Union Budget

Overview of the sum total compute 2012-13 Contents 1 2 3 4 5 6 7 warm-up Key indemnity announcements financial and economic review Snapshots of evaluate revenue proposals Direct evaluate proposals Indirect tax proposals extend to us © Grant Thornton India LLP. All rights reserved. Overview of the Union Bud thwart 2012-13 2 Foreword Foreword Key policy announcements Despite the crisis in Euro zone, sulky recovery in the United States, political imbalance in the Middle East and subsequent rise in new oil prices, the resilience of Indias home(prenominal) economy is in one case again evident with this years gross domestic product harvest-feast estimate of over 6.5%. However, this consumption-driven matter may not be sustainable in the unyielding run unless it is accompanied with an investment-driven growth. Against this backdrop, growth and stability remained central to the Budget this year. By setting the financial deficit target of 5.1% for 201 2-13 and expressing its intentions to asseverate central subsidies chthonic 2% of GDP in 2012-13, and foster bring them down to 1.75% of GDP in the next 3 years, the government has steered clear of democrat measures.

The Budget endeavours to shore up investment in base with proposals to make more than sectors suitable for Viability Gap Funding under PPP scheme and other measures including tax free bonds of Rs 60,000 crore for financing infrastructure projects in 2012-13 alone. Fiscal and economic review The Budget seemed more benign than it is. firearm most of the amendments were anticipated such as tinkering of personal tax ra tes, small exemptions for the middle income ! group and increase the net of armed service tax and taking the rate up, the finely print has wider ramifications. retroactive amendments to address Vodafone like situations, bringing domestic related caller transactions under the ambit of permute pricing ar a case in point. Measures proclaimed to boost infrastructure, agriculture, zephyr and power industries is very heartening. Pallavi J Bakhru helper & Practice...If you want to get a full essay, order it on our website: BestEssayCheap.com

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