7. Revenue numbers
Actual
2011-12
(Rs. in cr.)
Revised
2012-13
(Rs. in cr.)
Increase
2013-14 Increase
(Rs. in cr.)
Corp. Tax
322,816
358,874
11%
419,520
17%
Other IT
164,485
199,930
21%
240,919
25%
Customs
149,327
164,853
10%
187,308
15%
Excise
144,900
171,315
19%
198,805
18%
97,509
132,697
36%
180,141
37%
Service tax
8. Other critical numbers
Budget
Revised
2012-13
2012-13
(Rs. in cr.) (Rs. in cr.)
Increase
Underspent (-) /
overspent (+)
(Rs. in cr.)
2013-14
(Rs. in cr.)
Increase
- Revenue
426,513
343,373
443,260
- Capital
100,512
85,814
112,062
Total Plan Expenditure
521,025
429,187
-18%
- 91,838
555,322
29%
Subsidy
190,015
257,654
36%
67,639
231,084
10%
Petroleum subsidy
43,560
96,880
123%
53,500
Health & welfare
30,477
24,894
-18%
-5,583
32,745
32%
Human Resources
61,427
56,223
-9%
-5,204
65,869
17%
Rural development
76,376
55,000
-29%
-21,376
80,194
46%
9. Measures for growth of economy/investment
ā¢ Investment allowance - 15% on Plant & machinery
installed exceeding Rs. 100 crores between 1.4.13 to
31.3.15
ā¢ Attempt to discourage investment into Gold/real estate
ā¢ Tax free Bonds
ā¢ Inflation ā indexed bonds
ā¢ High infrastructure spending 7-1-1 of GDP
10. Measures for growth of economy/investment
ā¢ Plan expenditure ā Rs. 5.5 lac crore
-
Growth of 29.4%
ā¢ New industrial corridors of Mumbai-Bengaluru + Bengaluru-Chennai
proposed
ā¢ High rural spending : Rs. 80,194 Cr.
ā¢ Regulatory authority for road sector
ā¢ Coal addressed
ā¢ Mass Housing : Rs. 1 lac additional deduction for first time buyer - cost
limit of Rs. 40 lacs / Loan Rs. 25 lacs
ā¢ Agricultural - Rs. 27049 Cr.
ā¢ Agricultural credit - Rs. 7 lacs Cr.
11. Sources
ā¢
Surcharge at 10% on incomes above Rs. 1 crore - Total numbers.
42800
ā¢
Commodity Transaction tax
ā¢
S. C. on Corporate rates up from 5% to 10% on taxable incomes above
Rs. 10 crores
ā¢
Higher service tax on residential units above Rs. 1 crore or more than
2000 Sq. ft.
ā¢
Dining in AC Restaurants liable to Service-tax
ā¢
Divestment: Rs.
ā¢
Telecom sector: Rs. 41000 Cr.
ā¢
Dividends/profits: Rs. 44000 Cr.
ā¢
Plugging loopholes
54000 Cr.
12. Containing fiscal deficit
ā¢ Expectation of high tax buoyancy and high
growth
ā¢ Reduction in subsidy 2.6% of GPD to 2% of GDP
ā¢ Expectations are that Capex is not compromised
as was done this year
13. Plugging loopholes
43CA:
ā¢ 50C applicable on transfer of immovable property as held as
stock-in-trade
Property related:
ā¢ 1% tax deduction on transfer of immovable property exceeding
Rs. 50 lacs
ā¢ Tax on property purchased for inadequate consideration( less
than stamp authority rate) ā Rs. 50,000 diff. permitted
ā¢ āTax due toā include penalty and interest
14. Education / health
ā¢ Swasthya Bim Yojana extended to rixa-pullers,auto & taxi
drivers, sanitary workers
ā¢ Drinking water
ā¢ Sarva Shiksha Abhiyan
Giveaways
ā¢ Reduction in S. T. T.
ā¢ Tiny dot of Rs. 2000 to persons with incomes upto Rs. 5
lacs
15. Other provisions
ā¢ Improving savings rate and investment in financial savings
ā¢ Insurance
ā¢ Fl permitted to invest in currency futures
ā¢ Gold investment discouraged
ā¢ Garbage to energy
ā¢ Wind energy
ā¢ Skill development - Rs. 5 crore
ā¢ Service tax Amnesty Scheme
ā¢ 17 lac registration; 7 lac file returns
16. Other provisions
ā¢ G. S. T.
ā¢ D. T. code
ā¢ More required to encourage investment like
ā Cutting red tape
ā Expediting clearances
ā Improving Governance
ā¢ GAAR continued to be deferred
17. Main Constants of the Indian Economy at present
ā¢ High Fiscal deficit.
ā¢ Reliance on foreign inflows.
ā¢ Lower savings and lower investment.
18. Reasons for current account weakness
ā¢ Excessive dependence on oil imports.
ā¢ High volumes of coal imports.
ā¢ Our passion for gold.
ā¢ Slow down in exports.
Thatās why we need more FDI, FII and ECB.
19. Agriculture
ā¢ 3.6% annual growth achieved during 11th plan.
ļ Total food grains production during 2012-13
estimated at 250 million tones.
ļ Minimum support price increased significantly.
ļ Agriculture exports from April-Decemberā12 at Rs.
138403 crores.
ļ Agriculture credit target of Rs. 575000 crores for
2012-13 and Rs. 700000 crores for 2013-14.
ļ Provision for agriculture research Rs. 3415 crores.
20. Investment Infrastructure & Industry
ā¢ 12th plan projects an investment of Rs. 5500000 crores
in infrastructure.
ā¢ Private sector to share 47% of this.
ā¢ Ports-two major ports one in West Bengal and other in
Andhra Pradesh.
ā¢ National waterways.
21. Suggested Tips
ā¢ The coal rates are going to increase by 2020 -2035. Focus
on Solar Power Plant.
ā¢ Fiscal Deficit- When a government's total expenditures
exceed the revenue that it generates (excluding money
from borrowings). Deficit differs from debt, which is an
accumulation of yearly deficits.
ā¢ Rather making ECONOMIC strong we are making the TAX
strong.
22. Thank You !
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