General Budget ; 2009-10

Union Finance Minister Pranab Mukharjee Presented The General Budget In The Parliament On 6/7/2009.

Highlights Of The Budget;
Fiscal Deficiat Grew From 2.7 % To 6.8 % Of GDP.
Growth Rate In 2008-09 Dipped To 6.7% From Average 9 % Growth In Previous 3 Fiscal Years.
Unique Identification Card To Citizens In 12 To 18 Months; Rs 120 Crore Is Allotted For This Project.
Banks And Insurance Firms To Remain In Public Sector.
New Pension Benefit For 12 Lakh Jawans And Jcos From July.
Defence Gets Rs 1,41,703 Crore; Up By 34%.
1 Lakh Dwelling Units For Para Military Forces Personnel.
Allowance To Para Military Forces At Par With Defence Forces
Modernisation Of National Employment Exchanges.
Creation Of Close To 12 Million Jobs.
Allocation For Highways Being Stepped Up 23%.
Allocation For Bharat Nirman Being Raised By 45%.
Allocation For Urban Poor For Provision For Housing And Basic Amenities To Be Raised To Rs 3973 Crores In The Current Year.
Allocation For Jawaharlal Nehru Urban Renewal Mission Increased By 87 % To Rs 12,887 Crores.
Central Assistance For Storm Water Drainage Project Increased To Rs 500 Crore From 200 Crore .
Target For Agriculture Credit Raised To Rs 3,25,000 Crore In 2009-10.
Rs 500 Crore For Rehabilation Of Sri Lankan Tamils.
Rs 1000 Crore For For Infrastructure In Cyclone Hit Area In West Bengal.
An Expert Panel Will Look In To Petroleum Product Pricing.
Domestic Oil Prices Must Be In Sync With Global Prices.
Fertilizers Subsidy To Go Directly To Farmers.
Blue Print For National Gas Grid.
Additional Budget Allocation For Farmers.
National Food Security Scheme For Subsidised Food.
25 Kg Rice Or Wheat At Rs 3 Per Kg To The Poor.
Interest Subsidy On Education Loan.
1% Interest Rates Incentive To Farmers To Repay Loans On Time.
Total Expenditure Crosses Rs 10 Lakh Crore.
Total Budget Expenditure For 2009-10 Will Be Rs 10,28,032 Crore.
Customs Excice And Service Tax Base Rates Unchanged.
100% Tax Deduction On Political Donation.
Income Tax Return To Be Made Simpler.
Saral – 2 Forms To Simplify Taxation Process.
It Exemption Limit Raised; Rs 15000 For Senior Citizens ; Rs 10000 For Personal Tax Payers Including Women.
Hike In It Exemption For Senior Citizens Rs 2,40,000
Hike In It Exemption For For Women Rs 1,90,000.
Hike In It Exemption For Others Rs 1,60,000
10% Surcharge On Income Above Rs 10,00,000 For Personal Tax Payers Scrapped.
Fringe Benefit Tax Abolished.
No Change In Corporate Tax.
Commodity Transaction Tax Abolished.
Minimum Alternate Tax Hiked To 15% From 10%.
Service Tax To Be Levied On Law Firms.
Tax Holiday On Petro Sector Extended To Natural Gas.
Government Committed To Provide Rs 100 A Day As Wages Under Nrega
Allocation Of Rs 39,100 Crore To Be Made For Nrega.
Nrega Coverage Increased To 4.74 Crore Household.
Excise Duty On Fibre For Cheaper Cloth Reduced.
Excise Duty On Petrol Driven Small Trucks Reduced To 10%.
Drugs For Heart Dieases To Become Cheaper.
Customs Duty On Gold And Silver Imported Increased.
Customs Duty Of 5% Being Levied On Import Of Set Top Boxes.
Moble Phone Accessories To Become Cheaper.
Custom Duty On Lcd Panels Halved.
Custom Duty On Bio- Diesel Reduced.
Tax Holiday Extended For Textiles Units.

Personal Income Tax Table
Up To 1.6 Lakh Nil.
Up To 1.9 Lakh Nil ( For Ladies )
Up To 2.4 Lakh Nil ( For Senior Citizens )

1.6 Lakh To 3 Lakh 10%.
3 Lakh To 5 Lakh 20 %
Above 5 Lakh 30 %
Education Cess 3 % .