Mudget Update 28th feb 2011

CV ALERTS: BUDGET UPDATE: SERVICE TAX AT 10%, CENTRAL EXCISE DUTY AT 10%, BASE RATE ON EXCISE DUTY AT 5% VS 4%.

CV ALERTS: BUDGET UPDATE: IT EXEMPTION LIMIT RAISED TO RS.1.8 LK, MAT RAISED TO 18.5% OF BOOK PROFITS, SURCHARGE ON DOMESTIC COMP CUT TO 5 % VS. 7.5%

BUDGET UPDATE: IT EXEMPTION LIMIT RAISED TO RS 1.8 LAKH FROM RS 1.6 LAKH, SENIOR CITIZEN ELIGIBILTY REDUCED TO 60 YRS, MAT RAISED TO 18.5% OF BOOK PROFITS, SURCHARGE ON DOMESTIC COMPANIES CUT TO 5 PERCENT FROM 7.5 PERCENT

CV ALERTS: BUDGET UPDATE: IT EXEMPTION LIMIT RAISED TO RS 1.8 LAKH FROM RS 1.6 LAKH, SENIOR CITIZEN ELIGIBILTY REDUCED TO 60 YRS, MAT RAISED TO 18.5% OF BOOK PROFITS, SURCHARGE ON DOMESTIC COMPANIES CUT TO 5 PERCENT FROM 7.5 PERCENT.

CV ALERTS: BUDGET UPDATES: TO ALLOCATE 6000CR TO PSU BANKS, 5000 CR TO SIDBI, ALLCATION FOR FARM DEVELOPMENT INCREASED TO 7860 CRS

CV ALERTS: BUDGET UPDATES: FII LIMIT IN CORPORATE BONDS RAISED TO $ 40 BILLION, PROPOSES TO ALLOCATE RS 6000 CR FOR SOME PSU BANKS, PROVIDE RS 2000 CRORE FOR WAREHOUSING FACILITIES

CV ALERTS: BUDGET UPDATES: DTC TO BE EFFECTIVE APRIL 1, 2012; RETAIN DIVESTMENT TARGET OF RS 40,000 CRORE; TO HAVE DIRECT CASH SUBSIDY FOR KEROSENE, FERTILISERS, WORKING ON OIL SUBSIDY PLANS

CV ALERTS: BUDGET UPDATES: TO ALLOCATE 6000CR TO PSU BANKS, 5000 CR TO SIDBI, ALLCATION FOR FARM DEVELOPMENT INCREASED TO 7860