Union budget 2013


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Union budget 2013

  1. 1. By-Mrs.Binny Bhogal Rawat Prof. Finance-HLCPE
  2. 2. Finance Minister-ChidambaramPalaniappan
  3. 3. What is Union Budget? The Union Budget is the financial annual report of India as a country. It contains the government of Indias revenue and expenditure for the end of a particular fiscal year, which runs from April 1 to March 31 It comprises the revenue budget and the capital budget. It also contains estimates for the next fiscal year.
  4. 4. What is economic survey? The FM presents the economy survey in the parliament every year just before the union budget
  5. 5. Sector Impact-Textiles Excise Duty on readymade garments exempted +ve for textile sectorBombay Rayon 240.45 0.95Mandhana Ind 249.60 3.2
  6. 6. Auto - Negative Excise Duty on SUVs raised negative Higher allocation to defence +veMah and Mah 878.00 -19.55Maruti Suzuki 1424.45 -6.3
  7. 7. Banks 4% farm loan scheme extended to private sector banksHDFC Bank 630.50 -2.45ICICI Bank 1108.35 14.75Axis Bank 1402.15 -1.05
  8. 8. Cigarettes Excise Duty on cigarettes up 18% negative for ITCITC 287.05 -5.55
  9. 9. Construction & Contracting -Real Estate Excise Duty on marble slabs increased negative for real estate
  10. 10. Budget Interpretations Branded apparels will be cheaper it has been removed from excise duty regime 18% rise in excise duty on cigarettes, cigars and cheroots. More duty free gold items can be purchased by the NRIs now. However, they must have been outside India for more than a year.
  11. 11.  Import duty on luxury cars, motorcycles and yachts is increased from 75% to 100%. FinMin has provided a tax credit of Rs 2,000 to individual tax payers with taxable income of up to Rs 5 lakh. Indias first womens bank as a PSU has been proposed with Rs. 1,000 crore working capital. P. Chidambaram has also proposed to provide Rs. 1,000 crore for Nirbhaya fund for women.
  12. 12.  Smartphones will become dearer as the excise duty on mobile instruments priced above Rs 2,000 has been raised to six per cent. Super-rich tax was levied as a 10 per cent surcharge on "relatively prosperous" persons with an income over Rs 1 crore
  13. 13.  P. Chidambaram re-introduced the generation based incentives to wind energy. Rs 800 crore has been provided for this purpose to Ministry of New & Renewable Energy The excise duty on Sports Utility Vehicles (SUV) will be raised to 30 per cent from 27 per cent
  14. 14. FISCAL DEFICIT* Fiscal deficit seen at 5.2 point of GDP in2012/13* Fiscal deficit seen at 4.8 point of GDP in2013/14
  15. 15. SUBSIDIES * 2013/14 major subsidies bill estimated at 2.48 trillion rupees from 1.82 trillion rupees * Petroleum subsidy seen at 650 billion rupees in 2013/14 * Revised petroleum subsidy for 2012/13 at 968.8 billion rupees * Estimated 900 billion rupees spending on food subsidies in 2013/14 * Revised food subsidies at 850 billion rupees in 2012/13 * Revised 2012/13 fertiliser subsidy at 659.7 billion rupees
  16. 16. INFLATION* Food inflation is worrying, will take allsteps to augment supply side
  17. 17. FOREIGN TRADE* To cut duty on exports of precious andsemi-precious stones to 2 point from 10point* No duty on import of ships, vessels
  18. 18. STT Securities Transaction Tax on mutual fund and ETF redemptions, equity futures reduced to 0.01%;
  19. 19.  one million is equal to 10 lakhs 1 billion = 100 crore 1 trillion = 100,000 crore http://www.moneycontrol.com/news/