India Budget highlights

•Online news agencies to attract tax
•Sensex surges 350 points on new tax slabs
•Rationalising tax criteria on gaming software

•No hike in service tax
•Corporate surcharge down from 10 per cent to 7.5 per cent
•Liquor prices set to go up
•Prices of gold, silver, precious stones set to rise

•Makers of mobile accessories to get tax breaks
•No taxes on transportation of pulses

•Prices to go up for cars, cement, fuel, cigarettes, air conditioners, TVs, steel

•To restore 7.5 per cent duty on petrol and diesel
•Raised excise duty on all non smoking tobacco

•To restore 5 per cent duty on crude petroleum
•Fuel prices likely to go up
•Central exicse duty on petrol and diesel raised to Rs 1 per litre
•Rollback in excise duty to 18 per cent

•Govt announces partial rollback in excise duty
•Excise on large cars, SUVs and MUVs raised to 22 per cent
• Presumptive tax limit raised to Rs 60 lakh
•Investment linked deduction benefit for two star hotels

•Deduction of Rs 20,000 towards infrastructure bonds
•Reduce current surcharge on companies by 7.5 per cent

•Income above 8 lakh - 30 per cent tax
•Income from 5 lakh to 8 lakh - 20 per cent tax
• Income between 1.6 lakh to 5 lakh - 10 per cent tax
•No tax on income up to Rs 1.6 lakh

•IT department to notify Saral 2 forms
•Net market borrowing pegged at Rs 3.45 lakh crore
•IT return forms to be more user friendly

• Govt to bring subsidy related liability into fiscal accounting
• Borrowing plan to be decided in consultation with RBI
•FY 10 budget deficit seen at 6.9 per cent of GDP
•FY 13 fiscal deficit target at 4.1 per cent

•Fy 12 fiscal deficit target at 4.8 per cent
•Govt to set up National Mission of Delivery of Justice

•Gross tax receipts seen at Rs 7.46 lakh crore in FY'11

•Fiscal deficit target of 5.5 per cent in FY11
•15 per cent increase in plan expenditure
•Defence Capex rasied to Rs 60000 crore for FY'11

•Allocation for defence raised to 1.47 lakh crore
•UIDA to roll out first set of IDs by end of 2010
•Allocation of Rs 1900 crore to Unique Identity Project

•Allocation to minority welfare ministry Rs 2600 crore

•Govt to contribute Rs 1000 per month for pension security
•Home loans up to Rs 20 lakh to get 1 per cent subvention up to March 2011
•Allocated RS 66,100 crore for rural development

•Social Security Fund to have a corpus of Rs 1000 crore
•National Social Security Fund for unorganised sector
•Extend interest subvention for housing loans up to Rs Rs 10 lakh

•To allocate Rs 10,000 crore to Indira Aawas Yojana

•Rs 1200 crore assistance for drought in Bundelkhand
•To allocate 48000 crore for Bharat Nirman

•Allocation to NREGA raised to Rs 41,000 crore

•To allocate 22,300 crore allocation for health ministry
•Social sector spending at 1.38 lakh crore for FY11
•25 pc of plan allocation for development of rural infrastructure

•To increase plan allocation for education to 31600 crore
•Rs 300 crore of Krishi Vikas Yojna

•Body for macro supervision of big companies
•Annual health survey to be conducted in rural areas in 2011

•Govt ready with draft food securty bill
•To provide one time grant to Tirupur exports

•Competitive bidding for coal block for power sector
•Allocation for power sector Rs 5130 crore in FY11

•Allocation for road infrastructure raised to 19,894 crore
•Rs 1.73 lakh crore or 46 per cent of the plan allocation for infrastructure

•Oil ministry to consider Parikh report in due time
•Crop loan interest subvention for timely repayment raised to 2 per cent

•Period of repayment of farm loan waiver extended to June 30
•Government has decided to set up apex-level Financial Stability and Development Council.

•FDI inflows steady during the year. Government has taken series of steps to simplify FDI regime, says FM.
•Market capitalisation of five PSUs listed since October increased by 3.5 times.

•Nutrient based fertiliser subsidy scheme to come into force from April 1, 2010.
• Food inflation should come down in 2010-11

• Export figures for January have been encouraging
• Hope to breach 10% growth mark in the near future

• Manufacturing has been a growth driver
• Growth registered a strong rebound in the second quarter

• Govt must deliever to lesser privileged secto
• Economy stabilised in first quarter of 2009-10

• We have to sustain food security in rural areas
• Modernisation of PDS a priority for the govt
• Our task is to quickly revert to high GDP growth path

• Challenge to make development more inclusive
• Indian economy is in far better position now