Instituto Cervantes Nueva Delhi

24 y 25 de marzo de 2012 / March 24th and 25th, 2012

EUNIC le invita a descubrir la diversidad y la variedad de Europa a través de su cocina. El 24 y 25 de marzo de las 11:00 am las 14 pm, podrá aprender a cocinar los platos más famosos de la cocina francesa, italiana, húngara y española. EUNIC invites you to discover the diversity and variety of Europe through its cuisine. On 24 and 25 March from 11 am to 14 pm, you can learn how to cook the most famous dishes of the French, Italian, Hungarian and Spanish cuisine.

Instituto Cervantes Nueva Delhi

Pallavi Jain win 13th leg of Hero WGAI Tour

Mumbai, March 16: Pallavi Jaini won her first title of the season when she annexed the  13^th leg of the Hero WGAI Professional Golf Tour despite a lot of tense moments in the closing stages of the tournament.

Pallavi was five strokes ahead of Nalini Singh Siwach with three holes to go.But she double bogeyed 16^th and 17^th even as Nalini birdied the 16^th but her bogey on the 17^th proved costly as she  finished one stroke behind.

Pallavi carded 69 in the final round, while Nalini, who started the day five behind, fell short despite a 65. Pallavi totaled three-over 198 on the par-65 Willingdon Golf Club Course, while Nalini aggregated 199.

Smriti Mehra seemed to have reserved her best for the final day as she scored 64, but her rounds of 71 and 70 on first two days meant she finished at 205 alongside Saaniya Sharma (66) and both ended in a  tie for third.

Pallavi, five ahead after two rounds, opened with a bogey on first but got back that shot on the third. Nerves seemed to affect her as she double bogeyed the par-3 sixth and bogeyed the par-5 seventh. Despite a birdie on ninth she finished the front nine in two-over 36.

When Pallavi birdied the 11^th and 15^th she seemed to have overcome jitters, only to double bogeys 16^th and 17^th. But she got away with that. Nalini who had one birdie and one bogey in first 13 holes, bogeyed the 14^th and then bounced back with birdies on 15^th and 16^th. But the bogey on 17^th proved costly as both Pallavi and Nalini parred the 18^th.

Smriti had four birdies against three bogeys in her 64, while Saaniya in tied third carded 68.

Neha Tripathi (71) was fifth and Ankita Tiwana (73) was sixth.

There are two more events held after the 13^th leg. The current leader on Money list is Smriti Mehra, followed by Nalini Singh Siwach.

Customs Duties on Imported Plant and Machinery for Iron Ore Plants Reduced to 2.5 Per Cent

The Union Finance Minister ShriPranab Mukherjee while presenting the Union Budget for 2012-13 has announced to reduce basic customs duties on plant and machinery imported for setting-up of iron ore pellet plants or iron ore beneficiation plants from 7.5 percent to 2.5 percent. In his Budget Speech in LokSabha today, the Finance Minister proposed to reduce basic customs duty on coating material for manufacturing of electrical steel from 7.5 percent to 5.0 percent. On nickel ore and concentrate and nickel oxide/ hydroxide, the duties have been reduced to NIL from 2.5 percent or 7.5 percent. In other proposals, export duty on chromium ore has been enhanced from Rs. 3,000/- per tonne to 30 percent ad valorem. Basic customs duty on non-alloy, flat rolled steel has been proposed to enhance from 5 percent to 7.5 percent.

Shri Mukherjee said that relief has been proposed for sectors such as steel, textiles, branded readymade garments, low-cost medical devices, labour intensive sectors producing items of mass consumption and matches produced by semi-mechanised units. He proposed to fully exempt automatic shuttle-less looms from basic customs duty of 5 per cent. Similarly, full exemption on basic duty is being accorded to automatic silk reeling and processing machinery as well as its parts.

Full exemption from basic customs duties has been proposed on waste paper, LCD and LED TV Panels and parts of memory card for mobile phones in the Budget 2012-13.

Gross Tax Receipts Estimated at Rs.10,77,612 Crore

By sagarmedia on March 16, 2012 | Leave a Comment | Edit

Gross Tax Receipts Estimated at Rs.10,77,612 Crore-19.5% Increase Over 2011-12 Re
Indirect Tax Revenue Growth Estimated at 26.7% &Direct Tax Revenue Growth at 13.9% Over 2011-12.
Total Expenditure Estimatedrs. 14,90,925 Crore.
The Gross Tax Receipts in the General Budget 2012-13 are estimated at Rs. 10,77,612 crore which is an increase of 19.5% over the revised estimates for 2011-12. As a percentage of GDP, gross taxes are estimated at 10.6% in the BE 2012-13 as against 10.4% in BE 2011-12. The net tax to the Centre is estimated at Rs. 7,71,071crore , after devolution to the States. The Non Tax Revenue Receipts are estimatedRs. 1,64,614 crore and Non-debt Capital Receipts at Rs.41,650 crore.
In the General Budget 2012-13, presented by the Union Finance Minister ShriPranab Mukherjee in the LokSabha today, Corporation Tax with Rs.3,73,227 crore will be the major contributor in the Revenue Receipts. Income Tax, Customs, Union Excise Duties and Service Tax will yield Rs. 1,95,786 crore, Rs.1,86,694 crore, Rs.1,94,350 crore and Rs.1,24,000 crore respectively. Receipts due to Wealth Tax will contribute Rs.1,244crores whereas Taxes on UTs are estimated to contribute Rs.2310 crore. Direct tax revenue growth is estimated at 13.9% over 2011-12 RE and Indirect tax revenue growth estimated at 26.7% over 2011-12.
On the Non Tax Revenue side, Dividend and Profits will contribute Rs.50,153crore and interest receipts Rs.19,231 crore. Other Non Tax Revenue Receipts will be Rs.91,207crore. Rs.40,000crore is estimated to be from Telecom Spectrum auction.
Capital receipts are pegged at Rs. 5,55,241crore.
Total expenditure for 2012-13 is budgeted at Rs. 14,90,925crore. Of this, the Plan Expenditure is budgeted at Rs.5,21,025crore which is 18% higher than the Budget Estimates of 2011-12. This is higher than the 15% increase projected in the approach to the Twelfth Plan for 2012-13.
Revenue Plan Expenditure is estimated as Rs.4,20,513crore of which central plan will have Rs.3,03,528 crore. Capital Plan Expenditure will be Rs.1,00,512crore of which Rs.87,499 will be under the Central Plan. Thus, total budget support for Central Plan in 2012-13 will be Rs. 3,91,027crore and Assistance for State & UT Plans to the tune of Rs.1,29,998 crore.
The Non-plan expenditure is budgeted at Rs. 9,69,900crore which is 8.7% higher than the RE for 2011-12 and 18.8 higher than the BE for 2011-12. This increase is mainly on account of higher provision for major subsidies. Interest payments and pre-payment premium will account for Rs.3,19,759crore, the highest in the Non Plan Expenditure heads. Subsidies will account for Rs. 1,90,015crore whereas Rs. 1,13,829 crore will go for the Defence Services and Rs.63,183 for pensions. Plan and non plan allocation for the Defence Services will be Rs.1,93,408Crore.
Rs.35,611 crore is budgeted for Police, Rs. 20,784 crore for Social Services and Rs. 24,105 crore for Economic Services like agriculture, industry, power, transport , communications and S&T etc. Rs.21,382crore has been budgeted for Non plan revenue expenditure on Other General Services. Grants to States & UTs are estimated at Rs.64,211crore. In the non plan Capital Expenditure Rs. 79,579 crore has been budgeted for the Defence Services as against Rs. 66,144 crore in 2011-12 (RE). Rs.23,971crore is earmarked for other non plan Capital Outlay.

About General Budget 2012-13

Mar 16

About General Budget 2012-13

by sagarmedia

By sagarmedia on March 16, 2012 | Edit
Finance minister has raised the income-tax exemption limit to Rs 2 lakh from Rs 1,80,000. No tax will be charged for income upto Rs 2 lakh. A tax of 10% will be charged for income between Rs 2-5 lakh, while 20% will be charged for income between 5-10 lakh and 30% will be charged above 10 lakh.
Tax slab levied are as follows _
Up to 2 lakh rupees – NIL
2 lakh – 5 lakh rupees – 10%
5 lakh – 10 lakh rupees – 20%
Above 10 lakh rupees – 30%
Presenting Budget 2012-13, Finance minister Pranab Mukherjee has said that it is time to take hard decisions and reforms. Mukherjee said that he expects inflation to moderate in the next three months. He also said that India’s manufacturing sector is on the path of revival. Mukherjee expects India to grow at 7.6% in 2012-13.
The country’s economic growth estimated at 6.9 per cent in the current fiscal; growth momentum to pick up in next two fiscals to 7.6 per cent 2012-13 and 8.6 per cent in 2013-14.
* RBI expected to lower policy interest rates, as inflationary pressures expected to ease in coming months; A low interest rate regime to encourage investment activity and push forward economic growth.
* Steps required for deepening of domestic financial markets, especially corporate bond market and attracting longer-term inflows from abroad; Efforts at attracting dedicated infrastructure funds have begun.
* The growth rate of investment in the economy is estimated to have declined significantly; borrowing costs up due to a sharp increase in interest rates.
* High borrowing costs and increase in other costs affecting profitability and internal accruals.
* Slowdown in Indian economy largely due to global factors, as also because of domestic factors like tightening of monetary policy, high inflation and slower investment and industrial activities.
* Inflation high, but showing clear signs of slowdown by the year-end; Whole-sale food inflation down to 1.6 per cent in January 2012 from 20.2 per cent in February 2010.
* India remains one of the fastest growing economies of the world; Country’s sovereign credit rating rose by a substantial 2.98 per cent 2007-12.
* Exports grew by 40.5 per cent in the first half of this fiscal and imports grew by 30.4 per cent; Foreign trade performance to remain key driver of growth.
* Forex reserves expanded further, covering almost the entire external debt stock to the country.
* Foodgrains production likely to cross 250.42 million tonnes; largely on back of increase in rice production.
* Agriculture and Services sectors expected to perform well; Industrial growth pegged at 4-5 per cent and improve further as economic recovery resumes.
* Global economy remains fragile and concerted efforts needed to restore stability and renewed growth; Steps needed for sovereign debt crisis, financial regulation, growth and job creation efforts and energy security, globally.
* India much more closely integrated with world economy’ share of trade to GDP of goods and services has tripled between 1990-2010.
* A progressive deregulation of interest rates on savings accounts to help raise financial savings and improve transmission of monetary policy.
* Sustainable development and climate change becoming central areas of global concern and India too is equally concerned and engaged constructively in global negotiations.