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
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