Custom rate

The Finance Minister, as expected, has outlined the roadmap for ushering in the GST regime by specifically allocating a sum of Rs.9,000 crore towards the first installment of the balance of CST compensation. It is hoped that the consensus of the States would be obtained and the Constitutional Amendment Bill as well as the GST Bill would be introduced in the Monsoon session of the Parliament. The Finance Minister has also assured to bring in the Direct Taxes Code Bill back before the end of the Budget Session. It is hoped that the new DTC, giving due weightage to the recommendations of the Standing Committee, would ultimately incorporate the best global practices, and at the same time, maintain the right balance between simplicity and equity.

Union Budget: 2013-14-Proposal on Economics

Finance minister P Chidambaram presented one of the most highly anticipated Budget of recent years, as the government looks to rein in a bloated fiscal deficit and restore confidence in Asia's third-largest economy. He stressed on development to be sustainable economically and ecologically. Sufficient allocation has been made to programmes relating to women and child. Health and education for all will be the priority for the government. India’