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India New Budget 2013-14 Date, Highlights and Expectations.


India Budget 2013-2014 Highlight

India Union Budget - 2013-14






India Budget 2013-2014 Highlights



Key Features of Budget 2013-2014

  • Cut abatement rate on expensive homes to 75%

  • No revision in tax slabs, Tax credit of Rs 2000 for income upto Rs 5 lakh

  • DTC proposals to raise Rs 13,300 crore, indirect tax to fetch Rs 4700 crore

  • Small and medium companies to be allowed to listed on MSME exchange without making a public offer

  • Duty cut on leather, leather good machines

  • Exempts imported ships and vessels from duty

  • Excise duty on SUVs raised from 27% to 30%. Will not apply to SUVs registered as taxis

  • Excise duty raised by18% for cigarettes

  • One time amnesty scheme for service tax defaulters

  • To allocate 9000 crores as CST compensation to states

  • Service tax to be levied on all air conditioned restaurants

  • FM promises Rs 10,000 crore for Food Security Bill

  • Increase in import duty on high end motor vehicles from 75% to 100%; and on motor cycles from 60% to 75%

  • Luxury imported items to be cost more

  • To set up Nirbhaya Fund for women safety

  • Higher customs duty on set top boxes

  • To levy 2% customs, CVD on coal imports

  • Constraints will not come in the way for providing additional funds for security of the nation

  • Rashtriya Swasthya Bima Yojana benefit will be extended to rickshaw pullers, auto and taxi drivers and sanitation workers

  • Customs duty unchanged for non agri products

  • Extend tax benefit to electrical vehicles

  • To levy CTT on non agri futures at 0.01%

  •  FY14 non plan expenditure at Rs 12 lakh crore

  • No change in peak basic customs duty

  • Agri commodity futures exempt from CTT

  • Tax GDP ratio is one of the lowest in the world; should reclaim 11. 9% Tax GDP ratio in the short term

  • Surcharge of 10% on Rs 1 crore plus income earners

  • No plans to revise direct tax rates

  • Little room to give away tax sops

  • Raised surcharge for only one financial year

  • Education cess to continue

  • Imposes 5-10% surcharge on local companies income above Rs 10 crore

  • To allocate Rs 1000 crore to extend skills of youth

  • Fiscal deficit for current fiscal estimated at 5.2%

  • Plan expenditure for FY14 at 5.55 lakh crores

  • Assure that the DBT will be rolled out during the term of the UPA Govt

  • We see the smile on the faces of the pregnant women when they receive benefits under the DBT

  • FY14 revenue deficit at 3.3%

  • Financial Sector Legislative Reforms Commission (FSLRC) to submit its report next month

  • No revision in the tax slabs

  • Extends tax cut benefit to rupee infrastructure funds

  • Immovable Property transaction: TDS of 1% to be levied on transactions above Rs 50 lakh

  • STT rates cut on equity futures to 0.01% from 0.017%

  • STT rates cut on equity futures to 0.01% from 0.017%

  • To auction 839 licenses for FM network to cover all India

  • Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17

  • Simplified norms planned for foreign portfolio investors

  • To allocate 100 crores to AMU, BHU, TISS-Guwahati and INTACH

  • FII can hedge forex exposure through ETFs

  • To allocate 100 crores to AMU, BHU, TISS-Guwahati and INTACH

  • To transfer Rs 5.87 lakh crore to states and Union Territories

  • Nirbhaya Fund with a corpus of Rs 1000 cr to be set up for girl child welfare

  • Rajiv Gandhi savings scheme will be liberalized

  • With help of Ministry of S&T, I have identified amazing innovations; will allocate Rs 200cr to scale them & make them avaiable to people

  • To allocate 532 crores for core banking at post offices

  • To increase allocation for science and atomic departments

  • Govt to set up National Institute of Sports Coaches

  • To expand private FM radio to 294 cities

  • To auction 839 licenses for FM network to cover all India

  • Many manufacturing projects stalled due to regulatory process

  • Govt to construct power transmission system from Srinagar to Leh at the cost of Rs 1,840 crore, Rs 226 crore provided in current Budget

  • Increased allocation in defence to Rs 2.03 lakh crore in FY 14

  • The insurance amendment bill and the PFRDA bills are before the house; hope that they will be passed soon

  • To streamline FII registration via designated brokers

  • Plan to issue inflation-indexed bonds

  • To provide appropriate incentives for semiconductors industry including zero customs duty on plants and machineries

  • A company investing Rs 100 crore or more in plant and machinery in April 1, 2013 to March 31, 2015 will be allowed 15 per cent investment deduction allowance apart from depreciation

  • SEBI to simplify KYC norms governing foreign investors

  •  SEBI will simplify procedures for entry of foreign portfolio investors to invest in India

  • Stock exchange to introduce dedicated debt segment

  • Pension funds will be allowed to invest in ETFs

  • Stock exchange to introduce dedicated debt segment

  • FM announces higher outlay on waste management

  • Will encourage cities to take up waste-energy projects through PPPs

  • Allocation in defence increased

  • DIPP and Japan's JICA preparing plan for Chennai- Bengaluru Industrial corridor

  • India's first women's Public sector bank to be set up

  • All PSU banks branches to have ATMs by March, 2014

  • Woman’s bank license to be in place by Oct, 2013

  • Four Infrastructure debt fund have been registered

  • Propose to provide Rs 600 cr to rural housing fund in 2013-14

  • To allocate Rs 2000 crore for Urban Housing fund

  • Bank’s correspondents allowed to sell micro finance

  • Government has decided to constitute a regulatory authority for the road sector

  • Govt to monitor cost of doing business in India

  • To allocate Rs 14,000 crore for capital infusion for public sector banks

  • We need to reduce dependence on imported coal

  • 500 inland waterways have been declared as National Waterways

  • Propose to conitune with the Technology Upgradatrion funds scheme for the textile sector

  • Crop loans from private banks will be subsidised too

  • Thousands of scholarships to be given to SC/ST students, girls'

  • Term loans at a concessional rate of 6% for handloom sector

  • To allocate 2400 crore for textile tech upgradation

  • Indian Institute of Biotechnology will be set up at Ranchi

  • Textile Upgradation Fund seen at 1.51 lakh crore in the 12th Plan

  • Rajiv Gandhi Equity Scheme limit hiked

  • FM proposes zero customs duty for electrical plants and machinery

  • Government considering PPP model with Copal India to boost output

  • To double SIDBI’s refinance capacity to Rs 10000 crores

  • State Government should recast Discom plans

  • To allocate Rs 17700 core for child and women welfare

  • Home loans under Rs 20 lakh to get additional 1 lakh deduction

  • To add 2 new ports in WB, AP; to add 1200 mn tonne capacity

  • Oil Gas policy to move from profit share to revenue share

  • Natural Gas pricing policy to be reviewed

  • Coal imports to raise to 185 mn tones in 2016-17

  • To provide more finance to industrial corridors

  • Launch two new industrial cities in Gujarat and Maharashtra

  • In consultation with RBI, the FM proposes to introduce inflation indexed bonds or certificates. The details will be announced later

  • Home loan exemption limit raised

  • Good news for home loan takers. People taking a home loan in 2013-14 for an amount up to Rs 25 lakh will be allowed an additional deduction of Rs 1 lakh

  • Rajiv Gandhi Equity scheme to be liberalized

  • Preparatory work started for Bengalooru-Mumbai Industrial Corridor

  • Gold - RGESS will be liberalised & the investor will be allowed to invest in mutual funds.

  • Need to improve communication of policies to remove distrust and fear among investors

  • Rs 50000 crore tax bonds to be issued in FY14

  • To constitute regulatory authority for the roads sector

  • Doing business with India should be easy, friendly and helpful

  • Interest subvention continues

  • Education sector rallies on increased allocation to the sector: Everonn 10.56%, EDUCOMP 6.6%, CORE Education 6.14%, MT Educare 5.34, Aptech 4.42%

  • Targets Rs 1 trillion in infrastructure in the 12th plan

  • Will allow some organisations to raise funds strictly based on need

  • Rs 500 crore to start programme of crop diversification

  • Government cut expenditure to reign in fiscal deficit

  • To allocate Rs 500 crore for crop diversification projects

  • Provided sufficient funds for flagship programmes

  • Rs 5387 crore allocated for water savings plans

  • Rs 1000 core allocated for Green revolution in East India

  • Rs 250 crore allocated for Food security mission

  • FY 14 farm credit target at Rs 7 lakh crore

  • Rs 9954 crore allocated for Rashtriya Krishi Vikas in FY 14

  • Rs 10,000 cr additional funds set aside for Food Security

  • Doing business in India must be seen as easy and friendly

  • To allocate Rs 307 crore for National Livestock Mission

  • To allocate additional Rs 10,000 crore for Food Security Bill

  • Infrastructure Debt Funds will be encouraged

  • To allocate Rs 1106 crore for alternative medicine industry

  • Propose to allocate rs 65,867 crore to HRD ministry

  • To provide more than Rs 4200 crore for medical studies

  • To increase allocation for health, family welfare

  • FY14 expenditure seen at Rs 16.65 lakh crore

  • To expand medicare facilities for women, differently abled

  • FY14 plan expenditure to be 30% higher

  • To create jobs for youth, raise incomes

  • Markets holding up quite well so far

  • To allocate more than Rs 25000 core for tribal welfare

  • Plan expenditure seen at Rs 5.53 lakh crore

  • To allocate Rs 13215 crore for mid day meal scheme

  • To allocate Rs 65867 crore to education ministry, up 17%

  • To increase allocation for Health, family welfare ministry

  • Single women and widows must be able to live with dignity; WCD has been asked to design schemes

  • Foreign investment is an imperative to cut current account deficit'

  • To allocate Rs 17700 core for child and women welfare

  • To allocate Rs 15260 crore for water, sanitation

  • Rs 1400 crore for water purification plants

  • Raises allocation to government’s main employment schemes

  • Allocation of Rs 37330 crore for healthcare

  • Raises allocation to government's main employment schemes

  • Rs 14873 crore allocated to JNURM

  • To purchase 10000 buses under JNURM

  • To allocate Rs 27,049 cr for Agri Ministry

  • Outlay under JNURM doubles

  • To allocate Rs 27,049 crore to Agri Ministry

  • A farmer who repays his loan will get credit at 4%


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