2010 Budget highlights

Union budget 2010 is currently being presented by Mr. Pranab mukherjee in the Parliament right now, and this is the 5th budget that Mr. Pranab mukherjee will be presenting, and speech has already begun and these are some of the key points that our Finance minister has made and these are the 2010 budget highlights that have come out till now.

Indian budget highlights 2010:

1. No income tax upto Rs 1.6 lakh

2. 10% income tax on Rs 1.6 - Rs 5 lakh

3. 30% income tax on Rs 8 lakh and above

4. 20% income tax on Rs 5 - Rs 8 lakh

5. Indirect taxes coming up

6. Direct tax receipts to fall by Rs 56,000 cr

7. Infotech usage in tax management to be enhanced

8. Tax paying interface to be de-cluttered'

9. R&D Corp Tax break up to 200%

10. Corp Min Alternate Tax up from 15 to 18%

11. Corporate tax surcharge down from 10 to 7.5%

12. Rs 20,000 additional tax break for infra bonds

13. Banking licence: Ownership defined in FDI policy

14. Banking licence for pvt, NBFC players being considered

15. Rs 16,500 cr capital support for PSU banks

16. Fertiliser subsidy to be reduced

17. Bank farm loan target: Rs 3.75,lakh crore

18. Rs 300 cr for agriculture impetus

19. 2 per cent loan subsidy for farmers

20. To extend farm loan payment by 6 months

21. Rs 16,500 cr capital support for PSU banks

22. To discuss Kirit Parikh report in due course

23. Fertiliser subsidy to be reduced

24. Direct tax code in effect from April 2011

25. Disinvestment target:Rs 25,000 cr this year

26. GST to be in place next year

27. Disinvestment target:Rs 25,000 cr this year

28. Govt to consult with CMs to check inflation

29. Targetting 9% GDP growth this year

30. Road development allocation up to Rs 19484 cr

31. Tamil Nadu gets Rs 200 cr for textile development

32. Rs 500 crore for Clean Ganga mission

33. Rs 200 crore to Goa for restoring beaches

34. Renewable energy allotment up by 61%

35. To establish clean energy fund

36. Rs 1.73 lakh crore for infrastructure

37.  Health allocation to 22,300 crore

38. To build 20 km of highway every day

39. Social sector spending up to Rs 1.37 lakh cr

40. School education allocation hiked to 31,036 crore

41. Indira Awaas Yojana at Rs 10,000 cr

42. Allocated Rs 2,400 cr for MSMEs

43. IIFCL to double refinancing banks for infra

44. Rs 3675 cr education grant to states

45. NREGA allocation to Rs 40,100 crore

46. Power sector allocation doubled to Rs 5130 cr

47. FDI regime to be simplified

48. Rural development allocation to Rs 61,000 cr

49. Textile ministry will train 30 lakh people

50. Banks for all villages with population of 2,000

51. Health insurance to NREGA beneficiaries

52. Smart Card extended to NREGA

53. First set of UID numbers this year

54. Tech advisor group under Nandan Nilekani

55. Natl Comm for Delivery of Justice & Legal reform proposed

56. Interest subvention for low-cost housing extended

57. Rs 100 cr woman farmer fund scheme

58. Pvt sec to meet foodgrain storage deficit

59. 2009-10 fiscal deficit revised to 6.9%

60. Fiscal deficit to be brought down to 4.8% this year

61. 5.5 % fiscal deficit target

62. Defence allocation at Rs 1.4 lakh crore

63. Gross tax receipts: Rs 7.46 lakh cr

64. 15% hike in Plan expenditure, 6% in non-Plan

65. To levy excise duty of Re 1/lt on petrol

66. Growth incentives coming up

67. Partial rollback of excise duty on cement

68. Stimulus-led excise duty rollback partially reversed

69. Large cars, SUVs excise up to 22% from 20%

70. Increased excise duty on all non-smoking tobacco

71. Excise on cigars, cigarettes to go up

72. 5% import duty on crude petroleum restored

73. Customs duty on silver at Rs 1500/kg

74. Uniform concessional duty of 5% on all medical appliances

75. Excise duty on CFL halved to 4%

76. Rs 50/ton cess on Indian coal

77. Certain accredited news agencies exempted from service tax

78. Service tax to GDP ratio 1%

79. To waive excise duty on solar panels

80. Service tax unchanged at 10%, to maintain stimulus

So what do you think about this Indian Union budget 2010?