Union budget highlights 2011-2012 in India by Finance minister of India Mr. Pranab Mukherjee Live Telecast ; Watch live telecast of Union Budget 2011

Union budget highlights 2011-2012 in India by Finance minister of India Mr. Pranab Mukherjee has been published online on the official website of Indian Government at http://www.india.gov.in
You can Watch live telecast of Union Budget 2011 at http://budgetlive.nic.in/

    Service tax widened to cover hotel accommodation above Rs.1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests
    A new revised income tax return form 'Sugam' to be introduced for small tax papers
    Net revenue loss on account of taxes and duties will be Rs.200 crore
    Service tax to result in a revenue gain of Rs.4,000 crore
    No excise duty on equipment for UMPPs
    Export duty on iron ore pellets withdrawn
    20% ad valorem export duty on iron ore
    To replace excise with ad valorem duties for cement
    Ship-owners allowed duty-free spare parts import
    Government intends to spend Rs.2.14 lakh crore as budgetary support for the infrastructure sector in 2011-12
    Propose to raise service tax on air travel
    Excise and customs duty proposals to result in the net gain of Rs.7,300 crore
    Export duty rates on iron ore unified and kept at 20 per cent ad valorem
    Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent
    Basic customs duty on raw silk reduced from 30 to 5 per cent.
    Nominal one per cent central excise duty on 130 items entering the tax net; Basic food and fuel and precious stones, gold and silver jewellery will be exempted: FM
    Import duty on gypsum and coal from 5% to 2.5%
    Solar lanterns customs duty reduced
    Mobiles, homeopathic medicines, steel, LED, Diapers -- cheaper
    LED lights to get cheaper
    Hybrid, electrical vehicles to get cheaper
    No new tax exemption limit for women
    Direct tax sops to result in Rs.11,500 cr net revenue loss
    Investment-linked deductions for fertilisers and developers of affordable housing
       Financial Sector Legislative Reforms Commission, to be headed by former Supreme Court judge B Srikrishna, to complete its work in 24 months.
    Propose to levy MAT on developers of SEZs
    New category for 80 yrs and above, limit is Rs.5 lakh
    MAT increased to 18.5 %
    In FY12 gross tax receipts at Rs.9.32 lakh crore: FM
    Relaxation in exit age for National Pension scheme
    Anganwadi workers' salary up from Rs.1500 to Rs.3,000/mnth; helpers to get Rs.1500
    State innovations council to be set up
    Scholarship for needy SC/ST students in class 9 and class 10
    Rs.54 cr each to AMU Centres
    Budget allocation for Defence sector at more than 1.64 trln rupees
    Allocation of Rs.52057cr for education sector, increase of 24%
    Health sector outlay at Rs.26760cr, increase of 20%
    Expect 10 lakh numbers to be generated per day from 1st Oct 2011 under UID
    Propose 300 crore to modernise stamp and registration in states
    Rs.9 lakh compensation to be given to men of Defence and Central paramilitary forces for permanent disability and discharged from service
    Budget allocation of Rs.150 cr for Jammu for implementation of projects identified by taskforce
    Rs.8000 cr assigned for J&K for development projects
    Funds of Rs.25 cr and 30 cr for Naxal affected areas
    Some 20 lakh Adhaar numbers given
    To speed up justice, propose a fund of RS 1000 crore to build judicial infrastructure and develop project ethos
    Rs.58000 cr allocation for Bharat Nirman schemes
    Increased outlay on social sector outlay
    10 existing double taxation avoidance treaties revised
    5-fold strategy on black money
    15 mega food parks to be set up
    Jodhpur to be included for handicraft sector development
    Delhi metro phase 3 to be taken up
    Mortgage risk guarantee fund to be created for economically weaker sections
    Financial assistance to ongoing metro projects
    Rs.3000 cr to NABARD for more credit flow
    1% interest subvention for home loans up to Rs.15 lakh
    100 cr equity funds for micro finance companies
    Housing loan limit raised to 25 lakh for priority sector lending
    Bill to allow RBI to grant more banking licenses
    FII investment in corporate bonds hiked to 40 bn USD
    RBI guidelines for banking licenses by year-end
    Propose to form Women self help group development fund
    Economic growth rate expected at 8.75% to 9.25% in FY12
    Government to introduce GST bill amendments in this session
    Union Finance Minister aims for fiscal deficit of 3% by Financial Year 2014
    Will move to direct tax subsidy for fertiliser and kerosene
    Considering new fertilizer policy for urea
    Finance Minister expects current account deficit to come down next year
    Shri Pranab Mukherjee expects RBI measures to moderate inflation
    Union Finance Minister Shri Pranab Mukherjee begins Budget speech in Parliament
Follow the link given below to view full and detailed Union budget highlights 2011-2012 :
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