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Suggest You - India Shining - Financial Bill 2006-07; Union Govt. of India
An effective software distribution is first of all about having a good product in hand, and then comes budget, business partners, distributors, resellers and most of all…much of your time and effort. If you have a small-medium software business you probably experience these difficulties almost every day.True, there is no magic solution for this situation, however, fortunately there are some effective tools such as software distribution software that will definitely save you time, money and effort when it involves with your software promotion activity.There are few accurate and effective solutions in the market that automatically submit and distribute your software product/s to hundreds of quality download sites and software directories in just about an hour. A quick calculation shows that the same process could take you about full 14 work days in order to achieve the same result by manually submitting only 1 of your products to that amount of download sites.Benefits of using such solution:(1) Saving Time and effort. (2) Quick Return On (low cost) Investment. (3) Rapidly increasing your install base and eventually – your sales! (4) Your website's links are now exposed to thousands of users on hundreds of download sites bringing more visitors to your site. (5) Many quality inbound links that point at your site, increase your search engine page ranking, brining more quality visitors from the leading search engines.
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PS
The bubble is coming! The bubble is coming! Yeah, right … and so are the aliens, at least those belonging to the Empire of the Rising Sun.In the general order of things, when short-term interest rates of U.S. Treasury bonds exceed long-term rates, market sentiment suggests that the long-term outlook is poor, and that the yields offered by long-term fixed income will continue to fall. This generates an inverted-yield curve, typically an indicator of a pending economic recession. So far, however, there has been no inversion of any consequences in the yield terms of U.S. Treasury bonds as measured from the 91 days through the 30 years redemption periods. In addition, long-term rates are behaving very, very well partially because of the tremendous demand for long-term treasuries that has been coming from places like Japan.Clearly, most real estate investors care about the future of interest rates, and so do most lenders. In the United States, the Treasury yield curve is the first mover of all domestic interest rates and an influential factor in setting global rates. As governments compete with corporations and lending institutions to attract investors in the open financial markets, any bond or debt security that contains greater risk than that of a similar Treasury bond must offer a higher yield. For example, the 30-year mortgage rate historically runs 1% to 2% above the yield on 30-year Treasury bonds. While this is true to a certain extent, it has not influenced the spread between short and long-term rates in the beginning months of 2006. As long-term rates on treasuries are stationary, the recent hikes of interest rates seem to have affected only the short-term bond rates.The Treasury yield curve reflects the cost of U.S. Government’s debt and is, therefore, ultimately a supply-demand phenomenon, central to the Fed’s monetary policy. If the Fed wants to increase rates, it supplies more short-term securities in open market operations. The increas
The following are the proposals announced by Union Finance Minister of India, in the Parliament on 28th Feb. 2006. Changes in Fringe Benefit Tax...as compare to Financial Bill, 2005-2006
Fringe Benefit Tax introduced last year as a revenue raising measure; justified on the principles of horizontal equity and vertical equity; on review, following changes being proposed:
B)Value the benefit in the form of 'tour and travel' at 5 per cent instead of 20 per cent;
C)Value benefit in the form of 'hospitality' and 'use of hotel boarding and lodging facilities', in case of airline companies and shipping industry, at 5 per cent instead of 20 per cent;
D)Exclude expenses on free samples of medicines and of medical equipment distributed to doctors;
E)Exclude expenses incurred on brand ambassador and celebrity endorsement; and
F)Prescribe a threshold of Rs 100,000 under section 115WB(1)(c) so that only a contribution by an employer to an approved superannuation fund in excess of Rs 100,000 per year per employee to attract FBT.
G)Under section 80C there is already exemption up to Rs 100,000 for contribution by an employee to an approved superannuation fund.
H)Effective FBT rate on hospitality reduced to 1.68% from 6.73%.
I)Free sample exclusion from FBT to benefit pharma companies.
Proposals on Direct (Income) -Tax
A)No changes in the rates of personal income tax, which will remain as they are currently.
B)No change in corporate income tax rate.
C)No new taxes on income.
D)One by six scheme for filing of income tax returns has been abolished.
E)Services tax net to be increased which include ATM operations, maintenance and management, share transfers, registration, international air travel excluding economy class, sponsorship other sports events, auctioneers, ship management and travel on cruise.
F)25 per cent across the board increase in securities transaction tax.
G)Cooperative lending banks and rural development banks to be exempted from taxes under Section 80(B).
H)Fixed deposits in scheduled commercial banks with at least five year maturity will get tax exemption for savings under section 80C of Income Tax Act.
I)The Rs 10,000 exemption limit for investment in pension funds under Section 80CCC has been removed but these investments would be brought under Sec.80C subject to a ceiling of Rs 1 lakh.
J)Donations to only religious institutions will be exempted from tax.
K)Minimum alternative tax on corporates increased from 7.5 per cent to 10 per cent.
L)More transactions to come under PAN.
M)Constituency allowances of MLAs to be treated as constituency allowances of MPs for income tax purposes.
N)Banking cash transaction tax introduced last year will continue.
O)Fringe Benefit Tax modified. Threshold limits raised, but FBT will remain as it is justified for ensuring horizontal equity.
P)Minimum alternative tax on corporates increased from 7.5 per cent to 10 per cent.
Proposals on Indirect -Tax
A)Excise duty on cigarettes increased by five per cent.
B)Many tax exemptions in customs and excise to be removed barring SSI.
C)April 1,2010 has been fixed as the date for introduction of goods and services tax.
D)Peak customs duty for non agriculture products reduced from 15 to 12.5 per cent.
E)Customs Duty on primary and non-primary steel and alloy products reduced from 10 per cent to 7.5 per cent.
F)Duties on mineral products reduced from 15 to five per cent, barring some items.
G)Duty on ores and concentrates reduced from five to two per cent.
H)Duty on refractories reduced to 7.5 per cent.
I)Customs duty reduced on ten anti-AIDS drugs and 14 anti-cancer drugs to five per cent.
J)Customs duty on packaging machines reduced from 15 per cent to five per cent.
K)Four per cent countervailing duty on all imports to be levied with few exceptions.
L)Customs duty on bulk plastics reduced from 10 per cent to five per cent.
M)To protect vanaspati industry, customs duty to be increased to 80 per cent on its imports.
N)Import duty on all man made fiber has been reduced from 15 per cent to 10 per cent.
O)Excise duties on man-made fibers and filament yarn reduced from 16 per cent to eight 8 per cent, since it provides growth and employment.
P)Eight per cent special additional duty on aerated soft drinks and small cars withdrawn and they will attract only 16 per cent CENVAT excise duty instead of 24 per cent earlier.
Q)Reduction of duty on footwear priced between Rs 250 and Rs 750 from 16 per cent to eight per cent.
R)Duty on specialized writing paper reduced form 16 to 12 per cent.
S)Excise duty on compact fluorescent lamps reduced from 16 to eight per cent.
T)Cess on domestically produced petroleum crude has been raised from Rs.1800 per tonne to Rs.2500 per tonne but the entire amount to be absorbed by oil producing companies
Other Highlights of General Budgets...Others Proposals
1.The defence budget raised to Rs 89,000 crore (Rs 890 billion) in 2006-07 from Rs 83,000 crore (Rs 830 billion) in the current year. Of this Rs 37,458 crore (Rs 374.58 billion) would be capital expenditure.
2.Rs 100 crore special grant for Punjab Agricultural University as a centre of excellence for its commendable work in agricultural research.
3.500 ITIs to be upgraded in five years. Work has already started in 100 ITIs and would be taken up in the remaining 400 institutes soon. Rs 97 crore (Rs 970 million) allocated in 2006-07.
4.Special assistance of Rs 848 crore (Rs 8.48 billion) for Jammu and Kashmir for its reconstruction fund, including Rs 230 crore (Rs 2.30 billion) for Baglihar project. This will be in addition to 2006-07 state plan of Rs 2,300 crore (Rs 23 billion).
5.Rs 10 crore (Rs 100 million) allocated for preparatory work for celebrating the 150th anniversary of the First War of Independence of 1857 in a befitting manner.
6.To safeguard old art forms, Vedic chanting and Ram Lila have been declared UNESCO heritage and will be granted Rs 5 crore (Rs 50 million).
7.Comprehensive Insurance Regulatory and Development Authority bill to be introduced in 2006-07 incorporating the recommendations of K P Narasimhan Committee on insurance sector revamp. The committee has already submitted its report to government and IRDA is studying its recommendations.
8.An Investors Protection Fund will be set up and funded by fines and penalties to safeguard the interests of retail investors.
9.FII investment limit in stock markets will be raised from $1.75 billion to $2 billion to deepen, strengthen and broaden the market.
10.Raise in the aggregate investment of overseas investors from $1 billion to $2 billion is proposed.
11.An investment protection fund under the aegis of SEBI would be set up.
12.Rs 50 cr (Rs 500 million) for Mumbai, Kolkata, Chennai varsities.
13.Eighty two power projects are in various stages of implementation in the country to overcome power shortage. This when completed in 1 to 3 years will generate 33,000 mws of power in PSUs and 6500 mws in private sector. Of this, 15,000 mw of power generation is to be installed by March 2007.
14.Five mega power projects of Rs 4000 crore (Rs 40 billion) each is to be set up for which clearance is to be given by March 31, 2006. Of this, one each will come in Chhattisgarh and MP. The remaining three will be in coastal areas of Maharashtra, Karnataka and Gujarat.
15.NHAI to be reconstituted to make it more effective.
16.A new deep draft port to be set up in West Bengal. A study is to be conducted.
17.The National Institute of Port Management in Chennai to be renamed as National Maritime Academy and converted into a Central University with branches in Mumbai, Viskhapatnam and Kolkata.
18.Old age pension to be increased to Rs 200 per month for above 75 years of age.
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PSE
The second way to make money fast and easy is to offer a service. With the emphasis being on speed in this case, I will try to give you an outline of a particularly lucrative and rapid way to make money fast.Asuming you have a home phone and a few dollars to spare on printing, you are going to rely on the law of averages to get your required money fast. As in PART 1, I have settled on $1500 but you can manipulate this to suit your needs. Whatever the crisis is, a few thouand dollars should always be enough to get you out and buy you some time until you get a handle on your finances.The law of averages states that every situation has a conversion rate. To use an extreme example, lets take my table lamp sitting here on my desk.If we set up the scenario we can get an understanding into the law of averages. Say our scenario is that we want to sell this $22.00 lamp for $1 million dollars. It sounds impossible, who would give you $1 million dollars in exchange for a $22.00 lamp?The law of averages states that even this unlikely scenario shall have a conversion rate. The possibility might be calculated at 0.0000000000000000004858688% chance that it will happen, however even this unlikely event would occur at some decimal point. However, we can also manipulate the conversion ratio by developing the scenario. If the arbitrary calculation above means that you would have to try 200 billion, trillion times to find just 1 person who would give you $1 million dollars for a desk lamp, an adjustment in the scenario can improve that number.For example, the price, you could reduce the price to $1000 which would immediately change the calculation to reflect the new circumstance. Now the conversion may be 1.2 in other words, for every 120 people you offer the lamp to, 1 will buy instead of the 200 billion, trillion.What if ontop of a price reduction, you registered as a charity. You as the administrator of the donation may keep a percentage of the $1000 and
G)Cooperative lending banks and rural development banks to be exempted from taxes under Section 80(B).
H)Fixed deposits in scheduled commercial banks with at least five year maturity will get tax exemption for savings under section 80C of Income Tax Act.
I)The Rs 10,000 exemption limit for investment in pension funds under Section 80CCC has been removed but these investments would be brought under Sec.80C subject to a ceiling of Rs 1 lakh.
J)Donations to only religious institutions will be exempted from tax.
K)Minimum alternative tax on corporates increased from 7.5 per cent to 10 per cent.
L)More transactions to come under PAN.
M)Constituency allowances of MLAs to be treated as constituency allowances of MPs for income tax purposes.
N)Banking cash transaction tax introduced last year will continue.
O)Fringe Benefit Tax modified. Threshold limits raised, but FBT will remain as it is justified for ensuring horizontal equity.
P)Minimum alternative tax on corporates increased from 7.5 per cent to 10 per cent.
Proposals on Indirect -Tax
A)Excise duty on cigarettes increased by five per cent.
B)Many tax exemptions in customs and excise to be removed barring SSI.
C)April 1,2010 has been fixed as the date for introduction of goods and services tax.
D)Peak customs duty for non agriculture products reduced from 15 to 12.5 per cent.
E)Customs Duty on primary and non-primary steel and alloy products reduced from 10 per cent to 7.5 per cent.
F)Duties on mineral products reduced from 15 to five per cent, barring some items.
G)Duty on ores and concentrates reduced from five to two per cent.
H)Duty on refractories reduced to 7.5 per cent.
I)Customs duty reduced on ten anti-AIDS drugs and 14 anti-cancer drugs to five per cent.
J)Customs duty on packaging machines reduced from 15 per cent to five per cent.
K)Four per cent countervailing duty on all imports to be levied with few exceptions.
L)Customs duty on bulk plastics reduced from 10 per cent to five per cent.
M)To protect vanaspati industry, customs duty to be increased to 80 per cent on its imports.
N)Import duty on all man made fiber has been reduced from 15 per cent to 10 per cent.
O)Excise duties on man-made fibers and filament yarn reduced from 16 per cent to eight 8 per cent, since it provides growth and employment.
P)Eight per cent special additional duty on aerated soft drinks and small cars withdrawn and they will attract only 16 per cent CENVAT excise duty instead of 24 per cent earlier.
Q)Reduction of duty on footwear priced between Rs 250 and Rs 750 from 16 per cent to eight per cent.
R)Duty on specialized writing paper reduced form 16 to 12 per cent.
S)Excise duty on compact fluorescent lamps reduced from 16 to eight per cent.
T)Cess on domestically produced petroleum crude has been raised from Rs.1800 per tonne to Rs.2500 per tonne but the entire amount to be absorbed by oil producing companies
Other Highlights of General Budgets...Others Proposals
1.The defence budget raised to Rs 89,000 crore (Rs 890 billion) in 2006-07 from Rs 83,000 crore (Rs 830 billion) in the current year. Of this Rs 37,458 crore (Rs 374.58 billion) would be capital expenditure.
2.Rs 100 crore special grant for Punjab Agricultural University as a centre of excellence for its commendable work in agricultural research.
3.500 ITIs to be upgraded in five years. Work has already started in 100 ITIs and would be taken up in the remaining 400 institutes soon. Rs 97 crore (Rs 970 million) allocated in 2006-07.
4.Special assistance of Rs 848 crore (Rs 8.48 billion) for Jammu and Kashmir for its reconstruction fund, including Rs 230 crore (Rs 2.30 billion) for Baglihar project. This will be in addition to 2006-07 state plan of Rs 2,300 crore (Rs 23 billion).
5.Rs 10 crore (Rs 100 million) allocated for preparatory work for celebrating the 150th anniversary of the First War of Independence of 1857 in a befitting manner.
6.To safeguard old art forms, Vedic chanting and Ram Lila have been declared UNESCO heritage and will be granted Rs 5 crore (Rs 50 million).
7.Comprehensive Insurance Regulatory and Development Authority bill to be introduced in 2006-07 incorporating the recommendations of K P Narasimhan Committee on insurance sector revamp. The committee has already submitted its report to government and IRDA is studying its recommendations.
8.An Investors Protection Fund will be set up and funded by fines and penalties to safeguard the interests of retail investors.
9.FII investment limit in stock markets will be raised from $1.75 billion to $2 billion to deepen, strengthen and broaden the market.
10.Raise in the aggregate investment of overseas investors from $1 billion to $2 billion is proposed.
11.An investment protection fund under the aegis of SEBI would be set up.
12.Rs 50 cr (Rs 500 million) for Mumbai, Kolkata, Chennai varsities.
13.Eighty two power projects are in various stages of implementation in the country to overcome power shortage. This when completed in 1 to 3 years will generate 33,000 mws of power in PSUs and 6500 mws in private sector. Of this, 15,000 mw of power generation is to be installed by March 2007.
14.Five mega power projects of Rs 4000 crore (Rs 40 billion) each is to be set up for which clearance is to be given by March 31, 2006. Of this, one each will come in Chhattisgarh and MP. The remaining three will be in coastal areas of Maharashtra, Karnataka and Gujarat.
15.NHAI to be reconstituted to make it more effective.
16.A new deep draft port to be set up in West Bengal. A study is to be conducted.
17.The National Institute of Port Management in Chennai to be renamed as National Maritime Academy and converted into a Central University with branches in Mumbai, Viskhapatnam and Kolkata.
18.Old age pension to be increased to Rs 200 per month for above 75 years of age.
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PS
Debt management services let the person to resolve his debts and become debt free. As an intermediary, it negotiates with the creditor on behalf of the debtor, so as to lower the amount of interest. In short, you make single and convenient monthly payment rather than making a number of payments.Today, advancement in information technology has let people to do every task through internet; whether you take shopping, business or even getting a loan. So, why should managing the debts lack behind. This implies the person can manage his debts online as well.But sometimes there may be few questions which may arise in the mind of the person while going for a debt management through the online mode. The first question that may arise is that how to start or how to go for these services? The first step in attaining the financial freedom is filing up the online form available on the internet. After providing all the information on the internet to the debt management company, the credit counselor will analyze your situation. And will contact you to discuss all the details of the information provided by you in the online application form. Once the credit counselor understands your situation, he will let you know the various ways to become debt free.If the debt management services are used properly, it will let you to be debt free. But, if the situation and the problem of debts is more serious then it can provide you only the temporary relief.It is absolutely true that consolidating the debts through a debt management company reduces your monthly payment of your debts. But the person should always try to avoid so that these situation doesn’t arise in the future.A small check that can prove that debt management is the answer for your problem; check if these situations match with your condition. They are•Are you paying very high rate on your existing debts and you will be not able to continue this for long•And you want to reduce amount of your mon
L)Customs duty on bulk plastics reduced from 10 per cent to five per cent.
M)To protect vanaspati industry, customs duty to be increased to 80 per cent on its imports.
N)Import duty on all man made fiber has been reduced from 15 per cent to 10 per cent.
O)Excise duties on man-made fibers and filament yarn reduced from 16 per cent to eight 8 per cent, since it provides growth and employment.
P)Eight per cent special additional duty on aerated soft drinks and small cars withdrawn and they will attract only 16 per cent CENVAT excise duty instead of 24 per cent earlier.
Q)Reduction of duty on footwear priced between Rs 250 and Rs 750 from 16 per cent to eight per cent.
R)Duty on specialized writing paper reduced form 16 to 12 per cent.
S)Excise duty on compact fluorescent lamps reduced from 16 to eight per cent.
T)Cess on domestically produced petroleum crude has been raised from Rs.1800 per tonne to Rs.2500 per tonne but the entire amount to be absorbed by oil producing companies
Other Highlights of General Budgets...Others Proposals
1.The defence budget raised to Rs 89,000 crore (Rs 890 billion) in 2006-07 from Rs 83,000 crore (Rs 830 billion) in the current year. Of this Rs 37,458 crore (Rs 374.58 billion) would be capital expenditure.
2.Rs 100 crore special grant for Punjab Agricultural University as a centre of excellence for its commendable work in agricultural research.
3.500 ITIs to be upgraded in five years. Work has already started in 100 ITIs and would be taken up in the remaining 400 institutes soon. Rs 97 crore (Rs 970 million) allocated in 2006-07.
4.Special assistance of Rs 848 crore (Rs 8.48 billion) for Jammu and Kashmir for its reconstruction fund, including Rs 230 crore (Rs 2.30 billion) for Baglihar project. This will be in addition to 2006-07 state plan of Rs 2,300 crore (Rs 23 billion).
5.Rs 10 crore (Rs 100 million) allocated for preparatory work for celebrating the 150th anniversary of the First War of Independence of 1857 in a befitting manner.
6.To safeguard old art forms, Vedic chanting and Ram Lila have been declared UNESCO heritage and will be granted Rs 5 crore (Rs 50 million).
7.Comprehensive Insurance Regulatory and Development Authority bill to be introduced in 2006-07 incorporating the recommendations of K P Narasimhan Committee on insurance sector revamp. The committee has already submitted its report to government and IRDA is studying its recommendations.
8.An Investors Protection Fund will be set up and funded by fines and penalties to safeguard the interests of retail investors.
9.FII investment limit in stock markets will be raised from $1.75 billion to $2 billion to deepen, strengthen and broaden the market.
10.Raise in the aggregate investment of overseas investors from $1 billion to $2 billion is proposed.
11.An investment protection fund under the aegis of SEBI would be set up.
12.Rs 50 cr (Rs 500 million) for Mumbai, Kolkata, Chennai varsities.
13.Eighty two power projects are in various stages of implementation in the country to overcome power shortage. This when completed in 1 to 3 years will generate 33,000 mws of power in PSUs and 6500 mws in private sector. Of this, 15,000 mw of power generation is to be installed by March 2007.
14.Five mega power projects of Rs 4000 crore (Rs 40 billion) each is to be set up for which clearance is to be given by March 31, 2006. Of this, one each will come in Chhattisgarh and MP. The remaining three will be in coastal areas of Maharashtra, Karnataka and Gujarat.
15.NHAI to be reconstituted to make it more effective.
16.A new deep draft port to be set up in West Bengal. A study is to be conducted.
17.The National Institute of Port Management in Chennai to be renamed as National Maritime Academy and converted into a Central University with branches in Mumbai, Viskhapatnam and Kolkata.
18.Old age pension to be increased to Rs 200 per month for above 75 years of age.
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PS
Social Media allows people to highlight and discuss issues and offer opinions on areas of interest or expertise. The idea of social media is not new, however from a business point of view social media is increasingly important. Blogs Blogs are just one example of social media. These online discussion portals offer a fantastic opportunity for businesses to engage with their clients by inviting comment or discussing relevant issues or just highlighting some useful information that might be relevant for their customers and their market place.Blogs are not a place for the hard sell; these online portals should be used to communicate with customers in a ‘social’ way that encourages interaction. Com.Motion have our own blog were we update our clients and any visitors on what is happening in the Internet marketing world.Always remember, as a business, you are the expert and facilities like blogs offer a free and fantastic way for you to communicate and engage with clients on the topics of the day. Remember, if you offer something that is of value, the likelihood is that someone will tell someone else about you who just might be interested in your products or services.Free Blog - Blogger.comOther Social Medium Considerations There are a number of fantastic website to look up and potentially contribute to. The idea is to create a profile on these websites that singles you out as an expert in your chosen field. Start contributing or highlighting useful websites that have value to you and others or give your opinions or thoughts on areas of interest.Consider these Website Links Below:• Digg • Delicious • Reddit • FurlOther social areas of interest to consider are:• RSS • Video • My space • Online PRSocial Media is definitely here and it is something that should be considered for any online marketing strategy. As a race, we are a social bunch and love to converse and
6.To safeguard old art forms, Vedic chanting and Ram Lila have been declared UNESCO heritage and will be granted Rs 5 crore (Rs 50 million).
7.Comprehensive Insurance Regulatory and Development Authority bill to be introduced in 2006-07 incorporating the recommendations of K P Narasimhan Committee on insurance sector revamp. The committee has already submitted its report to government and IRDA is studying its recommendations.
8.An Investors Protection Fund will be set up and funded by fines and penalties to safeguard the interests of retail investors.
9.FII investment limit in stock markets will be raised from $1.75 billion to $2 billion to deepen, strengthen and broaden the market.
10.Raise in the aggregate investment of overseas investors from $1 billion to $2 billion is proposed.
11.An investment protection fund under the aegis of SEBI would be set up.
12.Rs 50 cr (Rs 500 million) for Mumbai, Kolkata, Chennai varsities.
13.Eighty two power projects are in various stages of implementation in the country to overcome power shortage. This when completed in 1 to 3 years will generate 33,000 mws of power in PSUs and 6500 mws in private sector. Of this, 15,000 mw of power generation is to be installed by March 2007.
14.Five mega power projects of Rs 4000 crore (Rs 40 billion) each is to be set up for which clearance is to be given by March 31, 2006. Of this, one each will come in Chhattisgarh and MP. The remaining three will be in coastal areas of Maharashtra, Karnataka and Gujarat.
15.NHAI to be reconstituted to make it more effective.
16.A new deep draft port to be set up in West Bengal. A study is to be conducted.
17.The National Institute of Port Management in Chennai to be renamed as National Maritime Academy and converted into a Central University with branches in Mumbai, Viskhapatnam and Kolkata.
18.Old age pension to be increased to Rs 200 per month for above 75 years of age.
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PS
A few years ago, one of my competitors, a consultant located in Ohio, would have his prospects call me to compare his prices to mine.At that time, he knew I charged more than twice the fee he quoted: “$1,200 per day.”Although I was always concerned about not winning business, I never put two and two together and connected my disappearing prospects to this guy’s manipulations, until he disclosed his strategy to me, in a moment of boastng and rare transparency.Here’s the kicker.Ninety-plus percent of the time I billed for was on-site. So, if I had a client in Cleveland, I wouldn’t break out a separate fee for traveling time or for preparation time. If I quoted $2,500 a day, plus out of pocket expenses then that was exactly what the client paid.My competitor, however, charged this way. He’d bill for three days at $1,200. One day was on-site and two days were off-site.But, by his own admission, he really didn’t expend two days of effort when he was at his office; perhaps only an hour or two.So, his actual rates were higher than mine, though he appeared to be cheaper by more than half!What an interesting sleight of hand, don’t you agree?His strategy demonstrates a few crucial things for the coach, consultant or services provider:(1) You can and perhaps must bill for off-site time as well as on-site.(2) You will face price competition so it always pays to appear reasonable in your fee setting.(3) You may want to consider engaging in a form of “value billing.”The last point warrants elaboration.Many lawyers bill for the value of their output instead of for the clock time it consumes.For instance, a letter might take ten minutes to compose and to print, but a lawyer will typically charge an hour or more for this service.Let’s say he bills at $300 per hour. He simply can’t afford to charge only $50 for the letter, because he needs a return on his investment in education, office
19.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
20.Rajiv Gandhi drinking water program to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
21.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
22.Government plans to eradicate polio by December 2007, Chidambaram said.
23.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment program would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG program and Rs 3,000 crore (Rs 30 billion) for SGRY.
24.New towns to be established on specific themes.
25.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
26.Special schemes to be announced for STs and SCs for their development.
27.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
28.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
29.Allocation for national Urdu education program increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
30.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
31.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
32.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
33.Farmers to receive short term credit at 7 per cent.
34.Budgetary loan for PSEs has been fixed at Rs 16901 crore (Rs 169.01 billion) including Rs 2791 crore ( Rs 27.91 billion) for Railways.
35.Ninety-six per cent of the golden quadrilateral would be completed by June 2006 and the corridor would be completed by the end of 2008.
36.Six lakh hectares of irrigation potential expected to be created this year. Rupees nine hundred and forty-four crore (Rs 9.44 billion) released this year under the Accelerated Irrigated Benefit Program.
37.Allocation on education increased by 31.5 per cent to over Rs 24,150 crore (Rs 241.5 billion) and that for healthcare raised by 22 per cent to Rs 12, 546 crore (Rs 125.46 billion).
38.Entire Rs 1,100 crore (Rs 11 billion) for rural electrification released this year and 10,366 villages to be electrified.
39.Five lakh additional class rooms to be constructed and 150,000 additional teachers to be appointed.
40.Larger budgetary support will be given to Bharat Nirmal Programme: Rs 18696 crore (Rs 186.96 billion) to be given which represents a hike of 54 per cent.
41.Total budget for north-eastern region will be Rs 12,041 crore (Rs 120.41billion) including Rs 1,350 crore (Rs 13.5 billion) for the ministry of north-east development.
42.A massive immunization program will be launched to eradicate polio completely by 2007.
43.Allocation for mid-day meal scheme to be enhanced to Rs 4813 crore (Rs 48.13 billion) next fiscal as against Rs 3014 crore (Rs 30.14 billion) this year.
44.Gross budgetary support for annual plan expenditure has been raised to Rs 1,74,725 crore (Rs 1747.25 billion) for 2006-07 as against Rs 1,43,497 crore (Rs 1434.97 billion), an increase of 20.4 per cent.
45.Likewise for the central plan increased to Rs 1,31,285 crore (Rs 1312.85 billion) next fiscal.
46.Eight flagship program of the UPA including Sarva Shiksha Abhiyan and Mid-Day Meal Scheme will get a total allocation of Rs 60,015 crore (Rs 600.15 billion) in 2006-07 as against Rs 34,927 crore (Rs 349.27 billion) in the current year.
47.Metro in Hyderabad to be considered.
48.Old age pension to be increased to Rs 200 per month for above 75 years of age.
49.Allocation for it put at Rs 1430 crore (Rs 14.3 billion) from the Centre and the state government to provide matching contribution.
50.Rajiv Gandhi drinking water programme to get Rs 4680 crore (Rs 46.8 billion) next year as against Rs 3645 crore this year.
51.National Health Mission allocation increased to Rs 8207 crore (Rs 82.07 billion) in next fiscal from Rs 6,553 crore (Rs 65.53 billion) this year.
52.Government plans to eradicate polio by December 2007, Chidambaram said.
53.The Finance Minister said that Rs 14,300 crore (Rs 143 billion) for rural employment programme would be scheduled during 2006-07, out of which Rs 11,300 crore (Rs 113 billion) for NREG programme and Rs 3,000 crore (Rs 30 billion) for SGRY.
54.New towns to be established on specific themes.
55.For gender budgeting under various heads, Rs 28,737 crore (Rs 297.37 billion) has been allocated.
56.Special schemes to be announced for STs and SCs for their development.
57.India to be made a manufacturing hub for textiles, steel, metals and petroleum products.
58.Maulana Azad Educational Foundation corpus doubled to Rs 200 crore (Rs 2 billion) for greater financial support to organizations involved in minority welfare.
59.Allocation for national Urdu education programme increased to Rs 13 crore (Rs 130 million) from Rs 10 crore (Rs 100 million) this year.
60.One thousand schools for girls of SCs, STs, OBCs and minorities to be set up.
61.A girl child will get Rs 3,000 deposited in a bank account after she enrolls for eighth class examination and the amount would be given when she becomes a major.
62.Separate window for tenant farmers to ensure loan share. Agri credit proposed to be increased to Rs 175,000 crore (Rs 1750 billion) next year as against Rs 1,41,500 crore (Rs 1415 billion), covering additional 50 lakh farmers.
63.Farmers to receive short term credit at 7 per cent.
64.Budgetary loan for PSEs has been fixed at Rs 16901 crore (Rs 169.01 billion) including Rs 2791 crore ( Rs 27.91 billion) for Railways.
What they have to say about the Financial Bill, 2006-2007
Saroj K Poddar, President, FICCI: The most significant points in the Budget are the enhanced allocations for infrastructure like roads. I am sure this will drive growth. We are also glad that Finance Minister P Chidambaram has announced a series of incentives in the agriculture sector. He has made good allocation for agriculture. This will increase agricultural output and it will in turn help develop the rural areas.
One area of concern in the Budget is power generation. The finance minister has now announced five new power projects, and we hope these new projects will accelerate growth in the industrial sector. But our concern is whether the power projects will be executed on time.
It is also great that Chidambaram has not touched income tax rates. I believe reducing the excise tax rates will lead to more manufacturing. The finance minister's idea to introduce goods and services tax by 2010 is a good move forward.
R Seshasayee, Vice President, CII: I feel overall the Budget is good. The good news is that we must celebrate the tax-GDP ratio of 10 per cent. It proves our economy has arrived. The disappointing factor is the continuation of bank withdrawal tax. Another good thing about the Budget is that it continues to put emphasis on education. The overall approach is good for economy and country if we continue to pay more attention on education.
The above mentioned proposals are as presented by Union Finance Minister of India Mr. P. Chidambaram in Parliament on 28th Feb. 2006. These proposals are debatable and subject to change.
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