General Budget 2011

General Budget 2011 was presented on Monday, 28th Feb 2011 by Hon'ble Finance Minister Mr. Pranab Mukherjee.

Some Highlights of the General Budget are as follows:

• Market borrowing for 2011-12 seen at Rs 3.43 trillion
• Revised gross market borrowing for 2010-11 at Rs 4.47 trillion
• Total expenditure in 2011-12 seen at 12.58 trillion rupees
• Plan expenditure seen at Rs 4.41 trillion in 2011-12, up 18.3 percent
• Gross tax receipts seen at Rs 9.32 trillion in 2011-12
• Corporate tax receipts seen at Rs 3.6 trillion in 2011-12
• Personal income tax exemption limit raised to Rs 180,000
• Surcharge on domestic companies raised to 5 percent
• Customs revenue seen at Rs 1.52 trillion in 2011-12
• Factory gate duties seen at Rs 1.64 trillion in 2011-12
• Non-tax revenue seen at Rs 1.25 trillion in 2011-12
• Service tax receipts seen at Rs 82,000 crore in 2011-12
• Inflation seen at 5 percent in 2011-12
• Economy expected to grow at 9 percent in 2012, plus or minus 0.25 percent
• Standard rate of excise duty held at 10 percent
• Service tax rate held at 10 percent
• Disinvestment in 2011-12 seen at Rs 400 billion

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Haider Ajaz