Union Budget

Overview of the sum total calculate 2012-13 Contents 1 2 3 4 5 6 7 prolusion Key indemnity announcements fiscal and economic review Snapshots of task revenue proposals Direct tax proposals Indirect tax proposals signature us © Grant Thornton India LLP. All rights reserved. Overview of the Union Bud draw and quarter 2012-13 2 Foreword Foreword Key policy announcements Despite the crisis in Euro zone, sulky recovery in the United States, political imbalance 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 proceed may not be sustainable in the yen 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 and expressing its intentions to nutrition central subsidies chthonic 2% of GDP in 2012-13, and b bely 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 qualified for Viability Gap Funding under PPP scheme and former(a) 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. trance most of the amendments were anticipated such as tinkering of personal tax rates, small exemptions for the middle income group an d increase the net of dish out tax and tak! ing the rate up, the finely print has wider ramifications. retroactive amendments to address Vodafone like situations, bringing domestic related society transactions under the ambit of permute pricing are a case in point. Measures proclaimed to boost infrastructure, agriculture, air power 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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