The document summarizes the key proposals of the Indian budget for 2013-14 presented by the Finance Minister P Chidambaram. Some highlights include allocating 2.03 trillion rupees for defense, 801.94 billion rupees for rural development, and 140 billion rupees for banks. No changes were made to personal income tax slabs but a 10% surcharge was added for incomes over 1 crore rupees. Funds were allocated for women's development, education, health, and other social programs while import duties on some goods were increased. The overall expenditure for 2013-14 was budgeted at 16.65 trillion rupees with 5.55 trillion for planned expenditure.

1. HIGHLIGHTS OF BUDGET 2013-14
Presented by
Rajib Deb
M.Com. 3rd sem.
Roll No:29
Department of Commerce
Tripura University

2. INTRODUCTION
Union Finance Minister P Chidambaram presented the
much awaited finance budget for 2013-14 in the Lok
Sabha, stressing on the fact that India is not
unaffected by what happens in the world, the main
reason why the country's economy too has slowed
down. Chidambaram stressed that the UPA
Government believes in inclusive development, while
adding that India faces challenge of getting back to
its potential growth rate of 8%. Health and education
for all remain the Government's priorities, and that
the main aim of the budget 2013-14 is to create
opportunity for the youth, added Chidambaram.

3. What is Budget?
The dictionary meaning of budget is systematic plan for the
expenditure of a usually fixed resource during a given
period.
Budget means estimation of revenue and of expenditure such
as source and application of revenue and expenditure. In simple
Budget provides;
A forecast of revenue and expenditures, that is, construct a
model of how financial plans are carried out.

4. Budget 2013-14 includes the following
important proposals:
To allocate 2.03 trillion rupees to defence
sector in 2013-14
To allocate 801.94 billion rupees to rural
development in 2013-14
To provide 140 billion rupees capital
infusion in state-run banks in 2013-14
To cut duty on exports on precious and
semi precious stones to 2 point from 10
point.

5. Cont……
Zero customs duty for electrical plants and
machinery.
Plan to allocate 270.49 billion rupees for agriculture
in 2013-14.
Proposes capital allowance of 15 point to companies
on investments of more than 1 billion rupees.

6. A Quick Highlights of Budget 2013-14:
* No revision of personal income
tax slabs; relief in first bracket
through tax credit of Rs.2,000 for
earnings up to Rs.500,000
(approx $9,000)
* Ten per cent surcharge on
income exceeding Rs.1 crore
(Rs.10 million/$180,000) a year;
only 42,800 people have
declared such income
* Rs.1,000 crore allocated for
establishing Nirbhaya Fund
* Rs.97,000 crore (Rs.970
billion/$18 billion) for women's
development

7. Cont…..
* Import duty on high-end vehicles raised from 75 per cent
to 100 per cent.
* Excise duty on cigarettes to be increased 18 per cent
* No change in service tax of 12 per cent
* No service tax on vocational courses run by institutes
affiliated to state governments
* Service tax on all air conditioned restaurants regardless
of whether or not they serve alcohol
* No service tax on agricultural testing procedures
* Rs.9,000 crore allocated for compensating state for
differential in central sales tax and GST

8. Cont….
* No change in customs duty on non-agricultural products
* Modified law to prevent tax avoidance to come into effect
April 1, 2016
* 100 per cent tax deduction for contributions to National
Children's Fund
* Education cess to continue at 3 per cent
* 11 lakh people have benefited from direct cash transfers;
scheme to be rolled out across the country during UPA-2
term (May 2014)
* Tax on mutual fund redemptions reduced from .25 per
cent to .001 per cent
* Rs.800 crore provided to promoting wind energy

9. Cont…..
* Tax-free infrastructure bonds of Rs.50,000 crore to be
issued
* Rajiv Gandhi Equity Scheme to be liberalised
* Human resource development ministry to get Rs.65,867
crore
* Rs.13,250 crore allocated for midday meals scheme
* Rs.17,700 crore allocated for Integrated Child
Development Scheme
* Budget expenditure for 2013-14 at Rs.16 lakh 65,297
crore; plan expenditure at Rs.5 lakh 55,224 crore
* Rs.41,000 crore for Scheduled Caste plan
* Rs.110 crore for department of disabilities
* Rs.37,330 crore for health ministry

10. Conclusion
From the above discussion, we can say that it’s a good
budget presented by Finance Minister because it
targeting the rich people in the country and giving tax
benefit to the lower tax bracket groups. So that Tax
revenue can be increased without harming lower
income groups people. And overall development can be
possible by concentrating in health and education
sector.

11. Thank You