Union Budget 2013-14 - Overview, Expectations, Impact, Economy, India, Stock Market, Commodity Market, Nifty Sensex, Free Trading Tips & Strategy for Today & Tomorrow:.
Impact On Stock Market:
Union Finance Minister P Chidambaram presented his 8th Union Budget. It was 82nd Union Budget in the Indian history and the last Union Budget before the 2014 Lok Sabha elections. Indian markets plunged to the day's low with the BSE Sensex dropping 190 points to 18,961, while the 50-share Nifty declined 65 points to 5,732. The rupee also slipped into the red and traded at 54.18 to the dollar. Trade is likely to be volatile as March contracts expire today.
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What Got Costlier or Cheaper:
- Excise duty on Cigarette increased by 18%
- 6% percent duty on mobile phones decreased.
- Eating out to get more expensive. All A/C restaurants will have to pay service tax.
- 100% custom duty on luxury cars.
- Excise duty on Cigarette increased by 18%
- 6% percent duty on mobile phones that cost above Rs 2000
- Eating out to get more expensive. All A/C restaurants will have to pay service tax.
- 100% custom duty on luxury cars.
- 4% duty on silver.
- Duty on set up box to be increased.
- TDS at 1 per cent on properties being sold for more than Rs 50 lakh.
- No excise duty for handmade carpets of choir and jute.
- Vocational courses and testing activities in relation to agriculture to be exempt of service .
- To reduce abatement rates on luxury apartments.
- Lower Securities Transaction Tax on mutual funds.
- Duty-free gold limit raised.
