0 Bewertungen0% fanden dieses Dokument nützlich (0 Abstimmungen)
19 Ansichten17 Seiten
The document provides details about the Indian Union Budget for 2011/12. It discusses key highlights such as:
- The economy is expected to grow 9% in 2012 with lower inflation.
- Plan expenditure is budgeted at 4.41 trillion rupees, an 18.3% increase.
- Gross tax receipts are estimated at 9.32 trillion rupees and non-tax revenue at 1.25 trillion rupees.
- Key sectors like defense, education, health, and agriculture are allocated significant funding.
- Policy reforms around infrastructure development, food security, and capital markets are announced.
The document provides details about the Indian Union Budget for 2011/12. It discusses key highlights such as:
- The economy is expected to grow 9% in 2012 with lower inflation.
- Plan expenditure is budgeted at 4.41 trillion rupees, an 18.3% increase.
- Gross tax receipts are estimated at 9.32 trillion rupees and non-tax revenue at 1.25 trillion rupees.
- Key sectors like defense, education, health, and agriculture are allocated significant funding.
- Policy reforms around infrastructure development, food security, and capital markets are announced.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PPTX, PDF, TXT herunterladen oder online auf Scribd lesen
The document provides details about the Indian Union Budget for 2011/12. It discusses key highlights such as:
- The economy is expected to grow 9% in 2012 with lower inflation.
- Plan expenditure is budgeted at 4.41 trillion rupees, an 18.3% increase.
- Gross tax receipts are estimated at 9.32 trillion rupees and non-tax revenue at 1.25 trillion rupees.
- Key sectors like defense, education, health, and agriculture are allocated significant funding.
- Policy reforms around infrastructure development, food security, and capital markets are announced.
Copyright:
Attribution Non-Commercial (BY-NC)
Verfügbare Formate
Als PPTX, PDF, TXT herunterladen oder online auf Scribd lesen
SUBMITTED BY:- QAMAR RAES & ANUJ LAMBA WHAT DOES THE BUDGET SHOW ?
THE BUDGET ESSENTIALLY HAS TWO PARTS.
THE RECEIPTS BUDGET INCLUDES REVENUE BY WAY OF TAXES AS WELL AS REIPTS BY NON-TAX MEANS SUCH AS SALE OF SPECTRUM OR IN THE FORM OF DIVIDENDS FROM PSUs. THE EXPENDITURE BUDGET PROVIDES DETAILS OF SPENDING BY VARIOUS MINISTRIES AS WELL AS DETAILS OF SUBSIDIES AND INTEREST PAYMENTS. BUDGET OVER THE YEARS
THE BUDGET SYSTEM WAS INTRODUCED IN
INDIA ON APRIL 7,1860. JAMES WILSON,THE FIRST INDIAN FINANCE MEMBER,DELIVERED THE BUDGET SPEECH. THE FIRST BUDGET WAS PRESENTED ON NOV 26,1947 BY R.K.SHANMUGHAM CHETTY. YASHWANT SINHA MOVED THE BUDGET TO 11AM IN 1999,INSTEAD OF 5 PM EARLIER. 23 PEOPLE HAVE PRESENTED BUDGETS INDEPENDENT INDIA.MORARJI DESAI HOLDS THE RECORD FOR THE MOST WITH 8 FULL BUDGETS AND 2 INTERIM BUDGETS. ALL 3 PM’S FROM THE FIRST FAMILY OF INDIAN POLITICS- JAWAHARLAL NEHRU,INDIRA GANDHI AND RAJIV GANDHI HAVE PRESENTED 1 BUDGET EACH. WHO’S WHO IN FINANCE MINISTRY
DEPARTMENT OF ECONOMIC AFFAIRS :-
USUALLY THE BUDGET DIVISION,WHICH COORDINATES BUDGET-MAKING,IS HOUSED IN THE DEPARTMENT. THE BUDGET DIVISION COORDINATES WITH THE FINANCE SECRETARY. DEPARTMENT OF EXPENDITURE :- RESPONSIBLE FOR ALL SPENDING-RELATED PROPOSALS. ECONOMIC DIVISION :- PREPARES THE ECONOMIC SURVEY DEPARTMENT OF REVENUE :- CO-ORDINATES ON TAX-RELATED ISSUES CENTRAL BOARD OF DIRECT TAXES :- TAX POLICY LEGISLATION (TPL) DIVISION HANDLES BUDGET-RELATED ISSUES. CENTRAL BOARD OF EXCISE AND CUSTOMS :-
TAX RESEARCH UNIT (TRU) DEALS WITH
BUDGET MATTERS. Highlights of the Budget 2011/12
GROWTH, INFLATION EXPECTATIONS :-
Economy expected to grow at 9 percent in 2012, plus or
minus 0.25 percent Inflation seen lower in the financial year 2011-12 SPENDING Plan expenditure seen at 4.41 trillion rupees in 2011-12, up 18.3 percent REVENUE Gross tax receipts seen at 9.32 trillion rupees in 2011-12 Non-tax revenue seen at 1.25 trillion rupees in 2011-12 POLICY REFORMS :- To create infrastructure debt funds To boost infrastructure development with tax-free bonds of 300 billion rupees Food security bill to be introduced this year To permit Securities and Exchange Board of India (SEBI) registered mutual funds to access subscriptions from foreign investments Raised foreign institutional investor limit in 5-year corporate bonds for investment in infrastructure by $20 billion Public debt bill to be introduced in parliament soon SECTOR SPENDING :- To allocate more than 1.64 trillion rupees to defense sector in 2011-12 Corpus of rural infrastructure development fund raised to 180 billion rupees in 2011-12 To provide 201.5 billion rupees capital infusion in state-run banks in 2011-12 To allocate 520.5 billion rupees for the education sector To raise health sector allocation to 267.6 billion rupees AGRICULTURE :- Removal of supply bottlenecks in the food sector will be in focus in 2011-12 To raise target of credit flow to agriculture sector to 4.75 trillion rupees Gives 3 percent interest subsidy to farmers in 2011-12 Cold storage chains to be given infrastructure status Capitalization of National Bank for Agriculture and Rural Development (NABARD) of 30 billion rupees in a phased manner To provide 3 billion rupees for 60,000 hectares under palm oil plantation Actively considering new fertilizer policy for urea FINANCE MINISTER ON THE STATE OF THE ECONOMY :- "Fiscal consolidation has been impressive. This year has also seen significant progress in those critical institutional reforms that will pave the way for double digit growth in the near future." Food inflation remains a concern Current account deficit situation poses some concern Must ensure that private investment is sustained The economy has shown remarkable resilience." India Union Budget 2010-2011 General Proposals and Announcements
Fiscal deficit for the FY 2011 is estimated at 5.5%
18.9% growth rate registered by manufacturing industry in 2009 Indian Economy is expected to register a 10% GDP growth in the coming years A 7.2% economic growth is estimated to be registered in the current fiscal The future years are expected to witness gradual segmentation of incentives Direct Tax Code and General Sales Tax to be launched in April 2011 A supreme level Fiscal Stability and Development Council to be established by the central government Issue of additional banking licenses by the Reserve Bank of India to private players and non-banking financial organizations 6 months extension of the refund term for farmer loans up to June 30th 2011 Undertaking of the introductory development activities for Delhi- Mumbai industrial corridor Rs 25000 crores increase by the government via Disinvestment route Setting up of Technology advisory group under the governance of Nandan Nilekani Allocation of Rs 1900 crore for UID authority Allocation of Rs 147,000 crore for Defense India Union Budget 2010-2011 Direct Tax Proposals
Implementation of Direct tax code from April 1, 2011
Introduction of a simplified 2 page Saral 2 form by Indian Income Tax department for FY 2010-11 Loss of Rs 26,000 cr from the initiation of Direct Tax plans and profits of Rs 45,000 from the implementation of Indirect Tax proposals Corporate Tax to continue at the same rate 3% increase in Minimum Alternate Tax from the previous 15% to 18% on book gains Reduction of 10% additional tax on domestic firms to 7.5% Demand for account assessment of professionals with more than Rs 15 lakh of earnings India Union Budget 2010-2011 Indirect Tax Proposals
Service Tax rates to remain constant at 10% in an attempt to include more
services under the tax code Increase in the tariff on smoking and non-smoking tobacco commodities 2% increase in Central Excise tariff from the previous 8% to the proposed 10% Total excise tax exemption on electric cars Central Customs tariff to remain constant at 10% Excise tariff of Rs 1 per litre on diesel and petrol Service Tax exemption on News agencies Limited reduction in the excise tariff on cement Service Tax exemption on farming seeds Hike in the customs tariff on gold and platinum exports from the previous Rs 200 to the proposed Rs 300 Hike in Import tax on silver metal to Rs 1500 on every kg India Union Budget 2010-2011 Individual Tax Proposals
Individuals earning up to Rs 1.60 lakh will not be levied
under Income Tax laws. Individuals earning from Rs 5 lakh to Rs 8 lakhs will be charged at 10% Individuals earning above Rs 8 lakh will be taxed at 30% Tax exemption limit remains constant for Women and Senior Citizens at Rs. 1, 90,000 and Rs. 2, 40,000 respectively. Additional deduction of Rs 20,000 will be accessible for making investment in Infrastructure Bonds. THANK YOU
In Re John H. Gledhill and Gloria K. Gledhill, Debtors, State Bank of Southern Utah v. John H. Gledhill and Gloria K. Gledhill, 76 F.3d 1070, 10th Cir. (1996)