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î To quickly revert to the high GDP growth path of 9
% and then find the means to cross the µdouble digit
growth barrier¶.
î To harness economic growth to consolidate the
recent gains in making development more inclusive.
î To address the weaknesses in government systems,
structures and institutions at different levels of
governance.
? 
 c?c

c ??c accountability is misplaced. Corruption as a problem to
î pndia is among the first few countries in the world to
implement a broad-based counter-cyclic policy package
to respond to the negative fallout of the global
slowdown.
î The Advance Estimates for Gross Domestic Product

c ??c
(GDP) growth for 2009-10 pegged at ·


c
î Structural concerns on inflation management to be
addressed by improving supply response of agriculture to
the expanding domestic demand and through stronger
fiscal consolidation.
î pmplementation gaps, leakages from public
programmes and the quality of outcomes pose a serious
challenge.
î pmpression of drift in governance and gap in public
be fought collectively.
î Budget 2011-12 to serve as a transition towards a
more transparent and result oriented economic
management system in pndia.
? 
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ccc

c
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cc
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c
î The growth rate in manufacturing sector in Gross Domestic Product (GDP) estimated to have grown
December 2009 was  c ± the highest in the past two c cin 2010-11 in real terms. Economy has shown
decades. remarkable resilience.
î A major concern during the second half of 2009-10 î Continued high food prices have been principal
has been the emergence of double digit food inflation. concern this year.
î Monetary policy measures taken expected to further
??


c?

c moderate inflation in coming months.

c 
 c î Exports have grown by 29.4%, while imports have
î Dith recovery taking root, there is a need to review recorded a growth of 17.6 %.
public spending, mobilize resources and gear them
towards building the productivity of the economy. 


c?

c
î Fiscal policy shaped with reference to the 
c
 c
recommendations of the Thirteenth Finance
Commission, which has recommended a calibrated exit
strategy from the expansionary fiscal stance of last two
years.
î Fiscal consolidation targets at Centre and States have
shown positive effect on macroeconomic management of
the economy.
î Amendment to Centre¶s FRBM Act, 2003 laying
down the fiscal road map for the next five years to be

 c?c introduced in the course of the year.

Government will be in a position to implement the DTC î Proposal to introduce the Public Debt Management
from April 1, 2011. Agency of pndia Bill in the next financial year.
Endeavour to introduce GST by April, 2011.

 c?c
Direct Taxes Code (DTC) to be finalized for enactment
during 2011-12. DTC proposed to be effective from
April 1, 2012.
Significant progress in establishing GST Network which
will serve as pT infrastructure for introduction of GST.

c
ë 
c
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c
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Rs 25, 000 crore to be raised through disinvestments in -
40, 000 crore to be raised through disinvestment in
2010-11. 2011-12.
c c
Nutrient Based Subsidy policy for the fertiliser sector Nutrient Based Subsidy (NBS) has improved the
has been approved by the availability of fertilizer.
Government and will become effective from April 1, î Government to move towards direct transfer of cash
2010. subsidy to people living below poverty line.

 

c
?
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›

cc

c ›

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c
î Number of steps taken to simplify the FDp regime. î Discussions underway to further liberalize the FDp
î Methodology for calculation of indirect foreign policy.
investment in pndian companies has been clearly defined. ›

c
 
c
c
î Complete liberalization of pricing and payment of î SEBp registered mutual funds permitted to accept
technology transfer fee and trademark, brand name and subscription from foreign investors who meet KYC
royalty payments. requirements for equity schemes.
V


c
c î To enhance flow of funds to infrastructure sector, the
î RBp is considering giving some additional banking Fpp limit for investment in corporate bonds issued in
licenses to private sector players. Non Banking Financial infrastructure sector being raised.
Companies could also be considered, if they meet the ë
ccV
c
c
RBp¶s eligibility criteria. î -
6, 000 crore to be provided during 2011-12 to
ë
ccV
c
c enable public sector banks to maintain a minimum of
î Rs.16, 500 crore provided to ensure that the Public Tier p CRAR of 8 %.
Sector Banks are able to attain a minimum 8 % Tier-p -
cc-

c- cV
c
capital by March 31, 2011. î Rs. 500 crore to be provided to enable Regional
-
cc-

c- cV
c--Vc Rural Banks to maintain a CRAR of at least 9 % as on
î Government to provide further capital to strengthen March 31, 2012.
the RRBs so that they have adequate capital base to [cc
c[ c
c
support increased lending to the rural economy. î -
5, 000 crore to be provided to SpDBp for
c

c refinancing incremental lending by banks to these
î Government has introduced the Companies Bill, enterprises.
2009 in the Parliament to replace the existing Companies î -
3, 000 crore to be provided to NABARD to
Act, 1956, which will address issues related to regulation provide support to handloom weaver co-operative
in corporate sector in the context of the changing societies.
business environment.
c 

c


c î Allocation under Rashtriya Krishi Vikas Yojana
î Rs. 400 crore provided to extend the green revolution (RKVY) increased from Rs. 6,755 crore to Rs.7,860
to the eastern region of the country. crore.
î Rs. 300 crore provided to organize 60, 000 ³pulses Y
c[
ccë
c 
c
and oil seed villages´ in rain-fed areas during 2010-11. î Allocation of Rs. 300 crore to promote animal based
î Rs. 200 crore provided for sustaining the gains protein production through livestock development, dairy
already made in the green revolution areas through farming, piggery, goat rearing and fisheries.
conservation farming. àc›c
cë
c
c ccc î Allocation of Rs. 300 crore for Accelerated Fodder
î Banks have been consistently meeting the targets set Development Programme to benefit farmers in 25, 000
for agriculture credit flow in the past few years. For the villages.
year 2010-11, the target has been set at Rs. 3,75, 000 Y
c[
cc 

cà
  c
crore. î Government to promote organic farming methods,
combining modern technology with traditional farming
practices.
 à
  cc




c
î Rs 1,73,552 crore provided for infrastructure
development which accounts for over 46 % of the total
plan allocation.
î Allocation for road transport increased by over 13 %
from Rs. 17,520 crore to Rs 19,894 crore.
î Credit flow for farmers raised from Rs. 3,75, 000
crore to -
4,75, 000 crore in 2011-12.
î pn view of enhanced target for flow of agriculture
credit, capital base of NABARD to be strengthened by
Rs. 3, 000 crore in phased manner.
à
  cë c[

càc
î Rs 16,752 crore provided for Railways, which is î pn view of recent episode of inflation, need for State
about Rs.950 crore more than last year. Governments to review and enforce a reformed

c
  c›

c
cc ›c Agriculture Produce Marketing Act.
î ppFCL¶s disbursements are expected to touch Rs 9,
000 crore by end March 2010 and reach around Rs 20,
000 crore by March 2011.
î ppFCL has refinanced bank lending to infrastructure
projects of Rs. 3, 000 crore during the current year and is
expected to more than double that amount in 2010-11.
î The take-out financing scheme announced in the last
Budget is expected to initially provide finance for about
Rs. 25, 000 crore in the next three years.




cc
î Allocation of -
2,14, 000 crore for infrastructure in
2011-12. This is an increase of 23.3 % over 2010-11.
This also amounts to 48.5 % of total plan allocation.
î ppFCL to achieve cumulative disbursement target of
-
20, 000 crore by March 31, 2011 and Rs. 25, 000
crore by March 31, 2012.
î To boost infrastructure development, tax free bonds
of -
30, 000 crore proposed to be issued by

c Government undertakings during 2011-12.
î Extension of existing interest subvention of 2 % for
one more year for exports covering handicrafts, carpets,
handlooms and small and medium enterprises.

 
c ?ë
c Commerce, 21 suggestions already implemented. Action
î The spending on social sector has been gradually
increased to Rs.1,37,674 crore in 2010-11, which is 37%
of the total plan outlay in 2010-11.
î Another 25 % of the plan allocations are devoted to
the development of rural infrastructure.

c
î ?f 23 suggestions made by Task Force on
Transaction Cost, constituted by the Department of
to be taken on the remaining two suggestions.
î Self assessment to be introduced in Customs to
modernize the Customs administration.
î Proposal to introduce scheme for refund of taxes paid
on services used for export of goods.
 c î Mega Cluster Scheme to be extended for leather
î Plan allocation for school education increased by 16 products. Seven mega leather clusters to be set up during
% from Rs.26,800 crore 2011-12.
in 2009-10 to Rs.31,036 crore in 2010-11.
î pn addition, States will have access to Rs.3,675 crore 



c
 
?c
for elementary education î National Food Security Bill (NFSB) to be introduced
under the Thirteenth Finance Commission grants for in the Parliament duringthe course of this year.
2010-11. î Allocation for social sector in 2011-12 (-
1,60,887



c crore) increased by 17 % over current year. pt amounts to
î An Annual Health Survey to prepare the District 36.4 % of total plan allocation.
Health Profile of all Districts Education
shall be conducted in 2010-11. î Allocation for education increased by 24 % over
î Plan allocation to Ministry of Health & Family current year.
Delfare increased from Rs 19,534 crore in 2009-10 to ccà
 
c
Rs 22,300 crore for 2010-11. î -
21, 000 crore allocated, which is 40 % higher
î Plan allocation to Ministry of Health & Family than Budget for 2010-11.
Delfare increased from Rs 19,534 crore in 2009-10 to î Pre-matric scholarship scheme to be introduced for
Rs 22,300 crore for 2010-11. needy SC/ST students studying
in classes p and .
ill development Êealth
î National Skill Development Corporation has î Plan allocations for health stepped-up by 20 %.
approved three projects worth about Rs 45 crore to create î Scope of Rashtriya Swasthya Bima Yojana to be
10 Lkh. skilled manpower at the rate of one Lkh. per expanded to widen the coverage.
annum. pnnovations
î National pnnovation Council set up to prepare road


c 
 c map for innovations in pndia.
î Rs. 66,100 crore provided for Rural Development.
î Allocation for Mahatma Gandhi National Rural
Employment Guarantee Scheme stepped up to Rs.40,
100 crore in 2010-11.
î An amount of Rs.48, 000 crore allocated for rural
infrastructure programmes under Bharat Nirman.
î Unit cost under pndira Awas Yojana increased to
Rs.45, 000 in the plain areas and to Rs.48,500 in the hilly
areas. Allocation for this scheme increased to Rs.10, 000
crore.
î Allocation to Backward Region Grant Fund
enhanced by 26 % from Rs.5,800 crore in 2009-10 to Rs
7,300 crore in 2010-11.
ill evelopment
î Additional -
500 crore proposed to be provided for
National Skill Development Fund during the next year.
›inancial pnclusion
î Target of providing banking facilities to all 73, 000
habitations having a population of over 2, 000 to be
completed during 2011-2012.
[
E 
î pn pursuance of last year¶s budget announcement to
provide a real wage of -
100 per day, the Government
has decided to index the wage rates notified under the
MGNREGA to the Consumer Price pndex for
 
c

c Agricultural Labour. The enhanced wage rates have been
î Appropriate Banking facilities to be provided to notified by the Ministry of Rural Development on
habitations having population in excess of 2000 by January 14, 2011.
March, 2012. cheduled astes and ibal ub-plan
î pnsurance and other services to be provided using the î Specific allocation earmarked towards Schedule
Business Correspondent model. Castes Sub-plan and Tribal Sub-plan in the Budget.

 c c
  c
 c î Allocation for primitive Tribal groups increased from
î National Clean Energy Fund for funding research
and innovative projects in clean energy technologies to
be established.
î ?ne-time grant of Rs.200 crore to the Government of
Tamil Nadu towards the cost of installation of a zero
liquid discharge system at Tirupur to sustain knitwear
industry.
î Rs.200 crore provided as a Special Golden Jubilee
package for Goa to preserve the natural resources of the
State, including sea beaches and forest cover.
î Allocation for National Ganga River Basin Authority
(NGRBA) doubled in 2010-11 to Rs.500 crore.
-
185 crore in 2010-11 to -
244 crore in 2011-12.
|no anized ecto
î Exit norms under co-contributory pension scheme
³Swavalamban´ to be relaxed. Benefit of Government
contribution to be extended from three to five years for
all subscribers who enroll during 2010-11 and 2011-12.
î Eligibility for pension under pndira Gandhi National
?ld Age Pension Scheme for BPL beneficiaries reduced
from 65 years of age to 60 years. Those above 80 years
of age will get pension of -
500 per month instead of
-
200 at present.
Envionment and limate han e

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cc î -
200 crore proposed to be allocated for Green
c pndia Mission from National
î - c cVc
cbenefits extended Clean Energy Fund.
to all such Mahatma Gandhi NREGA beneficiaries who 


c[


c
have worked for more than 15 days during the preceding
financial year.
A new initiative, ]

cwill be available for
persons who join New Pension Scheme (NPS), with a
cc-c
cc
minimum contribution of Rs.1, 000 and a maximum
contribution of Rs.12, 000 per annum during the
financial year 2010-11.
î -
200 crore proposed to be allocated for launching
Environmental Remediation Programmes from National
Clean Energy Fund.



î Special allocation of -
200 crore proposed to be
provided for clean-up of some more important lakes and
rivers other than Ganga.




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î Financial Sector Legislative Reforms Commission to
be set up to rewrite and clean up the financial sector laws
to bring them in line with the requirements of the sector.
î Rs 1,900 crore allocated to the Unique pdentification
Authority of pndia (UpDAp) for 2010-11.
î A Technology Advisory Group for Unique Projects
(TAGUP) to be set up to look various technological and
systemic issues for effective tax administration and
financial governance.
î pndependent Evaluation ?ffice (pE?) chaired by the
Deputy Chairman, Planning Commission to be set up to
evaluate the impact of flagship programmes.
ecuity and
ustice î Enforcement Directorate strengthened three fold to
î Allocation for Defence increased to Rs. 1, 47,344
crore including Rs 60, 000 crore for capital expenditure.
î About 2, 000 youth to be recruited as constables in
five Central Para Military Forces from Jammu and
Kashmir in the year 2010.
î Planning Commission to prepare an integrated action
plan for the thirty-three left wing extremism affected
districts. Adequate funds will be made available to
support the action plan.
î Government has approved the setting up of the
National Mission for Delivery of Justice and Legal
Reforms to help reduce legal backlog in courts from an
average of 15 years at present to 3 years by 2012.
î Five fold strategy to be put into operation to deal
with the problem of generation and circulation of black
money.
î Membership of various international fora engaged in
anti money laundering, Financial integrity and Economic
development, Exchange of information for tax purposes
and transparency, secured.
î Various Tax pnformation Exchange Agreements
(TpEA) and Double Taxation Avoidance Agreements
(DTAA) concluded. Foreign Tax Division of CBDT has
been strengthened to effectively handle increase in tax
information exchange and transfer pricing issues.
handle increased number of cases registered under
amended Money Laundering Legislation.
î Finance Ministry has commissioned study on
unaccounted income and wealth held within and outside
the country.
î Comprehensive national policy to be announced in
near future to strengthen controls over prevention of
trafficking on narcotic drugs.

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c?  c
|p [ission
î From 1st ?ctober, 2011 ten Lkh. àcnumbers
will be generated per day.
c
c
î Various pT initiatives taken for efficient tax
administration. These include e-filing and e-payment of
taxes, adoption of µSevottam¶ concept by CBEC and
CBDT, web based facility for tax payers to track the
resolution of refunds and credit for pre-paid taxes and
augmentation of processing capacity.
î Bill to amend the pndian Stamp Act proposed to be
introduced shortly.
î Steps initiated to reduce litigation and focus attention
on high revenue cases.

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î The Gross Tax Receipts are estimated at Rs. 7,46,651
crore
î The Non Tax Revenue Receipts are estimated at Rs.
1,48,118 crore.
î The total expenditure proposed in the Budget
Estimates is Rs. 11,08,749 crore, which is an increase of
8.6 % over last year.
î The Plan and Non Plan expenditures in BE 2010-11
are estimated at Rs. 3,73,092 crore and Rs. 7,35,657
crore respectively. Dhile there is 15 % increase in
Plan expenditure, the increase in Non Plan expenditure is
only 6 % over the BE of previous year.
î Fiscal deficit for BE 2010-11 at 5.5 % of GDP,
which works out to Rs.3,81,408 crore.
î The rolling targets for fiscal deficit are pegged at 4.8
% and 4.1 % for 2011-12 and 2012-13, respectively.
î Against a fiscal deficit of 7.8 % in 2008-09, inclusive
of oil and fertilizer bonds, the comparable fiscal deficit is
6.9 % as per the Revised Estimates for 2009-10.
î Gross Tax receipts are estimated at -
9,32,440
crore.
î Non-tax revenue receipts estimated at -
1,25,435
crore.
î Total expenditure proposed at -
12,57,729 crore.
î pncrease of 18.3 % in total Plan allocation.
î pncrease of 10.9 % in the Non-plan expenditure.
î pncrease of 23 % in Plan and Non-plan transfer to
States and UTs.
î Fiscal Deficit brought down from 5.5 % in BE 2010-
11 to 5.1 % of GDP in RE 2010-11.
î Fiscal Deficit kept at 4.6 % of GDP for 2011-12.
î Fiscal Deficit to be progressively reduced to 3.5 %
by 2013-14.
î ³Effective Revenue Deficit´ estimated at 2.3 % of
GDP in the Revised Estimates for 2010-11 and 1.8 % for
2011-12.
î All subsidy related liabilities brought into fiscal
accounting.
î Net market borrowing of the Government through

c
 c dated securities in 2011-12 would be -
3.43 lakh crore.
î pncome tax slabs for individual taxpayers to be as î Central Government debt estimated at 44.2 % of
follows: GDP for 2011-12 as against 52.5 % recommended by the
c
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î Deduction of an additional amount of Rs. 20,000
allowed, over and above the existing limit of Rs.1 lakh
on tax savings, for investment in long-term infrastructure
bonds as notified by the Central Government
î Besides contributions to health insurance schemes
which is currently allowed as a deduction under the
pncome-tax Act, contributions to the Central Government
Health Scheme also allowed as a deduction under the
same provision.
î Current surcharge of 10 % on domestic companies
reduced to 7.5 %.
î Rate of Minimum Alternate Tax (MAT) increased
from the current rate of 15 % to 18 % of book profits.
î To further encourage R&D across all sectors of the
economy, weighted deduction on expenditure incurred
on in-house R&D enhanced from 150 % to 200 %.
î Limits for turnover over which accounts need to be
audited enhanced to Rs. 60 lakh for businesses and to Rs.
15 lakh for professions.

c
î Exemption limit for the general category of
individual taxpayers enhanced from -
1,60,000 to -

1,80,000 giving uniform tax relief of -
2,000.
î Exemption limit enhanced and qualifying age
reduced for senior citizens.
î Higher exemption limit for Very Senior Citizens,
who are 80 years or above.
î Current surcharge of 7.5 % on domestic companies
proposed to be reduced to 5 %.
î Rate of Minimum Alternative Tax proposed to be
increased from 18 % to 18.5 % of book profits.
î Tax incentives extended to attract foreign funds for
financing of infrastructure.
î Additional deduction of -
20,000 for investment in
long-term infrastructure bonds proposed to be extended
for one more year.
î Lower rate of 15 % tax on dividends received by an
pndian company from its foreign subsidiary.
î Benefit of investment linked deduction extended to
businesses engaged in the production of fertilizers.
î Limit of turnover for the purpose of presumptive
taxation of small businesses enhanced to Rs. 60 lakh.
î pf tax has been deducted on payment by way of any
expense and is paid before the due date of filing the
return, such expenditure to be allowed for deduction.
pnterest charged on tax deducted but not deposited by the
specified date to be increased from 12 % to 18 % per
annum.
î To facilitate the conversion of small companies into
Limited Liability Partnerships, transfer of assets as a
result of such conversion not to be subject to capital
gains tax.
î Proposals on direct taxes estimated to result in a
revenue loss of Rs. 26,000 crore for the year.
î pnvestment linked deduction to businesses
developing affordable housing.
î Deighted deduction on payments made to National
Laboratories, Universities and pnstitutes of Technology
to be enhanced to 200 %.
î System of collection of information from foreign tax
jurisdictions to be strengthened.
î A net revenue loss of -
11,500 crore estimated as a
result of proposals.


c
 c
î Rate reduction in Central Excise duties to be partially
 c
rolled back and the standard rate on all non-petroleum
products enhanced from 8 % to 10 % c"
î The specific rates of duty applicable to Portland
cement and cement clinker also adjusted upwards
proportionately. Similarly, the cccomponent of
excise duty on large cars, multi-utility vehicles and
sports-utility vehicles increased by 2 percentage points to
22 %.
î Restore the basic duty of 5 % on crude petroleum;
7.5 % on diesel and petrol and 10 % on other refined
products. Central Excise duty on petrol and diesel
enhanced by Re.1 per litre each.
à


c
î To stay on course for transition to GST.
î Central Excise Duty to be maintained at standard rate
of 10 %.
î Reduction in number of exemptions in Central
Excise rate structure.
î Nominal Central Excise Duty of 1 % imposed on 130
items entering in the tax net.
î Lower rate of Central Excise Duty enhanced from 4
% to 5 %.
î ?ptional levy on branded garments or made up
proposed to be converted into a mandatory levy at
unified rate of 10 %.
î Peak rate of Custom Duty held at its current level.
  c+c-cc
î Provide project import status with a concessional
import duty of 5 % for the setting up of mechanised à
  c
c-cc
handling systems and pallet racking systems in µmandis¶
or warehouses for food grains and sugar as well as full
exemption from service tax for the installation and
commissioning of such equipment.
î Provide project import status at a concessional
customs duty of 5 % with full exemption from service
tax to the initial setting up and expansion of
w Cold storage, cold room including farm pre-coolers for
preservation or storage
of agriculture and related sectors produce ; and
w Processing units for such produce.
î Scope of exemptions from Excise Duty enlarged to
include equipments needed for storage and warehouse
facilities on agricultural produce.
î Basic Custom Duty reduced for specified agricultural
machinery from 5 % to 2.5 %.
î Basic Custom Duty reduced on micro-irrigation
equipment from 7.5 % to 5 %.
î De-oiled rice bran cake to be fully exempted from
basic Custom Duty. Export Duty of 10 % to be levied on
its export.




c
î To build the corpus of the National Clean Energy c
Fund, clean energy cess on coal produced in pndia at a [
 

cc
nominal rate of Rs.50 per tonne to be levied. This cess
will also apply on imported coal.
î Central Excise duty on LED lights reduced from 8 %
î Basic Custom Duty reduced for various items to
encourage domestic value addition vis-à-vis imports, to
remove duty inversion and anomalies and to provide a
level playing field to the domestic industry.
to 4 % at par with Compact Fluorescent Lamps.
î pmport of compostable polymer exempted from basic î Rate of Export Duty for all types of iron ore
customs duty. enhanced and unified at 20 % ad valorem. Full
exemption from Export Duty to iron ore pellets.

  c
î Project import status to µMonorail projects for urban
transport¶ at a concessional basic duty of 5 % granted.
î To allow resale of specified machinery for road
construction projects on payment of import duty at
depreciated value.
î To encourage the domestic manufacture of mobile
phones accessories, exemptions from basic, CVD and
special additional duties are now being extended to parts
of battery chargers and hands-free headphones.

 c
c



c
î Full exemption from basic Customs Duty and a
concessional rate of Central
Excise Duty extended to batteries imported by
manufacturers of electrical vehicles.
î Concessional Excise Duty of 10 % to vehicles based
on Fuel cell technology.
î Exemption granted from basic custom duty and
special CVD to critical parts/assemblies needed for
Hybrid vehicles.
î Rate of tax on services retained at 10 % to pave the
way forward for GST.
î Certain services, hitherto untaxed, to be brought
within the purview of the service tax levy. These to be
notified separately.
î Process of refund of accumulated credit to exporters
of services, especially in the area of pnformation
Technology and Business Process ?utsourcing, made
easy by making necessary changes in the definition of
c
export of services and procedures.
î Accredited news agencies which provide news feed
online that meet certain criteria, exempted from service
tax.
î Proposals relating to service tax are estimated to
result in a net revenue gain of Rs 3,000 crore for the
year.
î Proposals on direct taxes estimated to result in a
revenue loss of Rs. 26,000 crore for the year. Proposals
relating to pndirect Taxes estimated to result in a net
revenue gain of Rs.46,500 crore for the year. Taking into
account the concessions being given in the tax proposals
and measures taken to mobilise additional resources, the
net revenue gain is estimated to be Rs. 20,500 crore for
the year.
c audit.


  c
î Parallel Excise Duty exemption for domestic
suppliers producing capital goods needed for expansion
of existing mega or ultra mega power projects.
î Full exemption from basic Customs Duty to bio-
asphalt and specified machinery for application in the
construction of national highways.

 c
î Standard rate of Service Tax retained at 10 %, while
seeking a closer fit between present regime and its GST
successor.
î Hotel accommodation in excess of -
1,000 per day
and service provided by air conditioned restaurants that
have license to serve liquor added as new services for
levying Service Tax.
î Tax on all services provided by hospitals with 25 or
more beds with facility of central air conditioning.
î Service Tax on air travel both domestic and
international raised.
î Services provided by life insurance companies in the
area of investment and some more legal services
proposed to be brought into tax net.
î All individual and sole proprietor tax payers with a
turn over upto -
60 lakh freed from the formalities of
î Proposals relating to Service Tax estimated to result
in net revenue gain of -
4,000 crore.
î Proposals relating to Direct Taxes estimated to result
in a revenue loss of -
11,500 crore and those related to
pndirect Taxes estimated to result in net revenue
gain of -
11,300 crore.


 
       

     

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