Support 4140/4110/4090/4040/4005/3990
What a Budget Day to remember !!! Nifty showed biggest fall after Satyam Scam in January. We clearly wrote yesterday that, we dont expect any extra benefit from this budget.
With investors reacting , after having more than expectations from this budget, Nifty closed blw crucial level of 4190. Now immediate supports are @ 4090-4040 zone, which if held then we may see some sharp bounce-back, else we may head towards 3600-3335 zone in coming days.
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Union Budget 2009-10 Highlights
• Budget spells out the target for the UPA: To bring back the 9% growth
• Commodities Transaction Tax (CTT) to be scrapped
• 10% surcharge on Personal Income Tax scrapped
• Fringe Benefit Tax (FBT) to be scrapped
• IT exemption limit for Women hiked to Rs 190,000
• IT exemption limit for Senior Citizens hiked to Rs 240,000
• Rs 12000 crore earmarked for expenditure on rural roads in FY 2010
• Drugs related to heart diseases to be cheaper
• Service Tax be now apllicable on law firms
• Bio-diesel custom duty lowered
• Customs Duty on import of Gold and Silver increased
• Branded women's jewellery to be cheaper
• Rs 16300 Crore to be set aside for the upcoming Commonwealth Games
• IITs and NITs to get Rs 2113 crore
• Corporate Tax unchanged
• One rank-one pension scheme to be in place for Ex-Servicemen
• National Ganga Project allocation to go up to Rs 562 Crore
• Unique Identification (UID) project under Nandan M. Nilekani to be out in 12-18 months
• NRHM allocation to be raised by Rs 257 crore
• A national level action plan in place for climate change
• National Employment Exchanges to be modernised
• Interest subsidy for home loans up to 1 lakh
• Indira Awaas Yojna bolstered up by 63% to Rs 8883 crore
• Saral 2 forms to simply tax filing process
• Emphasis on fertiliser subsidy reaching out directly to farmers
• Petroleum price expert panel to set petroleum prices which would be in sync with the global levels
• Rashtriya Krishi Vikas Yojna allocation increased by 30%
• IIFCL, a new company would look into the infrastructure needs
• Extension of farm loan waiver scheme by 6 months
• Allocation of National Highway Authority of India (NHAI) increased by 23%
• Fiscal stimulus at 3.5% of the GDP
• Small scale businesses to be exempted from advance tax
• 50% reduction in the Custom Duty on LCD panels
• Set top boxes to be costlier
• Goods and Services Tax (GST) to be in effect from April, 2010
• Textile units to enjoy continued tax holidays
• Pranab praises the 3 stimulus packages which were rolled out by the UPA to fight the global economic meltdown
• Signals of revival in the domestic market: Pranab Mukherjee
• Commodities Transaction Tax (CTT) to be scrapped
• 10% surcharge on Personal Income Tax scrapped
• Fringe Benefit Tax (FBT) to be scrapped
• IT exemption limit for Women hiked to Rs 190,000
• IT exemption limit for Senior Citizens hiked to Rs 240,000
• Rs 12000 crore earmarked for expenditure on rural roads in FY 2010
• Drugs related to heart diseases to be cheaper
• Service Tax be now apllicable on law firms
• Bio-diesel custom duty lowered
• Customs Duty on import of Gold and Silver increased
• Branded women's jewellery to be cheaper
• Rs 16300 Crore to be set aside for the upcoming Commonwealth Games
• IITs and NITs to get Rs 2113 crore
• Corporate Tax unchanged
• One rank-one pension scheme to be in place for Ex-Servicemen
• National Ganga Project allocation to go up to Rs 562 Crore
• Unique Identification (UID) project under Nandan M. Nilekani to be out in 12-18 months
• NRHM allocation to be raised by Rs 257 crore
• A national level action plan in place for climate change
• National Employment Exchanges to be modernised
• Interest subsidy for home loans up to 1 lakh
• Indira Awaas Yojna bolstered up by 63% to Rs 8883 crore
• Saral 2 forms to simply tax filing process
• Emphasis on fertiliser subsidy reaching out directly to farmers
• Petroleum price expert panel to set petroleum prices which would be in sync with the global levels
• Rashtriya Krishi Vikas Yojna allocation increased by 30%
• IIFCL, a new company would look into the infrastructure needs
• Extension of farm loan waiver scheme by 6 months
• Allocation of National Highway Authority of India (NHAI) increased by 23%
• Fiscal stimulus at 3.5% of the GDP
• Small scale businesses to be exempted from advance tax
• 50% reduction in the Custom Duty on LCD panels
• Set top boxes to be costlier
• Goods and Services Tax (GST) to be in effect from April, 2010
• Textile units to enjoy continued tax holidays
• Pranab praises the 3 stimulus packages which were rolled out by the UPA to fight the global economic meltdown
• Signals of revival in the domestic market: Pranab Mukherjee
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