Budget 2011 Highlights Major changes In budget 2011

1. Exemption limit for general tax payers raised to Rs 1,80,000: FM(CHECK details here
2. Sr citizen=250000(age 60 years)(CHECK details here)
3. Super citizen :(80years) 500000(CHECK details here)
4. Female : old limit of 190000 remain same (CHECK details here)
5. Corporate tax surcharge reduced from 7.5% to 5%. Minimum alternate tax rate up from 18% to 18.5%.
6. No change in excise duty and service tax rates
7. Budget headlines: Taking steps to simplify tax and tariff procedures
8. Budget headlines: Current account deficit poses some concern
9. Budget headlines: Discussion on to further liberalize FDI policy
10. Budget headlines: Divestment target at Rs 40,000 crore
11. Budget headlines: Actively considering new fertilizer ploicy for urea
12. Budget Headlines: GST rollout preparation in final stages, will be tabled in the current session
13. Budget headlines:To create 100 crore equity fund for microfinance companies
14. Budget Headlines: Infra sector FII cap for bonds with 5 year residual maturity
15. Budget headlines: Upped priority home loan limit to Rs 25 lakh from Rs 20 lakh
16. Interest subvention on housing loans extended by one year: FM
17. Propose to give Rs 3000cr to NABARD: FM
18. Budget headlines:1% interest subvention on home loans upto Rs 15 lakh
19. Finance minister Pranab Mukherjee announced RBI will issue guidelines for new banking licences this fiscal. The economic survey for 2010-11 suggested two types of licences for companies expecting a banking licence.  
20. FII can invest directly in MF schemes, market positive: Arjun Parthasarathy
21. Private investment in agro processing should increase: FM
22. Propose tax free bonds of Rs. 30,000 for enhancement of infra sector : FM
23. Cap infusion of Rs 20,157cr in PSU banks in FY12: FM
24. Budget headlines: To set up national mission for hybrid, electric vehicles
25. Allocation of Rs 52,057cr for education sector, increase of 24%: FM
26. To index NREGA wage rates to inflation: FM
27. To set up national mission for hybrid, electric vehicles: FM
28. Budget headlines: To give infra status to cold storage chains
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