Highlights of the Union Budget 2013-14
Following are some of the keyhighlights of the Union Budget 2013-14 presented by finance minister P. Chidambaram in Parliament today:
*No change in income tax slabs
*Relief of Rs 2,000 for tax payers in tax bracket of Rs2-5 lakh
*10 per cent surcharge on persons with taxable income of over Rs 1 crore
*Tobacco products, SUVs and mobile phones to cost more
*Income limit under Rajiv Gandhi Equity Savings Scheme Raised to 12 lakh from Rs 10 lakh
*First home loan of up to Rs 25 lakh to get extra Interest deduction of up to Rs 1 lakh
* Duty free limit of gold import increased to Rs 50,000 For male passengers and Rs 1 lakh for female passengers
*India’s first women’s bank to be set up by October
* Concessional six per cent interest on loans to weavers
* Rashtriya Swasthya Bima Yojana benefit extended to Rickshaw pullers, auto and taxi drivers, among others
‘Nirbhaya Fund’ of Rs 1,000 crore to empower women and Provide safety in the wake of Delhi gangrape incident
*Fiscal deficit for 2013-14 pegged at 4.8 per cent of GDP and 5.2 per cent in 2012-13
*Plan expenditure pegged at Rs 5,55,322 crore and Non-Plan at Rs 11,09,975 crore
*New taxes to collect Rs 18,000 crore for government
*Voluntary Compliance Encouragement Scheme launched for Recovering service tax dues
*Rs 14,000 crore earmarked for capital infusion in public Sector banks in 2013-14
Refinance capacity of SIDBI raised to Rs 10,000 crore
*TUF Scheme for textile sector to continue in 12th Plan With an investment of Rs 1.51 lakh crore
*Rs 9,000 crore earmarked as first instalment of balance Of CST compensation to states
*Defence allocation at Rs 203,672 crore, education Rs 65,867 crore and rural development ministry Rs 80,194 cr
*Rs 10,000 crore earmarked for national food security towards incremental cost
*Farm credit target set at Rs 7 lakh crore as against Rs 5.75 lakh crore in 2012-13
*Direct benefit transfer scheme to be rolled out in the entire country during tenure of UPA government
*Commodity transaction tax of 0.01 per cent proposed on non-agri futures traded on commodity bourses
*Securities transaction tax brought down to 0.01 per cent
*No change in basic customs duty; normal excise and Service tax rates unchanged at 12 per cent
*Handmade carpets and textile floor coverings of coir or jute exempted from excise duty
*Excise duty on SUVs increased to 30 per cent from 27 per cent
*Chidambaram says India to become $5 trillion economy, And among top five in the world by 2025
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