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Union budget 2013

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Union budget 2013 India

Published in: Economy & Finance

Union budget 2013

  1. 1. INDIA UNION BUDGET 2013 2014.………………..Tushar Joshi : http://www.linkedin.com/in/tushar41280tushar41280@yahoo.co.in Classified - Internal use
  2. 2. Hidden Indications behind budget-Strong push for Rural markets and employment-Deployment of resources towards training and education-Aid to countries sharing border esp. Bhutan (China influence)- Reducing connect with urban salaried middle class Classified - Internal use
  3. 3. Some TerminologiesRevenue Budget - Revenue Receipt - Revenue PaymentCapital Budget - Capital Receipt - Capital PaymentExpenditure - Plan - Non PlanClassified - Internal use
  4. 4. Revenue Receipt - Gross Tax Revenue - Non Tax Revenue Capital ReceiptClassified - Internal use
  5. 5. REVENUE:DIRECT TAX•CORPORATION (CORPORATE) TAX•TAXES ON INCOME OTHER THAN CORPORATION TAX•SECURITIES TRANSACTION TAX (STT)•WEALTH TAX•CAPITAL GAINS TAX•DIVIDEND DISTRIBUTION TAX (DDT)•MINIMUM ALTERNATE TAX (MAT)•WITHHOLDING TAXINDIRECT TAX•CUSTOMS•UNION EXCISE DUTY•SERVICE TAX•GSTClassified - Internal use
  6. 6. Classified - Internal use
  7. 7. EXPENDITURE•GROSS BUDGETARY SUPPORT : Funding of the 5 year Plan•PLAN EXPENDITURE: Support to the annual plans•NON-PLAN EXPENDITUREinterest payments, subsidies, salaries, defence & pensions. Its‘capital’ component is small, the largest chunk being defence. Classified - Internal use
  8. 8. When government’s expenditure exceeds its receipts, it has to borrow to meet theshortfall. PUBLIC DEBT•FISCAL DEFICIT : shortfall, which is met with borrowed funds, is called fiscal deficit.Technically, it is the excess of government expenditure over ‘non-borrowed receipts’ —revenue receipts plus loan repayments received by the govt plus miscellaneous capitalreceipts.•REVENUE DEFICIT It is the excess of revenue expenditure over revenue receipts. Allexpenditure on revenue account should ideally be met from receipts on revenueaccount; the revenue deficit should be zero. In such a situation, the governmentborrowing will not be for consumption but for creation of assets.•EFFECTIVE REVENUE DEFICIT This is an even tighter number than the revenuedeficit. It is revenue deficit less grants for creation of capital assets.•PRIMARY DEFICIT It is the fiscal deficit less interest payments made by thegovernment on its earlier borrowings. Classified - Internal use
  9. 9. Key Indicators Revenue Deficit - Revenue Expenditure less: Revenue Receipts Fiscal Deficit - Total Expenditure less: (Revenue Receipt + Loan Recovery + Other Receipts) Primary Deficit - Fiscal Deficit less: Interest PaymentsLooking at the numbers, it is obviousthat we don’t have enough money tospend, on so many pressing priorities Classified - Internal use
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  12. 12. FIRST DAY FIRST SHOWSERVICE TAX VOLUNTARY COMPLIANCE ENCOURAGEMENT SCHEMECOMMODITIES TRANSACTION TAX (CTT):INVESTMENT ALLOWANCEINFLATION INDEXED BONDRs.1,000 CR ALLOCATION –NIRBHAYA FUND Classified - Internal use
  13. 13. Same IT slabs; 500 Cr crop divrfn tax credit of 200 Cr nutrient Will need $75Rs.2,000 - up to crops billion to finance Rs.5 L 50 Cr farmer org. current account10% sc > Rs.1 cr National deficit (42,800 ppl) 307 Cr Nat. RGES – 12 L Livestock Mission HRD -.65,867 CR DCT scheme to High-end vehicles 17% increase be rolled out import duty: 75% MDM : 13,25 CR across the to 100 % Rural dev., 46% country during Excise duty onincrease to 80294 UPA-2 term (May cigarettes 18 % cr; 33000 cr for 2014)rural jobs scheme Classified - Internal use
  14. 14. 1 Lakh extra tax Defencesaving u/s 80 EE allocated E – Filing for all for first time Rs.203,672 CR people above 5home buyer, up an increase of Lakh bracket to 25 Lakh loan 5% Banking AUTO Tax on mutual Additional 3% increase in fund capital of 14000 excise on SUV redemptions Cr for PUSs Bus Purchase reduced from . Crop Loan + under JNNURM 25 % to .001 % Home Loan Classified - Internal use Classified - Internal use
  15. 15. THANK YOUClassified - Internal use Classified - Internal use

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