Union budget: 2012-13
BUDGET DOCUMENTS
- Key to Budget Documents
- Budget Highlights (Key Features)
- Budget Speech
- Budget at a Glance
- Annual Financial Statement
- Finance Bill
- Memorandum
- Receipt Budget
- Expenditure Budget
- Customs & Central Excise
- The Macro Economic Framework Statement
- The Medium Term Fiscal Policy Statement
- The Fiscal Policy Strategy Statement
- Statement of Revenue Foregone
- Implementation of Budget Announcements
DETAILED BUDGET HIGHLIGHTS
SECTORS
- Mutual fund industry welcome reduction in STT
- PSUs in divestment mode allowed buy-backs, stock exchange listings
- Union Budget 2012-13: hard days ahead for car makers
- Rs3,884-crore package for waiver of handloom loans
- Major boost for health and nutrition
- ECB for working capital for aviation; 49 % foreign equity under consideration
- ECBS to part finance power project debt
- ECB allowed for low cost housing
- Government to undertakes financial sector legislative reforms
- Manufacturing to get relief in customs duty
REACTIONS
- Nothing much for the housing sector, Pranab Datta, vice chairman and managing director, Knight Frank India
- Life insurance to turn costlier, V Srinivasan, chief financial officer, Bharti AXA Life Insurance
- Budget presents new opportunities for general, health insurers, KG Krishnamoorthy Rao, MD & CEO, Future Generali India Insurance Co Ltd
- Impact on markets to be neutral, Hemant Kanawala, head of equties, Kotak Mahindra Old Mutual Life Insurance
- Budget to help telecom development in rural areas
- Does not address apparel sector's concerns, Dr. A Sakthivel, chairman AEPC
- Budget a positive to the power sector, Rajiv Agarwal, MD, Essar Ports Limited
- Realistic and balanced, Gautam Singhania, chairman and MD, Raymond Ltd
- A boost for affordable housing, Rohit Inamdar, Sr V P, corp securities ratings, ICRA Ltd
- Budget a blessing to the power sector, Hemal Zobalia, partner, KPMG India
- Budget 2012-13 does not address critical issues of the telecom industry: COAI
- No major negatives, Rajat Jain, CIO, Principal Mutual Fund
- Sanjay Sachdev - president and CEO, Tata Asset Management
- Murthy Nagarajan, head � fixed income, Tata Asset Management Ltd
- Disappointing budget, Lalit Kumar Jain, president CREDAI
COMMENT
- Quite a balanced Budget
- High deficit to continue in FY 13 due to uncertainty over policy implementation despite reforms: S&P
- Diesel car makers spared, for now
- A practical and inclusive budget for the next fiscal
- Ambiguity on taxability of cross-border M&A transaction being laid to rest
- Subsidy cap plan positive, tax reform lags: Fitch
- Exceeds expectations for real estate sector
SPECIAL REPORTS
- Will deferring GAAR bring back FIIs?
- GAAR deferred; excise duty on gold jewellery withdrawn
- Govt seeking deal with Vodafone over tax claim: report
- Tax proposals clarificatory not substantive Mukherjee to Geithner
- Another global body inveighs against retrospective tax move
- Jewellers end stir as government agrees to roll back duty impost
- Change in Indian tax laws will hit FDI, warns global industry
- First part of budget approved
- Government to review excise duty on jewellery, import duty on gold to stay
- No service tax on taxi, metro and second-class rail travel
- Bullion traders down shutters to protest duty hike
- Natgrid gets Budget boost, but not a word on NCTC
- Government committed to FDI in multi-brand retail trade: Mukherjee
- New equity savings scheme has investors agog
- FMCG industry disappointed with excise duty hike
- Budget boost for railway finances; double whammy for a/c travellers
- Divestment target lowered to Rs30,000 cr for 2012-13
- Pranab hopes to raise Rs40,000 cr via spectrum resale
- Bent on taxing Vodafone, govt to change laws
- Airlines can now borrow up to $1 bn from abroad
- Gold spurts in India after Pranab doubles import duty
- Carmakers to pass on excise duty burden to customers
- Mukherjee's investor-friendly measures fail to cheer markets
- Corporates allowed to tap lower-cost funds
- Service tax net widened; indirect taxes up
- Rs5,000 crore India Opportunities Venture Fund for MSMEs
- Weighted deduction for expenditure in R&D and agri-extension services proposed
- Gross tax revenue seen rising to Rs10, 77,612 crore in FY'13
- Peak rate of customs duty of 10 per cent to stay
- Budget 2012-13: Pushing infrastructure to pull industry
- Disinvestment target at Rs30,000 crore
- Rs15,888 crore provided for recapitalistion of public banks in Budget 2012-13
- Companies can access cheaper foreign funds
- Measures proposed to curb black money
- Dip in tax revenue, increased subsidies hit fiscal balance
- Aadhar roll out in six months; ineffective subsidies to be revisited
- Budget 2012-13 aims to ease subsidy burden
- Budget 2012-13: Nano relief for the salaried with Rs2 lakh I-T exemption limit
PRE-BUDGET REPORTS
- Car sales rev up in February as Budget looms
- PM sanguine as budget session begins
- Assocham seeks extended tax holiday for oil and gas exploration industry
- Budget 2012: Impact on reforms post poll results
- Budget: "Rope in private sector to bring back growth'
- Customs duty levy on power equipment may figure in budget proposals
- Engineering exporters seek budget backing for technology upgradation
- Budget outlay on public health to go up to 2.5 per cent of GDP
- Budget 2012: government mulls hiking excise rate to 12%
- Budget will see more service taxes; states' domain to be spared
- India Inc asks finance ministry to retain tax rates at current levels