GROSS DOMESTIC PRODUCT ESTIMATED TO GROW AT 5.5 %, +/- 0.5 % IN FY13 - 14. AT CURRENT PRICES THE ADVANCE GDP ESTIMATE OF 2012 - 13 IS Rs. 87,35,400 LAKHS CR AND AT 2004-05 PRICES ITS AT Rs. 55,09,210 LAKHS CR. FY14 TOTAL SUBSIDES AT Rs. 2,31,000 CR. FY14 FERTILIZER SUBSIDIES AT Rs. 66,000 CR. FY14 FOOD SUBSIDIES AT Rs. 90,000 CR. FY14 OIL & PETROL SUBSIDIES AT Rs. 65,000 CR. FY14 FISCAL DEFICIT AT Rs. 5,42,000 CR. FY14 GROSS MARKET LOANS ARE Rs. 6,29,000 CR. STATE PF ARE Rs. 10,000 CR. EXTERNAL AID ARE Rs.10,560 CR. OTHERS ARE Rs. 12,297 CR.
THE CENTER'S EXPENDITURE 2013 - 14 IS PROJECTED AT Rs. 14,90,925 Cr.
IN FLOW (Rs. in Cr)
CORPORATE TAX 4,19,520
INCOME TAX 2,47,639
CUSTOMS DUTY 1,87,308
EXCISE DUTY 1,97,554
SERVICE TAX 1,80,141
TAX OF UNION TERRITORY 2,758
TAX RECEIPTS FOR CENTRAL 8,84,078
STATE's SHARE IN TAX RECEIPTS 3,50,842
TOTAL TAX RECEIPTS 12,34,920
NON TAX RECEIPTS AMOUNT
INTEREST RECEIPTS 17,764
DIVIDENDS & PROFITS 73,866
EXTERNAL GRANTS 1,456
OTHER NON TAX RECEIPTS 78,000
RECEIPTS OF UNION TERRITORY 1,166
TOTAL 1,72,252
NON DEBT CAPITAL RECEIPTS 66,468
RECOVERY OF LOANS & ADVANCES 10,654
MISC. CAPITAL RECEIPTS 55,814
* Out of the Tax Receipts the Center has to keep aside for Calamity & Contingency Fund of Rs. 4,800 Crs.
FISCAL DEFICIT (In Rs.) AMOUNT
MARKET LOAN 4,84,000
EXTERNAL AID 10,560
STATE PF 10,000
OTHERS 12,297
TOTAL 5,42,499
OUT FLOW (Rs. in Cr)
PLAN EXPENDITURE 5,55,322
NON PLAN EXPENDITURE 11,09,975
OR
REVENUE EXPENDITURE 14,36,169
CAPITAL EXPENDITURE 2,29,129
DEFENSE 2,03,672
CENTRAL PLAN OUT LAY 99,030
GRANTS TO STATES & UTs 76,981
PENSIONS 70,726
INTEREST PAYMENTS 3,70,684
LOANS TO PSUs 417
OTHER GENERAL SERVICES 22,903
LESS OTHERS 302
CENTRAL PLAN 3,20,038
POSTAL DEFICIT 6,717
EXPENSES of UTs with out Legislature 4,395
NON PLAN CAPITAL OUTLAY 30,131
ECONOMIC SERVICES 24,334
GRANTS TO FOREIGN GOVT. 4,114
CENTRAL PLAN AID TO STATES 1,23,222
SOCIAL SERVICES 23,114
POLICE SERVICE 40,895
SOME MORE POINTS FROM BUDGET:-
No change in Income tax rates and slabs.
Imposed Surcharge of 10% on person whose taxable income exceeds Rs.1 Cr/yr. This will apply to Individuals, HUF's, Firms & entities with similar tax status.
The additional surcharge will be force for only one year i.e. FY 2013-14.
Increased surcharge from 5% to 10% on domestic companies whose taxable income exceeds Rs.10 Cr/yr, in case of foreign companies who pay the higher rate of Corp tax the surcharge will increase from 2% to 5%.
Effective Tax rate @33.99% for domestic co. having income more than Rs.10 Cr.
Effective MAT rate for Domestic co @21%.
DDT surcharge increased from 5% to 10%.
Tax credit of Rs. 2000 for income upto Rs.5 lakhs.
READ more INDIA UNION BUDGET
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