Union Budget 2013-14 Live Update
Business.Mapsofindia.com brings you live updates and Highlights on Indian Budget 2013-14.
Need for state and central govt to pass a GST law.
Our work will be seen in our actions - P Chidambaram
DTC proposals to raise Rs 13,300 crore, indirect tax to fetch Rs 4,700 crore
Allocated INR 9,000 crores as CST compensation to states
Set-top box import duty hiked
Duty-free limit for gold raised to Rs 50,000 for men and Rs 1 lakh for women
Levy service tax on all air condition restaurants
For mobile phones priced above Rs 2,000, the duty increase from 1% to 6%
Excise duty on SUVs raised from 27% to 30%, not applicable to those registered as taxis
Duty cut on leather, leather good machines
Excise duty raised by 18% on cigarettes
Increase import duty on motor cycles from 60% to 75%
Increase in import duty on high end motor vehicles from 75% to 100%
Increase import duty on raw silk from 5% to 16%
Customs duty on SUVs raised from 75% to 100%
5th large tax pay unit will be opened in Kolkata shortly
Additional Rs 100 crore allocated to help MFIs raise capital
Proposes to reduce securities transaction tax (STT) on Equity Futures to 0.01% from 0.017%.
STT rates cut on equity futures to 0.01% from 0.017%
Extends tax cut benefit to rupee infrastructure funds
Education cess to continue
Imposes 5-10% surcharge on local companies income above Rs 10 crore
No plans to revise direct tax rates
Surcharge of 10% on Rs 1 crore plus income earners
No revision in tax slabs
FY14 revenue deficit at 3.3%
DBT will be rolled out during the term of the UPA Govt
FY14 fiscal deficit at 4.8%
Fiscal deficit for current fiscal estimated at 5.2%
Plan expenditure for current at 5.55 lakh crores
Allocate 532 crores for core banking at post offices
10 lakh youth can be motivated in one year though proper skill development schemes
Setting up a fund with a contribution of 1,000 crore by the Govt for women
We have a collective responsibility to ensure the dignity and safety of Women: Finance Minister
To auction 839 licenses for FM network to cover entire India
Sebi Act to be amended
294 more cities to get private radio FM stations
Plans to expand private FM Radio
Science and Tech for common man innovations - supporting institutions including AMU, BHU
Announces higher outlay on waste management
Increase allocation for defence: P Chidambaram
Targets for skilling 5 crore people
Propose to evolve new criteria towards human development
Wind energy sector deserves incentives; provide Rs 800 crore for non renewable energy
Clean and Green Energy is the priority: FM
Streamlining FII registration via designated brokers
Plans to issue inflation-indexed bonds
SEBI to simplify KYC norms governing foreign investors
Proposes to allocate Rs 600 cr to Rural Housing Fund
Bank’s correspondents will be allowed to sell micro-finance
Rajiv Gandhi Equity Scheme will be liberalised
Home loan exemption limit hiked from Rs 1.5 lakh to Rs 2.5 lakh
Propose to provide Rs 2,000 crore for Urban Housing Fund
Propose to set up India's 1st women's bank as a public sector bank
Bring banks on CBS and e-payment systems
To allocate Rs 14,000 crore for capital infusion for public sector banks
Proposes to constitute Council of Experts in Ministry of Finance
Indian Institute of Biotechnology to be set up at Ranchi
Double SIDBI’s refinance capacity to Rs 10,000 crores
Double SIDBI’s refinance capacity to Rs 10,000 crores
Proposes zero customs duty for electrical plants and machinery
Allocate INR 2,400 crore for textile technology upgradation
Handloom sector is in distress: Chidambaram
Setting up of Apparel Parks to house apparel manufacturing units
Plans to launch two new industrial cities in Gujarat and Maharashtra
Oil Gas policy to move from profit share to revenue share
Coal imports to raise to 185 mn tones in 2016-17
We must reduce our dependence on imported coal: FM
Rs 50,000 crore tax bonds to be issued in FY14
Preparatory work started for Bengaluru-Mumbai Industrial Corridor
Improving power supply in Leh-Kargil region
Delhi-Mumbai industrial corridor has made rapid progress
Rajeev Gandhi Equity Savings Scheme will be liberalised
To target $1 trillion in infrastructure in the 12th plan
Promises Rs 10,000 crore for Food Security Bill
CCI to take up new projects shortly
Constitute a regulatory authority for road projects
Encourages increase investment in infrastructure
Doing business in India must be seen as easy, friendly and mutually beneficial
Rs 9,954 crore allocated for Rashtriya Krishi Vikas
FY 14 farm credit target at Rs 7 lakh crore
National Life Stock Mission to be launched; 307 crore allocated
Pilot Scheme to rejuvenate coconut farms to be extended across entire Kerala
Allocates Rs 500 crore for crop diversification projects
Start pilot programme on Nutri Farms, allocate Rs 200 crore to start the pilots
Allocates Rs 80,000 crore for Rural Development Ministry
FM allocates Rs 41,561 crore for SC sub-plan
Support Eastern Indian states like Assam, Bihar, Chhattisgarh for Green Revolution with an allocation of Rs 1,000 crore
Allocate Rs 27,049 crore for Agriculture Ministry
To purchase 10,000 buses under JNURM
Allocation of Rs 37,330 crore for health care
Jawaharlal Nehru National Urban Renewal Mission is been continued in the 12th Plan
Allocate Rs 13,215 crore for mid day meal scheme
Allocating Rs 65,000 crore for education sector
Setting up more water purification plants
6 AIIMS-like educational institutions have admitted first batch of students: Chidambaram
Scholarships for minorities and girl child
Allocate Rs 65,867 crore to Ministry of HRD
To allocate Rs 1,106 crore for alternative medicine industry
FY14 expenditure seen at Rs 16.65 lakh crore
To increase allocation for health, family welfare
To increase allocation for youth and women welfare
India faces challenge of getting back to its potential growth rate of 8%
Plan expenditure seen at Rs 5.53 lakh crore
Allocate INR 41,561 crore to SC plan
Food inflation is worrying
Aggregate demand, supply issue raising inflation
Foreign investment is an imperative to cut current account deficit
FM: Focus on rationalising expenditures
FM: Aggregate demand is a cause of inflation
Encourage investments that are consistent with economic development
Chidambaram: Women, schedule tribes, schedule castes have been left behind in economic growth
FM: Economy has slowed down after 2010
FM: Growth rate under UPA was highest
P Chidambaram: Country's most important resource are its people, thus human development is crucial
High growth leading to sustainable development is the 'Mool Mantra' says FM
Achieving high growth is not a novelty, we have done it before: FM
China and Indonesia only large economies growing faster than India, says FM
FM: Global economic growth slowed from 3.9% in 2011 to 3.2% in 2012
FM: We are not unaffected by what happens in the global economy
Finance minister P Chidambaram starts presentation of Union Budget 2013-14
Budget 2013 Expectations running high: Alchemy Capital
Chidambaram reaches Parliament to present Budget 2013
Chidambaram to opt for prudence over populism
Union Budget 2013 speech to begin at 11am
The Rupee today gained 26 paise to 53.60 against the dollar
Sensex is up around 100 points ahead of budget
Government is trying to address structural issues: UBS
Finance Minister P Chidambaram to present the Union Budget 2013-14 today