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Budget 2013-14
(Highlights ,
Provisions & Analysis)
By:
Ankita Bharti
Rajeev Kumar
Manish Ranjan
Budget (2013-14) – At A glAnce
• Being the last budget of the current government ;UPA –II, and also
before the next upcomi...
Budget (2013-14) – HigHligHts
• The current slabs which were introduced last year are retained and
there is no case of rev...
Budget (2013-14) – HigHligHts
Serial No. Salary Slab Tax Percentage
4) Rs. 10,00,000/- Rs. 1,30,000/- plus 30
per cent of ...
Budget (2013-14) – HigHligHts
• TDS of 1 per cent on land deals over Rs. 50 lakh
• Excise duty on certain SUVs hiked to 30...
Budget (2013-14) – HigHligHts
• Revised estimate for total expenditure is Rs. 14.3 trillion in
2012/13, which is 96 pct of...
Budget (2013-14) – Provisions
• Tax Administraion Reforms Commission to be set up to review tax
laws
• Revised estimate fo...
Budget (2013-14) – Provisions
• Cabinet committee on investment set up to monitor stalled projects
and guide decision maki...
Budget (2013-14) – Provisions
• Natural gas pricing policy will be reviewed
• NELP projects that were stalled will be clea...
Budget (2013-14) – Provisions
• PSU banks to get Rs. 14,000 capital infusion in FY14
• Proposal to set up India's first wo...
Budget (2013-14) – Provisions
• KYC of banks will be sufficient to acquire insurance policies, banks
to act as brokers
• T...
Budget (2013-14) – Provisions
• 10 per cent stake or less will be treated as FII, and stake of more
than 10 to be treated ...
Budget (2013-14) – Provisions
• 11 lakh beneficiaries have received benefit under Direct Benefit
Transfer scheme
• Rs. 5,8...
Budget (2013-14) – Provisions
• Direct Taxes Code (DTC) bill to be introduced in current Parliament
session
• No change in...
Budget (2013-14)- AnAlysis
• Instead of spending money on roads , Education, and Power ,
UPA has been wasting nations reso...
Budget (2013-14)- AnAlysis
• Food Inflation is a big issue which is intolerance to middle & below
middle class people.
• B...
Budget (2013-14)- AnAlysis
• Mr Chidambaram should give more incentives for Exports - which
he has failed to do so.
• High...
Business ppt-Budget 2013-14 (Highlights , Provisions & Analysis)  -An assignment of Macro Economics
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Business ppt-Budget 2013-14 (Highlights , Provisions & Analysis) -An assignment of Macro Economics

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Transcript of "Business ppt-Budget 2013-14 (Highlights , Provisions & Analysis) -An assignment of Macro Economics"

  1. 1. Budget 2013-14 (Highlights , Provisions & Analysis) By: Ankita Bharti Rajeev Kumar Manish Ranjan
  2. 2. Budget (2013-14) – At A glAnce • Being the last budget of the current government ;UPA –II, and also before the next upcoming Lok Sabha elections in 2014,this budget is was surely seen as a last trump card to make their vote bank strong and to send some positive vibes in the masses. • In this budget the government has tried to win hearts of masses with it’s policies but also tried to fill financial gaps through some direct or back door strategies. • Looking forward we would try to focus on some highlights and provisions made in this budget and try to analyse that where this budget stands.
  3. 3. Budget (2013-14) – HigHligHts • The current slabs which were introduced last year are retained and there is no case of revision. Serial Number Salary Slab Tax Applied 1) Rs. 2,00,000/- Nil 2) Rs. 2,00,000 -Rs. 5,00,000/- 10 % and the amount by which the total income exceeds Rs. 2,00,000/- 3) Rs. 5,00,000- Rs. 10,00,000/- 30,000/- plus 20 per cent of the amount by which the total income exceeds Rs.
  4. 4. Budget (2013-14) – HigHligHts Serial No. Salary Slab Tax Percentage 4) Rs. 10,00,000/- Rs. 1,30,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/-. •These are the Normal Rates of tax for the financial year 2012-13 and assessment year 2013-14 but the same slab is maintained for this year as well with minute inclusions of add ons. • Surcharge of 10% on persons whose taxable income exceeds Rs. 1 crore
  5. 5. Budget (2013-14) – HigHligHts • TDS of 1 per cent on land deals over Rs. 50 lakh • Excise duty on certain SUVs hiked to 30 per cent • Specific excise duty on cigarettes increased by 18 per cent • On mobile phones priced at more than Rs. 2000, excise duty hiked to 6 per cent • Plan expenditure pegged at Rs. 555,322 crore • Non-plan expenditure pegged at Rs. 11,09,975 crore for 2013-14
  6. 6. Budget (2013-14) – HigHligHts • Revised estimate for total expenditure is Rs. 14.3 trillion in 2012/13, which is 96 pct of budget estimate • Person taking a loan for his first home during the period 2013-14 will be entitled to an additional deduction of Rs. 1 lakh • Excise rate, service tax rate unchanged • Import duty on rice bran oilcake withdrawn • Commodities futures contracts at 0.01 per cent • No change in basic customs duty rate of ten per cent and service tax rate of 12 per cent
  7. 7. Budget (2013-14) – Provisions • Tax Administraion Reforms Commission to be set up to review tax laws • Revised estimate for total expenditure is Rs. 14.3 trillion in 2012/13, which is 96 pct of budget estimate • 3000 km of road projects to be awarded in the first six months • Refinancing capacity of SIDBI increased to Rs. 10,000 cr from Rs. 5,000 crore for MSMEs • Allocation to defense spending up 4.5 per cent at Rs. 2.03 trillion
  8. 8. Budget (2013-14) – Provisions • Cabinet committee on investment set up to monitor stalled projects and guide decision making • Govt committed to food security bill. Rs. 10,000 crore set apart for expenditure likely under the Act • Clean drinking water and sanitation to get Rs. 15,260 crore • Rs. 1,400 crore to set up water purification plants to fight fluoride affected areas • Oil and gas policy will be reviewed and changed from a profit- sharing structure to a revenue sharing structure
  9. 9. Budget (2013-14) – Provisions • Natural gas pricing policy will be reviewed • NELP projects that were stalled will be cleared • A PPP policy framework is being devised with Coal India as a partner to provide coal to power producers. The Coal Ministry is working on it. • Non tax benefits to SME units to remain for 3 years after they outgrow from the category • SIDBI's refinancing capacity increased to Rs. 10,000 crore
  10. 10. Budget (2013-14) – Provisions • PSU banks to get Rs. 14,000 capital infusion in FY14 • Proposal to set up India's first women's bank as a PSU bank; initial capital to be Rs. 1,000 crore • Company investing Rs. 100 crore or more between now and 2015 will be entitled to deduct an investment allowance of 15 per cent in addition to depreciation • 2 new ports to be set up in West Bengal and Andhra Pradesh • Insurance companies can open branches in Tier II cities without prior approval of IRDA
  11. 11. Budget (2013-14) – Provisions • KYC of banks will be sufficient to acquire insurance policies, banks to act as brokers • The Insurance Law Amendment Bill and the PFRDA Bill are before the House, hope it gets passed in this session, says Chidambaram • FY13 fiscal deficit estimated at 5.2 per cent; FY14 fiscal deficit estimated at 4.8 per cent • A proposal to amend the SEBI Act to strengthen the regulator is under consideration, says the Finance Minister
  12. 12. Budget (2013-14) – Provisions • 10 per cent stake or less will be treated as FII, and stake of more than 10 to be treated as FDI • Nirbhaya fund set up with an allocation of Rs. 1,000 crore set up to ensure safety and security of women • FIIs can participate in Exchange Traded Currency Derivatives • Rs. 6,275 cr allocated to Ministry of Science and Technology; Rs. 5,880 cr to Department of Atomic Energy • All cities with population of more than 1 lakh to be covered with FM radio services
  13. 13. Budget (2013-14) – Provisions • 11 lakh beneficiaries have received benefit under Direct Benefit Transfer scheme • Rs. 5,87,082 crore to be transferred to states under share of taxes and non-plan grants in 2013-14 • Rs. 532 crore to make post offices part of core banking • National Institute for Sports to train coaches to be set up at Patiala at a cost of Rs. 250 crore • Grant of Rs. 100 crore each to AMU (Aligarh), BHU (Varanasi) and TISS (Guwahati) and INTACH.
  14. 14. Budget (2013-14) – Provisions • Direct Taxes Code (DTC) bill to be introduced in current Parliament session • No change in peak rate of customs duty for non-agriculture products • Modified GAAR norms to be introduced from April 1, 2016 • Commodities transaction tax levied on non-agriculture
  15. 15. Budget (2013-14)- AnAlysis • Instead of spending money on roads , Education, and Power , UPA has been wasting nations resources on these vote catching schemes Free Loans ..Farm Loan waiver .. 1 lakh crore ? Free Jobs ..NREGA .. 50,000 crore /year Free food.. Food security bill . 2 lakh crore /year Free Money.. Direct Cash Transfer .. ? lakhcrore /year All these schemes for Congress to get votes is to be paid by Middle class , through higher Taxes , higher Interest rates , and higher Fuel/power prices .. .
  16. 16. Budget (2013-14)- AnAlysis • Food Inflation is a big issue which is intolerance to middle & below middle class people. • But no clear picture drawn to cut the food inflation. • Again the middle class salaried person gonna suffered most,with no increase in tax exemption limit, commutation allowances, medical allowances Finance Minister has just shown a mirage of Rs.2000 tax rebate, as what they had taken is much more. • With manifold increase in prices of almost everything, there is nothing left with common man to save.
  17. 17. Budget (2013-14)- AnAlysis • Mr Chidambaram should give more incentives for Exports - which he has failed to do so. • Higher export earnings are the only way to curb the falling rate of Indian Rupee
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