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Friday, 22 Feb 2013
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  Budget 2013-14: Expectations of India Inc.
Budget Expectation - 2013-14 - ProjectsToday
 
INFRASTRUCTURE
Rupee - ProjectsToday Priority sector lending status for infrastructure sector to reduce the cost of debt
 
Rupee - ProjectsToday

An independent regulatory authority for Roads and Highways sectors in India

Rupee - ProjectsToday A multi-disciplinary autonomous body, National Environment Assessment and Monitoring Authority for expediting green clearances
Rupee - ProjectsToday Granting infrastructure status to shipping industry
Rupee - ProjectsToday Exemption of MAT for infrastructure sector during 80IA period
 
Rupee - ProjectsToday National Investment Board (NIB) for complex issues and accelerating decision-making
Rupee - ProjectsToday Allow private Airport Operators to issue long term non-taxable infrastructure bonds
 
Rupee - ProjectsToday Tax concessions for cross-country pipelines

CEMENT
Rupee - ProjectsToday Reduction in excise duty from 12 per cent
 
Rupee - ProjectsToday Cenvat credit on Clean Energy Cess to mitigate cost
Rupee - ProjectsToday Declared goods status, in line with other infrastructure products like coal and steel.
Rupee - ProjectsToday Levy basic customs duty on cement imports

TEXTILES
Rupee - ProjectsToday Reduce excise duty on man-made fibres to 4 per cent
 
Rupee - ProjectsToday Hike customs duty on synthetic fibre

POWER
Rupee - ProjectsToday Extension of Open General Licence (OGL) scheme for import of power from neighboring countries at nil import duty
 
Rupee - ProjectsToday Mega Power Policy should be tweaked to mandate supply of power within three years from start of coal supply and not three years from the issue of provisional mega certificate
Rupee - ProjectsToday Financial incentives for hydro Projects
Rupee - ProjectsToday Extension of tax holiday for power sector by five years
Rupee - ProjectsToday Exemption from dividend distribution tax for special purpose vehicles
Rupee - ProjectsToday Provision of low cost funds to Solar Energy Projects
Rupee - ProjectsToday Tax holiday of 10 years on solar power projects under section 80 I(A) of Income Tax act
Rupee - ProjectsToday Removal of renewable energy projects from power sector and treat Renewable Energy sector as an independent sector
Rupee - ProjectsToday Priority sector lending for renewable energy sector
Rupee - ProjectsToday

Energy security policy for, conveying use of portfolios, basket of fuels and development of renewable energy


OIL & GAS
Rupee - ProjectsToday Tax Holidays for Exploration and Production activities relating to Natural Gas including Coal Bed Methane
 
Rupee - ProjectsToday Tax break by categorising gas as declared goods
Rupee - ProjectsToday Expansion of scope of “undertaking” for the purpose of a tax holiday to include development of additional fields under a single Production Sharing Contract
Rupee - ProjectsToday Include exploration and refining activities in the infrastructure sector, thereby enabling 10 year tax holiday
Rupee - ProjectsToday Weighted deduction of expenditure on drilling and exploration activities
Rupee - ProjectsToday Customs duty exemption for LNG used for power generation
Rupee - ProjectsToday

Increase in gas prices to incentivise oil and gas majors to undertake new exploration to increase gas production in the country


STEEL & OTHER METALS
Rupee - ProjectsToday Customs duty exemption on coal used in Iron & Steel industry
 
Rupee - ProjectsToday Inclusion of shearing, splitting and annealing as manufacturing activity under the Central Excise Act
Rupee - ProjectsToday Removal of steel products from the ambit of Free Trade Agreement
Rupee - ProjectsToday Reduction of import duty on graphite electrodes and refractory materials, steel grade limestone, dolemite, manganese chrome ore and natural gas used by steel industry
Rupee - ProjectsToday Increase drawback rates on color-coated sheets and pipes
Rupee - ProjectsToday Increase basic import duty on aluminum products from 5 per cent to 10 per cent
Rupee - ProjectsToday Impose export duty on bauxite
Rupee - ProjectsToday Exempt gold and silver content in copper concentrate from import duty

TOURISM
Rupee - ProjectsToday Include hotel projects as infrastructure Projects
 
Rupee - ProjectsToday Industry status for tourism
HOUSING & REAL ESTATE
Rupee - ProjectsToday Infrastructure status for affordable and low-cost housing
 
Rupee - ProjectsToday Deduction of interest rate on borrowed capital
AUTOMOBILE
Rupee - ProjectsToday Reduction in the excise duty on two-wheelers and cars
 
Rupee - ProjectsToday Increase depreciation on commercial vehicles from 40 per cent to 60 per cent
Rupee - ProjectsToday Increase duty on imported commercial vehicles from the current 10 per cent to 40 per cent
 
Rupee - ProjectsToday Uniform taxation on components that go into manufacturing vehicles
 
Rupee - ProjectsToday Customs duty on tyres to be increased from 10 per cent to 20 per cent
 
Rupee - ProjectsToday As the Automobile industry involves large scale manufacturing at various levels, early introduction of GST to streamline taxation process
 
Rupee - ProjectsToday Tax differentials between small and bigger cars to be narrowed
 

 

 

Quote of the week:

Adi Godrej - ProjectsToday   "Budget 2013 can power the growth drivers of the economy in coming years, taking the GDP rate back to its trend line of 8% ."

Adi B. Godrej, Chairman, Godrej Group
SOURCE:

CII, FICCI and ASSOCHAM




 
 
 
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