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Thursday, 28 Feb 2013
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 Budget India 2013-14: Highlights
Budget Highlights - 2013-14 - ProjectsToday


The finance minister has peppered his 8th Budget with some measures to please all sections of the society. Though the primary worry of the FM was to keep the Fiscal Deficit under 5 per cent during 2013-14, he has allocated good amount of money on developmental projects. Below we have presented some of the major measures mentioned in the Budget vis-à-vis major sectors, where project investment on large scale is awaiting to be implemented.

 

  INFRASTRUCTURE
     
     
  Rupee - ProjectsToday Some institutions can issue tax free bonds up to Rs 50,000 crore for infrastructure
 
  Rupee - ProjectsToday

Infrastructure debt fund (IDF) proposed for investment in infrastructure

  Rupee - ProjectsToday India Infrastructure Finance Corporation (IIFC), in partnership with ADB will help infrastructure companies to access bond market to tap long term funds
 
  Rupee - ProjectsToday 3000 km of road projects will be awarded in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh in first six months of FY14
 
  Rupee - ProjectsToday Regulatory authority for the road sector proposed
 
  Rupee - ProjectsToday Two new ports will be set up in West Bengal and Andhra Pradesh to add 100 million tonne of capacity
  Rupee - ProjectsToday A new outer harbour will be developed in the VOC port at Thoothukkudi, Tamil Nadu through PPP at an estimated cost of Rs 7,500 crore to add 42 million tonne of capacity
 
  Rupee - ProjectsToday Minister of Water Resources will move a Bill in Parliament to declare the Lakhipur - Bhanga stretch of river Barak in Assam as the sixth national waterway
 
  Rupee - ProjectsToday Zero excise duty on import of ships and vessels
  Rupee - ProjectsToday No countervailing duty (CVD) on imported ships and vessels
  Rupee - ProjectsToday Reduction of tax on interest in respect of investment made through a designated bank account in Rupee dominated long term infrastructure bond from 20 percent to 5 per cent
 

  POWER
     
     
  Rupee - ProjectsToday Tax holiday for power plants under section 80-IA of the Income-tax Act extended to March 2014
 
  Rupee - ProjectsToday Rs 226 crore provided for Power transmission system from Srinagar to Leh
  Rupee - ProjectsToday Rs 800 crore proposed to the Ministry of Non Renewable Energy for re-introducing the Generation based incentives for wind energy projects
 
  Rupee - ProjectsToday Low cost finance provided for viable renewable energy projects
  Rupee - ProjectsToday Duties on steam coal and bituminous coal, both of which are used in thermal power stations, have been equalized and now a 2 per cent customs duty and 2 per cent countervailing duty (CVD) is to be levied on both kinds of coal
 

  HOUSING & REAL ESTATE
     
     
  Rupee - ProjectsToday Urban Housing fund to be set up by National Housing Bank, Rs 2,000 crore proposed for the fund
 
  Rupee - ProjectsToday Housing loans up to Rs 25,00,000 during the period 1.4.2013 to 31.3.2014 to be entitled to an additional deduction of interest up to Rs 1,00,000
 
  Rupee - ProjectsToday Rural housing to get Rs 6,000 crore
 
  Rupee - ProjectsToday One per cent TDS on the value of the transfer of immovable property where the consideration exceeds Rs 50 lakh
 

  TEXTILE & APPAREL
     
     
  Rupee - ProjectsToday Rs 96 crore in 2013-14 for Ministry of Textiles for Interest Subvention
 
  Rupee - ProjectsToday Technology Upgradation Fund Scheme (TUFS) for textile with an investment target of Rs 1,51,000 crore in the 12th Five Year Plan. Rs 2,400 crore proposed for 2013-14 for textile technology upgradation
 
  Rupee - ProjectsToday Duty on specified machinery for manufacture of leather and leather goods reduced from 7.5 per cent to 5 per cent
 
  Rupee - ProjectsToday Zero excise duty route' for cotton and spun yarn sector at the yarn, fabric and garment stages in addition to the already available CENVAT route
 
  Rupee - ProjectsToday Zero duty for cotton at fibre stage
  Rupee - ProjectsToday Working capital and term loans at a concessional interest of 6 per cent for the Handloom sector
  Rupee - ProjectsToday Proposal to set up Apparel Parks within Scheme for Integrated Textile Parks (SITPs) to house apparel manufacturing units
 
  Rupee - ProjectsToday Allocation of Rs 50 crore to the Ministry of Textiles for providing an additional grant of up to Rs 10 crore to each Integrated Textile Park
 

  COAL
     
     
  Rupee - ProjectsToday A PPP policy framework with Coal India in the pipeline to increase the production of coal for supply to power producers and other consumers.
 
  Rupee - ProjectsToday Adoption of a pooled pricing policy for coal
 

  AUTOMOBILE
     
     
  Rupee - ProjectsToday Hike in import duty on luxury cars from 75 per cent to 100 per cent
 
  Rupee - ProjectsToday Custom duty on imported motor vehicles hiked
  Rupee - ProjectsToday Concession period extended for specified parts of electric and hybrid vehicles up to 31.3.2015 to encourage manufacture of environment-friendly vehicles
 

  OIL & GAS
     
     
  Rupee - ProjectsToday Natural Gas pricing policy to be reviewed
 
  Rupee - ProjectsToday On oil and gas exploration policy, the Budget proposes to move from the present profit sharing mechanism to a revenue sharing contracts
 
  Rupee - ProjectsToday A policy to encourage exploration and production of shale gas will be announced
 
  Rupee - ProjectsToday NELP blocks that were awarded but are stalled will be cleared
 
  MANUFACTURING
     
     
  Rupee - ProjectsToday 15 per cent investment allowance to a manufacturing company that invests more than Rs 100 crore in plant and machinery during the period 1.4.2013 to 31.3.2015
 
  Rupee - ProjectsToday 15 per cent of concessional rate of tax on dividend received by an Indian company from its foreign subsidiary to be continued for one more year
 
  Rupee - ProjectsToday Step taken for rolling out GST by setting apart a sum of Rs 9,000 crore towards the first installment of the balance of CST compensation
 
  Rupee - ProjectsToday Certain concessions extended to the aircraft manufacture, repair and overhaul industry, which is referred to as the MRO industry
 
  Rupee - ProjectsToday Provision of appropriate incentives to semiconductor wafer fab manufacturing facilities, including zero customs duty for plant and machinery
 
 

 

 
 

Quotes of the week:

Devi Shetty - ProjectsToday   " It is a very very disappointing Budget. There was nothing for the healthcare sector. Today, people in India have to buy healthcare like they buy food or power. What the government could have done is to at least reduce the cost of healthcare. But though every other sector got something in the Budget, there was absolutely no support to healthcare."

Devi Shetty, Founder, Narayana Hrudayalaya

Nitin Kumar - ProjectsToday
 
  "We welcome the finance minister’s decision to set new parameters for according special status to Bihar. The centre has agreed to continue giving assistance through the Backward Regions Grant Fund. Allocation for the second green revolution in the east has been increased. But it is not enough."

Nitish Kumar, CM, Bihar

Vinita Bali - ProjectsToday   "Overall, it is a responsible Budget. The imperative, however, is timely implementation of all proposals."

Vinita Bali, MD & CEO, Britannia Industries
 
 
 
 

 

 
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