Accelerator on the privatisations process, public enterprises to be
Special excise duty reduced to a single rate of 16 per cent.
Surcharge of 15 per cent on cigarettes. Duty on bidis raised to Rs 7 per
thousand from Rs 6. The total duty on pan masala would be 55 - 60%.
Miscellaneous tobacco products like chewing tobacco would be charged to a
total duty of 60%.
Excise duty on motor spirit and high speed diesel oil increased to 16 per
cent. Levies an 8% excise duty on Compressed Natural Gas (CNG), which till
now was exempt from any duty. Liquefied Natural Gas (LNG) exempted from the
additional duty of customs (CVD).
16 per cent duty on garments sold under the registered trade name.
Thrust on agricultural sector reforms and restrictions on free inter-state movement of
food grains to be removed.
Kisan Credit Cards to all eligible farmers within the next 3 years.
Intensification of infrastructure investment, continued reform in the
financial sector and capital markets.
Emphasis on rationalisation of subsidies and improvement in the quality of
Better educational opportunities and programmes of social security to be
Growth to be accelerated through stringent expenditure control of
Revenue enhancement through widening of the tax base and administration of
a fair and equitable tax regime.
Duty on second hand cars, old MUV, scooters and motorcycles enhanced.
Government raises basic import duty to 105% taking the total duty to over
Centre proposes to reduce the basic customs duty on specified textile
machines, including shuttle-less looms, from 15% to 5%.
Accredited journalists allowed to import camera, computers and fax
machines etc… worth Rs. 1,00,000 without paying customs duty every 2 years
instead of 5 years.
Government proposes to reduce customs duty on cement, and clinkers to 25%
Gold to be cheaper, duty on it slashed from Rs. 400 per 10 grams to Rs.
250 per 10 grams.
Customs tariff rationalised, to be brought down to East Asian levels. It
is to be achieved progressively within three years. They will be reduced to
a minimum, with a peak of 20 per cent.
The central excise rules to be simplified to make them user-friendly
- The target of 5.1% of fiscal deficit in 2000-01 has been achieved first
time in many years.
- Total expenditure in the budget estimates for 2001-2002 is estimated at Rs
3,75,223 crore, of which Rs 100,100 crore is for plan and Rs 275,123 crore
- The budget support for Central, State and UT Plans placed increased by Rs
13,862 (16%) crore over revised estimates 2000-2001 to Rs 100,100 crore.
- Gross budgetary support for Central, State and UT Plans placed increased
by Rs 48,269 crore in the revised estimates 2000-2001 to Rs 59,456 crore in
- Central Plan assistance to States and Union Territories in 2001-2002
increased to RS 40,644 crore from Rs 37,969 crore in the revised estimates
- Non-plan expenditure in 2001-2002 is estimated to be Rs 2,75,123 crore
compared to Rs 2,49,285 crore in Revised estimates for Rs 2000-2001.