Budget

2. Slabs and rate for
personal income tax
unchanged.
Tax credit of Rs 2,000 to
every person with total
income up to Rs 5 lakh.

3.  Propose surcharge of 10% on rich
taxpayers with annual income of more
than 10million (1 crore) rupees a year.
 To increase surcharge to 5% - 10% on
domestic companies with annual income
of more than 100 mln (10 crore) rupees.
 For foreign companies, who pay the
higher rate of corporate tax, the
surcharge will increase from 2% to 5 %

4. To continue 15% tax
concession on dividend
received by Indian companies
from foreign units for one more
year.

5. Duty-free limit on gold raised to
Rs 50,000 in case of males and
Rs 100,000 in case of females.
 Specific excise duty on
cigarettes and SUVs increased.
 Proposal for service tax on all
air conditioned restaurants.

6. With rising inflation hitting
pockets hard, raising the tax
exemption limit to:
 300,000 rupees from 200,000
rupees would leave more
disposable income in the hands of
taxpayers, particularly those in the
lower income bracket.

7. Expect 133 bln rupees
through direct tax proposals
in 2013/14.
 Expect 47 bln rupees
through indirect tax
proposals in 2013/14.

8.  Target 558.14 bln rupees from
stake sales in state-run firms in
2013/14 vs estimate of 240 bln
rupees in 2012/13.
 Expect revenue of 408.5 bln
rupees from airwave surcharges,
auction of telecom spectrum,
license fees in 2013/14

9. Total budget expenditure
seen at 16.65 trln rupees
in 2013/14.
 Non-plan expenditure
estimated at about 11.1
trln rupees in 2013/14.

10.  India's 2013/14 plan expenditure
seen at 5.55 trln. rupees.
 Plan expenditure in 2013-14 will be
29.4 per cent more than the
Revised Estimate of 2012-13.
 Revised estimate for total
expenditure is 14.3 trln rupees in
2012/13, which is 96% of budget
estimate.

11.  Gross market borrowing seen at 6.29
trln rupees in 2013/14.
 Net market borrowing seen at 4.84
trln rupees in 2013/14
 Net short-term borrowing seen at
198.44 bln rupees in 2013/14
 To buy back 500 bln rupees worth of
bonds in 2013/14

12.  2013/14 major subsidies bill
estimated at 2.48 trln rupees from
1.82 trln rupees.
 Petroleum subsidy seen at 650 bln
rupees in 2013/14
 Petroleum subsidy assumes crude
oil price at $110/barrel
 Revised petroleum subsidy for
2012/13 at 968.8 bln rupees

13. Estimated 900 bln rupees
spending on food subsidies in
2013/14.
Revised food subsidies at 850
bln rupees in 2012/13.
Revised 2012/13 fertiliser
subsidy at 659.7 bln rupees

14.  Fiscal deficit seen at 5.2 % of GDP in 2012/13.
 Fiscal deficit seen at 4.8% of GDP in 2013/14.

 Revenue deficit for the current year at
3.9 per cent and for 2013-14 at 3.3 per
cent.
 Fiscal deficit to be brought down to 3 per
cent.
 Revenue deficit to 1.5 per cent and
effective revenue deficit to zero per cent

15. 15 per cent investment
deduction for all companies
investing Rs 100 crore or more
in new projects , plant and
machinery in April1, 2013 to
March 31, 2015.

16.  Insurance, provident funds can trade
directly in debt segments of stock
exchanges
 Investor with less than 10 pct stake in
a company will be regarded as FII,
more than 10 pct stake as FDI (foreign
direct investor)

17. To mobilise funds for investment in
infrastructure, the following measures
will be taken:
 Encourage Infrastructure Debt Fund
(IDF)
 Allow some institutions to raise tax-free
bonds up to 50,000 crore (100 per cent
more than the current year) to set up
major ports

18.  India Infrastructure Finance
Corporation (IIFC), in partnership
with ADB, to help infrastructure
companies to access the bond
market to tap long-term funds a
regulatory authority for the roads
sector.

19.  States which have completed Pradhan
Mantri Gramin Sadak Yojana will be
eligible for PMGSY-II, others will continue
with PMGSY-I.
 Rs 14,873 crore allocated to Jawaharlal
Nehru Urban Renewal Mission (JNNURM)
in budget estimate 2013-14 as against
revised estimate of Rs 7,383 crore.
 Constitute a regulatory authority for the
 roads sector

20.  To incentivize greater savings,
Rajiv Gandhi Equity Savings
Scheme to be liberalized.
 Proposal to launch inflation
indexed bonds or inflation indexed
national security certificates to
protect savings from inflation.

21.  Rs 14,000 crore will be provided to public
sector banks for capital infusion in 2013-14.
 Foreign institutional investors will be allowed
to participate in exchange-traded currency
derivatives.
 FIIs, will be permitted to use their investments
in corporate bonds and government securities
as collateral to meet
 their margin requirements.

22.  Zero customs duty for electrical
plants and machinery.
 Move to revenue-sharing from profit-
sharing policy in oil and gas sector.
 To equalise duties on steam and
bituminous coal to 2 pct customs duty
and 2 pct cvd (countervailing duty

23.  To cut duty on exports of precious and semi-
precious stones to 2 pct from 10%
Defence Sector
 To allocate 2.03 trln rupees to defence
in 2013/14

Agriculture
 801.94 bln rupees to rural development in
2013/14
 270.49 bln rupees for agriculture in
2013/14

24.  Rs. 2,400 crore to modernize the
power-loom segment under the
Technology Up-gradation Fund
Scheme (TUFS).
 Outlay for setting up Textiles Park was
enhanced to Rs. 300 crore including
Rs. 50 crore for five new apparel park.
 Zero excise duty on cotton and
manmade yarn, garment and fabric.

25. Increase in Excise duty on:
 Mobile Phone of more than Rs. 2000/-
 Tobacco Products
 Sports Utility Vehicle
 Marble
 Raw Silk
 Set-top Box
 Luxury Bikes
 Eating out at Reataurant

 To push up revenue receipts from Rs.
25,000/- crore to 1.98 Lakh crore.

26. Zero Excise Duty on:
 Branded Apparel
 Carpet and other textile floor
coverings of coir or jute
 Aerated Drinks
 Peanut Butter
 Heena Powder