Union Budget Highlights 2011-12

On Friday, March 16, 2012 | 11:40 AM

GDP expected to grow at 7.6% in 2012-13
Centeral subsidy to be less than 2 % of GDP
Current account deficit to be 3.6 %
10 Yer benchmark yield at 8.43 %
Implementation of Direct Tax Code is deferred
Drafting of model Goods & Services Tax legislation is underway and is expected by August 2012
GST likely to be operational by August 2012
Introduction of amnesty scheme for black money
New tax exemption for retail investment with lock-in Period Rajiv Gandhi equity scheme deduction of 50% of Investment in equities for Income up to 10 Lakh Rs
To introduce new law for microfinance cos
Subsidy for Food Security to be fully provided
FY13 divestment target at Rs 30,000 crore.
6,000 schools proposed to be set up in 12th year plan
Income Tax exemption limit increased to 200000
20 % limit increased to 10 laks from 8 lakhs
Service tax ,Excise Duty Increased by 2 % across the broad

KNOW UR