3/6/2013   PANKAJ KUMAR, IIBM PATNA   1
•MAIN PROVISIONBUDGET• There is no changes in Income Tax ratesor slabs, Rs 2000 credit for those earningup to Rs 5 lakh pe...
HIGHLIGHTS• 12% excise duty imposed on branded  retail garments.• Surcharge of 10 percent for taxable  incomes above Rs. 1...
CONT      …• Tax Deducted at Source to be fixed at  1% on land deals over Rs 50 lakh.• 30% excise duty hike on SUVs.• 6% e...
CONT   …• New Rajiv Gandhi Equity  scheme to allow for 50%  deduction to small investors.• Banks are open for the women.• ...
3/6/2013   PANKAJ KUMAR, IIBM PATNA   6
• Economic growth from 3.9 per cent in 2011 to 3.2 per cent in  2012.• ‘Higher growth leading to inclusive and sustainable...
3/6/2013   PANKAJ KUMAR, IIBM PATNA   8
• Total expenditure of `16,65,297 crore and of Plan  Expenditure at `5,55,322 crore.• Plan Expenditure in 2013-14 to grow ...
Rupees `97,134 crore allocated for programmesrelating to women and `77,236 crore allocated forprogrammes relating to child...
• New National Health Mission will get an allocation of `21,239  crore• `4,727 crore for medical education, training and r...
Agriculture• Average annual growth rate of agriculture and allied sector  was 3.6% during XI Plan against 2.5% and 2.4% in...
Allocation of `80,194 crore in 2013-14 for Ministry ofRural Development marking an increase of 46% over RE2012-13. 3/6/201...
Additional provision of Rs. 10,000 crore for National FoodSecurity Act. 3/6/2013                PANKAJ KUMAR, IIBM PATNA  ...
• Infrastructure tax-free bond of `50,000 crore in 2013-14• Build roads in North eastern states and connect them to Myanma...
3/6/2013   PANKAJ KUMAR, IIBM PATNA   16
• No case to revise either the slabs or the rates of Personal Income  Tax.• Surcharge of 10 percent on persons (other than...
• Duty of 10 percent on export of unprocessed ilmenite  and 5 percent on export on ungraded ilmenite.• Duty on Set Top Box...
• Relief to readymade garment industry.• Spun yarn made of man made fiber, duty of 12  percent at the fiber stage.• Excise...
ANALYSIS OF BUDGET•This Budget is the sixth in the series whish is designed to getcountry back on track.•The Government’s ...
POSITIVE ANALYSIS•    Excise duty on readymade garments was     exempted.•     Net increase in MAT rate by 0.95 percent fo...
NEGATIVE ANALYSIS•   The major negative for small investor is the dividend    distribution tax, which has been hiked for t...
Conclusion text of the 2013 budget:- This is among the series of budgets that will propel this beloved  nation towards ac...
3/6/2013   PANKAJ KUMAR, IIBM PATNA   24
3/6/2013   PANKAJ KUMAR, IIBM PATNA   25
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Budget 2013 2014

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Budget 2013 2014

  1. 1. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 1
  2. 2. •MAIN PROVISIONBUDGET• There is no changes in Income Tax ratesor slabs, Rs 2000 credit for those earningup to Rs 5 lakh per annum, Union financeMinister said in Parliament while readingout the Budget.• There will be a surcharge on those earning above Rs 1 crore. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 2
  3. 3. HIGHLIGHTS• 12% excise duty imposed on branded retail garments.• Surcharge of 10 percent for taxable incomes above Rs. 1 crore.• No review of tax slabs.• Tax credit of Rs. 2,000 for income up to Rs. 5 lakh.• Commodity transaction tax for non- agri commodity trading.PANKAJ KUMAR, IIBM PATNA 3/6/2013 3
  4. 4. CONT …• Tax Deducted at Source to be fixed at 1% on land deals over Rs 50 lakh.• 30% excise duty hike on SUVs.• 6% excise duty hike on mobiles above Rs. 2,000• Branded silver Jewellery fully exempt from excise duty.• 5% customs duty exempted on equipment for fertilizer PANKAJ KUMAR, IIBM PATNA 3/6/2013 plants 4
  5. 5. CONT …• New Rajiv Gandhi Equity scheme to allow for 50% deduction to small investors.• Banks are open for the women.• Raises Income Tax exemption limit to Rs 2 lakhs from Rs 1.8 lakhs 3/6/2013 PANKAJ KUMAR, IIBM PATNA 5
  6. 6. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 6
  7. 7. • Economic growth from 3.9 per cent in 2011 to 3.2 per cent in 2012.• ‘Higher growth leading to inclusive and sustainable development’ to be the mool mantra.• Between 2004 and 2008, and again in 2009-10 and 2010-11 the growth rate was over 8 per cent and crossed 9 per cent in four of those six years. KUMAR, IIBM PATNA 3/6/2013 PANKAJ 7
  8. 8. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 8
  9. 9. • Total expenditure of `16,65,297 crore and of Plan Expenditure at `5,55,322 crore.• Plan Expenditure in 2013-14 to grow at 29.4 per cent over Revised Estimates for the current year.• Budget for 2013-14 to have one overarching goal of creating opportunities for our youth to acquire education and skills that will get them decent jobs or self-employment. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 9
  10. 10. Rupees `97,134 crore allocated for programmesrelating to women and `77,236 crore allocated forprogrammes relating to children.3/6/2013 PANKAJ KUMAR, IIBM PATNA 10
  11. 11. • New National Health Mission will get an allocation of `21,239 crore• `4,727 crore for medical education, training and research.• `27,258 crore provided for Sarva Shiksha Abhiyaan (SSA).• Mid Day Meal Scheme (MDM) to PATNA provided `13,215 crore. 3/6/2013 PANKAJ KUMAR, IIBM be 11
  12. 12. Agriculture• Average annual growth rate of agriculture and allied sector was 3.6% during XI Plan against 2.5% and 2.4% in IX and X plans respectively.• For 2013-14, target of agriculturalPATNA 3/6/2013 PANKAJ KUMAR, IIBM credit kept at `7 lakh crore. 12
  13. 13. Allocation of `80,194 crore in 2013-14 for Ministry ofRural Development marking an increase of 46% over RE2012-13. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 13
  14. 14. Additional provision of Rs. 10,000 crore for National FoodSecurity Act. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 14
  15. 15. • Infrastructure tax-free bond of `50,000 crore in 2013-14• Build roads in North eastern states and connect them to Myanmar with assistance from WB & ADB• `5,000 crore to NABARD to finance construction for warehousing.• 3000 kms of road projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh will be awarded in the first six months of 2013-14. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 15
  16. 16. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 16
  17. 17. • No case to revise either the slabs or the rates of Personal Income Tax.• Surcharge of 10 percent on persons (other than companies) whose taxable income exceed `1 crore to augment revenues.• TDS at the rate of 1 percent on the value of the transfer of immovable properties where consideration exceeds `50 lakhs.• No change in the normal rates of 12 percent for excise duty and service tax. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 17
  18. 18. • Duty of 10 percent on export of unprocessed ilmenite and 5 percent on export on ungraded ilmenite.• Duty on Set Top Boxes increased from 5 to10 percent.• Duty on raw silk increased from 5 to 15 percent.• Duty free gold limit increased to `50,000 in case of male passenger and `1,00,000 in case of a female passenger subject to conditions. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 18
  19. 19. • Relief to readymade garment industry.• Spun yarn made of man made fiber, duty of 12 percent at the fiber stage.• Excise duty on SUVs increased from 27 to 30 percent.• Duty on mobile phones priced at more than `2000 raised to 6 percent. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 19
  20. 20. ANALYSIS OF BUDGET•This Budget is the sixth in the series whish is designed to getcountry back on track.•The Government’s task is not made any easier by the state of theglobal economic environment where there is little growth.• At the start of the process to redress our budgetary position, returnto growth could have been anticipated.•Such growth in itself would have cut unemployment, increasedtaxes and addressed part of the issue.•It is useful to consider what the Government must still achieve if weare to eliminate the Budget deficit.• Corrections of €3.5 billion, €3.1 billion and€2.0billion are required over the years 2013 to 2015 to get the deficitdown to 2.9%-a requirement of being in the Euro. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 20
  21. 21. POSITIVE ANALYSIS• Excise duty on readymade garments was exempted.• Net increase in MAT rate by 0.95 percent for Rs 10 crore book profits.• There will be Inc scrutiny for foreign investor. This will include the Mauritius route.• There wont be any extension of 80IA deduction for Hospitals and Hotels.• No Cascading effect of DDT (dividend distribution tax) on dividend recorod from foreign companies.• 15 percent tax on dividends from overseas company is now extended by a year. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 21
  22. 22. NEGATIVE ANALYSIS• The major negative for small investor is the dividend distribution tax, which has been hiked for the debt fund.• For the non-liquid funds also the dividend distribution tax has been hiked to 25 percent. Over and above there is an education cess and also there is a surcharge, which also has been hiked from 5 percent to 10 percent.• These funds are very popular especially for those who want regular income. What has happened is whether one is a tax payer or not a tax payer or 10 percent or 20 percent, the moment one opt for a dividend distribution or a monthly dividend or a quarterly dividend one end up paying almost 28-29 percent as a dividend distribution tax.3/6/2013 PANKAJ KUMAR, IIBM PATNA 22
  23. 23. Conclusion text of the 2013 budget:- This is among the series of budgets that will propel this beloved nation towards achieving the national vision. With the permission of the Almighty, and the support of the rakyat, god willing we will witness six more budgets to be tabled by the Barisan Nasional Government before transforming Malaysia from middle to a high income and developed country. As a party with the mandate, we urge the rakyat to evaluate critically and rationally each and every successful record of the Barisan Nasional. Over the last 55 years, the Barisan Nasional Government and the earlier Perikatan Government have created a better quality of life for the rakyat.3/6/2013 PANKAJ KUMAR, IIBM PATNA 23
  24. 24. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 24
  25. 25. 3/6/2013 PANKAJ KUMAR, IIBM PATNA 25

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