- Net revenue gain from tax proposals at Rs 20,500 crore
- Certain accredited news agencies exempted from service tax
- Service tax to remain 10 per cent
- Increase in duty on gold and silver import
- Clean energy cess of Rs 50 per tonne to be levied on coal produced in India
- 10 per cent central excise duty on all non-petroleum products
- Structural changes in excise duties on cigarettes, cigars and cigarillos.
- Revenue loss of Rs 26,000 crore on direct tax proposals.
- 7.5 per cent duty on petrol, diesel, crude restored.
- Exempt duty raised for all non-smoking tobacco producs
- Investment linked tax deductions to be allowed to two
- star hotels anywhere in the country.
- Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011—12 and 2012—13 respectively.
- 20 per cent tax for income above Rs 5 lakh and up to Rs 8 lakh
- 30 per cent tax for income above Rs 8 lakh.
- Income Tax department ready with two—page Saral—2 return forms for individual salaried assesses
- Surcharge on companies reduced to 7.5 per cent
- Additional exemption of Rs 20,000 for long term investment in infra bonds
- Ten per cent tax slab for income above 1.6 lakhs up to Rs. 5 lakhs.
- No income Tax upto Rs. 1.6. lakhs
- National Social Security Fund created for workers in unorganised sector with allocation of Rs.1,000 crore
- Government to give Rs.1,000 for each National Pension Scheme account opened by workers in the unorganised sector
- Exclusive skill development programme for the textile sector
- Fifty percent hike in allocation for schemes for women and child development
- Rs.4,500 crore allocated for ministry of social justice and empowerment, a hike of 80 percent
- Rs.2,600 crore allocated for ministry of minorities affairs
- Rs.1,900 crore for Unique Identification Authority of India
- Rs.147,344 crore allocated for defence
- 2,000 youth to be recruited in central paramilitary forces
- Draft Food Security Bill prepared and will be put in the public domain
- Allocation on primary education raised from Rs.26,800 crore to Rs.31,300 crore
- Banking facilities to be provided to all habitations with a population of 2,000 and more
- Rs.66,100 crore allocated for rural development in 2010—11; Rs.40,100 crore for National Rural Employment Scheme; RS.48,000 crore for Bharat Nirman
- Rs.1,270 crore allocated for Rajiv Awas Yojna for slum dwellers, up from Rs.150 crore, an increase of 700 percent with the aim of creating a slum free India.
- Forty—six percent of plan allocations in 2010—11 will be for infrastructure development
- Coal Regulatory Authority to be set up to benchmark standards of performance
- Allocation for new and renewable energy sector increased 61 percent from Rs.620 crore to Rs.1,000 crore in 2010—11
- National Clean Energy Fund to be established
- Rs.200 crore allocated as special package for Goa to prevent erosion and increase green cover.
- Government committed to growth of SEZs.
- Four—pronged strategy for growth of agricultural sector.
- Rs.200 crore to be provided in 2010—11 for climate—resilient agricultural initiative.
- Involvement of private sector in grain storage to continue for another two years.
- In view of drought and floods, debt repayment period extended to June 2010.
- Five more mega food processing projects in addition to 10 existing ones.
- FDI flows in April—December 2009 $20.9 billion.
- FDI policy to be made more user—friendly with one comprehensive document.
- Apex level financial stability council to be set up for banking sector.
- Indian Banking Association to give additional licences to private players.
- Provision for further capital for regional rural banks.
- Roadmap for reducing public debt in six months.
- Implementation of direct tax code from April 2011.
- Government actively engaged in finalising structure of general sales tax regime; hopes to implement it from April 2011.
- Rs.35,000 crore raised from divestment in 2009—10; will be higher in 2010—11.
- New fertiliser policy from April 2010; will lead to improved productively and more income for farmers.
- Economy stabilised in first quarter of 2009—10; strong rebound in second quarter; overall growth at 7.2 and could be higher when Q3 and Q4 are taken into account.
- Export figures for January encouraging.
- Hope to breach 10 percent growth mark in not too distant future.
- Government set in motion steps to bring down food inflation.
- Need to review stimulus package; need to make growth more broad—based.
- India has weathered global economic crisis well; Indian economy in far better position than it was a year ago. In 2009 Indian economy faced grave uncertainty; delay in
- southwest monsoon had undermined agricultural production.
- First challenge now is to quickly revert to 9 percent growth and then aim for double digit growth; need to make recovery more broadbased.
- Second challenge is to make growth more inclusive; have to strengthen food security.
- Third challenge is to overcome weakness in government’s public delivery mechanism; a long way to go in this.