Import of aircraft parts exempt from customs duty
Reduced customs duty on cigarettes
Thermal power projects exempt from customs for 2 yrs
LNG exempt from customs duty
Income tax on income above Rs 10 lakh at 30%
Income tax on income between Rs 5 lakh and Rs 10 lakh at 20%
Upper limit raised from Rs 8 lakh to Rs 10 lakh for 20% bracket
Automated shuttle looms exempted from customs duty
Income tax on income between Rs 2 lakh and Rs 5 lakh at 10%
Some infra construction services exempted from service tax
Full exemption on customs duty on coal
Large cars excise duty raised from 22% to 24%
Service tax raised from 10%-12%
No change in peak customs duty
Common tax code for service tax and excise
Compulsory reporting of assets held abroad
FY13 net market borrowing at Rs 4.8 lakh cr
Weighted tax exemptions for in house R&D for extended by another 5 years
BROKERAGE STOCKS: IndiaInfoline and Religare Enterprises flat at Rs 73.65 and Rs 385, respectively
All services to be taxed except 17
Tables a white paper on black money issue
No change in corporate tax rates
STT reduced 20% on delivery transactions
Non-plan expenditure at Rs 9.7 lakh cr
Remove cascading effect of dividend distribution tax
Witholding tax reduced to 5% from 20%
Personal income tax exemption limit for general category raised to Rs 2 lakh from Rs 1.8 lakh
Standard Chartered IDR hits 20% circuit on IDR fungibility announcement
FY13 fiscal deficit at 5.1%
Fiscal deficit at 5.9% in FY12
Gross tax estimates at 10.6% of GDP
Non-tax revenue receipts pegged at Rs 1.64 lakh cr
TOP GAINERS ON SENSEX: BHEL, ICICI Bank, Coal India, Wipro and ITC
Directorate of Criminal Investigation has been constituted
Rural development fund of 20,000 cr
Govt aims to trim subsidy burden
Rs 20,000 cr to be spent on rural infrastructure development, including Rs 5,000 cr for creating warehousing facilities
Dedicated exchange of information cell is needed
Rs 25,555 cr for Right to Education allocated in FY13; interest rates on loans to women self help groups slashed
Market Update: Sensex 17,698 (up 22 points); Nifty 5394 (up 14 points)
1 lakh 93,000 cr has been allocated for the defence sector
CNX Pharma Index jumps 0.7% at 4,930. Proposes Rs 15,888 cr for capitlisation of PSUs
Funds to be provided to women self help group.
NRHM allocation hiked to Rs 20,820 cr
IPO equity offer above Rs 10 crore will have to be made electronically in capital market reforms
FY13 Mid-day meals scheme outlay at Rs 11,937 cr
Rs 15,888 cr to be provided for capitalisation of public sector and regional rural banks and NABARD
Tax free bonds of Rs 10,000 cr for IRFC
UID allocation at 14,232 cr in FY13
Infrastructure investment in 12th Plan to go up to Rs 50 lakh crore; half of it to come from pvt sector: FM
PHARMA SHARES: Parabolic Drugs jumps 6%, Medi Caps gains 5.7%, Piramal Life Sciences up 2.3%
Agri credit target raised to 5.75 lakh cr
Securities Transaction Tax (STT) may be abolished
FDI of 49% in aviation under active consideration
DTC Implementation deferred Sensex touches a high of 17,871. Index now up 133 pts at 17,806
Allow ECB for low cost housing projects
IMG to review coal allocation blocks
7,300 km of road projects awarded in FY12
Coal India advised t sign FSA with Power plants
Irrigation eligible for viability gap funding
Pilot project for direct transfer of subsidiary for kerosene has been initiated in Alwar, Rajasthan
81 out of 82 RRBs move to core banking solutions
To move national housing amendment bill
Propose central KYC depository
Direct Tax Code (DTC) Bill to be enacted at the earliest, says FM
To increase investments in infra through PPP
Infrastructure go upto 50 lakh cr
10% of IPO above Rs 10 cr
To introduce new laws for micro finance companies
Qualified foreign investors allowed to invest in corporate bond market
Rs 50,000 tax exemption for retail investors
RETAIL SHARES: Brandhouse Retail gain 6.6%, V2 Retail up 3.6%, Shoppers Stop, Pantaloons and Trent up 1-3% each.
Two way fungibility of Indian depositary receipts
Qualified foreign investors allowed to invest in corporate bond market
To reach more retail investors in small towns
New Rajiv Gandhi Equity scheme to allow for 50% deduction to small investors
OMC shares gain. HPCL up 1.6% at Rs 298, BPCL up 1% at Rs 673, IOC up 1.8% at Rs 277
To encourage role of saving- new scheme-Rajiv Ganghi scheme has been introduced
PSU banks gain. Bank of India up 2.5%, followed by Indian Bank, State Bank of Mysore and Allahabad Bank Effort on for FDI in multi-brand retail
Min 51% govt ownership in PSUs to remain
Rs 30,000 cr for divestment in FY13
Fast track policy decisions
Central subsidies to be under 2% of GDP
To examine parliamentary panel report on DTC
Structure of GST networks approved by state FMs
Markets surge to day's high. Sensex up 151 points at 17,826. Nifty up 51 points at 5,431
Realty and bankex surge nearly 2% each to 1,856 and 12,425, respectively
Working for direct subsidy transfer in case of LPG and kerosene
Direct transfer of subsidy to retailer and farmer
Subsidy for food security to be fully provided
Need to raise tax-GDP ratio
Will make some amendment in FRBM ACT
FRBM implementation back on track
Fiscal balance deteriorated due to subsidy
Avg price of crude to exceed $115 dollar/barrel in 2012
Current account deficit at 6.3% of GDP in FY12
Avg price of crude to exceed $115 dollar/barrel in 2012
7.6% GDP growth in FY13
Current account deficit at 6.3% of GDP in FY12
Have identified 5 objectives that need to be addressed: FM
India has successfully achieved diversified exports and imports markets
India's manufacturing sector is recovering
Expects headline inflation to moderate going forward, and then stabilise
To address supply bottleneck in agriculture
India's GDP to grow 6.9%
Need to address problem of black money
Necessary to take hard decisions now
India's manufacturing sector is recovering
Agriculture, services continue to do well, suggesting that industry is the laggard
We had to battle double digit inflation
This year's performance has been diappointing
GDP seen growing at 6.9% in FY12 after doing 8.4% preceding two years
Opposition obstructs the Budget speech
It was a year of recovery interrupted for the Indian economy: FM
Pranab Mukherjee starts 2012 Union Budget Speech
Fertiliser shares gain on Budget allocation hopes
very nice stuff
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