr
- Rs 500 crore for Clean Ganga mission
- To provide 2% loan subisdy to farmers
- chool education allocation hiked to 31,036 cr
- Tamil Nadu gets Rs 200 cr for textile development
- Rs 200 crore to Goa for restoring beaches
- Renewable energy allotment up by 61%
- Rs 1.73 lakh Crs, which is 46% of total plan outlay, reserved for infrastructure development
- 5 mega food parks to be set up
- Road development allocation: Rs 19484 cr
- 2 per cent loan subsidy for farmers
- Rs 3000 Crs for agricultural impetus
- FDI policy to be made more user-friendly
- Rs 16,500 cr capital support for PSU banks
- Banking licence for pvt, NBFC players being considered
- Fertiliser subsidy to be reduced
- Direct tax code in effect by April 1
- Disinvestment target:Rs 25,000 cr this year
- Calibrated exit strategy for fiscal stimulus
- Need to review stimulus, go back to fiscal prudence
- Significant private investment inflow expected to boost GDP
- Economy can achieve GDP growth of 10%
- GST to be in place next year
- Income tax reforms nearly complete
- Thrust on rural infrastructure
- Govt to consult with CMs to bring down inflation
- Challenge is to return to high GDP
- Economy stabilised in Q1 of 2009
- Development needs to be more inclusive
- India faces a challenge of reverting to double digit growth
- FY 2009-10 was a challenging year
- Need to improve food security and healthcare systems
- Indian economy in far better position than last year: FM
- Pranab Mukherjee starts Budget speech
- Pranab Mukherjee arrives in Parliament
- Parliament to convene at 11 am
- Pranab Mukherjee arrives at Finance Ministry
- All eyes on stimulus rollback
- Pranab Mukherjee reaches North Block
Download Union Budget 2010-2011 (ZIP Format)
- Part I - (Budget at a Glance, Budget Highlights, Budget Speech, FRBM, Key to Budget
Documents, Memorandum) - Part II - (Demands for Grants)
- Part III - (Finance Bill)
- Part IV - (Expenditure Budget Volume I)
- Part V - (Expenditure Budget Volume II )
Budget Highlights
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