Union Budget

Overview of the sum total figure 2012-13 Contents 1 2 3 4 5 6 7 tune-up Key indemnity announcements fiscal and economic review Snapshots of task revenue proposals Direct tax proposals Indirect tax proposals use up across us © Grant Thornton India LLP. All rights reserved. Overview of the Union Budget 2012-13 2 Foreword Foreword Key policy announcements Despite the crisis in Euro zone, sulky recovery in the United States, political dissymmetry 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 restoration may not be sustainable in the farseeing 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 2012-13 a nd expressing its intentions to admit 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 bailable for Viability Gap Funding under PPP scheme and different 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. mend most of the amendments were anticipated such as tinkering of personal tax rates, small exemptions for the middle income group and incre ase the net of armed service tax and taking! the rate up, the finely print has wider ramifications. ex post facto amendments to address Vodafone like situations, bringing domestic related society transactions under the ambit of permute pricing be a case in point. Measures proclaimed to boost infrastructure, agriculture, melody and power industries is very heartening. Pallavi J Bakhru helper & Practice...If you want to get a full essay, order it on our website: OrderEssay.net

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