New Delhi. Cannabis or 'bhang' can cause psychosis, increase heart rate and BP and also harm brain of the fetus if taken during pregnancy. Celebrate Holi without bhang said Dr K K Aggarwal, President, Heart Care Foundation of India.

The acute side-effects caused by cannabis or 'bhang' are mainly related to psyche and cognition and to circulation. Euphoria, anxiety, changes in sensory perception, impairment of memory and psychomotor performance are common effects after a dose is taken, that exceeds an individually variable threshold.

Cannabis consumption may increase heart rate and change blood pressure, which may have serious consequences in people with heart disease. Effects of chronic use may be induction of psychosis and development of dependency to the drug. The effects on cognitive abilities seem to be reversible after abstinence, except possibly in very heavy users.

Cannabis exposure in utero may have negative consequences on brain development of the fetus with subtle impairment of cognitive abilities in later life. Consequences of cannabis smoking may be similar to those of tobacco smoking and should be avoided.  Cannabis use in young people has more detrimental effects than use by adults.

Some facts

New Delhi. The Prime Minister, Dr. Manmohan Singh, has greeted the nation on the joyous occasion of Holi.

In a message, the Prime Minister said that the festival of Holi is an occasion for renewing old bonds of friendship and making new ones. The colours of Holi are symbolic of our diverse and multicultural society and country. The celebration of this spring festival also marks a time of change for a brighter future. “May the festival bring prosperity and happiness to all” the Prime Minister added.

New Delhi. Holi is a festival of love and joy and should be used as a medium of communication to remove the mental dirt and clean the mind said Dr K K Aggarwal, President, Heart Care Foundation of India. He said that holi festival should not end up with quarrels, violence or eve teasing,

New Delhi. Balloons used by children during Holi can be dangerous and can cause blunt eye injury or even head injury. There can be bleeding in the eyes, lens subluxation, macular edema or retinal detachment. These can lead to loss of vision or even loss of the eye, said Dr K K Aggarwal, President, Heart Care Foundation of India.

Most synthetic colours are harmful to the eyes or skin. Home-made floral colours are always better. Chemical colours may contain heavy metals like lead which is harmful to the eyes and skin. Other health hazards due to the exposure to heavy metals include skin allergies, dermatitis, drying and chapping of the skin, skin cancer, rhinitis, asthma and pneumonia.

 What to do: Chemicals that goes in the eye may cause mild allergy or even severe chemical burn in the eye. A patient may present with allergic conjunctivitis, chemical burn, corneal abrasion or blunt eye injury. Most colours used during Holi usually cause mild redness and irritation lasting for upto 48 hours. If clarity of vision is affected, it’s an emergency. The particles in colour powders (shining mica particles in ‘gulal’) can cause damage to the cornea. Corneal abrasion is an emergency and one should immediately consult the eye doctor or ophthalmologist.

First aid: Splash a lot of tap water if any colour enters the eye. If there is vision loss, corneal abrasions, rush to the eye doctor.

New Delhi. The Prime Minister, Dr. Manmohan Singh’s statement prior to his departure to the Kingdom of Saudi Arabia:  He said, “I am leaving today on a bilateral visit to the Kingdom of Saudi Arabia at the invitation of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud. My visit carries special significance. I am conscious of the fact that this will be only the third visit by an Indian Prime Minister to Saudi Arabia. I, therefore, have a vast agenda for discussions with the Saudi leadership.

My visit reflects the strong mutual desire of both countries to reinvigorate our relations, as manifested in His Majesty King Abdullah’s historic visit to India in 2006 as the Chief Guest of our Republic Day celebrations. The Delhi Declaration that we signed on that occasion constitutes a valuable blueprint for our cooperation in the future.

The Gulf region is an area of vital importance for India’s security and prosperity. India and the Kingdom of Saudi Arabia have enjoyed special relations based on several millennia of civilisational and cultural linkages and people to people exchanges. The Kingdom is India’s largest and most reliable supplier of our energy needs from the region. Saudi Arabia is home to an Indian community numbering about 1.8 million. As many as 165000 Indian pilgrims perform the Haj annually. Our trade and investment linkages have grown though they remain much below the potential of our two economies, and must be broad based.

I will have the honour of holding talks with the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud on how can we promote greater stability and security in the region, and impart a strategic character to our relations beyond the traditional areas of our cooperation. There is great scope for opening new frontiers of cooperation in the areas of security, defence, science and technology, space, human resources development and knowledge-based industries. I believe India and Saudi Arabia have much to gain by cooperating with each other in combatting extremism and terrorism. I expect to discuss the situation in Afghanistan and other regional issues of mutual interest.

During my visit I look forward to addressing the distinguished members of the Majlis Al-Shura. A business delegation of CEOs is accompanying me, and I will address the Council of Saudi Chambers of Commerce and Industry. In addition, I will meet members of the Indian community.”

New Delhi. Prime Minister’s interview with Saudi journalists on the eve of his vist to Saudi Arabia:

"Q. 1. Hon. PM Both India and Saudi Arabia have hailed the visit of Custodian of the Two Holy Mosques King Abdullah to New Delhi in January 2006 as a landmark development marking the start of strategic relations between the two countries. Today, nearly four years later, what is your assessment of the progress made in this reinvigorated partnership that was initiated as part of King Abdullah’s ‘Look East’ policy? What are the most significant achievements so far?

Ans.: The visit of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz to India as Chief Guest at our Republic Day in January 2006 was a landmark event. This was the first visit of a Saudi ruler to India after 50 years. The Delhi Declaration signed by His Majesty King Abdullah and me enshrined our commitment to pursue a common strategic vision for promoting regional peace and security and for the enhancement of our relations in the political, economic, security and cultural fields.

We have made considerable progress in realizing our vision to strengthen our bilateral partnership. There have been regular high level Ministerial exchanges as well as intensified interaction among the business community, academia and other sections of society. The meeting of the India-Saudi Arabia Joint Commission took place in November 2009, which has put in place an ambitious agenda for bilateral cooperation. Saudi Arabia is India’s fourth largest trading partner with two-way trade of over $ 25 billion. The number of joint ventures in the Kingdom is over 500 with an estimated investment of over US$ 2 billion. We welcome increased investments from Saudi Arabia into India especially in the infrastructure sector where mutually beneficial opportunities exist.

Ans.: India and Saudi Arabia belong to the same extended neighbourhood. In the Delhi Declaration, we had pledged to work together not just for our bilateral benefit, but also to promote peace, stability and security in the region and the world. Both King Abdullah and I reject the notion that any cause justifies wanton violence against innocent people. We are strong allies against the scourge of extremism and terrorism that affects global peace and security.

During my visit, I propose to discuss with King Abdullah how can we promote greater stability and security in the region. We also have a substantial agenda for the advancement of bilateral relations in diverse areas such as trade and investment, energy, defence and security, social and cultural cooperation, and people-to-people exchanges. I look forward to interacting with the members of the business community in Saudi Arabia and inviting them to be a partner in India’s rapid socio-economic transformation through major infrastructure, energy, industry and services related projects.

Ans.: Several cooperation agreements are likely to be signed during my visit which will represent a broad range of Indo-Saudi cooperation in the fields of economic cooperation, culture, science and technology and information technology. I am confident these will further enrich our close relations.

Ans.: We are witnessing significant geo-political developments, which will directly impact on the peace and stability in the region. All these issues need to be addressed through sustained efforts. I believe that India and Saudi Arabia, as two major countries in the region, have an important stake and responsibility in this regard. In my dialogue with the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, I propose to review the regional scenario, and discuss how we can work together to address the complex issues at hand.

Ans.: Terrorism remains the single biggest threat to peace, stability and to our progress. Global efforts are needed to defend the values of pluralism, peaceful co-existence and the rule of law. All the member countries of the GCC share India’s concerns relating to extremism and terrorism. We reject the idea that any religion or cause can be used to justify violence against innocent people. We have institutionalised our cooperation with the Gulf countries by putting in place various security cooperation agreements, including extradition treaties.

SAARC as an organisation has committed itself to fighting terrorism. The SAARC Council of Ministers Meeting in February 2009 issued a Ministerial Declaration on Cooperation in Combating Terrorism. Given the fact that today extremist and terrorist activities straddle South Asia and West Asia and constitute a grave threat to our peoples, I agree that the SAARC and GCC anti-terrorism efforts should be more effectively coordinated.

Ans.: We do not have a defence agreement with Saudi Arabia. Since the visit of His Majesty King Abdullah bin Abdulaziz to India four years ago, our defence ties have, however, diversified and become more substantial. We have exchanged visits of our service Chiefs and naval ships, and Saudi officers have participated in our training programmes, including at the prestigious National Defence College. We look forward to deepening our defence cooperation with Saudi Arabia.

Ans.: I would submit that this concern is misplaced. Our relationship with no single country is at the expense of our relations with any other country. Indeed, India’s relations with the countries in West Asia gives us the opportunity to interact in diverse ways with this very important region.

As far as India’s support for Palestine is concerned, this is an article of faith for us. Our solidarity with the people of Palestine predates our independence. India supports a peaceful solution that would result in a sovereign, independent, viable and united State of Palestine living within secure and recognised borders, with East Jerusalem as its capital, side by side at peace with Israel as endorsed in the Quartet Road Map and the relevant Security Council Resolutions. We also support the Arab Peace Plan.

I recently had the pleasure of hosting His Excellency President Mahmoud Abbas and reiterating to him our steadfast support for Palestine and its people.

Ans.: India’s ties with the Arab world go back several millennia. While we recall our historic ties with great pride, we do recognize that relationships have to be constantly nourished and revitalized so that they respond to new realities and aspirations. India and the Arab world are witnessing a rapid modernization of their societies and economies. The India of today is vastly different from what we were at the time of our independence. The same is true of the Arab world.

There is no conflict of interest between us. To the contrary, our destinies are tied together and we have much to gain by intensifying our cooperation with each other. We have a huge stake in each other’s success, and to that extent ours is a relationship that is of strategic importance.

I would like to see a much greater integration of our economies, higher flow of trade and investment, better connectivities and freer flow of ideas and people. This has in fact been our historical legacy, and we should revive that legacy. From our side, there are no impediments to a rapid, sustained and comprehensive expansion of relations between India and the Arab world.

Ans.: India is a 5000 year old civilisation that today represents a confluence of religions, languages and cultures. We deeply value the principles of peaceful co-existence and harmony among nations. We will continue to work with all like-minded countries to create a just and equitable international order that is conducive to meeting the challenges of poverty, illiteracy and hunger.

We deeply appreciate and support the idea of an inter-faith dialogue. The knowledge of religious beliefs and practices of other people is important in itself and can foster greater understanding and tolerance. We have experience of this in our own country. Islam is an integral part of India’s democratic and secular fabric. Muslims in India are part of our national mosaic, and have enriched our society. Like all other Indians, they enjoy the full protection of our laws, and the full rights guaranteed to every Indian under our Constitution.

Ans.: We are extremely proud of the fact that the Indian community in the Gulf region has been contributing to the socio-economic development of the region. There are over 5 million Indian workers in the Gulf, of which almost 2 million live and work in Saudi Arabia alone. We are very grateful for the warm welcome they have received throughout the region.

The welfare of such a large overseas Indian community is a matter of high priority for my government. The Ministry of Overseas Indian Affairs, which we had set up six years ago, has worked tirelessly for the welfare of the Indian community in consultation with the host governments. The governments of several GCC countries have themselves set up mechanisms such as grievance redressal bodies and labour courts that are working closely with our officials. In addition, we have signed MoUs on labour and manpower with most of the GCC countries.

At the Indian end, we are in the process of reforming our own procedures, including better regulation of the recruitment process. We have also put in place arrangements in all Gulf countries, including Saudi Arabia, to respond to workers’ grievances. These include a 24-hour helpline, temporary shelters, counseling centres, and strengthened Community Welfare Wings in our diplomatic Missions.

Ans.: There is no change in our position. We seek a peaceful and normal relationship with Pakistan. We should be good neighbours. In that quest we have consistently sought to engage those in Pakistan who are ready to work with us. There is no alternative to dialogue to resolve the issues that divide us. Today the primary issue is terrorism.

Ans.: As a neighbour, we cannot remain immune to the rise of extremism and terrorism in Pakistan, or on the border of Pakistan and Afghanistan. Extremism and terrorism are major threats not only to India, but also to Pakistan, and all its other neighbours. It is in our collective interest that we resolutely oppose, resist and overcome terrorism and all those who nurture, sustain and give sanctuary to terrorists and extremist elements.

It is a fact that Jammu and Kashmir and its people have suffered repeatedly at the hands of terrorism from across the border. This has militated against the will of the people of the State, who have time and again voted in large numbers in democratic elections to unambiguously reject violence. We have taken several measures for the development of Jammu and Kashmir, and for its people to live in peace and harmony, as in the rest of the country. In so far as our dialogue with Pakistan is concerned, we are ready to discuss all issues with them in an atmosphere free from terrorism."

New Delhi. The President of India, Smt. Pratibha Devisingh Patil in her message on the occasion of Holi has said:- “On the auspicious occasion of Holi, I extend my greetings and good wishes to all fellow citizens. Holi is festival of joy, hope and fulfilment in our life. May this festival strengthen fraternal bonds amongst our people and bring peace and prosperity to our nation.”

The Vice President of India Shri M. Hamid Ansari has greeted the people of our country on the auspicious occasion of Holi, the festival of colours. In his message, he has said that the mood of joyfulness captured in the colours of Holi unites people in the celebration of the festival, strengthening our social fabric.

He said, “My hearty greetings and good wishes to the people of our country on the auspicious occasion of Holi, the festival of colours. Holi which is celebrated across the country with much enthusiasm marks the advent of the spring season and reminds us of our tradition of unity amidst diversity. The mood of joyfulness captured in the colours of Holi unites people in the celebration of the festival, strengthening our social fabric. May this festival fill our lives with happiness and peace. “

New Delhi. The Finance Minister, Shri Pranab Mukherjee in his Budget speech in Parliament today, proposed to introduce a competitive bidding process for allocating coal blocks for captive mining. This, he said, would ensure greater transparency and increased participation in production from these blocks.

The Minister said that coal is the mainstay of India’s energy sector and 75% of the power generation in the country is currently coal based.

The Minister also announced that the Government proposes to take steps to set up a “Coal Regulatory Authority” to create a level plain field in the coal sector. This, he said, would facilitate resolution of issues like economic pricing of coal and benchmarking of standards of performance.

Keeping in view the importance of energy sector for infrastructure support to the Indian economy, the Plan Outlay for the Ministry of Coal has been fixed at Rs. 13,518.39 crore. This will be met by budgetary support of Rs.400 crore and IEBR of Rs.13,118.39 crore.

New Delhi. Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today, said that the wide-ranging discussions on the Direct Tax Code (DTC) with stakeholders have been concluded and the government will be in a position to implement the DTC from April 1, 2011.

The Minister also informed the House that the Union Government is actively engaged with the Empowered Committee of State Finance Ministers to finalise the structure of Good and Services Tax (GST) as well as the modalities of its expeditious implementation. The government will endeavour to introduce GST by April 2011, the Minister added.

New Delhi.President Hamid Karzai of Afghanistan today called the Prime Minister to express his condolences on the loss of Indian lives and injuries sustained by many others in the terrorist attack in Kabul on 26 February 2010. President Karzai promised a full investigation into the attack. The Prime Minister conveyed India’s outrage at the incident. While thanking the Government of Afghanistan for the assistance being given, the Prime Minister requested President Karzai to ensure full security for Indian nationals in Afghanistan. The two leaders agreed to stay in touch with each other.

New Delhi. Use natural herbal colors or it can cause serious health hazards said Dr. K K Aggarwal, President, Heart Care Foundation of India. Other way is to use chandan ka tika. The deeper meaning behind the festival is to remove internal dirt from the body by spreading love and affection.

Chemical colours, bhang and the indiscriminate use of alcohol, all can lead to health hazards.

An earlier report from the AIIMS has shown that green/bluish-green colours are associated with higher incidence of ocular toxicity.

In fact most “pleasing to eye” colours available in the market are toxic and could cause serious disorders.

Malachite green is extensively used in Holi and can cause severe eye irritation with epithelial defect upon exposure, though it usually does not penetrate through the cornea.

Apart, presence of cheap inorganic chemicals like mica, acids, alkalis, pieces of glass, not only induce skin disorders like abrasion, irritation or itching but can also impair vision, cause respiratory problems and also cancer.

The alkaline base of these colours can cause injuries, the severity of which depends upon the area of contact and the degree of penetration.

Broadly there are three categories of colours available in the market — pastes, dry powders and water colours. The hazard increases when these are mixed with oil and applied to the skin.

Most inorganic dry colours or gulals have two components — a colorant which may be toxic and a base, which could be asbestos or silica, both of which are capable of causing health hazards. While silica dries as well as chaps the skin, asbestos that is a known human carcinogen, can result in cancer.

New Delhi. The Vice President Shri M. Hamid Ansari has strongly condemned the dastardly terrorist attack in Kabul today which killed and injured many persons including Indian citizens.

He expressed his deepest condolences to the families of the Indian citizens killed and injured in the attack. The Vice President said that the entire nation mourns their death and values their services and contribution to the nation. He reaffirmed the national resolve to continue the fight against terrorism which he characterised as "a scourge afflicting humanity".

The Prime Minister, Dr. Manmohan Singh has condemned the bomb blasts in Kabul. In a statement the Prime Minister said: “I am deeply saddened and grieved at the loss of lives of Indian nationals in the bomb attack in Kabul , which has also claimed the lives of several innocent Afghan civilians. I condemn in the strongest possible terms this senseless act of violence and barbarism which strikes at the core of everything a civilized society holds dear. The Indians who have lost their lives were on a mission of goodwill and friendship, helping to construct the peaceful, democratic Afghanistan that our Afghan friends desire. I convey my heartfelt condolences to their families and near and dear ones, and assure them that we stand with them in this hour of grief, and will render all possible support to them.”

New Delhi. The President of India, Smt. Pratibha Devisingh Patil in her message on the occasion of Milad-un-Nabi, which is being observed tomorrow, has said: -

“On the occasion of the Milad-Un-Nabi, I extend my greetings and good wishes to all my fellow citizens.

May the message of compassion, tolerance and service to humanity preached by the Holy Prophet inspire and guide us to follow the path of kindness and universal brotherhood.”

The Vice President of India Shri M. Hamid Ansari has greeted the people of our country on the auspicious occasion of Milad-Un-Nabi which is celebrated to mark the birth of Prophet Mohammad. In his message he has said that Prophet Mohammad showed mankind the path of compassion, tolerance, love, brotherhood and righteousness. His message has the power to lift the human race from ignorance, violence and moral decay to a life of peace, virtue and spiritual fulfilment.

He said, “I extend my greetings and good wishes to the people of our country on the auspicious occasion of Milad-Un-Nabi which is celebrated to mark the birth of Prophet Mohammad.

Prophet Mohammad showed mankind the path of compassion, tolerance, love, brotherhood and righteousness. His message has the power to lift the human race from ignorance, violence and moral decay to a life of peace, virtue and spiritual fulfilment.

May the enlightened message of the Prophet unite us all and guide us on the path of peace and harmony.”

The Prime Minister, Dr. Manmohan Singh has greeted the nation on the auspicious occasion of Milad-un–Nabi, the birth anniversary of Prophet Mohammed. In a message, the Prime Minister said that the universal teachings of love and compassion of Hazrat Mohammad inspire us to work for universal peace and brotherhood.

New Delhi. The Finance Minister, Shri Pranab Mukherjee announced in his Budget speech in Lok Sabha today that it is proposed to formalize a symbol for the Indian Rupee in the ensuing years. The proposed symbol will appropriately reflect and capture the Indian ethos and culture.

With this, Indian Rupee will join the select club of currencies such as the US Dollar, British Pound Sterling, Euro and Japanese Yen that have a clear distinguishing identity, said the Finance Minister.

New Delhi. In the Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, the rate reduction in Central Excise duties has been partially rolled back and the standard rate on all non-petroleum products enhanced from 8 per cent to 10 per cent ad valorem. The specific rates of duty applicable to Portland cement and cement clinker are also being adjusted upwards proportionately. Similarly, the ad valorem component of excise duty on large cars, multi-utility vehicles and sports-utility vehicles which was reduced as part of the first stimulus package is being increased by 2 per cent points to 22 per cent.

The basic duty of 5 per cent on crude petroleum, 7.5 per cent on diesel and petrol and 10 per cent on other refined products has been restored. Central Excise duty on petrol and diesel has been enhanced by Rupee One per litre each.

Some structural changes in the excise duty on cigarettes, cigars and cigarillos have been made coupled with some increase in rates. Excise duty on all non-smoking tobaccos such as scented tobacco, snuff, chewing tobacco etc. has been enhanced. Compounded levy scheme for chewing tobacco and branded unmanufactured tobacco based don the capacity of pouch making machine have been introduced.

New Delhi. The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, provides boost to the research and development (R&D) activity across all sector of economy. Weighted deduction on expenditure incurred on in-house R&D has been enhanced from 150 per cent to 200 per cent. Weighted deduction on payments made to National Laboratories, Research Associations, Colleges, Universities and other institutions for Scientific Research has been enhanced from 125 per cent to 175 per cent.

Payment made to an approved association engaged in research in Social Sciences or Statistical Research will be allowed as a weighted deduction of 125 per cent. The income of such approved research association shall be exempted from tax.

New Delhi. In the Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, limits for turnover above which accounts need to be audited has been enhanced to Rs. 60 lakh (from the present Rs. 40 lakh) for businesses and to Rs. 15 lakh (from the present Rs. 10 lakh) for profession. Limit of turnover for the purpose of presumptive taxation of small business has been enhanced to Rs. 60 lakh.

To facilitate the conversion of small companies into Limited Liability Partnership, transfer of assets as a result of such conversion will not be subject to capital gains.

With a view to give a boost to investment in the tourism sector, the benefit of investment linked deduction under the Act has been extended to new hotels of two star category and above any where in India.

To provide one time interim relief to the housing and real estate sector, pending projects have been allowed to be completed within a period of five years instead of four years for claiming a deduction on the profits. The norms for built up area of shops and other commercial establishments in housing projects have been relaxed to enable basic facilities for the residents.

New Delhi. The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, provides relief measures to promote clean environment. Clean energy cess on coal produced in India as well as on the imported, will be levied at a rate of Rs. 50 per tonne. The measure is aimed at building the corpus of the National Clean Energy Fund. A concessional custom duty of 5 per cent to machinery instruments, equipments and appliances etc. required for the initial setting up of photo voltaic and solar thermal power generating units have been proposed. They will also be exempted from the central excise duty. Ground source heat pumps used to tap geo-thermal energy have been exempted from basic customs duty and special additional duty.

Central excise duty on LED lights which are highly energy efficient source of energy has been reduced from 8 per cent to 4 per cent at par with compact fluorescent lamps.

To remedy the difficulty faced by manufacturers of electric cars and vehicle in neutralizing the duty paid on their inputs and components, a nominal duty of 4 per cent on such vehicles has been imposed. Some critical parts of sub-assemblies of such vehicles exempted from basic customs duties and special additional duty subject to actual user condition. These parts would also enjoy a concessional CVD of 4 per cent.

A concessional excise duty of 4 per cent has been provided to ‘Soleckshaw, a product developed by CSIR to replace manually operated rickshaws. Its key parts and components will be exempted from custom duty.

To encourage the use of bio-degradable materials, the import of compostable polymer has been exempted from basic customs duty.

New Delhi. The General Budget 2010-11 has carried forward the process of reforms in tax administration in the country. The citizen-centric initiative “Sevottam” which was launched as a pilot project at Pune, Kochi and Chandigarh, will be extended to four more cities this year. The centralized processing centre at Bengaluru is now fully functional and processing around 20, 000 tax returns daily. This initiative aimed at reducing the physical interface between the taxpayers and the tax administration and to speed up procedures and processes, will be taken forward by setting up two more centers during the year.

The Income Tax department is now ready to notify SARAL-II form for individual salaried taxpayers for the coming assessment year.

The proposals related to indirect taxes are focused to achieve a further degree of fiscal consolidation without impairing the recovery process and moving forward on the road to GST. Project ACES-Automation of Central Excise and Service Tax, has been rolled out in the country. This will impart greater transparency in tax administration and improve the delivery of taxpayer services. Budget proposes to expand the scope of Settlement Commission in respect of Central Excise and Customs so that certain category of cases that hitherto fell outside its jurisdiction may be admitted.

New Delhi. Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today, said that a Nutrient Based Subsidy Policy for the fertilizer sector has been approved by the government and will become effective from April 1, 2010. This policy is expected to promote balanced fertilization through new fortified products and focus on extension services by the fertilizer industry. This will lead to an increase in agricultural productivity and consequently better returns for the farmers. The policy is further expected to reduce volatility in the demand for fertilizer subsidy in addition to containing the subsidy bill. The government will ensure that nutrient based fertilizer prices for transition year 2010-11, will remain around MRPs currently prevailing. The new system will move towards direct transfer of subsidies to the farmers, Shri Mukherjee added.

The Minister informed the House that an Expert Group that was set up to advise the government on a viable and sustainable system of pricing of petroleum products has submitted its recommendations and apprised that a decision on these recommendations will be taken in due course.

New Delhi. The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, announced that the Plan outlay of the Ministry of Social Justice and Empowerment has been enhanced by 80 per cent to Rs. 4500 crore, supporting programmes being implemented for target population groups covering Scheduled Castes, Other Backward Classes,persons with disabilities, senior citizens and victims of alcoholism and substance abuse. With this enhancement, the Ministry will be able to revise the rates of scholarship under its post-matric scholarship schemes for SCs and OBC students, which is long overdue, he added. The allocation will also assist in establishing an Indian Sign Language Research and Training Centre for the benefit of the hearing impaired. District Disability Rehabilitation Centres are being set up in 50 additional districts along with two composite regional centres for persons with disabilities.

The Finance Minister also announced that the Plan outlay for Women and Child Development is being stepped up by almost 50 per cent. The ICDS platform is being expanded for effective implementation of the Rajiv Gandhi Scheme for Adolescent Girls. A mission for the empowerment of women is being set up.

Shri Mukherjee stated that the Plan allocation for the Ministry of Minority Affairs is being increased by nearly 50 per cent from Rs.1740 crore to Rs.2600 crore for the year 2010-11. He added that the Government is close to achieving the target of 15 per cent priority sector lending to minorities in the current year, which will be maintained in the next three years.

The Finance Minister announced the launch of a Mahila Kisan Sashaktikaran Pariyojana to meet the specific needs of women farmers. Rs. 100 crore is being provided for this initiatives as a sub-component of the National Rural Livelihood Mission.

New Delhi. As part of the process of financial restructuring the National Aviation Company of India Limited (NACIL), an amount of Rs.1200 crore has been provided in the Budget 2010-11 and included in the Outlay of the Ministry of Civil Aviation which totals at Rs.9588.30 crore of which budgetary support is Rs.2,000 crore. This was announced by the Finance Minister, Shri Pranab Mukherjee in his Budget speech in Parliament today.

Airports Authority of India (AAI) has been provided with a budgetary support of Rs.600.50 crore out of which Rs.120.50 crore has been earmarked for development of airports in North-Eastern States. The remaining Rs.480 crore is for the development of airports in other crucial areas like Leh, Ajmer, Agatti, Port Blair, Tirupati, Pudducherry etc. and the satellite based navigation project (GAGAN). A provision of Rs.40 crore has been made for development of helipad at Rohini in the National Capital Region of Delhi and for helicopter training institute/heliport in Pune by Pawan Hans Helicopters Ltd.

New Delhi. Shri Pranab Mukherjee, Union Finance Minister, while presenting the Union Budget in Lok Sabha today, informed that an incentive of additional one per cent interest subvention to farmers who repay short-term crop loans as per schedule, is proposed to be increased to two per cent for 2010-11. Thus, the effective rate of interest for such farmers will now be 5 per cent per annum.

In view of the recent drought in some States and the severe floods in some other parts in other country, the period for repayment of the loan amount by farmers is proposed to be extended by six months from December 31, 2009 to June 30, 2010 under the Debt Waiver and Debt Relief Scheme for farmers.

New Delhi. Dr. Farooq Abdullah, Union Minister for New & Renewable Energy has welcomed the 61% hike for renewable energy sector in the budget allocation for the year 2010-11. In a statement he thanked the Prime Minister, Dr. Manmohan Singh and the Finance Minister, Shri Pranab Mukherjee for considering the financial requirements of the renewable energy sector. He said that the increased allocation will enable his Ministry not only to take up new projects but also to strengthen the existing ones.

The approved outlay of the Ministry of 2009-10 was Rs.620 crore (GBS). The same has now been enhanced to Rs.1000 crore (GBS) for 2010-11, which represents an increase of 61% over last year’s outlay. This increase is mainly due to the increased thrust being given by the Government on Solar energy utilization under the Solar Mission.

The Finance Minister Shri Pranab Mukherjee in his budget speech in Parliament today also announced that to address the problem of energy deficiency in the Ladakh region of Jammu & Kashmir which faces extremely hard climate, the government proposes to set up solar, small hydro and micro power projects at a cost of Rs.500 crore.

New Delhi. A uniform concessional basic duty of 5 per cent, CVD of 4 per cent with full exemption from special additional duty on all medial equipment are proposed doing away with a very complex import duty regime. The Finance Minister, Shri Pranab Mukherjee while presenting the Union Budget in Lok Sabha today said that multiple rates coupled with descriptions not aligned with tariff lines result in disputes and at times prevent state-of-art equipment from getting the benefit of exemption.

The Finance Minister also announced a concessional basic duty of 5 per cent on parts and accessories needed for the manufacture of medical equipment, instruments and appliances. These have been exempted from CVD and additional duty.

Full exemption currently available to medical equipment and devices such as assistive devices rehabilitation aids etc., will continue during 2010-11. The concession available to Government hospitals or hospitals set up under a statute is retained.

Responding to the representations of manufacturers of orthopaedic implants, the Finance Minister announced exemption on specified inputs for the manufacturer of these implants from the import duty.

New Delhi. The Finance Minister Shri Pranab Mukherjee in his budget speech in Parliament today announced that to address the problem of energy deficiency in the Ladakh region of Jammu & Kashmir which faces extremely hard climate, the government proposes to set up solar, small hydro and micro power projects at a cost of Rs.500 crore.

Ladakh Region with its extreme environment faces energy vulnerability resulting in population of the area facing energy adversities enormously throughout the year, particularly in the winter months. While urban areas, and all defence establishments, use diesel and kerosene extensively, populations in the remote areas face problems for cooking and heating. Diesel, Kerosene and firewood have to be transported from long distance and at huge cost. The issue is not only of energy supply but also of health and livelihoods.

Considering that the region has good potential of solar and hydro resources, much of it yet to be realized and can be effectively used for minimizing use of diesel, kerosene and fuel wood, detailed studies were undertaken to assess the potential and identify suitable locations where small hydro projects can be set up and solar energy systems installed. Consultations were also held with the local people, NGOs and renewable energy agencies working in the region to draw up a plan and implementation strategies.

Taking feedback from all the stakeholders, the Ministry of New and Renewable Energy has prepared a Plan for large scale use of Renewable Energy with a package of Rs 520 crore. The plan envisages of 30 small / micro hydel projects aggregating to 23.5 MW capacity, setting up of about 300 SPV power plants of 5-100 KW capacity, 2000 SPV home lighting systems and about 40,000 solar thermal systems such as water heating, solar cookers, solar passive buildings, solar green house etc. The greenhouses proposed to be set up in the region would help in increasing the production of green vegetables in winters for the region. The project will be implemented in three years.

A major initiative to minimize use of diesel, kerosene and firewood in Ladakh region is being planned. This environmentally fragile region is well endowed with natural resources and can meet its power and fuel requirement through small hydro projects and decentralized solar PV and Thermal applications. The Plan also envisages increase in production of green vegetables in winter there on green houses. The outcome would be a saving of about 200 lakh liters of diesel annually.

New Delhi. The Tourism and Housing & Urban Poverty Alleviation Minister Kumari Selja has welcomed the proposals made in the Union Budget 2010-2011 in Tourism and Housing & Urban Poverty Alleviation sectors. She thanked the Finance Minister for giving the encouragement to these sectors in the Budget. Shri Pranab Mukherjee announced following proposals for tourism and Urban Development and Housing sectors in the Lok Sabha today while presenting the Union Budget:

“To give a boost to investment in the tourism sector which has high employment potential. I propose to extend the benefit of investment linked deduction under the Act to new hotels of two-star category and above anywhere in India.”

“I propose to provide a sum of Rs.200 crore as a Special Golden Jubilee package for Goa to preserve the natural resources of the State by restoring Goa’s beaches which are prone to erosion, and increasing its green cover through sustainable forestry.”

Housing & Urban Poverty Alleviation:

“Swarna Jayanti Shahari Rozgar Yojana” designed to provide employment opportunities in urban areas, has been strengthened with focus on community participation, skill development and self employment support structures. For the year 2010-11, I propose to increase the allocation for urban development by more than 75 per cent from Rs.3,060 crore to Rs.5,400 crore. In addition, the allocation for Housing and Urban Poverty Alleviation is also being raised from Rs.850 crore to Rs.1000 crore in 2010-11.”

“While presenting the Union Budget for the year 2009-10, I had announced a Scheme of one per cent interest subvention on housing loans up to Rs.10 lakhs where the cost of the house does not exceed Rs.20 lakhs. I propose to extend this Scheme up to March 31, 2011. Accordingly, I propose to provide a sum of Rs.700 crore for this Scheme for the year 2010-11.”

“The Rajiv Awas Yojana (RAY) for slum dwellers and urban poor was announced last year to extend support to States that are willing to provide property rights to slum dwellers. This scheme is now ready to take off. I propose to allocate Rs.1270 crore for 2010-11 as compared to Rs.150 crore last year. This marks an increase of over 700 percent. The Government’s efforts in the implementation of RAY would be to encourage the States to create a slum free India at the earliest.”

“To provide one time interim relief to the housing and real estate sector which was impacted by the global recession, I propose to allow pending projects to be completed within a period of five years instead of four years for claiming a deduction on their profits. I also propose to relax the norms for built-up area of shops and other commercial establishments in housing projects to enable basic facilities for their residents.”

New Delhi. The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, announced that the spending on social sector has been gradually increased to Rs.1,37,674 crore and now stands at 37 per cent of the total plan outlay in 2010-11. Another 25 per cent of the plan allocations are devoted to the development of rural infrastructure. With growth and the opportunities that it generates, the Government hopes to further strengthen the process of inclusive development, he added.

The Finance Minister has stated that to reach the benefits of banking services to the ‘Aam Aadmi’, the Reserve Bank of India had set up a High Level Committee on the Lead Bank Scheme. After careful assessment of the recommendations of this Committee, and in further consultation with the RBI, it has been decided to provide appropriate Banking facilities to habitations having population in excess of 2000 by March, 2012. It is also proposed to extend insurance and other services to the targeted beneficiaries. These services will be provided using the Business Correspondent and other models with appropriate technology back up. By this arrangement, it is proposed to cover 60,000 habitations.

In 2007-08 the Government had set up a Financial Inclusion Fund and a Financial Inclusion Technology Fund in NABARD, to reach banking services to the unbanked areas. To give momentum to the pace of financial inclusion, the Finance Minister has proposed an augmentation of Rs. 100 crore for each of these funds, which shall be contributed by Government of India, RBI and NABARD.

New Delhi. The Budget allocation for Ministry of Information & Broadcasting for the year 2010-11 is Rs. 850 crore which includes Rs. 343.48 crore for Broadcasting Sector, Rs. 100 crore for Information Sector, Rs. 88 crore for Film Sector and a provision of Rs. 318.52 crore for Commonwealth Games and related programmes.

Provision has been made for Publicity for Special Events, Museum of Moving images, Global Film School, Setting up of National Centre for Excellence in Animation, Gaming & Special Effects, programmes on various issues covering national integration, communal harmony and other themes of national and social importance.

New Delhi. The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, supports the strategy for the development of agriculture and related sectors. The Budget provides

New Delhi. The Finance Minister, Shri Pranab Mukherjee, while presenting the Union Budget 2010-11, in the Lok Sabha today, stated that for the Government, development of rural infrastructure remains a high priority area. For the year 2010-11, Rs.66,100 crore has been provided for rural development. For NREGA, the allocation has been stepped up to Rs. 40,100 crore and for Bharat Nirman to Rs. 48,000 crore for 2010-11.

The Finance Minister announced that unit cost under Indira Awas Yojana is being increased to Rs. 45,000 in plain areas and to Rs. 48,500 in the hilly areas. Allocation for this scheme is being increased to Rs. 10,000 core for the year 2010-11.

The Finance Minister announced that additional central assistance of Rs. 1,200 crore is being provided for drought mitigation in Bundelkhand region. He said that as a part of the strategy to bridge the infrastructure gap in backward districts of the country, the Backward Region Grant Fund has proved to be an effective instrument. It has been proposed to enhance the allocation to this fund by 26 per cent from Rs. 5,800 croe in 2009-10 to Rs.7,300 crore in 2010-11.

The Finance Minister announced that the Plan allocation for school education is being increased by 16 per cent from Rs. 26,800 crore in 2009-10 to Rs. 31,036 crore in 2010-11. In addition, States will have access to Rs. 3,675 crore for elementary education under the Thirteenth Finance Commission grants for 2010-11.

Shri Mukherjee announced that an Annual Health Survey to prepare the District Health Profile of all Districts shall be conducted in 2010-11.

New Delhi. The Union Budget 2010-11 seeks to address the needs of multi-service operators to invest in ‘Digital Head End’ equipment to adopt digital technology and keep pace with on-going transformation in infotainment sector. Shri Pranab Mukherjee, the Union Finance Minister announced project import status at a concessional customs duty of 5 per cent with full exemption from special additional duty to the initial setting up of such projects.

The Union Budget 2010-11 also proposes to do away with differential customs duty structure for importing digital masters of films for duplication or distribution in electronic medium and in cinematographic film. This differential duty structure hitherto being charged on the value of carrier medium will no more be applicable. The same dispensation would apply to music and gaming software imported for duplication. In all such cases, the value representing the transfer of intellectual property rights would be subjected to service tax, said the Finance Minister.

New Delhi. The Union Budget this year has aimed to focus on inclusive growth and insuring food security. These concerns for aam aadami have gone hand in hand with credible measures for improving investment climate, strengthening infrastructure and fiscal consolidation. As the country looks to ‘quickly revert to high GDP growth path’ in the wake of ‘uncertain times’, concerns for inclusive growth targeting the disadvantaged sections form the defining features of the Budget.

Many new initiatives have been introduced for sustained and inclusive growth. These include setting up of Mahila Kisan Sashaktikaran Pariyojana, Financial Stability and Development Council, Gold Regulatory Authority, Technical Advisory Group for Unique Projects, National Mission for Delivery of Justice and Legal Reforms, Independent Evaluation Office and National Clean Energy Fund,

Presenting the Union Budget 2010-11 in the Lok Sabha today, the Finance Minister Shri Pranab Mukherjee, said that three challenges would continue to engage the Indian policy planners for next few years. The first challenge is to quickly revert to the high GDP growth path of 9 per cent and then find the means to cross the double digit growth barrier. The second challenge is to consolidate recent gains in making development more inclusive. The third challenge is to remove weaknesses at different levels of governance and to improve public delivery mechanism. The Budget, therefore, focuses on fiscal consolidation, making growth more broad-based and ensuring that supply-demand imbalances are better managed.

The Minister expressed the hope that the economy will reach 10 per cent growth in not too distant a future. The Minister explained that after a fall in GDP growth in 2008-09 to 6.7 per cent, the growth has built up and 7.2 per cent growth is expected in 2009-10. The Minister said that the recovery is very encouraging as it has come about despite negative growth in agriculture sector. The growth rate in manufacturing in December 2009 was 18.5 per cent, the highest in past two decades. Similarly, there are also signs of a turnaround in the merchandise exports with a positive growth in November and December 2009 after a decline in about twelve successive months.

Expressing concern at the emergence of double digit food inflation, the Minister said that the Government has set in motion steps in consultation with the State Chief Ministers to bring down the inflation in the next few months and ensure better management of food security.

FISCAL CONSOLIDATION

The Minister said that now that the recovery has taken roots, there is a need to review public spending, mobilize resources and gear them towards building the productivity of the economy.

The government will follow the recommendations of the Thirteenth Finance Commission by capping the government debt. The Commission has recommended a capping of the combined debt of the Centre and the States at 68 per cent of the GDP to be achieved by 2014-15.

For the first time, the Government would target an explicit reduction in its domestic public debt-GDP ratio. A status paper would be brought out within six months, giving a detailed analysis of the situation and a road map for curtailing the overall public debt. This would be followed by an annual report on the subject.

The Finance Minister expressed the hope that a broad consensus would be achieved on the Direct Tax Code and the Goods and Service Tax (GST) and these would be introduced from April 2011.

The Finance Minister said that a number of steps have been taken to simplify the Foreign Direct Investment (FDI) regime. The government also intends to make the FDI policy user-friendly by consolidating all prior regulations and guidelines into one comprehensive document. This would enhance clarity and predictability of our FDI policy to foreign investors, he said.

With a view to strengthen and institutionalize the mechanism for maintaining financial stability, Government has decided to set up an apex-level Financial Stability and Development Council. It would monitor macro prudential supervision of the economy, including the functioning of large financial conglomerates.

Towards strengthening the banking system, the Budget provides Rs.16500 crore as Tier-I capital. It would ensure that the Public Sector Banks are able to attain a minimum 8 per cent Tier-I Capital by March 2011. Further capital would also be infused into the Regional Rural Banks (RRBs). The Minister also informed that the RBI is considering giving some additional banking licenses to private sector players. Non Banking Financial Companies could also be considered, if they meet the RBI’s eligibility criteria.

A four-pronged strategy would be followed to spur growth in agriculture sector. The elements of the strategy are (a) agricultural production; (b) reduction in wastage of produce; (c) credit support to farmers; and (d) a thrust to the food processing sector.

The Budget provides Rs.400 crore for extending the green revolution to the eastern region of the country comprising Bihar, Chattisgarh, Jharkhand, Eastern UP, West Bengal and Orissa, with the active involvement of Gram Sabhas and the farming families.

60,000 ‘pulses and oil seed villages’ will be organized in rainfed areas with an outlay of Rs.300 crore during 2010-11. This will provide water harvesting, watershed management and soil health facilities to enhance to productivity of dryland farming areas. Another Rs.200 crore have been provided in the Budget for conservation farming.

To improve the storage capacity of food grains, Food Corporation of India is being allowed to hire godowns from private parties for a guaranteed period of seven years. This period so far was five years.

The target for farm credit is being raised to Rs.3,75,000 crore in 2010-11 from Rs.3,25,000 crore in the current year.

The period for repayment of loans under the Debt Waiver and Debt Relief Scheme is being extended by six months to June 30,2010.

The interest subvention for timely repayment of crop loans is being raised from 1 per cent to 2 per cent. Thus, the effective rate of interest for crop loans for farmers who repay their crop loan as per schedule will now be 5 per cent per year.

Five more Mega Food Parks will be set up in addition to the 10 already being established. External Commercial Borrowings will henceforth be available for cold storage, farm level pre-cooling and preservation and storage of agricultural and allied produce marine products and meat.

The Budget provides Rs.1,73,552 crore for infrastructure, accounting for over 46 per cent of the total Plan allocation.

The allocation for road transport is being increased by over 13 per cent from Rs 17,520 crore to Rs.19,894 crore.

Disbursement for infrastructure by India Infrastructure Finance Company Ltd(IIFCL) is expected to reach Rs.20,000 crore in 2010-11 as against Rs.9,000 crore this year. Refinancing of bank landing to infrastructure projects by IIFCL is expected to be more than double in 2010-11.

The Plan allocation for power sector is being more than doubled from Rs.2,230 crore in 2009-10 to Rs.5,130 crore in 2010-11.

A Coal Regulatory Authority is proposed to be set up for creating level playing field in the coal sector and resolving various issues.

The Plan outlay for New and Renewal Energy Ministry is being increased by 61 per cent from Rs. 620 crore to Rs.1,000 crore, especially to support the ambitious solar energy programme.

Stating that inclusive development is an act of faith for the UPA government, the Finance Minister said that after the Right to Information, Right to Work and Right to Education, the government is now ready with the draft Food Security Bill. A sums of Rs.1,37,674 crore, representing 37 per cent of the total outlay, will be spent on social sector programmes.

Plan Allocation for school education is being increased from Rs.26,800 crore to Rs.31,036 crore to support the children’s rights to free and compulsory education. In addition, States will have an access to Rs. 3,675 crore for elementary education under the Finance Commission grant for 2010-11.

It has been decided to provide appropriate banking facilities to habitations having population in excess of 2000 by March 2012. It is also proposed to extend insurance and other services to the targeted beneficiaries. These provisions are expected to cover 60,000 habitations.

Rs.66,100 crore have been provided for Rural Development. Mahatma Gandhi National Rural Employment Guarantee Scheme gets Rs.40,100 crore and Bharat Nirman Programme, Rs.48,000 crore.

Indira Awas Yojana gets Rs.10,000 crore. The unit cost under this scheme is being raised to Rs.45,000 in plain areas and Rs.48500 in hilly areas to cover the increase in cost of construction of houses.

The allocation to Backward Region Grant Fund is being enhanced by 26 per cent from Rs.5,800 crore to Rs.7,300 crore. An additional Central assistance of Rs.1,200 crore is being provided for drought mitigation in the Bundelkhand region.

Swarna Jayanti Shahari Rozgar Yojana gets 75 per cent increase in allocation from Rs.3,060 crore to Rs.5,400 crore. In addition, the allocation for Housing and Urban Poverty Alleviation is also being raised from Rs.850 crore to Rs.1,000 crore in 2010-11.

The 1 per cent interest subvention on housing loans upto Rs.10 lakh (where the cost of the house does not exceed Rs.20 lakh) provided in the Budget for 2009-10 has been extended by another year.

Rajiv Awas Yojana, a scheme for housing to slum dwellers and urban poor, gets a huge jump in allocation from Rs.150 crore last year to Rs.1,270 crore in 2010-11.

It has been decided to set up a National Social Security Fund for unorganized sector workers with an initial allocation of Rs.1,000 crore. This fund will support schemes for weavers, toddy tappers, rickshaw pullers, bidi workers etc.

The Rashtriya Swasthya Bima Joyana is being extended to all Mahatma Gandhi NREGA beneficiaries who have worked for more than 15 days during the preceding financial year.

The Swavalamban initiative started last year, under which the government contributes Rs.1,000 per year to each New Pension Scheme (NPS) account, will now be available for another three years.

Plan outlay for Women and Child Development is being stepped up by 50 per cent. A Mahila Kisan Sashaktikaran Pariyojana is being launched to meet the specific needs of women farmers.

The Plan outlay of Ministry of Social Justice and Empowerment gets a boost of 80 per cent to Rs.4,500 crore. Besides supporting the programmes for the target beneficiaries, the Ministry will be able to raise the rates for scholarship schemes for SC and OBC students. Similarly, the Ministry of Minority Affairs allocation has been raised by 50 per cent to Rs.2,600 crore.

STRENGTHENING TRANSPARENCY AND PUBLIC ACCOUNTABILITY

The government proposes to set up a Financial Sector Legislative Reforms Commission to rewrite and clean up the financial sector laws to bring them in line with the requirements of the sector.

Rs.1,900 crore has been allocated for the Unique Identification Authority of India.

A Technology Advisory Group for Unique Projects (TAGUP) is proposed to be set up under the Chairmanship of Shri Nandan Nilekani for creation of reliable and secure IT projects.

Defence gets an allocation of Rs.1,47,344 crore. As a one time confidence building measure in Jammu and Kashmir about 2000 youths will be recruited as constable in five Central Para-Military forces in 2010. Adequate funds will be made available to support the action plan to be prepared by the Planning Commission for development of 33 left wing extremist affected districts.

An Independent Evaluation Office is to be set up to undertake impartial and objective assessment of various public programmes and improve the effectiveness of public interventions in Planning Commission.

A National Mission for Delivery of Justice and Legal Reforms is also to be set up.

TAX PROPOSALS

The Finance Minister emphasized the need for continued Tax Reforms. The Tax Returns form are being simplified and the Income Tax Department is now ready to notify Saral-2 forms for individual salary tax payers. The Sevottam project started in four cities to provide a single window system for registration and grievance redressal will be extended to four more cities. Two more centres will be opened for bulk processing of Tax Returns. The Indirect Tax Administrations are being revamped to achieve the roll out of Goods and Services Tax (GST). Rs.1133 crore have been budgeted for a mission mode project to achieve this.

Major relief has been provided to individual tax payers by enhancing exemption limit and reducing tax in different slabs of personal income.. Deduction of an additional amount of Rs.20000 for investment in long term infrastructure bonds will be available in addition to the existing limit of Rs.1 lakh available for specified savings.

The surcharge on domestic companies is being reduced from 10 per cent to 7.5 per cent. However, the minimum alternate tax (MAT) is being increased from 15 per cent to 18 per cent.

Exemptions and deductions have been provided to increase spending on research.

The investment linked deduction to new hotels of two star category and above is being extended to give boost to investment in Tourism sector.

A one time interim relief is being provided to the housing and real estate sector by allowing pending projects to be completed within a period of five years instead of four years for claiming a deduction on their profits.

The Finance Minister has proposed to partially roll back the rate deduction in Central Excise duties and enhance the standard rate on all non-petroleum products from 8 per cent to 10 per cent ad valorem. The specific rates of duty applicable to Portland cement and cement clinker are also being adjusted upwards proportionately. Similarly, the ad valorem component of excise duty on large cars, multi-utility vehicles and sports utility vehicles which was reduced as part of the first stimulus package, is being increased by 2 percentage points to 22 per cent.

The basic duty of 5 per cent on crude petroleum; 7.5 per cent on diesel and petrol and 10 per cent on other refined products is being enhanced. The Central Excise Duty on petrol and diesel is being enhanced by Rs.1 per litre.

Excise duty on non-smoking tobacco is being enhanced. In addition a compounded levy scheme is being introduced by chewing tobacco and branded unmanufactured tobacco based on the capacity of pouch making machines.

A number of duty concessions are being proposed to support agriculture and allied sector. Mechanised handling systems in warehouses will get project import status with a concessional import duty of 5 per cent. Installation and commissioning of such equipment will be fully exempt from service tax. Concessional duty will also be applicable for cold storages, food processing units, specified equipment for food preservation etc. The concessional import duty to specified machinery for use in the plantation sector is being further extended upto March 2011. Testing and certification of agricultural seed is being exempt from service tax.

Tax exemptions have been announced for equipment used in solar systems and wind energy system, LED lights, electric cars, cycle rickshaw, mobile phone components and certain medical equipment.

The rate of tax on services has been retained at 10 per cent.

The Budget Estimates 2010-11 provides for a total expenditure of Rs. 11,08,749 crore. Out of this, Rs 3,73,092 crore is plan expenditure and Rs.7,35,657 crore is non-plan expenditure. The plan expenditure has increased by 15 per cent while there is only 6 per cent in increase in non-plan expenditure.

The total receipt are estimate Rs.7,46,651 crore.

The Fiscal deficit is pegged at 5.5 per cent. In the Medium Term Fiscal Policy Statement being presented along with other Budget documents in the House today, the rolling targets for fiscal deficit are pegged at 4.8 per cent and 4.1 per cent for 2011-12 and 2012-13, respectively. These projections improve upon the recommendations of the Thirteenth Finance Commission.