Highlight of UPA government 2009 budget are as follows.
- Target 9% growth
- Commodities transaction tax to be scrapped
- 10% surcharge on personal income scrapped
- Fringe Benifit Tax (FBT) to be scrapped
- IT exemption for woman hiked Rs.190,000
- IT exemption for senior citizen hiked Rs.240,000
- Rs 12000 crores earmarked for expenditure on rural road 2009-10
- Drug related to heart disease cheaper
- Service tax to be applicaable on law firms
- Bio diesel custom duty lowerd
- Custom duty on import of gold and silver increased
- Bio diesel custom duty lowerd
- Branded woman jwellery to be cheaper
- Rs 16300 crores to be set aside for upcoming common wealth games.
- IIT and NIT to get Rs 2113 cr more.
- Corporate tax unchanged
- one rank pension scheme to be establish for ex-service man
- National ganga project allocation up to go to 562 crores
- UID project under Mr.Nandan M nilkani to be out in 12 - 18 months
- NRHM to be raised by Rs.257 crores
- A national level action plan for climate change
- National employment exchange to be mordenised
- Interest subsidy for home loan up to 1 Lakh
- Indira awas yojana blosterd up by 63% to Rs8883 cr
- Saral 2 forms to simply tax filling process
- Emphasis on fertilizer subsidy reaching out directly to farmers
- Petroleum expert panel to set petroleun prices which would be in sink with global level.
- Rashtriya krishi vikas yojana allocation increased by 30%
- IIFCL, a new company will look in to infrastructure needs.
- Extension of farm loan wavier scheme by 6 months
- Allocation of National Highway authority of india increased by 23%
- Fiscal stimulus at 3.5%pf the GDP
- Small scale business to be exempted from advance tax.
- 50% reduction in the custom duty of LCD panels
- Set top box to be costlier
- Goods and service Tax (GST) to be in effet from,April 2010
- Textile unitto be enjoy continued tax holiday
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