Highlights of Union Budget 2013-2014

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Highlights of Union Budget 2013-2014
It's the last Union Budget for UPA II, with some populist measures likely, given General Elections next year. But, with the fiscal deficit very high, can P Chidambaram afford populist measures? Get live Union Budget 2013 updates here:

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12:45 PM: Sensex, Nifty crack after Budget speech. Markets don't like the Union Budget

12:45 PM: Finance Minister P Chidambaram concludes speech

12:42 PM: Rs 9,000 crores for GST compensation to states to be set aside

12:42 PM: Mobile phones exceeding Rs 2000 to attract 6% duty

12:40 PM: Service tax levied on air conditioned restaurants

12:38 PM: Import duty on set-top boxes to 10% from 5%

12:37 PM: Excise duty on cigarettes increased

12:36 PM: Excise duty on SUVs increased from 27 per cent to 30 per cent.

12:34 PM: To introduce DTC in parliament

12:31 PM: No change in rate of standard excise duty

12:30:PM Securities Transaction Tax reduced on equity futures

12:27: PM: TDS on property transactions above Rs 50 lakh

12:25 PM: Tax slabs remain the same. Education cess remains

12:25 PM: 10% surcharge on individuals earning income of Rs 1 crore. Only for 1 year though.

12:16 PM: Fiscal deficit for 2013-2014 estimated at 4.8%

12:15 PM: Fiscal deficit for 2012-2013 estimated at Rs 5.12%

12:15 PM: Planned expenditure estimated Rs 5,51,222 crores

12:11 PM: Nirbhaya Fund to be set up. Govt proposes to allocate Rs 1000 crores

12:09 PM: Post offices to get Rs 532 crores for technological modernisation

12:05 PM: Defense Budget hiked to Rs 2,03,672 crores

12:04 PM: Insurance, provident funds can trade directly in debt segments of stock exchanges

12:01 PM: Stock Exchange's to introduce debt dedicated segment on the exchanges.

12 Noon: FIIs permitted in Exchange Traded Currency Derivatives Segment.

11:58 AM: Proposal to amend SEBI amendment act. SEBI to simplify norms for foreign funds to invest in India.

11:56 AM: NHB to set up urban housing bank

11:53 AM: First women's bank to be set up with a capital of Rs 1000 crores.

11:52 AM: Working with RBI and NABARD to bring core banking by end of the year to all scheduled commercial banks

11:45 AM: MSEM units benefits to stay with them after three years of moving out to a bigger category

11:44 AM: Shale gas projects to be encouraged

11:42 AM: Home loan takers of above Rs 25 lakh will get a total deduction of Rs 2.5 lakh on gross taxable income

11:40 AM: Inflation indexed bonds to be introduced.

11:38 AM: RGESS to be liberalised. RGESS to be for three years and not one year. Income limit on RGESS raised to Rs 12 lakhs

11:37 AM: To attract new investment, new investment allowance for companies investing Rs 100 crores and more in plant and machinery.

11:36 AM: A Regulatory Authority for the Road sector is proposed

11:35 AM: Seek assistance from ADB and World Bank for roads in North East

11:32 AM: Infrastructure investment gets fillip. Infra debt funds would be encouraged. Four IDF's have been registered with SEBI.

11:30 AM: Rs 10,000 crores incremental funds for Food Security Bill.

11:26 AM: Rs 500 crores allocated for crop diversification programme.

11:25 AM: Rs 27,049 crores allocated to Ministry of Agriculture

11:24 AM: 46% hike in Rural Development spending

11:22 AM: Rs 33,000 crores allocated for MGNREGS

11:20 AM: Clean drinking water and sanitation Ministry allocated Rs 15260 crores

11:18 AM: Propose to allocate Rs 55,868 crore for Education: FM

11:16: AM To allocate Rs 37,370 crore for Heath and Family Welfare: FM

11:15 AM: Rs 3511 crores allocated to the Ministry of Minority Affairs

11:13 AM: Rs 41,000 crores for scheduled caste sub plan allocated: FM

11:12 AM: All flagship programmes adequately funded: FM

11:10: AM: Food inflation worrying. Will take supply side measures

11:08 AM: Greater worry is the current account deficit.

11:05 AM: Goal is greater growth with inclusive development: FM

11:02 AM: FM rises to deliver his speech

10:54 AM: Cabinet clears Budget2013

10:45 AM: Chidambaram leaves office to present Budget

10:35 AM: Markets trade higher with the Sensex up 118 points. Nifty gains 32 points with just 25 minutes to go before Chidambaram delivers his speech.

10:20 AM: Jewellery stocks like PC Jeweller and Tribhoovandas are down on fears of import duty on Gold

10:05 AM: Opinion is that FM may tax the super rich

10 AM: FM arrives for Cabinet meeting

9:50 AM: Rupee gains 17 paise at 53.70 to the Dollar ahead of the Budget

9:40 AM: ITC is the only Sensex stock that is lower on fears of excise duty on Cigarettes

9:40 AM: Sensex, Nifty galloping ahead of the Budget. Nifty up 38 points, Sensex up 128 points

9:30 AM: Rumours have it that the FM might propose an all Women's Bank

9:20 AM: Infrastructure stocks have rallied ahead of the Budget. L&T is up 1.6 per cent

9:15 AM: Markets open strong. Nifty up 51 points, Sensex up 160 points

9:00 AM: Rupee gains 22 paise in early trade ahead of the Budget

8:50 AM: Markets set to open higher in anticipation of Union Budget 2013

Read more about: union budget 2013
Story first published: Thursday, February 28, 2013, 8:48 [IST]
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