Budget 2011-12 Highlights: Sprism

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The Finance Minister, Mr. Pranab Mukherjee unveiled and presented the Union Budget for 2011-12 to the Parliament today. The following are the key highlights of the same:  

* GDP estimated to have grown at 8.6% in 2010-11
* Indian economy expected to grow at 9% in 2011-12
* Critical institutional reforms set pace for double-digit growth
* Five-fold strategy to deal with black money. Group of Ministers (GoM) to suggest ways for tackling corruption
* Public Debt Management Agency of India Bill to come up next financial year
* Direct Tax Code (DTC) to be effective from April 01, 2012
* Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted
* Rs 40,000 crore to be raised through disinvestment in 2011-12
* FDI policy to be liberalized further
* SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement
* FII limit raised for investment in corporate bonds in infrastructure sector
* Additional banking license to private sector players proposed
* Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3,000 crore to NABARD
* Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore
* Rs.10,000 crore for NABARD Short Term Rural Credit Fund for 2011-12
* 15 more mega food parks during 2011-12
* National food security bill to be introduced this year
* 23.3% increase in allocation for infrastructure
* Tax-free bonds of Rs.30,000 crore proposed by government undertakings
* Environmental concerns relating to infrastructure projects to be considered by Group of Ministers
* Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation
* Bharat Nirman allocation increased by Rs.10,000 crore
* Allocation for education increased by 24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%
* 1500 institutes of higher learning to be connected by March 2012 with Knowledge Network
* Fiscal deficit kept at 4.6% of GDP for 2011-12
* Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
* Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
* Surcharge on corporates lowered to 5%

Mahindra Finance Samruddhi Fixed Deposits: Sprism

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Mahindra Finance has started accepting Fresh Deposits under the scheme Mahindra Finance Samruddhi Fixed Deposits w.e.f. Jan 24, 2011. The interest rates have been revised upwards by 0.50% under all the categories and tenure. This FD scheme has been rated FAAA by CRISIL indicating highest safety.

Cumulative Scheme					Non - Cumulative Scheme
Period	Amount Payable (Rs)	Interest (% p.a)	Effective Yield (% p.a)		Period	Interest (% p.a) Half Yearly	Interest (% p.a) Quarterly
12 Months	10,850	8.50	8.50		12 Months	8.25	8.15
18 Months	11,391	9.00	9.27		24 Months	9.25	9.15
24 Months	11,990	9.50	9.95		36, 48,  60 Months	9.75	9.65
36 Months	13,310	10.00	11.03
48 Months	14,641	10.00	11.06		Minimum Amount (Rs)	25,000	50,000
60 Months	16,105	10.00	12.21

• Minimum Amount (Cumulative Scheme) Rs: 10,000
• Additional amount in this scheme will be accepted in multiples of Rs.1,000
• Effective yield is compounded annually for cumulative scheme
• Senior Citizens & Employees will get an additional interest of 0.25% p.a.
• Renewals will be accepted in the scheme prevailing on the date of maturity and only principal amount will be renewed

Note: Interest rates and credit rating are subject to change. Kindly check the scheme details before investing.

Company Financials:

(Rs. Lakh)

Year Ended	PBT	PAT	Dividend on Equity Shares
2007-08	27197.15	17702.40	45%
2008-09	32562.09	21452.06	55%
2009-10	52056.85	34270.73	55%

IFCI Long Term Tax Saving Infrastructure Bonds - Series II: sprism,

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We wish to bring it to your notice that the subscription period for IFCI Long Term Infrastructure Bonds - Series II has been extended upto January 12, 2011. Investments upto a maximum of Rs.20,000 is eligible for deduction u/s 80CCF for the Financial Year 2010-11. The other details of these bonds are as follows:

·         The tax benefit would be limited to a maximum amount of Rs.20,000. The minimum application is one bond (FV of Rs.5,000)

Fixed Deposit Schemes with High Interest Rates: sprism,

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ttractive Fixed Deposit schemes that fetch high returns with high degree of safety. Kindly find the details below:

1.    IBN 18 Fixed Deposit:

Get 11% pa with IBN-18 Fixed Deposit -Sprism

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IBN - 18 (The Media Group) will be starting accepting Fresh deposits w.e.f. 1st January, 2011. They have a limit of Rs. 8 cr only.

COMPANY	Min. Deposit Amount	INTEREST RATES
		6 months	12 months	24 months	36 months
IBN 18 Non - Cumulative Scheme	10000*1000	9.00 %	11.00 %	11.00 %	11.00 %
IBN 18  Cumulative Scheme	10000*1000	-	11.00 %	11.00 %	11.00 %

Note:

• 0.50% extra to be provided to Sr. Citizens & employees of the company.

This will be closing by 7^th January 2011,

Fixed Deposits: HDFC Platinum Deposit Scheme: Sprism

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If you are looking for a Fixed Deposit (FD) scheme that fetches an attractive rate of interest with high safety, then HDFC Platinum Deposit Scheme is one of the best products available in the current market scenario. The scheme offers attractive rates in the range of 8.50-8.80% p.a for 22/33 Months tenure w.e.f. December 09, 2010. It also carries a rating of ‘FAAA’ and ‘MAAA’ by CRISIL and ICRA respectively indicating highest safety.

Rate of Interest:

Period	Monthly Income Plan	Quarterly Option	Half Yearly Option	Annual Option
22 Months	8.50%	8.55%	8.65%	8.80%
33 Months	8.50%	8.55%	8.65%	8.80%
Minimum Amount (Rs)	40,000	20,000	20,000	20,000

The above rates are applicable for deposits below Rs. 1 Cr

Scheme Details:

• Loan against deposit available after 3 months from the date of deposit
• No TDS on interest paid upto Rs.5,000 in a financial year
• Interest compounded annually under Cumulative Interest Plan
• 0.25% p.a. additional interest for Senior Citizens

Who can apply?

Individuals: Residents, minors through guardians, HUF and NRIs

Trusts & Institutions: Charitable Trusts, religious trusts, educational institutions, association of persons, co-operative societies, partnership firms and others as decided by management

About HDFC:

HDFC was incorporated in 1977 with the primary objective of meeting a social need - that of promoting home ownership by providing long-term finance to households for their housing needs. It is a professionally managed organisation with a board of directors consisting of eminent persons, professionals who represent various fields including finance, taxation, construction and urban policy & development. Over the years, HDFC has developed a vast client base of borrowers, depositors, shareholders and agents, and it hopes to capitalise on this loyal and satisfied client base for future growth. Internal systems have been developed to be robust and agile, to take into account changes in the volatile external environment. HDFC has developed a network of institutions through partnerships with some of the best institutions in the world, for providing specialised financial services.

Company Financials:

Particulars	2005-06	2006-07	2007-08	2008-09	2009-10
Gross Income (Rs.Cr)	4,278.39	5,896.26	8,196.05	11,017.66	11,360.83
Profit After Tax (Rs.Cr)	1,257.30	1,570.38	2,436.25	2,282.54	2,826.49