Date post: | 12-Jul-2015 |
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UNION BUDGET 2012-13
Presented by
Plan expenditure
Non-plan expenditure
Total expenditure
5,21,025 crore 9,69,900 crore 14,90,925 crore
Budget 2012-13
Impact of budget on Business & effect
Sector wise
Power
Expected
Extension of sunset clause for power
projects
Rationalization of Indirect taxes i.e
merger of Electricity duty
Refund of ED for setting up of
Mega/Ultra Mega projects
Sunset clause for IT exemption
extended by another one year
Additional depreciation of 20%
to power Cos
Import of Coal exempt from
customs for power projects
and CVD at 1%
Effect: On the whole, the removal of customs duty on coal imports
and the availability of ECB for part financing the rupee debt make the Budget
a positive one for the power sector.
Proposed
Infrastructure
Expected
Increase in infrastructure
spending through higher
allocation to various
schemes
Tax Concessions
Increased allocation of
funds marginally
Withholding Tax
reduction from 20% to 5%
on Interest on ECB
Effect: Positive For the infrastructure sector.
Steel demand from Infrastructure sector may
also improve
Proposed
Agriculture
Expected
Reduction in custom duties for
agricultural machinery
Reduction in CD for fertilsers
Reduction in customs
duties for specified
agricultural machinery
Reduction in CD for
fertilizer's
Effect: Positive For Fertilizer Industry and agro based industries
Proposed
Automobiles
Expected
Increase in ED
Concession to fuel
efficient vehicles
Increase in ED
Full exemption from Customs
for parts of hybrid Vehicles
Increase of 60% to 75% in CD
on large cars
Effect: With the hike in budget on excise duty by 2% .
The Car dealers have started charging higher price starting today
from customers quoting hike in excise duty. Even, Car parts
which are been imported has attracted duty of 75% from earlier 60%, this
will force car makers to increase price of cars further going forward
Proposed
Pharma & Healthcare
ExpectedInfrastructure status to Healthcare
Exemption of ED on physician samples
Reduction in duties for imports
Reduction in customs for
specified raw materials for
manufacture of medical Kits
Service tax on Health care
widened
Effect: Overall, the budget did not have anything encouraging for the
pharmaceutical sector.
Proposed
India Income tax slabs 2012-2013 for General tax
payersIncome tax
GDP Growth Rate
0
1
2
3
4
5
6
7
8
9
10
2007-08 2008-09 2009-10 2010-11 2011-12
GDP %
In 2012-13 GDP expectation is
7.6%
Inflation
0
2
4
6
8
10
12
14
2007-08 2008-09 2009-10 2010-11 2011-12
Inflation %
Inflation %
In 2012-13 7.6 per cent expect inflation to be
lower.
Fiscal deficit as a % of GDP
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
2007-08 2008-09 2009-10 2010-11 2011-12
Fiscal Deficit
Fiscal Deficit
Fiscal deficit at 5.1 per cent of GDP in BE 2012-13.
SERVICE TAX
Service Tax is a form
of indirect tax imposed
on specified services
called "taxable
services".
HOW A COMMON CAN BE AFFECTED
WITH HIKE IN SERVICE TAX(10% TO
12%)
Things that increase in Service
Tax will affect
Telephone Bill
Eating Out – Restaurants
Gyms
Car and Maintenance/Service/Rentals
Cable TV
Healthcare
Life Insurance Premium
Jewelry
Holidays & Vacations
Impact of change in Service Tax & Excise
Duty on various Sectors
Healthcare
Life Insurance
Automobiles – Cars
Jewelry
Holidays & Travel
Transportation
Healthcare
Ad that implies common man feels
burden to take health checkups
Due to the hike in service tax
CT SCAN now gets more
costly and a common man
feels difficult to go for health
checkups because the scan
machine cost the
buyer more
Telephone bill
Ad that implies Common man disappointing with
hike in bills
Common man
could be maintain
more mobiles
Man can survive
by managing
time to talk
Man feels difficult
to maintain
mobile with the
hikes in mobile
bills
Jewelry
Ad that implies family feels burden to
purchase gold
Family is
willing to
buy gold
Family facing
problem to
buy gold due
to hike in
gold rates
Before hike in gold
rates
After hike in gold rates
Life insurance
Ad that implies family struggling to get
insurance
A happy family
after paying
insurance low
amount of money
Family struggling
to pay insurance
since money is
increased
Before hike in
insurance After hike in
insurance
Automobile-cars
Ad that implies people feel uncomfortable due to
increase in service tax
People often
give their
cars for
washing
People now
washing their
cars
themselves
Before hike in service tax After hike in service
tax
Monthly Recurring
Expenditures
S.No Expense Description Monthly Expense @ Existing Tax % @ New Tax %
1 Telephone Bills Rs. 2000 Rs. 240 Rs. 288
2 Eating Out Rs. 2000 Rs. 240 Rs. 288
3 Gym Rs. 500 Rs. 60 Rs. 72
4Car Maintenance &
ServiceRs. 2500 Rs. 300 Rs. 360
5 Cable TV Rs. 250 Rs. 25 Rs. 30
Yearly Recurring Expenditures
S.No Expense Description Monthly Expense @ Existing Tax % @ New Tax %
1 Healthcare Rs. 25000 Rs. 2500 Rs. 3000
2Life Insurance
PremiumRs. 6000 Rs. 600 Rs. 720
3 Holidays & Travel Rs. 5000 Rs. 500 Rs. 600
4 Jewelry Rs. 50000 Rs. 1000 Rs. 2000
5
Family Functions
(Catering/Photograph
y etc.)
Rs. 20000 Rs. 2000 Rs. 2400
conclusion
It is not at all correct way to think that a common man can not survive with the new union budget, because with the hikes in service tax we can live by reducing our unnecessary expenses and can survive.
a common man can lead his life confidently even though the prices reached sky, by minimizing his costs and expenses
PRIYANKA
CHOUDHARY
K.SRINIVAS
D.T.S ASHOK REDDY
B.KRANTHI KUMAR
Presented By