India Budget 2010 Highlights

Here are the Highlights and Live Coverage of Budget 2010.

RBI to give more banking licenses, NBFCs may also be considered.
Kirit Parekh committee’s recommendations on Oil Prices to be taken in due course.
Coal: competitive bidding for captive blocks to be introduced.
Allocation for development of micro and small scale sector raised from Rs 1,794 crore to Rs 2,400 crore.
Tax Proposals: MAT increased to 18% of book profit
Tax Proposals: Realtors get 5 yrs instead of 4 yrs now to finish current projects liable for tax benifits.
Tax Proposal: Excise duty up by Re 1 per litre on petrol. – Opposition Walks Out
Tax Proposals: Exemption limit kept at Rs 1.6 Lakh Tax Slabs Changed 10% till 500,000, 20% between 5 Lakh and 8 Lak and 30% over 8 Lakh
Tax Proposal: New direct tax proposals to result in loss of Rs 26,000 Cr; indirect tax changes to yield gain of Rs 45,000 Cr.