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16.3.2012
Budget for 2012-13
http://indiabudget.nic.in/ub2012-13/bh/bh1.pdf

Total tax receipts: Rs. 10,77,612 cr
Net to Centre: Rs. 7,71,071 crore
Non tax revenue: Rs. 1,64,614
Non debt capital receipts; Rs. 41,650 crore
Total expenditure budgeted Rs. 14,90,925 crore  = Rs. 14.9 lakh crore
net market borrowing: Rs.4.79 lakh crores
Estimated fiscal deficit: 5.1% of GDP

GDP for 2011-12 - May 2012
http://mospi.nic.in/mospi_new/upload/NAD_Press_Note_31may12.pdf

GDP at factor cost in current prices is Rs. 82,32,652 crore =  Rs.82.32 lakh crores
Per capital income of India is for the year 2011-12 Rs. 60,603 per annum = Rs. 5000 per month.

16.4.2011
India Growing Higher Than China - It Started
India growth in 2010 10.4%; China's growth 10.3%  IMF stats.




1.3.2011
Budget proposals for 2011-12
No tax income limit increased to Rs 1,80,000 from  Rs 1,60,000 giving uniform tax relief of Rs 2,000.
Current surcharge of 7.5 per cent on domestic companies proposed to be reduced to 5 per cent.
Rate of Minimum Alternative Tax proposed to be increased from 18 per cent to 18.5 per cent of book profits.

More details rediff coverage


January 2011

India Economy January 2011 - Ficci Report
http://www.ficci.com/indian-economy.pdf

1 .1 .2011

Industry Policy to be unveiled with plans to create 100 million (10 crore) jobs.

The industry ministry is drafting a policy in consultation with planning commission and National Manufacturing Competitiveness Council. The final policy may be announced by late January or early February. (The Economic Times, 31.12.2010, page 21)

Indian Economy Growth Estimates for 2010-11

IT sector to employ 10 million (one crore) people by 2020

IT sector has grown from $4billion in 2000 to $62 billion in 2010 showing 22% compound annual growth rate. Nasscom is projecting revenue of $225 billion by 2020. And the IT sector is expected to employ 10 million people. Presently it is employing 2 million persons. Infosys is employing around 125,000.(The ET, 31.12.2010, p.7) 

According to US Census Bureau projections, India will have 1.396 billion and China will have 1.394 billion in 2025. Further India's population would to grow to 1.656 billion by 2050, while China will have a drop in the number to 1.303 billion. (The ET, 31.12.2010, p.21)

Foundation Stone Laid for  500 MW Solar Park in Gujarat

Foundation stone was laid for 2,000 hectare solar park near Charanka village of Patan District in Gujarat.  It is expected to produce 500 MW of power. Gujarat Power Corporation is the nodal agency to establish, operate and maintain the park. (The Times of India, 1.1.2011, p.17)

Indian Economy Growth Estimates for 2010-11

Economist Intelligence Unit Forecast

7.7% for 2010-11 and 8% for 2011-12 (ET, 17.3.2010, p.13)

Budget 2008-09 Highlights

Changes in I-T slab. Threshold of exemption for all Income Tax assesses raised from from Rs 1,10,000 to Rs 1,50,000.

New tax slabs will be: 10 per cent for Rs 150,000 to Rs 300,000, 20 per cent for Rs 300,000 to Rs 500,000 and 30 per cent above Rs 500,000.

Short-term capital gains increases to 15 per cent.

Plan expenditure fixed at Rs 2,43,000 crore and non plan expenditure at 5,74,000 crore.

General Centvat on all goods to be reduced from 16 per cent to 14 per cent.

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