Budget 2010 analysis and discussion

[Sonia]

Budget 2010 is live now. Finance Minister Pranab Mukherjee has done a decent job this time. Major highlights are as follows:

Petrol price hike by Rs 2.67/litre:NW
Diesel price hike by Rs 2.58/Litre: NW
Govt's push for infra development to boost GDP growth
NMDC, SJVN stake sale to fetch Rs 25000 cr in FY'10
Expect govt to push for disinvestment
FM has kept the impetus on disinvestment
Fiscal expansion was not sustainable for long
Limit for tax credit increased from Rs. 40 to Rs. 60 lks
Reduction in surcharge on domestic cos from 10% to 7.5%
Commitment to rollout DTC
Lower tax burdens on individuals
To give Rs.16500 cr to PSU banks in FY'11
Govt to keep service tax unchanged at 10%
To raise duty on gold imports to Rs 300/10 grams
To raise duty on gold and silver imports
To grant project import status for HITS
To grant project import status for monorails
Excise duty on CFL halved to 4%
Imposed 4% excise duty on electric cars
To waive excise duty on photovoltaic panels
To restore 7.5% duty on petrol and diesel
To restore 5% duty on crude petroleum
Rollback in excise duty to 10%

[jitendragarg]

Budget 2010 is live now. Finance Minister Pranab Mukherjee has done a decent job this time. Major highlights are as follows:

Petrol price hike by Rs 2.67/litre:NW
Diesel price hike by Rs 2.58/Litre: NW
Govt's push for infra development to boost GDP growth
NMDC, SJVN stake sale to fetch Rs 25000 cr in FY'10
Expect govt to push for disinvestment
FM has kept the impetus on disinvestment
Fiscal expansion was not sustainable for long
Limit for tax credit increased from Rs. 40 to Rs. 60 lks
Reduction in surcharge on domestic cos from 10% to 7.5%
Commitment to rollout DTC
Lower tax burdens on individuals
To give Rs.16500 cr to PSU banks in FY'11
Govt to keep service tax unchanged at 10%
To raise duty on gold imports to Rs 300/10 grams
To raise duty on gold and silver imports
To grant project import status for HITS
To grant project import status for monorails
Excise duty on CFL halved to 4%
Imposed 4% excise duty on electric cars
To waive excise duty on photovoltaic panels
To restore 7.5% duty on petrol and diesel
To restore 5% duty on crude petroleum
Rollback in excise duty to 10%

Excise duty on electric cars, are you sure?? And that too when petrol prices are already on all-time high. Shouldn't they subsidise the green vehicles, instead of making them costlier??:think:

[abhishek]

How this budget impact the IT software sector in India? Any ideas..

[jitendragarg]

How this budget impact the IT software sector in India? Any ideas..

Dude, only good thing for us, is that we will have to pay less taxes this year, although petrol price hike will make it up for that. So, in the end, we will still be screwed. :( :bang-head:

[abhishek]

Dude, only good thing for us, is that we will have to pay less taxes this year, although petrol price hike will make it up for that. So, in the end, we will still be screwed. :( :bang-head:

You are right... recession kar karan IT wale salary nahi bara rahe hai.. aur government alag band bajane mein lagi hai.. :bang-head:

[vivek]

hmmmm... no wonder....

[ajaypathak]

this budget does not have anything for bloggers and freelancers.?
RBI keep blocking their money and paypal is not interested to work in India.
There is nothing about 3G and NPS.