BUDGET 3

In the Budget Estimates for 2010-11, gross tax receipts
are estimated at Rs 7,46,651 crore while the non-tax revenue
receipts are estimated at Rs 1,48,118 crore.
Total expenditure is placed at Rs 11,08,749 crore, which
is an increase of 8.6 per cent over the total expenditure in
Budget Estimates of 2009-10. The plan and non-plan
expenditures in Budget Estimates in 2010-11 are estimated at
Rs 3,73,092 crore and Rs 7,35,657 crore respectively.
The fiscal deficit for 2010-11 has been pegged at 5.5 per
cent and the rolling targets for 2011-12 and 2012-13 have been
pegged at 4.8 per cent and 4.1 per cent respectively.
The fiscal deficit of 5.5 per cent of GDP in 2010-11
works out to Rs 3,81,408 crore. Taking into account various
other financing items for fiscal deficit, the actual net
borrowing of the government in 2010-11 would be of the order
of Rs 3,45,010 crore.
In direct taxes, the Finance Minister proposed to reduce
the current surcharge of 10 per cent on domestic companies to
7.5 per cent but at the same time raised the rate of Minimum
Alternate Tax (MAT) from 15 per cent to 18 per cent of book
profits. (MORE) PTI