Union budget 2013 14
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The annual Union Budget is the Finance Minister's report on government spending and revenues from the previous year and planned spending for the coming year. Key topics of the budget include changes in tax rates and duties on various goods and services. This year's budget maintained income tax rates but imposed a 10% surcharge on incomes over Rs. 1 crore. It allocated increased funding for sectors like defense, health, education, agriculture, and women's programs. While some goods like luxury cars saw increased duties, others like textiles faced reduced duties. The budget aimed to boost investment in infrastructure and encourage foreign direct investment.
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Union budget 2013 14
- 1. BUDGET OF HOPES BY:abhilash Source:google &economic times
- 2. What does the annual Union Budget mean? The annual Union Budget is the Finance Minister’s report on what the Government of India has done with the country’s money over the past year and what is expected in the coming year.
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- 4. Key topics of budget?
- 5. The Finance Minister presents the final Budget, after it is worked on by the Ministry of Finance. The Budget is presented to the Lok Sabha on the last working day of February. It has then to be discussed and passed by the house before coming into effect on April 1st.
- 6. *Image via Bing India’s Finance Minister P Chidambaram presented the Union Budget 2013-14 in Parliament on February 28, 2013
- 8. Dearer Cigarettes, cigars $ cheerots Luxury cars, motor cycles Sports Utility Vehicle Set Top Boxes Dining at air-conditioned restaurants Marbles for flooring Parking fees , mobile phones , Raw silk Sales of immovable property worth over Rs 50 Lakh
- 9. Cheaper Handmade carpets Electric and hybrid vehicles Leather and leather goods including footwear Precious and semi-precious stones Rice bran oil cake Readymade garments Textile floor coverings of coir or jute Imported cheaper hazel nuts and dehulled oat grain Sabudana (tapioca sago) Truck chasis
- 10. *Images via Bing No revision in Income Tax slabs Surcharge of 10% would be imposed on those earning over Rs 1 crore in a year, for 2013-14
- 11. *Image via Bing Rs 1 lakh additional exemption for upto Rs 25 lakh home loans
- 12. *Image via Bing Total allocation Rs 2,03,672 crore DEFENCE
- 13. *Image via Bing Health Total allocation Rs 2,03,672 crore
- 14. Education *Image via Bing Total allocation Rs 65,867 crore
- 15. Ssa GETS *Image via Bing *Images via Bing Mid-day meal programme gets Rs 13,215 crore SSA gets Rs 27,258 crore
- 16. Agriculture *Image via Bing Total allocation Rs 27,049 crore
- 17. Rs 1,000 crore for skill development of 10 lakh youth to enhance their employability For Youth
- 18. *Images via Bing Special focus on medical education, training and research New National Health Mission to get Rs 21,239 crore
- 19. For Women An all-women bank by November 2013 with an initial capital of Rs 1,000 crore Rs 1,000 crore Nirbhaya Fund, named after Delhi gangrape victim, to empower women
- 20. *Image via Bing Textile industry exempted from excise tax; Cheers
- 21. *Image via Bing Gold import duty unchanged in this budget
- 22. s *Image via Bing Need to encourage FDI, says Chidambaram
- 23. •Tax free bonds by Infrastructure Finance Companies will boost investors in high Tax slabs to invest rather than FD’s. •Inflation Indexed Bonds are going to introduce for investors providing hedge against Inflation. •Deduction on Home Loan can help individual to take Loans.As due to this more Loans is going to be taken in this FY,if not this deduction will be continued in next FY also. •No major proposal to cut Current Account Deficit-Possibility of decreasing RUPEE value beyond 55 level as there is not a single proposal to increase export. Cont…
- 24. Purchasing power can grow for busses but Increase in exercise duty by 3% can reduce the sale of SUV’s car versions. Higher tax on royalties will incase tax autgo of Multi-National FMCG companies . At some extent ITC will have to face loss as per duty increases on cigarettes. Due to focus on youth employment and investment in Infrastructure now this is going to increase employment rate as well as Purchasing power.
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