BUDGET - BMR Advisors

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Reduction of CST from 3 percent to 2 percentCompanies in the logistics sector view infrastructuralbottlenecks and CST as main impediment in growth of thelogistics sector. Currently, CST levy is 3 percent and results inextra tax cost and disintegrated supply chain. Reduction in CSTto 2 percent and ultimate phasing out of CST andimplementation of a single goods and service tax (GST) isexpected to provide a major boost to the warehousing andtransportation industry.indiaBUDGET200853
BUDGET PROPOSALSA perusal of the Finance Minister’s speech and the proposals ofthe Finance Bill, 2008, it emerges that as compared to thebenefits given to the infrastructure sector in terms of reduction ofduties of excise and customs, there has been a sizablebudgetary allocation of funds under the various developmentalprojects and social schemes of the Government.It appears that the Government has decided to fund moredevelopmental projects and social scheme projects to spur thegrowth of the specific sectors within infrastructure instead ofgiving a fillip to these sectors by way of extending tax incentives.Budgetary allocationBudgetary allocations for major schemes relevant for theinfrastructure sector are given in the table below:Name of the Scheme FY 2007-08 FY 2008-09In Rs Billion In Rs BillionJawaharlal Nehru NationalUrban Renewal Mission 54.82 68.66Rajiv Gandhi Drinking Water Mission 65 73Rajiv Gandhi Drinking Water Mission(Separate component introduced for schoolchildren in water deficient habitations) - 2Desalination plant in Chennaiproposed by the Tamil Nadu Govt. - 3Accelerated Irrigation Benefit Program 35.80 55.50Rainfed Area Development Program - 3.48Total sanitation campaign - 12Central Government sponsored schemeon micro irrigation launched in 2006 - 5Irrigation and Water Resources FinanceCorporation - 1Rural Infrastructure Development Fund - XIV - 140A separate window for rural roadsproposed under the Rural Infrastructure54indiaBUDGET2008
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indiaThought LeadershipBUDGET2008Im
Page 4 and 5:
C O N T E N T SFOREWORDECONOMIC IND
Page 6 and 7: FOREWORDInfrastructure is the backb
Page 8 and 9: ECONOMIC INDICATORS AT A GLANCEIndi
Page 10 and 11: period of the previous year, regist
Page 12 and 13: GROWTH IN CRUDE PETROLEUM PRODUCTIO
Page 14 and 15: GROWTH IN STEEL PRODUCTION (IN PERC
Page 16 and 17: FY 2007-08 to 139 billion in FY 201
Page 18 and 19: Renewable energy sources which incl
Page 20 and 21: TransmissionDuring the period FY 20
Page 22 and 23: Policy developmentsElectricity (Ame
Page 24 and 25: PROJECTED INVESTMENT IN THE POWER S
Page 26 and 27: AVIATION INFRASTRUCTUREAs India’s
Page 28 and 29: necessary to carry out amendments t
Page 30 and 31: The ACP is designed to provide a fo
Page 32 and 33: estimated cost of Rs 18.08 billion,
Page 34 and 35: is projected to scale up to Rs 869
Page 36 and 37: ROADS AND BRIDGESIndia has one of t
Page 38 and 39: Carriers’ Act, 1865 and would cat
Page 40 and 41: RAILWAYSThe Indian Railways is the
Page 42 and 43: estimated cost of Rs 280 billion•
Page 44 and 45: BUDGET EXPECTATIONS - POWERThe majo
Page 46 and 47: Customs and Excise duty rationaliza
Page 48 and 49: significant cost efficiencies (both
Page 50 and 51: Central sales taxDeclared goods sta
Page 52 and 53: during initial tax holiday years, s
Page 54 and 55: Reduction of customs duty on cold s
Page 58 and 59: Name of the Scheme FY 2007-08 FY 20
Page 60 and 61: • The amendment to take effect fr
Page 62 and 63: from customs duty. However, within
Page 64 and 65: legal right of possession and effec
Page 66 and 67: • Reduction of peak rate of excis
Page 68 and 69: • Supply of tangible goods where
Page 70 and 71: Thus, import of goods for airport d
Page 72 and 73: GLOSSARYAAIACDACPAERAATFATMBCDBIALB
Page 74: www.bmradvisors.comOUR CONTACTSNew
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BUDGET - BMR Advisors

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