What has become more expensive:
Phones (6%TAX HIKE) above Rs 2000, cigarettes, watching movies,
eating out, SUVs(Excise duty on SUVs from 25% to 30%).
Goodnews :
- 60 crore farmers in the country produced 250 millon tonnes of food grains.
- Country Earned Rs 138403 crore due to agricultre exports.
- agriculture credit hiked to Rs 7 lakh crore for farmers.
- Taxpayers in the bracket of Rs 2 to 5 lakhs will get a tax credit of Rs 2500.
- Donations made to National Children's Fund will now be 100% deductible.
- Defense allocation has been increased to Rs 236000 laks.
- Duty free limit for Gold raised to Rs. 50,000 in case of a Male & Rs. 1 lakh for female passengers.
- Import duty on raw silk hiked to 15%.
- 18% rise in excise duty on Cigarattes, cigars and cheerots.
- 289 more cities to get private radio FM stations.
- Rs 14,873 crore for JNNURM for urban transportation in 2013—14 against Rs 7,880 crore in the current fiscal.
- Rs. 5,000 crore for NABARD for agri storage facilities.
- Rs 80,194 crore allocation for Ministry of Rural Development in 2013—14. About Rs 33,000 crore for MGNREGA.
- Rs 17,700 crore to be allocated for Integrated Child Development Scheme (ICDS).
- Rs 200 crore to Women and Child Welfare Ministry.
Low interest rate funds for green projects for five years
- Royalty tax hiked from 10% to 25%.
- concessional interest rate of 6% for working capital loans to weavers.
- "Buyers making a first-home purchase up to Rs 25 lakhs in 2013/14 will be entitled to an additional deduction of interest up to Rs One lakh
Rs 41,561 crore for SC plan and Rs 24,598 crore for tribal plan. Rs 1069 crore set aside for development of Ayurveda, Siddha, Unani and homeopathy. Bad news:"Current Account deficit continues to be high due to oil, coal, gold importsand slowdown in exports."Tax Deducted at Source (TDS) to be fixed at 1% on land deals over Rs 50 lakh.Only 42800 declarants with taxable annual income over Rs 1 crore in India,10% tax for people with annual incomes above Rs 1 crore.
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