Today, 26th February, 2010 Pranab Mukharjee introduced Union budget 2010-2011 that was nothing but collections of data. He just figured out the area in which he has to invest some capital.
You can see it as:
Vision:
GDP Growth to be targeted at 9%
Target of Rs 25,000 crore disinvestment
Inflation Rate to be lowered in 2 Months
Banking:
Additional Banking License to Private Banks
Rs 1,200 crore to be allocated to PSU Banks
Banks for all villages with a population of 2,000
Infrastructure:
Rs. 1.37 lakh crore for Infrastructure development
Railways to be allocated Rs 16,772 crore
Road Development allocation Rs. 19,894 crore
NREGA Allocation at Rs 40,100 crore
Bharat Nirman Yojna – Rs 48,000 crore
Goa – Rs 200 crore special package
Education:
Rs 31,036 crore for School Education
Sarva Sikha Abhiyaan – Rs 36,000 crore
Housing:
Indira Awas Yojna to Rs 10,000 crore
Rs 61,000 crore for rural Development
Social Sector:
Farmer Fund for Women – Rs 100 crore
National Health Insurance Scheme for NREGA Workers
Technology:
Rs 19000 crore for Unique ID Project
Rupee to have new Symbol
Expenditure:
15% rise in plan expenditure
Defence – Rs 147,344 crore
Taxation:
Income up to Rs. 1.6 lakh – no tax
Income from Rs. 1.6 lakh – Rs 5 lakh – 10% tax
Income from Rs 5 lakh – 8 lah – 20% tax
Income of above Rs 8 lakh – 30% tax
Corporate Surcharge reduced from 10% to 7.5%
Minimum Alternative Tax increased to 18% from 15%
Excise Duty hiked from 8% to 10%
Service Tax remained at 12% for Goods
No Service Tax on News Agencies
Petrol, Diesel Prices to go up
It was overall data which introduced by Pranab Mukharjee in parliament for 2010-2011 union budget. We already have seen last year union budget 2009-10. Now, common people are suffered from the raise in prices but there is no data in this budget how to control it.
Unemployment and recession is the biggest problem for common people but there is no data how to control it. Is it common man budget? I don’t think because today prices of petrol and diesel hiked near about Rs 3.
On the one hand, accumulation of capital is getting gathers but on the other hand, common people are getting poorer. In the system of profit, there is no way to win over recession. Therefore, now there is only way – production and means of production go in social hands.
You can see it as:
Vision:
GDP Growth to be targeted at 9%
Target of Rs 25,000 crore disinvestment
Inflation Rate to be lowered in 2 Months
Banking:
Additional Banking License to Private Banks
Rs 1,200 crore to be allocated to PSU Banks
Banks for all villages with a population of 2,000
Infrastructure:
Rs. 1.37 lakh crore for Infrastructure development
Railways to be allocated Rs 16,772 crore
Road Development allocation Rs. 19,894 crore
NREGA Allocation at Rs 40,100 crore
Bharat Nirman Yojna – Rs 48,000 crore
Goa – Rs 200 crore special package
Education:
Rs 31,036 crore for School Education
Sarva Sikha Abhiyaan – Rs 36,000 crore
Housing:
Indira Awas Yojna to Rs 10,000 crore
Rs 61,000 crore for rural Development
Social Sector:
Farmer Fund for Women – Rs 100 crore
National Health Insurance Scheme for NREGA Workers
Technology:
Rs 19000 crore for Unique ID Project
Rupee to have new Symbol
Expenditure:
15% rise in plan expenditure
Defence – Rs 147,344 crore
Taxation:
Income up to Rs. 1.6 lakh – no tax
Income from Rs. 1.6 lakh – Rs 5 lakh – 10% tax
Income from Rs 5 lakh – 8 lah – 20% tax
Income of above Rs 8 lakh – 30% tax
Corporate Surcharge reduced from 10% to 7.5%
Minimum Alternative Tax increased to 18% from 15%
Excise Duty hiked from 8% to 10%
Service Tax remained at 12% for Goods
No Service Tax on News Agencies
Petrol, Diesel Prices to go up
It was overall data which introduced by Pranab Mukharjee in parliament for 2010-2011 union budget. We already have seen last year union budget 2009-10. Now, common people are suffered from the raise in prices but there is no data in this budget how to control it.
Unemployment and recession is the biggest problem for common people but there is no data how to control it. Is it common man budget? I don’t think because today prices of petrol and diesel hiked near about Rs 3.
On the one hand, accumulation of capital is getting gathers but on the other hand, common people are getting poorer. In the system of profit, there is no way to win over recession. Therefore, now there is only way – production and means of production go in social hands.
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