Indian Budget 2010-2011 has arrived.....Can we expect at least the same kind in Pakistan?

HIGHLIGHTS OF INDIAN BUDGET 2010-2011

• Net gains from indirect taxes Rs 46,500 Crores.
• Account auditing for all income above Rs 15 lacs.
• Rationalisation of customs duty on gaming software..
• Toys exempted from excise duty, to become cheaper....
• Online news agencies to attract service tax......
• Service Tax rates unchanged but more services to be brought under tax net.....
• Customs duty on Gold and Platinum hiked.
• Excise duty on solar panels waived...
• Jewellery to be more expensive......
• CDs to be cheaper......
• Mobile phones to become cheaper.........
• Refrigerators, TVs and ACs, cigarettes and cement to be costlier......
• Peak customs duty unchanged at 10%.
• Excise duty on petrol and diesel raised to Rs 1/litre.
• 5% duty on crude petroleum restored......
• Excise on all non smoking tobacco raised.
• 7.5% duty on petrol and diesel restored.
• Excise on large cars,SUVs, MUV raised to 22%.
• Partial rollback in Excise Duty from 10% to 8%.
• Presumptive tax limit raised to Rs 60 lacs.
• Deduction of Rs 20,000 on investment in infra bonds.
• Weighted deduction on R&D raised to 200% from 150%.
• No tax on Income up to Rs 1.6 lacs.
• Minimum Alternate tax hiked to 18%
• 30% tax on income above Rs 8 lacs.
• 20% tax on income between Rs5 lacs to 8 lacs.
• 10% tax on income between Rs1.6 lacs to 5 lacs.
• FY11 net market borrowings pegged at Rs 3.45 lac Cr.
• IT surcharge withdrawn.
• FY10 budget deficit seen at 6.9% of GDP.
• 20 Kms of highway to be constructed everyday.
• FY12 fiscal deficit target at 4.8%.
• FY13 fiscal deficit target at 4.1%.
• Fiscal deficit target of 5.5% in FY11.
• More than 50% increase in funds for minority welfare.
• 15% rise in planned expenditure.
• Govt to set up National Mission for delivery of justice.
• Defence capex raised to Rs 60000 Cr.
• Gross tax receipts of Rs 7.46 Lac Cr.
• Allocation fund to defence raised to Rs 1.47 lac Cr.
• Skill development programme for textile sector.
• Home loans up to Rs 20 lacs to get intrest subvention of 1% up to March 11.
• Government to contribute Rs 1000 per month for pension security.
• Rs 5400 Cr. allocated for urban development.
• Rs 66100 Cr. allocated for rural development.
• Rs 2400 Cr. for MSMEs.
• Pvt. sector to meet food grain storage deficit.
• Rs 100 Cr. woman farmer fund scheme.
• Rs 1,900 Cr. allocated for UID project.
• Social Security Fund to have corpus of over Rs 1000 Cr.
• National Social Security fund for unorganised workers.
• Intrest subvention for housing loans up to 1 lacs.
• Allocation Package of Rs 1200 Cr. assistance for drought in Bundelkhand.
• NREGA scheme allocation raised to Rs 41000 Cr.
• Budget Allocation to health Rs 22,300 Cr.
• Spend to funds on 'Social Sector' of Rs 1.38 lakh Cr.
• Allocation fund to school education from Rs.26,800 Cr. to Rs.31,036 Cr.
• Allocation fund to power sector of Rs 5130 Cr.
• Allocation fund Rs.200 Cr. for Tamilnadu textile sector.
• Established clean energy fund.
• 25% of plan allocation for rural infrastructure.
• Allotment for renewable energy hiked by 61%.
• Setup Coal regulatory authority.
• Road development hiked to Rs 19894 Cr.
• Rs 1.73 lakh Cr. which is 46% of total plan outlay, reserved for infrastructure development.
• 2% loan subsidy to farmers.
• Farm credit targets increased to Rs 3.75 lakh Cr.
• Payment of Farm loan extended for six months.
• Interest subvention of 2% extended for handicrafts and SMEs.
• Allocation of Rs 3000 Cr. for agricultural impetus.
• Rs 165,000 Cr. additional for bank re-capitalisation.
• Interest subvention for exports, extended for one year.
• Chances of banking licenses to Pvt cos and NBFCs from RBI.
• Foreign direct Investment (FDI) policy to made more user friendly
• Reduce to 'Fertilizer Subsidy'.
• Target of divestment Rs 25,000 Cr.
• GST will implement from 2011
• Plan to implement 'Direct Tax Code' from April 2011
• Strategy to exit for fiscal stimulus
• Review to stimulus packages.
• Significant private investment inflow expected to boost GDP
• Economy can achieve GDP growth of 10%
• Established that FY 2009-10 was a challenging year
• Need to improve food security and healthcare systems
• Indian economy in far better position than last year