Indian Union Budget 2012-13

By: DoYouKnow.IN | Views: 2705 | Date: 16-Mar-2012

Union Budget 2012-13 : Indian budget 2012-13 will be presented by Finance Minister Pranab Mukherjee in Lok Sabha and the budget date is March 16th 2012. Find info on India budget 2012-13, budget 2012, budget highlights, finance budget 2012-13, live news updates of union budget.

What is Union Budget?

The Union Budget of India, referred to as an annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year by the Finance Minister of India in Parliament. The India budget has to be passed by the House before it can come into effect on April 1st, the start of India's financial year.

Union Budget FY 2012-13 Overview

The special focus on UIDAI and the stress on leveraging IT to create an effective implementation platform for government delivery of programs and direct transfer of subsidies have been unanimously welcomed and seen as providing fillip to the domestic IT sector. However, this failed to make up for the many misses. The increase in both service tax and excise is seen as a big setback for the Indian IT sector. Further, the budget failed to address the software industry’s key demand around tax reforms as well.

  • Service tax rate raised from 10% to 12%
  • Excise duty raised to 12% from 10%
  • GST likely to be operational by August 2012
  • For the introduction of GST, an Empowered Group headed by Nandan Nilekani, Chairman, UIDAI has been set up by the government. The National Securities Depository Limited (NSDL) has been selected as technology partner for incubating the National Information Utility that will establish and operate the IT backbone for the GST.
  • Exemption limit for direct taxes increased to Rs 2lakh from Rs 1.8 lakh in FY13
  • Propose additional funds for Aadhar to cross 40 cr enrollment
  • UID allocation at Rs 14,232cr in FY13
  • 10% of IPO above Rs 10cr via electronic platform
  • Advance Pricing Agreements in DTC to be in Finance Bill
  • Tax deduction extended up to 200 per cent for research
  • Nandan Nilekani's recommendation to improve technology in food subsidy accepted
  • GDP estimated to grow by 6.9% in 2011-12, after having grown at 8.4% in preceding two years.

Previous Page Next Page

People Searching On This Page:
  • When the union budget 2012-13 of India was enacted ?
  • applicability date of rail budget
  • info loc:IN
  • info loc:IN
  • info loc:IN
  • enactment date of union budget 2012-13
  • railway budget 2013 applicable dare
  • Federal Budget 2012 13 indian
  • which date railway budget is applicable
  • gst applicability date in india 2013
  • gst applicability date in india
  • www.gstapplicableinindia
  • gst applicable date in india
  • india budget 2012 economists

Related Pages

List of New Express Trains in Rail Budget 2013

List of New Express Trains in Rail Budget 2013

Articles | General Knowledge | India
26-Feb-2013  Views: 1908

Here we have listed newly introduced express trains in rail budgets 2013 presented by railway minister PK Bansal. Total 67 new express trains are intr ...
Tax Amendments Expected in Union Budget 2013

Tax Amendments Expected in Union Budget 2013

Articles | Finance | Taxes
20-Feb-2013  Views: 1980

The union budget for the FY 2013-14 will be presented before the Parliament on 28th February 2013. Here are a handful of the number of amendments expe ...
List of New Trains in Rail Budget 2012-13

List of New Trains in Rail Budget 2012-13

Articles | General Knowledge | India
14-Mar-2012  Views: 13257

Here is the list of new express trains, passenger trains, MEMU, DEMU, extension of run and increase in frequency of trains announced in Railway Budget ...
Indian Railway Budget Highlights 2012 13

Indian Railway Budget Highlights 2012 13

Articles | News & Society
14-Mar-2012  Views: 2889

The Railway Minister Dinesh Trivedi presented the Rail Budget in Parliament on Wednesday, 14th March 2012, here are the highlights. ...
Indian Union Budget 2011-2012 By Pranab Mukherjee

Indian Union Budget 2011-2012 By Pranab Mukherjee

Articles | News & Society
28-Feb-2011  Views: 3868

India's Finance Minster Pranab Mukherjee has begun the presentation of his Budget speech for 2011-12 stating that average inflation will be down next ...
Post Your Comments (No Login Require)
Name : (required)
Email : (required)
Website :

Comment : (required)

10  + 1 =     
People Searched About:
When The Union Budget 2012-13 Of India Was Enacted ?   |   Applicability Date Of Rail Budget   |   Info Advance.Com.Br Loc:IN   |   Info Taxgate.Com Loc:IN   |   Info Express.Com.Pk Loc:IN   |   Enactment Date Of Union Budget 2012-13   |   Railway Budget 2013 Applicable Dare   |   Federal Budget 2012 13 Indian   |   Which Date Railway Budget Is Applicable   |   NEW RAIL BUDGET APPLICABLE ON WHICH DATE   |   Gst Applicability Date In India 2013   |   Gst Applicability Date In India   |   Www.Gstapplicableinindia   |   Applicable MAT In India In Budget 2012   |   Union Railway Budget 2012-13   |   India Union Budget 2012 Ratified   |   Passed Union Budget 2012-13   |   India Budget Fy: 2012-13   |   When Indian Union Budget 2012-13 Passed By Both Houses   |  
Google : 572 times | Yahoo : 62 times | Bing : 438 times |