You can download the highlights and whole budget document.
Indian Budget for the year 2009-10
Some highlights :
• Commodities Transaction Tax to be scrapped
• Fringe Benefit Tax to be scrapped
• Service tax to be levied on law firms
• 10 pc surcharge on personal income tax scrapped
• Excise duty on petrol-driven small trucks down to 10%
• Exemption of duty on goods made at construction sites restored
• Drugs for heart diseases to become cheaper
• Customs duty on gold and silver import increased
• Mobile phone accessories to become cheaper
• Branded jewellery for women to become cheaper
• Customs duty on bio-diesel reduced
• Tax holiday extended for textile units
• Small businesses exempt from advance tax
• Custom duty on LCD panels halved
• Set-top boxes to cost more
• Anonymous funds to charitable bodies to get some tax relief
• MAT hiked to 15% of book profit
• General Sales Tax model will have a Central GST and State GST
• Share of direct taxes has increased to 56 per cent in 2008-09
• Hike in IT exemption to Rs 2,40,000 for senior citizens
• Hike in IT exemption for women to Rs 1,90,000
• Hike in IT exemption for all to Rs 1,60,000
• Corporate tax unchanged
• New tax code to be set up in 45 days
• Goods and Services Tax to be introduced from April 1, 2010
• Total budget expenditure for 2009-10 will Rs 10,28,032 cr
• Plan expenditure, for both Centre and States, to go up by Rs 61,000 cr
• Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
• Higher public investment in infrastructure
• Defence outlay has gone up
• Rs 1,000 cr for Aila rehabilitation to West Bengal
• Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
• Rs 2,113 cr for IITs and NITs
• Funds for GSI to enhance exploration of minerals
• New pension benefits for 12 lakh jawans and JCOs
• Pension of non-commissioned officers to be hiked
• Allocation for rehab of Lankan Tamils
• One lakh dwelling units for paramilitary forces to be built
• Commonwealth allocation hiked to Rs 3472 crore
• Allocation of Rs 50 cr to Chandigarh University
• Govt to hike allocation to National Ganga Project to Rs 562 cr
• One rank, one pension for ex-servicemen from July 1
• Allowances to para-military forces at par with defence forces
• Unique Identification ID project to roll out in 12-18 months
• Unique Identification ID project to tap private talent
• Allocation for NRHM to be raised by Rs 257 cr
• National action plan on climate change
• Full interest subsidy for students in approved institutions
• Modernisation of national employment exchanges
• 50% of rural women in self-help groups
• Rural mega clusters in Bengal and Rajasthan
• Interest subsidy for home loans up to Rs 1 lakh
• Interest subsidy on education loans
• Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore
• Rs 2,000 cr for rural housing fund under National Housing Bank
• National Mission for female literacy
• NREGA allocation up 144%
• Work on National Food Security scheme for subsidised food
• Rs 100 cr one-time grant to expand banks in unbanking areas
• Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
• Allocation for PM Gram Sadak Yojna up by 59 per cent
• Rs 39,100 crore allocation for NREGA
• NREGA gave employment opportunities to more than 4.47 cr households
• Aam Aadmi is the focus of all UPA's schemes
• Govt to shift to nutrient based fertiliser subsidy regime
• Banking network to be expanded
• One banking centre in every bloc
• Banks, insurance to stay with Govt
• Raise threshold for non-promoter public listed companies
• Move towards energy security via Integrated Energy Act
• Saral-II forms to simplify taxation process
• An expert panel will look into petroleum product pricing
• Domestic oil prices must be in sync with global prices
• Fertiliser subsidy to go directly to farmers
• Export Credit Guarantee scheme extended till March 2010
• Incentives in interest rates to farmers to pay back
• Print media stimulus package extended by six months
• Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
• FIIs have returned to India in last few months
• Storm-water drainage project fund hiked to Rs 500 cr
• Blueprint for national gas grid
• Additional budget allocation to farmers
• Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%
• Total fiscal stimulus during '08-09 is Rs 1,86,000 cr
• Hike in allocation for Mumbai flood management
• Housing allocation hiked under Rajiv Awaas Yojana
• Fund allocation for urban poor accommodation is 3,973,000 cr
• JNNURM allocation hiked by 87 per cent
• NHAI allocation up by 23 per cent
• Hike infrastructure investment to over 9% of GDP by 2014
• New company IIFCL to look at infrastructure needs
• IIFCL will refinance 60% of commercial bank loans in PPP
• IIFCL will look at new projects
• IIFCL will also look at incremental lending by banks
• Govt took 3 stimulus packages to fight slowdown
• Trade in goods and services doubled in 2008
(with inputs from ibnlive)
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