Tuesday 3 April 2012

Budget 2012-13

Budget estimates 2012 for GDP growth rate is 7.6%. In 2011-12 year GDP growth rate has loss by 5.1%.While seeing Budget three things are more important. They are deficit, revenue and expenditure. Now we explaining 2012 budget broadly on these three things.

Deficit:
Fiscal deficit
Now the budget projects a revised fiscal deficit estimates at 5.9 % of GDP: a slippage of the magnitude of Rs 1,092 billion vis-a-vis the budgeted FY2012 estimates. It decline of Rs 83 billion from the revised estimates FY2012 estimates.

Current account deficit-
The current account deficit as a proportion of GDP for 2011-12 is likely to be around 3.6 per cent.


Trade deficit-
      During April-January 2011-12, exports grew by 23 per cent to reach US Dollar 243 billion, while imports at US Dollar 391 billion recorded a growth of over 29 per cent.

    Revenue-
Direct taxes
Exemption limit for the general category of individual taxpayers proposed to be enhanced from Rs 1, 80,000 to Rs 2, 00,000 giving tax relief of Minimum Rs 2,000.
 Upper limit of 20 per cent tax slab proposed to be raised from Rs 8 lakh to Rs 10 lakh. Proposal to allow individual tax payers, a deduction of up to Rs 10,000 for interest from savings bank accounts. 
 Indirect taxes
Service tax rate raise from 10 per cent to 12 per cent, and it expected to yield additional revenue of Rs 18,660 Crore.
rate of excise duty to be raised from 10 per cent to 12 exemptions.
Disinvestment-
      In 2011-12, as against a target of ` 40,000 crore, the Government will raise about ` 14,000 crore from disinvestment.

 EXPENDITURE
Defense-
      The Defense Budget has been substantially hiked by more than 17 per cent to Rs. 1,93,407 crore from last year’s Rs. 1,64,415 crore.

Subsidies-
     The Government has decided that from 2012-13 subsidies related to food and for administering the Food Security Act will be fully provided for.The expenditure on Central subsidies is restricted to under 2 per cent of GDP in 2012-13. The oil subsidy, which is given to state-run oil marketing firms, such as Indian Oil Corp, BPCL and HPCL, for selling diesel, domestic LPG to households and kerosene through the PDS system, below cost, is estimated lower at Rs 43,580 crore in FY'13, compared to Rs 68,481 crore in this fiscal.
      Subsidy on petroleum products has been reduced by Rs 24,900 crore.

Salaries-
    No major development in the section of salaries in budget.



Wednesday 28 March 2012

Aashirwad for people

Mr. Dipendra Hariya and his elder brother Surendra Bhai owned a shop. It was their family business. They opened Aashirwad Kirana & General Store in 1981. Before this, they had another Kirana shop in Ambernath (West) which was owned by their father. That shop was 50 years old. Before 50 years, there hardly 2-3 shops existed in Ambernath (East). That time, people used to go West for shopping. That’s why Janata party’ corporator Lilatai Joshi recommended Hariya family to open a Kirana Shop in Ambernath (East). They progressed their business.
       In Aashirwad Kirana & General Store people got basic things like electrical appliances, tailoring needle, stationary, gifts, Greetings etc. Mr. Dipendra said, “first they used to keep seasonal items like umbrella, raincoat in rainy season. But due to maintaince problem now they don’t keep”.  He says he used to go Mumbai for buying products but now-a- days they bought from agent. He has just give list of products. It’s reduced their travelling cost and time.
      According to his experience, people had joint family and one man was earning source, so they buy in bulk on 10th of every month. That time people didn’t had various choices. But now-a-days most families are nuclear family and two-three people earned. Awareness about products is increases due to Advertisement. They have various options.
      They see change in customer needs. Every product has four to five or ten to fifteen types. So, while keeping stock, their work became harder in maintenance. Within every fifteen days, new products are launched, products price and packaging are changed. Sometimes manpower matters while doing this work. Investment grows in retail sector, that’s why various options open for people.
 He said,”they have to think about customer budget while keeping product stocks”. First people had limitation in their buying tendency. But now people don’t comprise their needs. Now life Become faster, no one has enough time to do every festival traditionally. So, people want everything readymade, it saves their time. 
      Now in his shop four people are working. They got Rs. 200-250 /- on daily basis. Their daily income is around Rs. 10,000 to 12,000. Their shop has Home delivery services. Government laws are made for benefit and good sake of people. Government officer’s misuses their power. Mr. Hariya said,”every month he paid Rs. 1,500 to 2000 as tax”.
     Renewing License every year is difficult task. In case it gets delay then Government officer gave them psychological torture. A murderer can roam fearlessly, but a shopkeeper cannot. He said,” big malls got concession in tax policy and no one is bother about small shops. Only medium size shops pissed in this. There is no clarity and good implementation in Government working”.
It diverts their mind from retailing. Load shading is another major problem; shop cannot run on inverter for long time. He says,” Planning is very important factor in business. Keeping account of everything is another important task in business. Without all these things you cannot be a good businessman”.