Telengana problem continues.
Budget:- See
here.
1.1.73 Lakh croroes for Infra.46% of total plan outlay allocated to infrastructure
2.Agri credit flow targets have been met by banks. Target for this year increased to Rs 375000 cr from Rs 325000 cr last year
3.Govt to raise Rs 25000 cr through disinvestment.
4.RBI to release additional licenses to pvt sector banks and non-banking financial institutions
5.Govt to facilitate 20000 MMW of solar power by 2022
Social sector spending at Rs 1.38 tn for FY11
Allocation for urban development up 75% from Rs 3062 cr to Rs 5400 cr
Allocation to NREGA increased to Rs 40100 cr
Govt allocates Rs 22300 cr to healthcare
35% of development funds to be invested in rural India
Extends 1% interest subsidy scheme for affordable housing to March 2011
Govt to provide subsidy in cash instead of bonds for fertiliser, oil
To include subsidies in fiscal accounting
5.5% fiscal deficit, rolling targets of fiscal defict at 4.8% in 2011-12 and 4.1% in 2012-13
15% increase in plan expenditure and 6% in non-plan expenditure
Sops for real estate, housing projects extended by a year
Surcharge on domestic cos reduced to 7.5% from 10%, MAT increased from 15% to 18%
Income tax slabs revised
To partially roll back central excise duty
1226 hrs Excise duty on large cars, SUVs raised to 22%, up 2%
Rs 1 per litre excise on petrol, diesel;Fuel prices to rise by up to Rs 2.67 a litre
Petrol and diesel prices will go up by Rs 2.67 and Rs 2.58, respectively, after FM raised customs and excise duties on the two
To enhance duty on oil products to 10%
Raised excise duty from 5% to 10%
Custom duty on crude oil back to 5%
Enhance tax audit limits for professionals to Rs 15 lakh
To levy clean energy cess on imported coal
Gold,Silver import duty increased and oruces expected to soar.
Read here. and
here
Service tax rate retained at 10%, to bring more services under service tax net
1244 hrs Import duty on silver raised to Rs 1500 per kg
1243 hrs To raise excise duty from 8% to 10%
Direct tax proposals to result in revenue loss of Rs 260 bn
1248 hrs Rs 43,000 cr raised by partial rollbacks
Petroleum subsidy for 2010-11 seen at Rs 31.08 bn
Tax slabs:-
Read here.
Indian Markets May Correct 10% by May.Read here.
Govt's management of food economy flawed .
Read here.
FII net selling Rs 841 and DII net buying -Rs860 Crores on 25/2/10,and for February,2813 and 2204 respectively.Yearly figures are FII sales:10030; DII Purchases: 14566
1.BDI 2738;+27;+1.0%;Below the 200DMA of 3091;50 DMA(3040) has crossed the 200DMA.Dry Bulk Shipping is in trouble.
2.US Dollar Index (80.35). Rupee 4 paise up v Dollar @46.08
3.Reuters/Jeffries CRB index 274.776 (+3.908)
4.Gold $1118Oz
5.Silver $530/kg;
6.VIX:-
India 24.02;-5.53;-18.71%
US 19.50;-0.60;-2.99%
7.Crude $79.61/bbl
8.Sensex 175; 16430
