 |
|
The finance minister has peppered his 8th Budget with some measures to please all sections of the society. Though the primary worry of the FM was to keep the Fiscal Deficit under 5 per cent during 2013-14, he has allocated good amount of money on developmental projects. Below we have presented some of the major measures mentioned in the Budget vis-à-vis major sectors, where project investment on large scale is awaiting to be implemented.
|
|
|
INFRASTRUCTURE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
Tax holiday for power plants under section 80-IA of the Income-tax Act extended to March 2014
|
|
|
|
Rs 226 crore provided for Power transmission system from Srinagar to Leh |
|
|
|
Rs 800 crore proposed to the Ministry of Non Renewable Energy for re-introducing the Generation based incentives for wind energy projects
|
|
|
|
Low cost finance provided for viable renewable energy projects |
|
|
|
Duties on steam coal and bituminous coal, both of which are used in thermal power stations, have been equalized and now a 2 per cent customs duty and 2 per cent countervailing duty (CVD) is to be levied on both kinds of coal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Urban Housing fund to be set up by National Housing Bank, Rs 2,000 crore proposed for the fund
|
|
|
|
Housing loans up to Rs 25,00,000 during the period 1.4.2013 to 31.3.2014 to be entitled to an additional deduction of interest up to Rs 1,00,000
|
|
|
|
Rural housing to get Rs 6,000 crore
|
|
|
|
One per cent TDS on the value of the transfer of immovable property where the consideration exceeds Rs 50 lakh |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rs 96 crore in 2013-14 for Ministry of Textiles for Interest Subvention
|
|
|
|
Technology Upgradation Fund Scheme (TUFS) for textile with an investment target of Rs 1,51,000 crore in the 12th Five Year Plan. Rs 2,400 crore proposed for 2013-14 for textile technology upgradation
|
|
|
|
Duty on specified machinery for manufacture of leather and leather goods reduced from 7.5 per cent to 5 per cent
|
|
|
|
Zero excise duty route' for cotton and spun yarn sector at the yarn, fabric and garment stages in addition to the already available CENVAT route
|
|
|
|
Zero duty for cotton at fibre stage |
|
|
|
Working capital and term loans at a concessional interest of 6 per cent for the Handloom sector |
|
|
|
Proposal to set up Apparel Parks within Scheme for Integrated Textile Parks (SITPs) to house apparel manufacturing units
|
|
|
|
Allocation of Rs 50 crore to the Ministry of Textiles for providing an additional grant of up to Rs 10 crore to each Integrated Textile Park |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A PPP policy framework with Coal India in the pipeline to increase the production of coal for supply to power producers and other consumers.
|
|
|
|
Adoption of a pooled pricing policy for coal |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hike in import duty on luxury cars from 75 per cent to 100 per cent
|
|
|
|
Custom duty on imported motor vehicles hiked |
|
|
|
Concession period extended for specified parts of electric and hybrid vehicles up to 31.3.2015 to encourage manufacture of environment-friendly vehicles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Natural Gas pricing policy to be reviewed
|
|
|
|
On oil and gas exploration policy, the Budget proposes to move from the present profit sharing mechanism to a revenue sharing contracts
|
|
|
|
A policy to encourage exploration and production of shale gas will be announced
|
|
|
|
NELP blocks that were awarded but are stalled will be cleared |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15 per cent investment allowance to a manufacturing company that invests more than Rs 100 crore in plant and machinery during the period 1.4.2013 to 31.3.2015
|
|
|
|
15 per cent of concessional rate of tax on dividend received by an Indian company from its foreign subsidiary to be continued for one more year
|
|
|
|
Step taken for rolling out GST by setting apart a sum of Rs 9,000 crore towards the first installment of the balance of CST compensation
|
|
|
|
Certain concessions extended to the aircraft manufacture, repair and overhaul industry, which is referred to as the MRO industry
|
|
|
|
Provision of appropriate incentives to semiconductor wafer fab manufacturing facilities, including zero customs duty for plant and machinery
|
|
|
|
|
|
|
|
|
|
Quotes of the week:
|
 |
|
" It is a very very disappointing Budget. There was nothing for the healthcare sector. Today, people in India have to buy healthcare like they buy food or power. What the government could have done is to at least reduce the cost of healthcare. But though every other sector got something in the Budget, there was absolutely no support to healthcare."
Devi Shetty, Founder, Narayana Hrudayalaya |
|
|
|
|
"We welcome the finance minister’s decision to set new parameters for according special status to Bihar. The centre has agreed to continue giving assistance through the Backward Regions Grant Fund. Allocation for the second green revolution in the east has been increased. But it is not enough."
Nitish Kumar, CM, Bihar |
|
 |
|
"Overall, it is a responsible Budget. The imperative, however, is timely implementation of all proposals."
Vinita Bali, MD & CEO, Britannia Industries |
|
|
|
|
|
|
|
|
|
|
|