2. The budget for something is
the amount of money that a
person or country has
available to spend on it.
3. Tax Increases Tax Deduction
Cell phone
Cigarette
Set up box
Import luxury car
(100%)
Production luxury car
(30%)
Hand craft product
Foot ware machine
Electrical car
Import of oats (30% -
15%)
Diamond toll tax
10%(-) 2%=8%
TAX
18,000crores tax in 2013-2014
4. INCOME TAX
Person
2,00,000NO TAX
2,00,000 TO 5,00,000 10%
5,00,001 to 10,00,000 20%
10,00,001 to 1Crore 30%
Above 1Crore 30% + 10%
Above 60
2,50,000NO TAX
2,50,000 to 5,00,000 10%
5,00,001 to 10,00,000 20%
1000001 to 1Crore 30%
Above 1Crore 30% + 10%
Above 80
5,00,000NO TAX
5,00,001 to 10,00,000 20%
10,00,001 to 1Crore 30%
1Crore 30% + 10%
5. women
200cr for Women Welfare
1,000cr for women banking sector
Medical
Development of Medical department 1,069cr
Medical research and education 4,727cr
110cr Disabled people useful
(Amount in rupees)
6. Measure: Additional interest rate deduction on low ticket housing loans for first
time home buyers
Impact: NRIs who are first time home buyers in India may benefit from this proposal
if they have significant income in India. According to the proposal, a person taking a
loan for his first home from a bank or a housing finance corporation up to Rs25 lakh
during the period 2013-14, will be entitled to an additional deduction of interest of up
to Rs100,000. If the limit is not exhausted in 2013-14, the balance may be claimed in
2014-15. This deduction will be over and above the deduction of Rs1.5 lakh that is
currently allowed for home loans. NRIs
Housing loan
7. Measure: Substantial increase in limit for duty
free gold import
Impact: The Finance Minister raised the duty free
limit of bringing gold into the country to Rs50,000 for
a male passenger and Rs1 lakh for a female
passenger. The earlier limits were Rs10,000 and
Rs20,000 respectively.
GOLD
8. Employment
80,194cr for encourage rural area
7,500cr for tuticorin harbor
33,000cr employment opportunity
High ways
Bangalore to Mumbai
(Amount in rupees)