Budget 2013-2014: No changes in Tax Slab, Attention on Infrastructure growth
The Economy and the challenges: Global economic growth declined from 3.9% to 3.2%; India not effected Only china and Indonesia growing faster than India RBI estimated GDP growth of 5.5% foe FY 2013 High fiscal deficit, tight monetary policy and low saving behind low growth Foreign investment is an imperative and we need to encourage and embrace it No reason for gloom and doom. Accelerating growth the primary focus Current account deficit continues to be high due to excessive depence oil, coal and gold imports and slowdown in export. Food inflation is worrying but all possible steps to be taken to augment the supply side to meet the growing demand for food items. New Investment: Companies investing 100 crore or more in plant and machinery during the period 1.4.2013 to 31.3.2015 will be entitled to deduct an investment allowance of 15 per cent of the investment. Incentives to semiconductor wafer fab manufacturing facilities, including zero customs duty for plant...