Thursday, February 28, 2013

AS WE BELIEVED GROWTH PROJECTION IS < 5%.  HERE BUDGET EXTRACTS (REPRODUCTION FROM TECHNO CHAT ROOM)



BUDGET EXTRACT
(reported by Techno chat room)

*CHIDAMBARAM SAYS INDIA\'S GROWTH POTENTIAL IS 8% 

*INDIA\'S GETTING BACK TO 8% GROWTH RATE A CHALLENGE: CHIDAMBARAM 

*CHIDAMBARAM: INDIA NEEDS $75B TO FINANCE CAD 

*INDIA SETS FY14 PLAN EXPENDITURE 5.55 TLN RUPEES 

*INDIA SETS FY14 TOTAL EXPENDITURE AT 16.65 TLN RUPEES 

*INDIA REVISED EST FOR TOTAL EXP 16.7 TLN RUPEES 

*INDIA BUDGET EST FOR TOTAL EXP 16.7T RUPEES 29% HIGHER THAN RE 

*INDIA TO RAISE EDUCATION SPENDING TO 658.7B RUPEES 

*INDIA TO SPEND 802B RUPEES FOR RURAL DEVELOPMENT IN FY14 

*INDIA TO SPEND 330B RUPEES ON JOB GUARATEE PROJECT FY14 

*INTEREST SUBVENTION FOR SHORT-TERM CROP LOANS TO CONTINUE 

*INDIA PROPOSES TO BUY 10,000 BUSES FOR HILL STATES 

*INDIA PROPOSES 3.07B RUPEES FOR NATIONAL LIVESTOCK MISSION 

*INDIA ALLOCATES 100B RUPEES FOR FOOD SECURITY 

*INDIA PROPOSES TO ALLOW 500B RUPEES IN INFRA BONDS TAX-FREE 

*CHIDAMBARAM: FY13 TAX-FREE BOND SALES SEEN AT 250B RUPEES 

*INDIA TO GIVE 50B RUPEES TO NABARD IN FY14 

*INDIA PROPOSES INVESTMENT ALLOWANCE FOR HIGH-VALUE INVESTMENTS 

*INDIA TO GIVE INVESTMENT INCENTIVE FOR MANUFACTURING COS 

*CHIDAMBARAM PROPOSES 15% BENEFIT FOR HIGH-VALUE INVESTMENTS 

*INDIA PROPOSES ADDITIONAL INTEREST DEDUCTION FOR 1ST HOME LOAN 

*INDIA TO GIVE TAX REBATE TO FIRST TIME HOME LOAN APPLICANTS 

*CHIDAMBARAM: PLANS INFLATION INDEXED BONDS/CERTIFICATES 

*INDIA PROPOSES 2 NEW PORTS 

*INDIA PROPOSES SIXTH NATIONAL WATERWAY IN ASSAM STATE 

*CHIDAMBARAM: OIL, GAS POLICY TO MOVE TO REVENUE-SHARING 

*INDIA CONSIDERING PUBLIC-PVT PARTNER MODEL TO RAISE COAL OUTPUT 

*CHIDAMBARAM URGES STATES TO FINALIZE ELECTTICITY BOARD RECASTS 

*INDIA TO DOUBLE REFIANCING CAPACITY OF SIDBI TO 100B RUPEES 

*INDIA TO ALLOCATE 1.51T RUPEES FOR TEXTILE TECHNOLOGY UPGRADE 

*INDIA TO CONTINUE TECHNOLOGY UPGRADATION FUND FOR TEXTILES 

*INDIA TO GIVE 140B RUPEES CAPITAL TO BANKS IN FY14 

*CHIDAMBARAM: TO ADD ADDITIONAL CAPITAL TO STATE-RUN BANKS 

*CHIDAMBARAM: TO INFUSE 125.2B RUPEES IN 13 BANKS BY MARCH 2013 

*INDIA PLANS TO SET UP BANK TO CATER TO WOMEN 

*INDIA PLANS 10B RUPEES CAPITAL FOR WOMEN BANK 

*INDIA PROPOSES TO SPEND 60B RUPEES ON RURAL HOUSING FY14 

*INDIA PROPOSES TO SET UP URBAN HOUSING FUND AT 20B RUPEES FY14 

*CHIDAMBARAM SAYS INDIA TO AMEND SEBI ACT 

*INDIA SETS 10% STAKE THRESHOLD TO BE CONSIDERED AS FDI 

*CHIDAMBARAM SAYS INVESTORS OF 10% OR LESS TO BE TREATED AS FII 

*CHIDAMBARAM: FIIS CAN TRADE IN EXCHANGE TRADED FX DERIVATIVES 

*CHIDAMBARAM: BOURSES TO INTRODUCE DEDICATED DEBT SEGMENT 

*INDIA PROPOSES DEDICATED DEBT SEGMENT ON STOCK EXCHANGES 

*CHIDAMBARAM: PLANS GENERATION BASED INCENTIVE FOR WIND PLANTS 

*INDIA PROPOSES TO ALLOCATE 62.75B RUPEES FOR SCIENCE AND TECH 

*CHIDAMBARAM SAYS POST OFFICES TO OFFER FULL-TIME BANKING 

*INDIA TO SET UP 10B RUPEE FUND FOR WOMEN EMPOWERMENT 

*INDIA SETS FY14 NON-PLAN EXPENDITURE AT 12 TLN RUPEES 

*INDIA ESTIMATES FY14 BUDGET DEFICIT AT 4.8% OF GDP 

*INDIA FY13 BUDGET DEFICIT AT 5.2% OF GDP, CHIDAMBARAM SAYS 

*INDIA ESTIMATES FY14 BUDGET DEFICIT AT 4.8% OF GDP 

*INDIA\'S REVENUE DEFICIT ESTIMATED AT 3.3% IN FY14 

*INDIA\'S REVENUE DEFICIT ESTIMATED AT 3.3% IN FY14 

*INDIA SHOULD RECLAIM PEAK GDP-TAX RATIO OF 11.9%: CHIDAMBARAM 

*CHIDAMBARAM: NO CHANGE IN TAX SLABS, RATES FOR FY14 

*INDIA PROPOSES TAX CREDIT TO THOSE EARNING UP TO 500,000 RUPEES 

*INDIA PROPOSES 10% SURCHARGE ON PERSONS WITH 10M RUPEE INCOME 

*CHIDAMBARAM: 10% TAX SURCHARGE FOR SALARIES ABOVE 10M RUPEES 

*CHIDAMBARAM PROPOSES SURCHARGE FOR ONLY 1 YEAR 

*CHIDAMBARAM: TAX SURCHARGE ON THE RICH FOR FY14 

*CHIDAMBARAM: PROPOSES REDUCTION IN SECURITIES TRANSACTION TAX 

*INDIA PROPOSES TAX ON NON-FARM COMMODITY FUTURES TRADING 

*INDIA COMMODITIES TRANSACTION TAX ON NON-FARM FUTURES CONTRACT 

*INDIA PROPOSES COMMODITY FUTURES TRADING TAX SAME AS STOCKS 

*CHIDAMBARAM: MODIFIED PROVISIONS OF GAAR EFFECTIVE APR 1, 2016 

*INDIA RAISES IMPORT DUTY ON SET-TOP BOXES 

*INDIA TO RAISE DUTY ON HIGH-END MOTOR VEHICLES TO 100% 

*CHIDAMBARAM: PLANS HIGHER DUTY ON IMPORTED VEHICLES, YACHTS 

*INDIA RAISES DUTY-FREE LIMIT ON BAGGAGE RULES 

*INDIA AMENDS RULES ON OVERSEAS TRAVELERS BRINGING GOLD JEWELRY 

*INDIA TO INCREASE EXCISE DUTY ON CIGARETTES 

*INDIA INCREASES EXCISE DUTY ON SUVS TO 30% 

*INDIA TO IMPOSE 2% CUSTOMS DUTY ON STEAM AND BITUMINOUS COAL 

*INDIA PROPOSES TO DOUBLE EXCISE DUTY ON MARBLE 

*INDIA PROPOSES SERVICE TAX ON ALL AC RESTAURANTS 

*INDIA SEES REV. GAIN OF 133B RUPEES FROM DIRECT TAX PLAN 

*INDIA TO RAISE IMPORT DUTY ON EXPENSIVE MOBILE PHONES TO 6%



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