is there any increase in the exsumption of income tax to the pwd
On 16/03/2012, sweety.bhalla wrote:
> Following are the highlights of Budget 2012:
>
> · GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13
>
> Union Budget 2012: Highlights
>
> · Amendment to the FRBM Act proposed as part of Finance Bill. New concepts
> of "Effective Revenue Deficit" and "Medium Term Expenditure Framework"
> introduced
>
>
> · Central subsidies to be kept under 2 per cent of GDP; to be further
> brought down to 1.75 per cent of GDP over the next 3 years.
>
> · Proposed: Mobile based fertilizer management system; LPG transparency
> portal; scaling up and rolling out of Aadhar enabled payment for government
> schemes
> in at least 50 districts.
>
> · Rs. 30,000 crore to be raised through disinvestment
>
> · Efforts to reach broadbased consensus on FDI in multi-brand retail
>
> · Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to retail
> investors on investing in equities
>
> · Rs. 15,888 crore to be provided for capitalization of public sector banks
> and financial institutions
>
> · A central "Know Your Customer" depository to be developed
>
> · Swabhimaan: remaining habitations to be covered; to be extended to more
> habitations; ultra small branches to be set up in Swabhimaan habitations
>
> · Investment in 12th Plan in infrastructure to go uptoRs. 50,00,000 crore;
> half of this is expected from private sector
>
> · Tax Free Bonds of Rs. 60,000 crore to be allowed for financial
> infrastructure projects
>
> · Allocation of Road Transport and Highways Ministry enhanced by 14 per cent
> to Rs. 25,360 crore
>
> · Financial package of Rs. 3,884 crore for waiver of
> loans
> to handloom weavers and their cooperative societies; mega handloom clusters
> in Andhra, Jharkhand; weaver service centres in Mizoram, Nagaland and
> Jharkhand
> ; powerloom mega cluster in Maharashtra; Rs. 500 crore pilot schemes for
> geo-textiles in North-Eastern region
>
> · Rs. 5,000 crore India Opportunities Venture Fund to help small enterprises
>
> · Allocation to agriculture enhanced; RKVY gets Rs. 9,217 crore; BGREI gets
> Rs. 1,000 crore; Rs.2242 crore project to improve dairy productivity; Rs.
> 500
> crore for coastal aquaculture
>
> · Various other agricultural activities merged into 5 missions
>
> · Target for agricultural credit raised to Rs. 5,75,000 crore
>
> · Interest subvention for short-term crop loans to farmers at 7 per cent
> interest continues; additional 3 per cent for prompt paying farmers
>
> · Rs. 200 crore for awards to incentivise agricultural research
>
> · Provisions under rural housing fund increased to Rs. 4,000 crore from Rs.
> 3,000 crore
>
> · Interest subvention of 1 percent on housing loans uptoRs. 15 lakh extended
> for one more year
>
> · AIBP allocation raised by 13 per cent to Rs. 14,242 crore
>
> · National Mission on Food Processing to be started in cooperation with
> State Governments
>
> · Scheduled Caste Sub Plan allocation increases by 18 per cent to Rs. 37,113
> crore; Tribal Sub Plan by 17.6 per cent to Rs. 21,710 crore
>
> · Multi-sectoralprogramme to address maternal and child malnutrition in 200
> high burden districts
>
> · 58 per cent rise in allocation to ICDS, at Rs. 15,850 crore
>
> · Rural drinking water and sanitation gets 27 per cent rise in allocation to
> Rs. 14,000 crore; PMGSY gets 20 per cent rise to Rs. 24,000 crore
>
> · Projects covering length of 8800 km to be awarded under NHDP against 7,300
> km during 2011-12
>
> · RTE-SSA gets Rs. 25,555 crore allocation, showing an increase of 21 per
> cent; 6000 schools to be set up at block level as model schools in the 12th
> Plan;
> Credit Guarantee Fund to be set up for better flow of credit to students
>
> · National Urban Health Mission is being launched
>
> · 34 per cent increase in allocation to National Rural Livelihood Mission,
> to Rs. 3915 crore
>
> · Rs. 1000 crore allocated for National Skill Development Fund
>
> · Bharat Livelihood Foundation to be established to support livelihood
> interventions particularly in tribal areas
>
> · Widow pension and disability pension raised from Rs. 200 to Rs. 300 per
> month
>
> · Grant on death of primary breadwinner of a BPL family in the age group
> 18-64 years doubled to Rs. 20,000
>
> · Defence services get Rs. 193407 crore; any further requirement to be met
>
> · 4000 residential quarters to be constructed for Central Armed Police
> Forces
>
> · UID-Aadhar to get adequate funds for enrolment of 40 crore persons, in
> addition to the 20 crore persons already enrolled
>
> · White Paper on Black Money to be laid in the current session of Parliament
>
> · Tax proposals mark progress in the direction of movement towards DTC and
> GST
>
> · Income tax exemption limit raised from Rs.1,80,000 to Rs.2,00,000; upper
> limit of 20 per cent tax slab raised from Rs.8 lakh to Rs.10 lakh
>
> · Interest from savings bank accounts deductible upto Rs.10,000; deduction
> of up
