AT CURRENT PRICES THE ADVANCE GDP ESTIMATE OF 2012 - 13 IS Rs. 93,88,876 LAKHS CR AND AT 2004-05 PRICES ITS AT Rs. 54,82,111 LAKHS CR.
|IN FLOW (Rs. in Cr)|
|TAX OF UNION TERRITORY||2,758|
|TAX RECEIPTS FOR CENTRAL||8,84,078|
|STATE's SHARE IN TAX RECEIPTS||3,50,842|
|TOTAL TAX RECEIPTS||12,34,920|
|NON TAX RECEIPTS||AMOUNT|
|DIVIDENDS & PROFITS||73,866|
|OTHER NON TAX RECEIPTS||78,000|
|RECEIPTS OF UNION TERRITORY||1,166|
|NON DEBT CAPITAL RECEIPTS||66,468|
|RECOVERY OF LOANS & ADVANCES||10,654|
|MISC. CAPITAL RECEIPTS||55,814|
|FISCAL DEFICIT (In Rs.)||AMOUNT|
|OUT FLOW (Rs. in Cr)|
|NON PLAN EXPENDITURE||11,09,975|
|CENTRAL PLAN OUT LAY||99,030|
|GRANTS TO STATES & UTs||76,981|
|LOANS TO PSUs||417|
|OTHER GENERAL SERVICES||22,903|
|EXPENSES of UTs with out Legislature||4,395|
|NON PLAN CAPITAL OUTLAY||30,131|
|GRANTS TO FOREIGN GOVT.||4,114|
|CENTRAL PLAN AID TO STATES||1,23,222|
- No change in Income tax rates and slabs.
- Imposed Surcharge of 10% on person whose taxable income exceeds Rs.1 Cr/yr. This will apply to Individuals, HUF's, Firms & entities with similar tax status.
- The additional surcharge will be force for only one year i.e. FY 2013-14.
- Increased surcharge from 5% to 10% on domestic companies whose taxable income exceeds Rs.10 Cr/yr, in case of foreign companies who pay the higher rate of Corp tax the surcharge will increase from 2% to 5%.
- Effective Tax rate @33.99% for domestic co. having income more than Rs.10 Cr.
- Effective MAT rate for Domestic co @21%.
- DDT surcharge increased from 5% to 10%.
- Tax credit of Rs. 2000 for income upto Rs.5 lakhs.
- To impose TDS @1% on the value of the transfer of Immovable property wherein consideration exceeds Rs. 50 lakhs, Agriculture land will be exempted.
- STT on Equity futures reduced from 0.017 to 0.01 %.
- STT on MF/ETF redemptions at fund counter reduced from 0.25 to 0.001%.
- STT on MF/ETF purchase/sale on exchange reduced from 0.1 to 0.001% only on seller.
- To levy CTT on non-agriculture commodities futures contracts at 0.01% of the price of the trade. CTT will be allowed as deduction if the income from such transaction forms part of business income.
- Import duty on Set Top Boxes raised from 5% to 10%.
- Import duty on Luxury Cars & vehicles & Yachts raised from 75% to 100%.
- Duty free Gold limit increased to Rs.50,000 in case of Male passenger & Rs.1,00,000 in case of female passenger subject to conditions.
- Excise duty on SUV's increased from 27% to 30%, not applicable to SUV registered as Taxis.
- Effective custom duty on SUV's increased from 138% to 178%.
- Vehicle Parking now comes under Service Tax.
- PSU Banks to get Rs. 14,000 Cr for Recap & Capital infusion of Rs. 12517 Cr by FY13.
- Home Loans upto Rs. 25 lakhs to be allowed additional deduction of interest of Rs.1 lakh.
- To set up India's first Women's Bank as a PSB with Rs. 1000 Cr as initial capital. It will obtain the necessary approval & banking licence by October 2013.
- FY14 disinvestment target Rs. 40,000 Crs.
- Farm GDP was 3.6 % in 11th Plan in GDP growth of 5.6 %.
- GOV. will need $75 billion to finance Current Account Deficit over next 2 years.
- Investor holding stake of 10% or less in a company will be treated as FII.
- Investor holding stake of more than 10% in a company will be treated as FDI.
- FII will be permitted to use their investment in corporate bonds & Gov. securities as collateral to meet their margin requirements.
- Small & medium enterprise incl. Start Ups will be permitted to list on SME Exchange without being required to make an Initial Public Offer,but the issue will be restricted to informed investor.
- FII will be permitted to trade in Exchange Traded Currency Derivative to the extent of their Indian Rupee Exposure in India.
- Stock Exchanges to be allowed to introduce Dedicated Debt Exchange.
- JNNURM will be given Rs. 14873 Cr,this will help in purchase of 10,000 buses by hilly stations.
- More institutions be allowed to raise Tax Free Bonds upto a total sum of Rs.50,000 Cr.
- Rajiv Gandhi Equity Saving Scheme to be liberalised -1st time investors can invest into Mutual Funds &Listed shares for 3 successive years. The income limit will be raised from Rs. 10,00,000 to Rs. 12,00,000.
- Investment allowance @15% to manufacturing company that invests more than Rs. 100 Cr in plant & machinery during 1.4.2013 to 31.3.2015.
- To introduce Inflation Indexed Bonds or Inflation Index National Security Certificates.
- To provide Low Cost finance to viable renewable energy projects and Generation based incentives for Wind Energy projects.
- Govt. proposes to expand FM Radio services to 294 more cities &about 839 new FM radio channels will be auctioned in 2013-14, All cities having a population of more than 1 lkh will be covered by private FM radio services.
- Defence sector allocated Rs. 2.03 lakh Cr.
- Corporate surcharge reduced from 7.5 % to 5 %.
- Dividend from foreign subsidiary to Indian companies down from 30 % to 15 %