Sachin Agarwal’s Blog

Archive for the ‘Economy’ Category

Customs duty on bio-diesel reduced.
  
Silver to cost more.
  
Tax to be levied on Law Firms.
  
Textile units to receive tax holiday.
  
LCD TVs to cost less. Custom duty on LCD TVs cut from 10% to 5%.
  
Set-Top Boxes to cost more. Customs duty of 5% on set-top boxes.
  
To extend tax holiday for commercial production of mineral oil and natural gas.
  
Fringe Benefit Tax abolished.
  
Commodity Transaction Tax abolished.
  
Personal income tax exemption hiked by Rs 10,000.
  
No surcharge of 10% on personal income tax.
  
Centralised processing center at Bengalooru to streamline taxation.
  
No change in corporate tax.
  
Increase in exemption slab for senior citizens by Rs 15,000.
  
Fiscal deficit at 6.8% of GDP.
  

Proposes Rs 500 cr for rehabilation of displaced persons of northern and eastern areas of Sri Lanka.

  
Aila Relief proposed at Rs 1,000 crore.
  
Increased allocation for higher education. New IITs to be set up. Rs 2,113 cr for IITs and NITs.
  
Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram.
  
Defence outlay goes up. One lakh dwelling units for paramilitary forces personnel to be constructed.
  
Allowances to para-military forces at par with defence forces. One rank, one pension for ex-servicemen.
  
One rank, one pension for ex-servicemen.
  
Allocation for Commonwealth Games to be raised to Rs 3472 crore
  
Online job exchange to be started with private partnership.
  
Unique ID plan to roll out in 12-18 months.
  
Top people from private sector to be given responsibility of vital national projects.
  
Interest subsidy for home loans up to Rs 1 lakh.
  
All BPL families to be bought under one smart card program.
  
50% of all rural women to be brought into self-help group programmes.
  
Rural mega clusters in Bengal and Rajasthan.
  
To add handloom clusters in West Bengal and Tamil Nadu.
  
75% hike in irrigation projects.
  
Rural Housing: Allocation to Indira Awaas Yojna hiked by 63% to Rs 8,883 cr. Rs 7000 crores for rural electrification scheme.
  
Rs 31,100 crore allocation for NREGA. NREGA gave employment opportunities to more than 4.479 cr households.
  
Rs 100 cr one-time grant to expand banks in non-banking areas.
  
Banks, insurance to stay with Govt. Banking network to be expanded.
  
Expert panel to look into petroleum product pricing. Domestic oil prices must be in sync with global prices.
  
‘Aam Admi’ is the focus of all our programmes and schemes: Pranab
  
Tax system should be such that it shold encourage voluntary compliance.
  
Income Tax forms to be made user-friendly. Saral-II forms to simplify taxation process.
  
Export Credit Guarantee scheme extended till March 2010.
  
Stimulus package to print media extended till December 31.
  
Farmers loan interest to come down to 6%. Interest subvention scheme for farm loans to be manitained.
  
Additional budget allocation for farmers.
  
IIFCL will refinance 60% of commercial bank loans in PPP. IIFCL to look at infrastructure needs.
  
Mumbai flood management allocation hiked to Rs 500 cr.
  
87% rise in urban renewal mission. Housing allocation hiked.
  
Fiscal stimulus at 3.5% of GDP
  
Allocation for NHAI up 23%
  
Trade in goods and services doubled in 2008
  
Job creation hit due to economic slowdown: Pranab
  
Govt took 3 stimulus packages so far. Two worst quarters of the global economic crisis is now behind us: Pranab
  
One budget can not solve all problems: Pranab
  
Foreign capital inflow is important
  
Increased focus on growth and encourage nation’s development
  
Sustain growth rate of 9% for a longer period. Farm sector growth at 4%
  
Union Finance Minsiter begins his speech. This is Pranab Mukherjee’s 4th budget.
  
Cabinet approves Union Budget.
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US President Barack Obama is expected to sign an executive order to close the Guantanamo Bay prison within a year.

A draft order circulated on Wednesday also called for halting military trials in the prison, where terror suspects had been held for years without trial.

Separate orders are expected to ban abusive interrogations and review the detention of terror suspects.

On his first full day in office on Wednesday, Mr Obama issued orders on government ethics and transparency.

The measures included curbs on lobbying and a pay freeze for senior White House staff. Federal employees will have to sign up to new ethics procedures.

Obama

Obama