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INTRODUCTIONBUDGET 2010-2011

Pranab Mukherjee, Minister of Finance

(February 26, 2010)

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MAIN FOCUS AREA

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Growth is only as important as what it enables us to

do and be.

Indian economynow is in a far better positionthan it

was a year ago. That is notto saythatthe challenges

today are anyless thanwhattheywere nine months

ago.

Government concentrates on supporting and

delivering services tothe disadvantaged sections of

the society.

With development and economic reforms, the focus

of economic activityhas shifted towards the non-

governmental actors, bringing into sharper focus the

role ofGovernment as an enabler.

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Income Tax Slabs for F.Y 2010

- 2011

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Income Tax Slabs 2010-2011

for Men Income: upto 1.6 lacs no income tax

Income : 1.6 lacs to 3 lacs 10 %

Income : 5 lacs to 8 lacs 20 %

Income : above 8 lacs 30 %

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Income Tax Slabs 2010- 2011

or Women Income : upto 1.9 lacs NO TAX

Income : 1.9 lacs to 3 lacs 10 %

Income : 5 lacs to 8 lacs 20 %

Income : above 8 lacs 30 %

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Railway Budget 2010-11

Highlights:

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Highlights..

Launch of double-decker trains.

Railways to continue as a government owned sector and notto be privatized.

117 trains have been launched by the railways out of 120trains declared in the previous budget.

Freight taxes not to witness any hike.

Aspirants can give railway examinations in their provinciallanguages.

Railways would introduce an exclusive train duringCommonwealth Games 2010.

Railways to initiate mobile and e-ticketing counters at IIMs,universities, IITs, hospitals and village panchayats.

Railways will grant accommodations to its staff members inassociation with the Urban Development Ministry in thecoming 10 years

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Continue Grant to central staff benefit fund will be hiked by Railways

Ten automobiles centers to be initiated by Railways

On the basis of availability of land, Railways is lookingforward to develop Diesel Multiple Unit plant in state ofWest Bengal.

Profits from other Railways businesses are expected towitness an elevation of Rs 1,000 crore against the presentRs 150 crore.

Railways are expected to increase cargo loading goal in theFY 2010 by eight mn tones.

Railways to revamp 93 railway stations in the country. Railways to introduce previously employed workforce into

railway security department.

Railways to build passenger corridors committed to highspeed

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Continue..

Initiation of National High Speed Rail Authority

Initiation of sports universities by Railways and introductionof railway allowances for sportsmen.

Development of RFID machinery for cargo transfer

Railways to increase total revenue to Rs 20,000 crore by2011 against the present Rs 10,000 crore

Railways to remove exam fees for underprivileged section ofsociety.

Railways to lay more tracks for better connectivity.

Railways to introduce new 10 year plan - 'Vision 2020' andground-breaking methods for sponsoring projects.

Railways to initiate 6 water bottling units in Nasik, Farakka,Ambala, Amethi, Thiruvananthapuram.

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Budget ahead, food inflation

reigns at 17.58 percent

Ahead of the annual budget to be presented in

parliament, the country's food inflation fallsmarginally, but still reigns at 17.58 percent for theweek ended Feb 13, from 17.97 the week before.The official data came Thursday - on a day whenthe government came under severe attack in

Parliament on the price rise debate that sawacrimonious exchanges in both the Houses.

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Prices of essential items continued to move up, with

vegetables dearer by 13.57 percent, potatoes by 30.4percent, pulses by 35.74 percent and fruits by 12.08percent over the 52-week period, official data releasedby the commerce and industry ministry showed.

The limited data on wholesale price index showed a fall

in the index for primary articles by 15.84 percent, whilethat for Fuel, Power, Light & Lubricants remained at lastweek's level of 9.89 percent.

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The Finance Minister said that the measurestaken by the government to tame inflation willtake some time to have their effect and thatthe country would see a moderate rate ofinflation in the next two months.

The pressure of the continuing upwardmovement of food prices has also forced the

government to postpone a decision on aproposed fuel price hike.

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The price rise of someessential food items

overthe 52-weekperiod:

- Pulses: 35.74 percent- Potatoes: 30.4 percent- Vegetables: 13.57 percent- Wheat: 14.93 percent- Rice: 9.5 percent

- Onions: 12.46 percent- Milk: 14.16 percent- Fruits: 12.08 percent.