The budget announced by Finance Minister Pranab Mukherji this year, elicited very mixed response from the cross section of people, professionals and corporates.
Highlights of Union Budget 2012:·
· Direct cash subsidy for LPG and Kerosene
· Direct transfer of subsidy to retailer and farmer
· GST to be operational from August
· Efforts on for FDI consensus
· 30000 crore divestment in 2013
· 5-point agenda
· STT may be abolished
· DTC implementation to be delayed
· 60000 crore tax fee band
· Rajiv Gandhi Equity schemes to get huge liquidity for stock
· 10000 crore for power sector
· ECB cop to be raised for airlines
· ECB for low cost housing projects
· 1000 crore for green revolution
· 300 crore for Vidarbh irrigation
· Additional 3% interest subsidy for farmers
· 11937 crore for mid day meal
· New ration shops on PDS
· 24000 crore for rural road
· 20822 for NRHM
· 3915 thousand crore for MANREGA
· 14000 crore for water and Sauchalaya in rural area
· 6000 new schools to set up
· 7 medical colleges to be upgraded
· 1000 crore for skill development
· Pension increased to 300 from last year 200
· 193407 for defence budget
· No tax on Rs. 2 lakh
· 10% tax on Rs. 2 lakh to 5 lakh
· 20% tax on Rs. 5 lakh to 10 lakh
· 30% tax on Rs. 10 lakh and above
· No change in corporate tax
· Service tax to increase by 12%
· Excise duty to be increased
· Diamond, gold, imported cycle, cigarette, tobacco, TV, Fridge, Phone Bill, Air Ticket to more cost
· Direct transfer of subsidy to retailer and farmer
· GST to be operational from August
· Efforts on for FDI consensus
· 30000 crore divestment in 2013
· 5-point agenda
· STT may be abolished
· DTC implementation to be delayed
· 60000 crore tax fee band
· Rajiv Gandhi Equity schemes to get huge liquidity for stock
· 10000 crore for power sector
· ECB cop to be raised for airlines
· ECB for low cost housing projects
· 1000 crore for green revolution
· 300 crore for Vidarbh irrigation
· Additional 3% interest subsidy for farmers
· 11937 crore for mid day meal
· New ration shops on PDS
· 24000 crore for rural road
· 20822 for NRHM
· 3915 thousand crore for MANREGA
· 14000 crore for water and Sauchalaya in rural area
· 6000 new schools to set up
· 7 medical colleges to be upgraded
· 1000 crore for skill development
· Pension increased to 300 from last year 200
· 193407 for defence budget
· No tax on Rs. 2 lakh
· 10% tax on Rs. 2 lakh to 5 lakh
· 20% tax on Rs. 5 lakh to 10 lakh
· 30% tax on Rs. 10 lakh and above
· No change in corporate tax
· Service tax to increase by 12%
· Excise duty to be increased
· Diamond, gold, imported cycle, cigarette, tobacco, TV, Fridge, Phone Bill, Air Ticket to more cost
You can see the Union Budget 2012 highlights and observe about it. Union Budget 2012-13 has brought more dearness for the common people. It is not the common man budget like Rail Budget 2012-13. Highlights of Union Budget 2012 make the situation clearer. People have to pay more money on services and indirect taxes. There is minor exemption in direct personal tax. Union Budget 2012 highlights give the glimpse of a bad budget. Union Budget 2012-13 is rated very bad for common man. It asks to pay more to live, eat and tour. There is no hope for common man seeing the highlights of Union Budget 2012-13. People should unite against it for the better future. The political party has no way to reduce burden of common man...
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