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BUDGET 2008

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Key Features of Budget 2008-2009

The Gross Domestic Product increased by 7.5%, 9.4% and 9.6% in first 3 years, of the UPA Government resulting in an unprecedented average growth rate of 8.8%.

The drivers of growth continue to be

'services' and ‘manufacturing’ which are estimated to grow at 10.7% and 9.4% respectively.

Growth rate in agriculture for 2007-08 is estimated at 2.6%.

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Food grain production in 2007-08, estimated at 219.32 million tones-an all time record. Rice production at 94.08 million tones, maize at 16.78 million tones, Soya bean at 9.45 million tones, cotton at 23.38 million bales each, an all time record.

Rashtriya Krishi Vikas Yojana launched with an outlay of Rs. 25,000 crore, National Food Security Mission with an outlay of Rs. 4,882 crore under National Policy for Farmers in the Eleventh Five Year Plan.

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THE GROWTH STORY

Agricultural credit poised to reach Rs. 2,40,000 crore by March, 2008.

11.4 crore children covered under Mid Day Meal Scheme, the largest School Lunch programme in the world.

Under National Rural Health Mission 8,756 primary health centre's have been made 24x7

1,82,000 girls enrolled in residential schools under Kasturba Gandhi Balika Vidyalaya Scheme.

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CORPORATE AND BUSINESS

POSITIVE 20% INCREASE IN THE TUF PACKAGE FR

TEXTILE INDUSTRIES.

REDUCTION IN THE AUTOMOBILES

NOMINAL GROWTH FOR HOTEL & HOSPITL INDUSTRIES

NEGATIVE NO SCOPE FOR SMALL SCALE INDUSTRIES

NO REDUCTION IN THE CORPORATE TAX AND SURCHARGE.

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FERTILIZERS

POSITIVE ZERO % INTEREST LOAN FOR

FARMERS.

RELIEF IN THE DEBTS.

LOAN FASCILITY AVAILAIBLE IN GOVERNMENT AND CORPORATIVE BANKS.

NEGATIVE NO PROVISION FOR SMALL FARMERS

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PHARMA LINE

Growth of hospitals

Allocation for National Rural Health Mission increased by 15% Rs. 12,050 crores to strengthen health services in rural area

Excise duty on the pharma products to be reduced to 14%

The excise duties on anti-AIDS drugs to be lowered

Rs. 1,042 crores to be allocated for anti-Polio drive

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YOUTHAUTOMOBILES

ENTERTAINMENT

PROMOTION OF IIT’S

SPORTS GEARS

NON-FILTERED CIGARETTES

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CA ANALYSIS

• The growth rate of the economy has been 8.8%

• Service sector is the key player and expected to grow at 10.7 %

• Tax exemption limit increased from Rs. 1,10,000 to Rs. 1,50,000

• Tax exemption limit for women increased from Rs. 1,45,000 to 1,80,000

• Tax rate for the income bracket Rs. 1,50,000 to 3,00,000 to be 10%

• Tax rate for the income bracket Rs. 3,00,000 to Rs. 5,00,000 to be 20%

• Income above Rs. 5,00,000 to be taxed at 30%

• Exemption limit for the senior citizens to be increased from Rs. 1,95,000 to 2,25,000

• Excise duty on small cars to be 14%

• Excised duty reduced to 8% on water purification devices

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EK AAM RAI…………….!POSITIVE NEGATIVEEDUCATION SECTOR HOUSEHOLD GOODS

HOSPITALITY & HEALTHCARE PETROL

TAX EXEMPTION SHARES AND STOCKS

AUTOMOBILES WHY NOT FILTERED CIGARETTE.

SHOPPING

ENTERTAINMENT

BAS THEEK THAAK HAI…………….!

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It’s a Budget that has been crafted with an eye on the upcoming general elections.

NOTE HAI TO VOTE HAI………!