1.  HARPREET SINGH

 ANURAG RAJ SHAHI

 TOPIC – UNION BUDGET 2012-2013

2.  Budgeting is the technique in which we
identifying our income and expenditure and
allocate the income for different expenditure.
 Davit Thomas

3. With modernization and acquisition projects
like126 fighter aircraft deal lined up the defense
ministry allocation was 13.1% . Rs193407 core
.The allocation made in the Budget for the
financial year 2012-13 is about 1.9% of the GDP.
Finance minister pranab Mukherjee said the
allocation was based on the present need and
any further requirement for the security of the
nation.

4.  In the Budget finance minister pranab Mk has
proposed an allocation of Rs 10 core for
building houses for economically weaker
section under Rajiv Awas Yojna . A separate
allocation of Rs 242 core has been made for
the NCR Planning board which functions
under the ministry of urban development . The
NCR board is responsible for implementing
the projects in the NCR cities.

5.  The finance minister has proposed to reduce
basic custom duty on soya protein concentrate
and isolated soya protein to 10 % from the
present 30% and basic custom duty on iodine
has been reduced from 6 to 2.5% . The basic
custom duty has been brought down to 5%
from 10% on the import of probitics .

6.  The service tax rate has been marginally raised
from 10 % to 12% presenting the Budget in lok
sabha on Friday the finance minister said to
maintain a Healthy fiscal situation the
government had raised the service tax with
consequent changes in the rate from services
that have individual tax rates .

7.  The tax exemption limit for individuals has
been hiked to 2 lakh from the current Rs 1.8
lakh while the tax slabs have been re-jigged to
provide relief to tax payer. Presenting the
union Budget for 2012-13 in lok sabah said the
upper limit it for the 20% tax slab would be
increased to 10 lakh .from 2 to 5 lakh 10% and
20% for income above 5 to 10 lakh .30% for
income above 10 lakh.

8.  Cement prices are likely to go up after the
government proposed hike in excise duty on
the building material from 10%to12% . The
duty will be on the retail sale price after of 30
%.The proposal to raise excise duty is in sharp
contrast with the expectation of the industry
which was demanding to slash it down to 6to8
%.

9.  Luxury cars will become more costly up to 3
lakh as disappointment such as Mercedes Benz
and Audi deciding to pass on increased duties
imposed in the Budget to consumer . This
companies are planning to put an additional
burden to the customer between 2 to 3 lakh .
This is due to increase in excise and custom
duty on large cars.

10.  There is a big hole in yours pocket as pranab
has hiked excise duty on daily use product like
soaps shampoos detergent diaper cosmetic
and toiletries and other FMCG goods 12%.
Company are reeling under cost pressure the
increase in excise duty could futher squeeze
margins .

11. Cigarette smoking will now be be even more
injurious to tobacco consumer. The Budget has
increased excise duty on some cigarette hand
made bidis pan masala gutka and chewing
zarda . The duty hike will make cigarette above
65mm costlier with an duty will be chargeable
on of the retail sale price declared on the pack.

12.  Pranab mukherjee exempt the industry from
service tax on copyrights related to recording
of films. Indian industry is the only on
industry in the world which pay more than
50% in taxation . This time they get some relief
from taxation .

13.  Presenting the Budget in the lok sabha FM
announced a multispectral nutrition program
to combat malnutrition . Two hundred high –
burden district have been selected for the
program . FM announced a hike of 58% in the
Budgetary allocation for this scheme compared
to last year.Rs10380 core in 2011-2012 To Rs
11931 core in 2012-2013. He also provide 750
core for Rajiv Gandhi scheme for
empowerment of adolescent girls.

14.  1. Economic growth estimated at 6.9% in
current fiscal .Growth momentum to pick up
to 7.6% in 2012-13 and 8.6% in 2013-14.
 2. RBI expected to lower the interest rate .
 3.Export grew by 40.5% in the first half of this
fiscal and Import by 30.4% .
 4.Forien trade performance to remain key
driver of growth .

15.  5. Food grain production likely to cross 250.42
million tones . Largely on back of increase in
rice production.
 6. Agriculture and service sector expected to
perform well.
 7. Industry growth pegged at 4-5% and
improve further as economic recovery resume
.