Skip to main content

Infra tax free bond issuance doubled

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

 

Reiterating the government's focus on providing an impetus to the infrastructure sector, finance minister Pranab Mukherjee on Friday doubled the amount to be raised through tax-free bonds to ~60,000 crore for 2012-13.

He also widened the ambit of the viability gap funding (VGF) to a host of other sectors. VGF is provided to make public-private partnership projects viable. "I propose to double the amount to be raised through tax-free infrastructure bonds to ~60,000 cr in 2012-13. This includes ~10,000 cr for NHAI (National Highways Authority of India), ~10,000 cr for IRFC (Indian Railway Finance Corporation), ~10,000 cr for IIFCL (India Infrastructure Finance Co Ltd), ~5,000 cr for Hudco, ~5,000 cr for National Housing Bank, ~5,000 crore for SIDBI, ~5,000 cr for ports and ~10,000 cr for the power sector," he said.

Irrigation, terminal markets, common infrastructure in agriculture markets, soil testing laboratories and capital investment in the fertiliser sector will be eligible for VGF under this scheme, he said.

Oil and gas/LNG storage facilities and oil and gas pipelines, fixed network for telecommunication and telecommunication towers will also be made eligible sectors for VGF. Lauding the performance of the ministry of road transport and highways, he said allocation for the ministry will be increased by 14 per cent to ~25,360 crore in 2012-13.

He also proposed covering 8,800 km under the National Highways Development Programme next year. The ministry is set to achieve its target of awarding projects covering 7,300 km during 2011-12. This would be 44 per cent higher than the best-ever length of 5,082 km awarded in 2010-11.

The minister has focused on getting private money to the sector, strengthening the implementation and also provided more avenues of raising funds with measures such as relaxing external commercial borrowings' guidelines. All this will provide an impetus to the sector. Recapitalisation of banks will also make them cash-rich and help in funding the infrastructure projects.

INFRASTRUCTURE

Analysts say the government expects a major part of the ~60,000 cr to come from the private sector

|Tax-free bonds of ~60,000 cr to be allowed for financial infrastructure projects, from ~30,000 cr in 2011-12 |Allocation to road transport and highways ministry enhanced by 14 per cent to ~25,360 crore |Projects covering 8,800 km to be awarded under NHDP, against 7,300 km in 2011-12 |Irrigation, terminal markets, common infrastructure in agriculture markets, soil testing laboratories and capital investment in fertiliser sector, oil and gas/LNG storage facilities and oil and gas pipelines, fixed network for telecommunication and telecommunication towers made eligible for VGF  
 
---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

Popular posts from this blog

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...

Bharat Bond ETF

Top SIP Funds Online   The government of India has paved the way for the launch of India's first corporate bond ETF called as Bharat Bond ETF. Edelweiss Mutual Fund will be managing it. The fund is mandated to invest in AAA-rated bonds of select public sector companies (see the table 'List of constituents and their proportions in the portfolio'). The government has a threefold objective behind launching this product. One, to deepen the liquidity of the Indian debt markets and provide a gateway for easy retail participation. Two, to solve investors' dilemma of picking premium bonds. Lastly, to help the underlying government-owned companies raise funding for their operations. But does it make sense for you, the investor, to invest in it? Lets find out. What is the product? As the name suggests, it is an exchange-traded fund which will be listed on a stock exchange from where its units can be bought and sold post launch. It will have two variants - one maturing in 3 ye...

What is Electronic Clearing Service (ECS)?

  As the name suggests, it's an electronic process through which money can be transferred from one bank account to another. According to RBI, this mode is usually used for regular payments and receipts, like distribution of dividend, interest, salary, pension etc. This mode is also used for collection of bills for telephone, electricity, water, various types of taxes, payment of EMIs , investments in mutual funds , payment of insurance premium etc. There are two types of ECS , like most other banking transactions, ECS credit and ECS debit. An ECS credit is used by a bank account holder , usually a large company or an institution for services like payment of dividend, in terest, salary, pension etc. If your mutual fund pays you dividend to your bank account, of all probability it is being paid through ECS credit.ECS debit, on the other hand, is used when a company or an institution is getting money from a large number of people. For example if you are investing in a mutual fund sc...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now