A scheme similar to TUFS will be introduced for the handloom sector.
50 handicraft villages to be identified for foreign tourists.
Countervailing duty of 4% on all imports of excisable goods.
To levy countervailing duty of 4% on oil imports.
Import duty on paraxylene cut to 2%.
Duty on leather footware cut.
Service tax rate hiked 12% from 10%.
IT, Customs & Revenue Depts will be fully computerised.
Duty on Naphtha for plastics down to 0% Duty on mineral products reduced to 5%
Customs duty on manmade fibres down to 10% from 15%.
Non plan expenditure up by about 3 percent.
Planned expenditure Rs172278 cr.
Govt not financing plans through borrowing - Gross Fiscal deficit down.
Tax compliance shows results.
Food, fertilisers and Petroleum Subsidies divisive
Traditional Arts to be encouraged.
Govt proposed to launch the Jute Technology mission in 2006-07 to harvest the potential of fibre. A national jute board would be established.
To set up 3 investment regions for oil sector in FY'07.
India to be made manufacturing hub for textile & steel.
I propose to enhance the allocation of Rs. 435 crore to 535 crore next year.
The scheme for the integrated the textile parks was launched in Oct 2005. With intention 25 textile parks & 7 crore being sanctioned & 10 crore identified for the development are proposed to provide Rs. 189 crore for the scheme.
Short term credit to farmers 7.0 % NABARD told to extend refinance with the farmers credit.
Port sector development announced. 37% increase to Rs 700 cr for Shipping sector.
Refinery investment to go up.
Coal Policy on the way.
Five Mega Power Projects announced.
Power sector growth about 4.5%
Ministerial Group for CLUSTER DEVELOPMENT
Tourims linked for promotion of Handlooms
FDI in infrastructure to benefit.
14,300 cr allocated for rural employment.
Savings up 21.9 %
national jute fibre board to be established.
Handloom mart to establish and interest subsidy in handloom sector to go up 195 cr. to 241 cr.
Union Finance Minister P Chidambaram has begun his presentation on Indian union budget 2006-07.
95% of golden quarilateral to be completed.
Expert body to be set up for Gems & Jewelry sector.
Says growth rate up at 7.5 percent manufacturing up 8.5 percent and GDP up 30.1 percent.
Overall growth rate enriched at 7.0 % even as target to achieve 10 % set by PM Manmohan Singh will be aimed at.
Manufacturing growth expected at 9.4% and Economic growth 10%. Agriculture grow back 2.1%. GDP planned target at 8%.
Budget to focus on 8 point NDA development program. .
marketing@alchempro.com
