Union Budget 2012

[sob]

i think instead of lpg gov must prompt piped delivery of gas . in certain parts of mumbai it has been done and from what i here from my friends there bill has been reduce since it is biiled how much you consumed. in my aera it has yet not been done.du u think piped delievery of gas can reduce gov fiscal . other then that i want gov to reduce fiscal deficit. none of the promise of MR FM on fiscal deficit has come true. and yes also get out of doing business

Anoop, here in Delhi also Govt. is promoting piped Natural Gas (PNG) in a big way and it has covered large parts of Delhi. I feel this is a way to get out of the LPG subsidy mess, but the cost of roll out of this service is very expensive, but in my opinion it is a expense required to be done.

 

[sob]

I want interest rates to be cut. I want availability of loans and capital to be easier.

People have heard you loud and clear,

CRR cut calls gains momentum as RBI fails to prop up liquidity - The Economic Times

Calls for a cut in the cash reserve ratio (CRR) to boost liquidity are gaining momentum as cash payments during state elections, intervention to stabilise the rupee, and slowing loan repayments by companies drain money out of banks.

The RBI, which succeeded in keeping the government's cost of borrowing in check with the so-called open market operations (OMO), hasn't succeeded in easing liquidity pressure on the banking system. In OMOs, the RBI buys bonds, increasing cash in the system.

Banks' borrowing from the Reserve Bank of India's repo window, an indicator of liquidity, rose to Rs 1.70 lakh crore on Tuesday, compared with August 2010 when banks were depositing excess funds with it. This deficit is more than three times the approximate Rs 55,000 crore the RBI has said it is comfortable with.

"We expect a CRR cut of another 50 basis points that would release about Rs 27,000 crore into the system," said Pawan Bajaj, head of treasury at Bank of India.

Any cut in CRR is going to release more money in the market and will put pressure on the banks to lower the Interest Rates.

 

[Mad Indian]

why should there be a raise of income tax slab....???? Will we go on asking to increase the income limit everytime we get more income...???? then what is the reason for growing the economy... its the same thing like asking the paying tax payers to pay more while the those exempted from tax may be freedom from taxes forever



We should ask for a tax scheme which is more equitably distributed, not the progressive taxation BS we have now.....

 

[Mad Indian]

People can pay Rs. 100 extra for an LPG Cylinder. After all a family of four-five would be consuming just 5-6 cylinders per year, so the burden would be only Rs. 500 per family, but the impact on the Union Budget would be much more than raising taxes on these so called luxury items.

You left out the fact that that 500rupees is for only the whole year meaning only 50rupees per month

 

[sob]

It does make sense to invest more on Agriculture for India, India have so much potential that sector, it has about the same or more arable land than China, however, the harvest is less than 1/2 of China.

Food grain production of China in 2011 is 571.21 million ton according bureau of statistic. The data based on 2009 FAO(Food and Agriculture Organization of the United Nations) data is 483.680 metric ton.
国家统计局：今年中国粮食产量创历史新高 突破5.7亿吨 - 新闻中心 - 新华网
Food grain production of India in 2010 according to FAO(Food and Agriculture Organization of the United Nations) data below is 246.774 metric ton. ISo China does not product three time as much as food grain as India, it product between 2-3 time as much grain as India. The number feed almost same as much population due to Indian eat way less meat compare to Chinese. From data I read from Indian Depart of Agriculture, India produce 241.5 metric ton of food crop in 2011.

UN FAO Data on crop production.
http://www.fao.org/docrep/015/am081m/PDF/am081m00b.pdf

India's agriculture has great potential.

Yes India's agriculture sector has huge potential. We need active investment from the Govt. to increase the area under irrigation and also introduction of GM Food.
There is too much hype about GM food. We tend to forget in India that our Green Revolution was based on scientifically producing new strains of wheat and rice.

Also BT cotton has proved to be a big success in India, there is no reason why other crops cannot be covered also.

 

[Mad Indian]

Also we should stop subsidising everything, this involves a lot of bureacratic non sense and redistribution of money from tax payers to non tax payers.....


For instance in my state people are criticising the rise in bus fares, but what they dont realise is that if the prices were not raised up, it would have to be subsidised by the government which again would come back to them indirectly in form of one or the other taxes....???? this is true for everything.... no politician pays those money from his family fortune... its going to be on our heads only either in form of taxes or in form of more borrowing from World banks and IMF

 

[sob]

You left out the fact that that 500rupees is for only the whole year meaning only 50rupees per month

You are correct Doc. Rs. 50 per month is certainly manageable, if you look at the big picture.

 

[sob]

Also we should stop subsidising everything, this involves a lot of bureacratic non sense and redistribution of money from tax payers to non tax payers.....


For instance in my state people are criticising the rise in bus fares, but what they dont realise is that if the prices were not raised up, it would have to be subsidised by the government which again would come back to them indirectly in form of one or the other taxes....???? this is true for everything.... no politician pays those money from his family fortune... its going to be on our heads only either in form of taxes or in form of more borrowing from World banks and IMF

Very well said. We have to understand that the subsidy is borne by us the citizens of the country. Only difference is that it could be in a different form and not be visible to us.

 

[sob]

why should there be a raise of income tax slab....???? Will we go on asking to increase the income limit everytime we get more income...???? then what is the reason for growing the economy... its the same thing like asking the paying tax payers to pay more while the those exempted from tax may be freedom from taxes forever



We should ask for a tax scheme which is more equitably distributed, not the progressive taxation BS we have now.....

The reason Govt. increases the income tax slab are two fold

1. To cope with the rising costs, as it gives more cash in the hands of the taxpayer.
2. To increase consumption demand in the economy.

 

[sob]

House panel may suggest hike in I-T exemption limit - Business - Budget 2012 - ibnlive

A Parliamentary panel will meet on Friday to discuss the report on the Direct Taxes Code (DTC) Bill, which is understood to have favoured raising I-T exemption limit to Rs 3 lakh.
"The Standing Committee on Finance will meet on Friday to discuss the full report on the DTC Bill," sources said.
Last week the meeting of the Committee chaired by senior BJP leader Yashwant Sinha considered the draft of the report on the proposed Bill. But the committee postponed the adoption of the report as certain issues were yet to be resolved.

 

[anoop_mig25]

Anoop, here in Delhi also Govt. is promoting piped Natural Gas (PNG) in a big way and it has covered large parts of Delhi. I feel this is a way to get out of the LPG subsidy mess, but the cost of roll out of this service is very expensive, but in my opinion it is a expense required to be done.

what is bill . i mean which is cheaper to public piped or LGP.??my friends who have piped say they find piped to be cheaper one

 

[Iamanidiot]

@Sob

The government must reintroduce millets back into the populations diet.This will improve nutrition and overall health of a large part of the population and this will also foster a second green revolution in Agriculture.

 

[nrj]

Subsidies are putting too much stress on national budget. These perks should be completely abolished or redesigned. People should get ready to pay more for liquid petroleum gas.

 

[sob]

what is bill . i mean which is cheaper to public piped or LGP.??my friends who have piped say they find piped to be cheaper one

The bills are in slab. If you consume upto 30 scm in a period of 60 days then the charge is Rs. 22 per scm, and if consumption is more than the charge is Rs. 34/scm. This way it is good that people who conserve are rewarded with lower charges.

I do not have the conversion figures but as per the IGL chap who installed it, PNG is around 4% cheaper than LPG.

 

[sob]

@Sob

The government must reintroduce millets back into the populations diet.This will improve nutrition and overall health of a large part of the population and this will also foster a second green revolution in Agriculture.

Yes, it is time that Bajra/Millet is promoted in a big way. The advantage is that semi arid land can be used to grow this crop. as it uses very low amount of water. On trips to Rajasthan I enjoy Bajra ki roti with Garlic chutney very much.

 

[sob]

Budget 2012: MPs want IT exemption limit hiked to Rs 5 lakh - The Economic Times

Come join the party

 

[nrj]

Budget 2012: MPs want IT exemption limit hiked to Rs 5 lakh - The Economic Times

Come join the party

That will be a good move. I think salaried employees already have exemption till 5 lakhs.

 

[nrj]

Govt may let foreign individuals directly buy corporate debt

Government is considering allowing individual foreign investors to directly buy corporate debt, a business daily reported, quoting finance ministry officials.

The business daily said on Friday that Finance Minister Pranab Mukherjee would take a final decision on whether to include the proposal in the 2012-13 Union Budget, which will be presented in parliament on March 16.

Ministry official were not immediately available to comment.

India currently allows foreign institutional investors (FIIs) to buy a total of $45 billion of corporate debt. Of this, $25 billion is allocated for infrastructure bonds.

In January this year, India allowed individual foreign investors to buy equities in the hope of boosting foreign capital inflows.

Govt may let foreign individuals directly buy corporate debt

 

[SPIEZ]

I thought the starting was year for salaried people was 1.8 lakhs per annum.

 

[nrj]

This happened last year

http://defenceforumindia.com/econom...ome-up-rs-5-lakh-need-not-pay-tax-return.html