Showing posts with label Union Budget 2011 Highlights. Show all posts
Showing posts with label Union Budget 2011 Highlights. Show all posts

INDIAN RAILWAY BUDGET 2011-12: POPULIST OUTLINE

Posted by Pinky Verma on Wednesday, March 9, 2011 Comments: (1)

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Railway Budget 2011
Ku. Mamata Banerjee presented a populist Rail Budget for FY11-
12E– Freight rates left unchanged, meets expectation. Railway Minister Mamata Banerjee has showered largesse on West Bengal not only with new trains and railway industrial projects - even educational institutions in the state could benefit. Mamata Banerjee, facing assembly elections in West Bengal in two months has not touched the freight charges. On the passenger front she has reduced the booking fee by 50%. Budget maintains status Quo on freight rates which leaves no impact on sectors like Cement, Steel, Power, Agriculture, and Fertiliser.

KEY HIGHLIGHTS

  1.     No hike in passenger fare and freight rates.
  2.     Highest ever Plan outlay of Rs. 57, 630 crore proposed for Railways. Rs. 9,583 crore provided for new lines.
  3.     1300 km new lines, 867 km doubling of lines and 1017 km gauge conversion targeted in 2011-12.
  4.     56 new Express Trains, 3 new Shatabdis and 9 Duronto trains to be introduced.
  5.     AC   Double   Decker   services   on   Jaipur-Delhi andAhmedabad-Mumbai routes.
  6.     A  new  portal  for  E-ticketing  to  be  launched  shortly. Booking charges will be cheaper with a charge of only Rs. 10 for AC classes and Rs.5 for others.
  7.     Feasibility study to raise speed of passenger trains to 160-200 kmph to be undertaken.
  8.     Anti Collision Devise (ACD) sanctioned to cover 8 zonal railways. GPS Based 'Fog Safe' Device to be deployed.
  9.     All state capitals in the North-East except Sikkim to be connected by Rail in next seven years.
  10.  A Bridge Factory in J & K and a state-of-art Institute for Tunnel and Bridge Engineering is proposed at Jammu.
  11.    700 MW gas-based power plant to be set up at Thakurli in Maharashtra. 18,000 Wagons to be procured during 2011-12.
  12.   Recruitment for 1.75 lakh vacancies of Group 'C' and 'D' including to fill up backlog of SC/ST initiated, 16,000 ex- servicemen to be inducted by March 2011.
  13.    Freight loading of 993 MT and passenger growth of 6.4 % estimated for 2011-12.
  14.   Gross Traffic Receipts at Rs.1,06,239 crore, exceeding one lakh crore mark for the first time estimated.
  15.   Ordinary Working Expenses assessed at Rs. 73,650 crore

equity research report

DTC to be implemented from April 1, 2012: FM

Posted by Pinky Verma on Sunday, February 27, 2011 Comments: (0)

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Finance Minister Pranab Mukherjee today said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from April 1, 2012.

"... The code is proposed to be effective from April 1, 2012," Mukherjee said in his Budget speech 2011-12.
In the DTC Bill, which was introduced in Parliament last year, the annual I-T exemption limit is proposed at Rs 2 lakh, compared to Rs 1.6 lakh at present.

Under the Bill, the government seeks to widen tax slabs to levy 10% tax on income between Rs 2 lakh and Rs 5 lakh, 20% on Rs 5-10 lakh and 30% above Rs 10 lakh.

Currently, income up to Rs 1.6 lakh per annum is exempt from tax for individuals. For women and senior citizens, the limit is 1.9 lakh and 2.