Yoyahoo

* GDP growth to be targeted 9%
* Goal of 25,000 rupees car divestment of this year
* Will direct the tax law and tax goods and services will be implemented with effect from April 1, 2011
* Support for the fertilizer to fall
* Gross domestic product of up to 10% in the near future
* Consideration of the Parekh report on fuel prices
* FDI regime to be simplified
* That the rate of inflation fell in 2 months
* 2% for the benefit of export subsidies extended for one year
* Committed to the Special Economic Growth

Banking services:

* More private banks to be encouraged
* Additional to conduct private banking players
* FY10 capital for banks Prince Sultan stand at Rs 16,500 crore
* Rs 1,200 billion rupees to be allocated to the banks of Prince Sultan University
* Rural Banks to be supported
* Banks to get Rs 6,000 billion rupees to improve infrastructure
* Banks to all villages with a population of 2,000

Agriculture:

* Four-pronged agricultural strategy to be adopted
* Further assistance to the food processing sector
* Rs 400 crore to be allocated to a green revolution in eastern India
* Rs 300 billion rupees for the Rashtriya Krishi Vikash Yojna
* Expand the repayment of loans to farmers hit drohught
* Farmers, who repay the loan on time, you will get a waiver from 2%
* Farmers to obtain loans by 5%
* Extend the payment of agricultural loans by 6 months
* Agriculture loans to farmers to increase Rs 3,75,000 crore
* New Food Policy from April 1, 2010
* Rs 300 crore to be allocated to the production of pulse

Infrastructure:

* Rs. Lakah 1.37 billion rupees for the development of infrastructure
* Railways, which will be allocated Rs 16,772 crore
* Develop ways to increase the allocation of Rs 19.894 billion
* 20 km on national highways to be built every day
* Proposal to increase the allocation for renewable energy projects by 61%
* To create a fund for clean energy
* More than twice for the allocation of the energy sector to 5,130 billion rupees
* Coal regulatory authority that will arise
* Grant a one-time Rs 200 billion rupees for the role of the Tamil Nadu textile industry
* NREGA allocation of Rs 40,100 crore in
* 1200 crore rupees package for drought-hit Bundelkhand
* Ganages – 500 crore rupees
* Bharat Nirman Yojna – 48,000 crore rupees
* Solar energy – Rs 1,000 crore
* Tirupur spinning and weaving industry – 500 crore rupees
* Goa – Rs 200 crore special package
* For the preparation of 20,000 MW of generating solar power by 2022
* Delhi and Mumbai industrial corridor will be established

Education:

* Customize the school has risen from Rs 26,800 crore to Rs 31,036 crore
* The provision of health in the 22,300 crore
* Sarva Sikha Abhiyaan – 36,000 crore rupees

Urban Development and Housing:

* Rs 5,400 billion rupees for urban development – an increase of 75%
* Rs 61,000 crore for rural development
* Indira Awas Yojna for the Rs 10,000 crore
* Home loans up to Rs 10 Lakah – 1% subsidy extended for one year
* Focus on the development of slums

The social sector:

* National Fund of Social Security for unskilled workers to be set up with Rs 1,000 crore
* National Pension Scheme – new accounts for 1,000 rupees annually by the government
* National Health Insurance Scheme for the trade unions NREGA, who worked for a period of 15 days in the month of
* Farmers Fund for Women – 100 crore rupees
* Dalits and the poor to get more focus

Technology:

* A unique identifier to be given in a timely manner
* Allocation of 19000 crore rupees for the project a unique identifier
* Rupee to be the new code. There is a fresh look at the rupee to hit soon.
* Technical Advisory Group to create a framework Nandan Nilekani

Plan and expenditure:

* Gross receipts taxes – Rs 7.46 crore Lakah
* 15% increase in the spending plan,
* The fiscal deficit for fiscal year 2010 rate to 6.9% of GDP
* The fiscal deficit – 5.5% in fiscal 2011
* The fiscal deficit – 4.8% for the fiscal year 2012
* Defense allocation – Rs 147,344 crore

Taxes:

* Income tax form Saral – 2 to be re-introduced from next year
* No increase in the exemption limit for taxpayers
* Taxes and sheets changed
* Income up to Rs. 1.6 Lakah – zero
* Income from Rs. 1.6 Lakah – Rs Lakah 5 – 10% of taxes
* Income from Rs Lakah 5 – 8 lah – 20% of taxes
* Income over Rs Lakah 8 – 30% of taxes
* 60% of the taxpayers to be benefited
* Rs. 20,000 tax exemption for investment in bonds in the infrastructure.
* Exemption from tax under 80C will be Rs 1.2 Lakah instead of Rs 1 Lakah
* Reduced fees to the companies from 10% to 7.5%
* MAT (minimum alternative tax) for up to 18% from 15%
* Excise duty rose from 8% to 10%
* Is still in the Tax Department, 12% of goods
* There are no taxes on the Department of news agencies
* Research and development deduction increased
* CET (Central Excise Customs) on petroleum products by Rs 1
* Petrol and diesel prices to go up
* Partial restoration of excise duty on cement, and large vehicles
* Cement and large cars to be more expensive
* Cheaper products – compressed natural gas, mobile, and provision of medicines and medical equipment, agricultural equipment, mobile phones, Mobile trucks, watches, garments, microwave ovens, toys and foreign agricultural equipment, set top boxes, water purification, LED Lights
* Cost of products – gasoline, diesel and coal, cigarettes, cement, cars, big cars, flowers, gold, silver, that the masala

The nation is awaiting the presentation of the Union Budget by the finance minister, Pranab Mukherjee on Friday. One thing is certain. The proposed new form of taxation – Goods and Services Tax – will not find its way in the Budget.

The 13th Finance Commission for 2010-15 headed by Vijay L Kelkar has recommended a model GST structure that includes features such as single rate, zero rating of exports, inclusion of various indirect taxes at the central and state level in GST ambit, major rationalization of the exemption structure. It has recommended a grant of Rs 50000 crore for implementation of GST as per the recommended model. This grant is to be distributed initially in the form of compensation for loss due to implementation of GST and residual amount to be distributed amongst states in the terminal year of the award period as per the devolution formula. It has also recommended administrative structure for implementation and monitoring of this grant.

The Union government has accepted the recommendation of the 13th Finance Commission in principle but would not be able to implement it in the forthcoming Budget as further discussions with state governments would take place on the modalities.

The commission has also recommended that the Empowered Committee of State Finance Ministers should be transformed into a statutory council. The compensation should be disbursed in quarterly instalments on the basis of the recommendations by a three-member compensation committee comprising of the secretary, department of revenue in the Union government, secretary to the Empowered Committee and chaired by an eminent person with experience in public finance.

The states should take steps to reduce the transit time of cargo vehicles crossing their borders by combining check posts with adjoining states and adopting user-friendly options like electronically issued passes for transit traffic.

Keeping in view the urgent need for action for combating climate change, the commission has recommended three grants to states of Rs 5000 crore each. The first grant is for forest conservation, the second is for promotion of renewable sources of energy and the third is for the water sector.

The commission has reviewed the existing arrangement of financing relief expenditure in the light of the Disaster Management Act, 2005 and has recommended merger of the National Calamity Contingency Fund (NCCF) into National Disaster Response Fund (NDRF) and merger of Calamity Relief Fund (CRF) into State Disaster Response Fund (SDRF) with effect from April 1, 2010 and transfer of balances in the existing funds into the new funds.

The commission has assessed the relief expenditure needs of all states and recommended that 75% of the SDRF requirement for general category states and 90% for special category states be met by the central government through a grant to the states. It has also recommended a grant of Rs 525 crore for capacity building. Overall tomeet the central share of sDRF and for capacity building, the commission has recommended a grant of Rs 26373 crore. It has mandated all states to follow the required accounting practices to properly account for relief expenditure.

The commission has assessed the need of providing elementary education for each state based on Sarva Shiksha Abhiyan norms and recommended to provide a grant of Rs 24068 crore equivalent to 15% of the assessed needs

The Commission has recommended six grants to states aggregating to Rs 14446 crore for improving outcomes. An incentive grant for reduction in infant mortality of Rs 5000 crore is to e released to states starting from 2012-13 depending on the reduction in infant mortality rate achieved by the states with reference to the baseline level of 2009-10 figures. A grant of Rs 5000 crore for improved delivery of justice has been recommended for Lok Adalats and Legal Aid, Alternate Dispute Resolution Centres, Heritage Court Buildings, State Judicial Academy and training of judicial officers and public prosecutors. The grant for Unique Identification (UID) programme amounting to Rs 2989.10 crore is to be released based on the number of people covered under the uID database. Two grants of Rs 616 crore each have been recommended for District Innovation Funds and improving statistical systems at district and state levels. A grant of Rs 225 crore has been recommended for setting up database of employees and prisoners.

The commission has also recommended performance grant for local bodies, debt relief to states, grants for maintenance of roads and bridges, non-plan revenue deficit grant, formula for sharing of central government taxes and formulated a fiscal roadmap.