Union Budget 2013-14 | Rail Budget | Economy Survey

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FM begins work on rollout of Budget announcements

Officials said this was the first time a finance minister had started acting on his Budget speech so swiftly

Highlights


  • Total Budget estimate for FY14 pegged at Rs 16.44 lakh crore
  • Gross Tax Revenue pegged at Rs 12.36 lakh crore
  • Total subsidy bill estimated at Rs 2.31 lakh crore in FY14
  • Gross market borrowings pegged at Rs 6.29 lakh crore in FY14
  • Fiscal deficit for FY13 contained at 5.2%, pegged at 4.8% for FY14
  • Current account deficit a bigger worry than fiscal deficit; need $75 billion to feed CAD over next 2 years
  • Super-rich tax introduced: 10% surcharge on tax on individual incomes above Rs 1 crore a year
  • Basic slabs and tax rates untouched; Tax credit of Rs 2,000 to taxpayers in Rs 2,00,000-Rs 5,00,000 income bracket
  • Securities Transaction Tax on equity futures reduced from 0.17% to 0.1%
  • Commodities transaction tax of 0.01% introduced on non-farm commodity futures
  • Dividend Distribution Tax (DDT) surcharge raised from 5% to 10%
  • 1% TDS introduced on non-farm land deals valued at more than Rs 50 crore
  • Duty-free gold import limit raised to Rs 50,000 for male passenger, Rs 1,00,000 for females
  • Duty on imported luxury cars hiked from 75% to 100%, motorbikes not spared either
  • DTC Bill to be introduced in Budget Session of Parliament

Expert Chat Panel 

T N Ninan, Chairman, Business Standard
 
A K Bhattacharya, Editor, Business Standard
 
Aashish Kamat , Managing Director and Group CEO, UBS India
 
Gaurav Mashruwalla, Certified Financial Planner
 
R Venkataraman, MD and CEO, IIFL
 
Sampath Reddy, CIO, Bajaj Allianz Life Insurance
 
Jitendra Sriram, Director and Head of Research (India), HSBC Securities
 
Navneet Munot, Executive Director and CIO, SBI Mutual Fund
 
Sunil Singhania, Head of Equity, Reliance Capital
 
Pankaj Pandey, Head - Retail Equity Research, ICICI Securities
 
Anand Rathi, Chairman, Anand Rathi Financial Services
 
 

Expert Views

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Budget allocation is enough for food security programme rollout: K V Thomas

Interview with Food minister, India...

Optimistic Budget jars with revenue reality

India's sputtering economy must accelerate to roughly 6.5 to 7% growth from the current fiscal's expected 5%...

Budget Reactions

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Hype, hope and hubris

The Budget's fuzzy maths and poor-quality fiscal correction will compromise the much-needed macro recalibration...

Rlys needs more steam for cargo edge

Rise in freight rates, fuel adjustment component create new problems in presenting an advantage over road transportation...

Budget & Sectors


Budget & Finance

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Public sector banks to get Rs 11,200 cr in FY15

State lenders must retain a significant portion of profits for capital, also raise it from market: FM...

Govt-owned insurers opened 3,101 offices in rural and semi-urban areas: FM

Companies such as the New India Assurance are looking to have 1,000 micro offices by the end of this year...

Budget & Auto

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Tata Motors, General Motors India to reduce vehicle prices

Both firms to pass on benefit of excise cut in Interim Budget to consumer...

Duty cut on cars, 2-wheelers to boost engg goods export: EEPC

Govt has proposed to cut duty on SUVs from 30% to 24%, and in large and mid-segment cars from 27-24% to 24-20%...

Economic Survey

Fiscal consolidation key to revive growth

The prescription from a team of advisers led by Chief Economic AdviserRaghuram Rajanwas to fix domestic economic problems...

Mixed signals on industrial production: Economic Survey

IIP recovered in Oct 2012 showing 8.3% growth, however entered into negative zone in subsequent months

There is room for further rate cuts by RBI: Economic Survey

Inflationary pressures may make reduction in policy rates counterproductive

Railway Budget

Rlys skips reforms signal

Freight rate raised 6%, basic fares left untouched, but reservation and cancellation charges hiked

Freight rate gets a fuel link

Railway Minister Pawan Kumar Bansal today proposed to link freight charges to fuel prices, effective April 1, which will lead to an average rise of 5.8 per cent in freight rates.

Cancellation, reservation & tatkal charges up

These should fetch the railways an extra Rs 881 crore in 2013-14

BS Poll

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