Peak import duty cut to 12.5% from 15%
STT hiked by 25% from existing levels
There is no change in the rates of personal income tax or corporate income tax, nor any new taxes are being imposed.
Food processing industry has been given a fillip as the condensed milk, ice cream, preparation of meat, fish and poultry, pectins, pasta and yeast have been fully exempted from excise duties.
No change in personal, corporate income tax rates
Cess on domestic crude oil hiked by Rs 700/tn
Leather and footwear industries have been recognized as thrust sectors.
Customs on PTA, DMT and & MEG cut to 10% from 15%
Excise duty on small cars cut to 16% from 24%
No FBT on free samples to doctor No FBT on payment to brand ambassadors
Tours & Travel cut down to 5% vs 20% Lodging & Boarding cut to 5% vs 20%
Duty on inorganic chemicals cut to 10%
To widen the tax net Service tax on: ATMs, Share trasfer agents, PR firms
Service tax rate hiked 12% from 10%
Excise duty on instant food cut to 8% Aerated drinks excise duty cut to 16%
Excise duty on cigarettes raised by 5%
Countervailing duty of 4% on all imports of excisable goods
To levy countervailing duty of 4% on oil imports
Import duty on ores, concentrates cut to 2% from 5%
Plastics duty down to 5% from 10% Duties on refractories down to 7.5%
Customs duty on manmade fibres down to 10% from 15%
Duty on packaging machines down to 5% from 15%
Duty on Naphtha for plastics down to 0% Duty on mineral products reduced to 5%
Tourism plan spending at Rs 830 cr To develop 15 tourist centres
FY'07 non-plan expenditure estimated at Rs 3,91,263 cr
FY'06 revenue deficit at 2.6% vs estimated 2.7%
Removes cap for MFs on reciprocal foreign holding
To set up 3 investment regions for oil sector in FY'07
Tax-GDP ratio to go up to 11.2% from 10.5%
Indian Infrastructure Investment company to be established
Record 34,000 MW to be added under 10th plan 82 projects to be completed in 1-2 years
NDS, OM to be extended to some MFS, PFs and Pension Funds
Cap on FII investment in corp debt raised to $1.5 bn
FIIs investment limit Govt bonds raised to $2 bn
To remove 10% cap on overseas investment by Mutual Funds
To create unified exchange traded market for corporate bonds
20 bn tn coal to be deblocked for captive power projects till 2012
Policy changes will attract more FDI in infrastructure
Rs 100 cr fund to help tea growers
India has potential to become a gem and jewellery hub
To set up investor protection fund
Non-tradable securities to be phased out
IIFCL has received first proposal for funds
Coal to be deblocked for captive power projects till 2012
To add about 40,000 MW capacity in 3 years
Record 34,000 MW to be added under 10th plan 82 projects to be completed in 1-2 years
To double world export share to 1.5% by FY'09
Govt to provide electricity to 40,000 villages in FY'06
Rs 597 cr provided for non-conventional energy resources
Food processing to be top priority sector for bank credit
Tourism plan spending at Rs 830 cr
EGoM to be set up for cluster development
Cluster model for manufacturing and industrial townships
Food processing to be top priority sector for bank credit
FY'07 mid-day meal allocation at Rs 4813 cr
Bulk of spending to go to 8 social sector programs
96% of the project to be completed by June 2006
FM says barring mining, all sectors are performing satisfactorily
Rural Employment To Get Rs 14,300 cr
96% of Golden Quadrilateral To Be Completed By June 2006
Record 34,000 MW To Be Added Under 10th Plan
Urban Renewal Mission gets a grant of Rs 4,595 cr
Spending on flagship plans at Rs 50,000 cr
50 handicraft villages to be identified for foreign tourists
Textile allocation increased by Rs 100 cr to Rs 535 cr
Services SMEs to be treated at part with manufacturing SMEs
Equity support to state companies at Rs 16,900 cr
To raise old age pension from Rs 75 per month to Rs 200 per month
To double farm loans in 3 years Short term credit to farmers at 7%
RIDF gets Rs 4000 cr for rural roads
Special new NABARD credit line for self help groups
To double farm loans in 3 years To cut 2 bps on agri loans of upto Rs 1 lk
Outcome Budget to be presented on March 17
National Rural Health Mission to get Rs 8207 cr
To consider taking Hyderabad Metro under the NURM plan
Record 34,000 MW to be added under 10th plan
Budgetary provision North East up 9 times to Rs 18,696 cr
1.5 lakh teachers to be employed under Sarva Siksha Abhiyan To spend Rs 10,041 cr
GBS for FY'07 up 24% at Rs 1,72,720 cr
Larger Budgetary support for Bharat Nirman project
Rs 944 cr grant given for irrigation in Bharat Nirman
Gross Budget Support for FY'07 up 20.4% at Rs 1,72,720 cr
NABARD to get Rs 1000 cr corpus for food processing
Food processing to be treated as priority sector
Outlay for National Urban Mission in FY'07 at Rs 4595 cr
Educational allocation up 31.5% to Rs 24,115 cr
Rs.14, 300 cr to be spent on rural employment
Expects 'continued buoyancy' in capital formation
GDP growth likely to be 8.1% in 2006-07
To aim for 10% economic growth
This fiscal 'best of times' & 'worst of times'
Expert Body To Examine Various Aspects Including Tax
Urban Renewal Mission Gets A Grant Of Rs 4,595 cr
National Rural Health Mission To Get Rs 8207 cr
Spending On Flagship Plans at Rs 50,000 cr
Allocation For Education Up 31.5% to Rs 24,115 cr
Output of foodgrains likely to be 209.3 MT
Govt will fund disaster rehabilitation
10,600 Villages To Be Provided With Electricity
87,000 Houses To Be Build
Rs 944 cr Grant Given For Irrigation In Bharat Nirman
Expects 'Continued Buoyancy' In Capital Formation
Govt To Fund Disaster Rehabilitation
Foodgrains Output Likely To Be 209.3 MT In 2006-07
All Sectors, Barring Mining, Performing Satisfactorily
Govt To Aim For 10% Economic Growth
GDP Growth Likely To Be 8.1% in 2006-07