Digital Camera Reviews

The Budget Highlight of Final Budget presented by new government on 6-July 2009 is given below :

- MAT hiked to 15% of book profit
- New Pension Scheme introduced
- Commodity transaction tax to be axed
- Hike in IT exemption for women to Rs 1,90,000
- Surcharge on personal tax scrapped
- Fringe Benefit Tax scrapped
- Elimiate surcharge of 10 pc on personal income tax
- IT exemption by Rs 15000 for senior citizens
- No change in Corporate tax
- GST will be dual in nature
- Centre and state will each legislate on GST
- Goods and Services Tax to be introduced April 1, 2010
- Federal tax\GDP ratio is 11.5 per cent
- Share of direct taxes increased by 56%
- New direct tax code in next 45 days
- Direct tax share gone up by 58 per cent
- Fiscal deficit estimated at 6.8 per cent
- Tax GDP improves to 11.9 pc
- Centralise Tax processing centre at Bengaluru
- Tax distortions to be eliminated
- Budget expenditure of 2009-10 at Rs 10,28,032cr
- Planned expenditure raised by 34 per cent
- Enhance pension for defence pensioners
- Biometric smart cards in 12-18 months
- Allowances of Para-military at par with defence forces
- National Ganga Project hiked to Rs 562 cr
- One rank, one pension for ex-servicemen from July 1
- Pension of non-commissioned officers to be hiked
- Allocation of Rs 50 cr to Chandigrah University
- Commonwealth allocation hiked to Rs 16,300 cr
- 50 per cent of rural women in self-help groups
- Interest subsidy to benefit 5 lakh students
- Rice, wheat at Rs 3 per kg to the poor
- Subvention of 1% as incentives to farmers
- Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
- Real wage of Rs.100/day provided under NREGA
- PSUs will remain under Govt control
- Banks, Insurance to stay with Govt: FM
- Banking network to be expanded
- Banking sector relatively unaffected by the slowdown
- IT return forms to be more user friendly
- Saral-II forms to simplify taxation process