Personal income tax exemption limit for individual tax payers raised
to Rs 1.8 lakh from Rs 1.6 lakh.
Tax exemption limit for senior citizens increased to Rs 2.5 lakh from
Rs 2.4 lakh and eligibile age for senior citizens reduced to 60 years
against 65 years.
Tax exemption limit for senior citizens over 80 years at Rs 5 lakh.
No new tax exemption limits for women.
SEZ to come under MAT. Minimum alternative tax raised to 18.5% vs 18%.
FY11 Fiscal deficit at 5.1%, revenue deficit at 3.4%
FY12 Divestment target at Rs 40,000 crore.
FY11 fiscal deficit at 5.1%, FY12 deficit seen at 4.6%, FY13 fiscal
deficit at 4.3%.
Structural concerns on inflation management to be addressed by
improving supply response of agriculture to the expanding domestic
demand and through stronger fiscal consolidation.
Implementation gaps, leakages from public programmes and the quality
of outcomes pose a serious challenge.
Gross Domestic Product (GDP) estimated to have grown at 8.6 per cent
in 2010-11 in real terms. Economy has shown remarkable resilience.
Monetary policy measures taken expected to further moderate inflation
in coming months.
DTC to come in force from April 2012.
Preparations for GST rollout in final stages, bill in current session.
FDI regulations consolidated into one comprehensive document
FII allowed to invest in MF schemes
FII limit in corporate bonds has been raised by $20 billion
Govt commited to retain 51% holding in PSUs
New companies bill to be introduced in this session
Short term interest to farmers will continue to be at 7%.
Agricultural credit limit raised to Rs 4,75,000 crore
Metro projects in key cities will get financial aid
Zoher Doctor / Smart Money Inc
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