New budget is on.. and it has disappointed me.
Lets have a summary :
What you guys think about this budget, plz share !!!!!
Lets have a summary :
Gold buffs heres your comeuppance. Basic customs up on gold doubled. Also on platinum. Sin taxes also up on big bang some cigarettes and bidis. Small customes cuts on cigarettes, too.
Its becoming clearer that budget will do nothing to change the course of the economy. It is all incremental stuff so far nothing to set the Hooghly on fire (Mamata di, please note), or the Jamuna, for that matter, or the Mithi (Mumbaikars, please note).
No change in peak customs duty of 10 percent but in customs the exceptions are the rule. So dont worry about this number.
Overall service taxes raised to 12 percent. This will surely push up inflation since services account for 59 percent of the GDP. General excise also up to 12 percent. Big cars to cost more excise up from 22 to 24 percent. Market should know fiscal consolidation means some pain.
Bollywood exempted from service tax in some copyrighted stuff.
Here comes the big blow. Service tax to have negative list only 17 services exempt.
A bit more for markets. Securities transaction tax (STT) the stock exchange toll fee for buying and selling share is cut by 20 percent. Just crumbs for traders. STT is now 0.1 percent for delivery trades.
Finally, taxes. Rs 2 lakh zero tax, Rs 2-5 lakh 10 percent, Rs 5-10 lakh 20 percent and above Rs 10 lakh 30 percent. Interest income from banks tax-free upto Rs 10,000. No change in corporate taxes.
The big number, fiscal deficit at 5.9 percent thats 1.3 percent higher than 2011-12 budget estimate. Next years figure is 5.1 percent.
black money. He plans a white paper on black money. That sounds like tough action. FM says taxman can reopen your foreign accounts for 15 years. Except more bribe calls if you have opened than Swiss account.
Money for National Rural Health Mission (NRHM) increased to Rs 20,820 crore. Thought Mayas henchmen had already had their fill of this cash? Kushwaha, saab, whats going on?
He is going to recapitalise banks with over Rs 15,000 crore so that they can bail out Vijay Mallya and other aviation and other losers.
Source : firstpost
Its becoming clearer that budget will do nothing to change the course of the economy. It is all incremental stuff so far nothing to set the Hooghly on fire (Mamata di, please note), or the Jamuna, for that matter, or the Mithi (Mumbaikars, please note).
No change in peak customs duty of 10 percent but in customs the exceptions are the rule. So dont worry about this number.
Overall service taxes raised to 12 percent. This will surely push up inflation since services account for 59 percent of the GDP. General excise also up to 12 percent. Big cars to cost more excise up from 22 to 24 percent. Market should know fiscal consolidation means some pain.
Bollywood exempted from service tax in some copyrighted stuff.
Here comes the big blow. Service tax to have negative list only 17 services exempt.
A bit more for markets. Securities transaction tax (STT) the stock exchange toll fee for buying and selling share is cut by 20 percent. Just crumbs for traders. STT is now 0.1 percent for delivery trades.
Finally, taxes. Rs 2 lakh zero tax, Rs 2-5 lakh 10 percent, Rs 5-10 lakh 20 percent and above Rs 10 lakh 30 percent. Interest income from banks tax-free upto Rs 10,000. No change in corporate taxes.
The big number, fiscal deficit at 5.9 percent thats 1.3 percent higher than 2011-12 budget estimate. Next years figure is 5.1 percent.
black money. He plans a white paper on black money. That sounds like tough action. FM says taxman can reopen your foreign accounts for 15 years. Except more bribe calls if you have opened than Swiss account.
Money for National Rural Health Mission (NRHM) increased to Rs 20,820 crore. Thought Mayas henchmen had already had their fill of this cash? Kushwaha, saab, whats going on?
He is going to recapitalise banks with over Rs 15,000 crore so that they can bail out Vijay Mallya and other aviation and other losers.
Source : firstpost