Budget 2013 Factbox: Expectations from P. Chidambaram

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Spending on defence, rail, other development and welfare projects 'likely to be cut'. (Express Photo) Spending on defence, rail, other development and welfare projects 'likely to be cut'. (Express Photo)
SummarySpending on defence, rail, other development and welfare projects 'likely to be cut'.

duty on iron ore or raise duty on some steel imports to support domestic steel industry; could reduce iron ore export duty at behest of mines ministry

* May cap imports or cut number of companies authorised to import gold if purchases have not slowed by Feb. 28

* Production tax on jewellery and unveiling of gold saving schemes with some tax breaks seen

* May raise import tax to cut rising purchases of vegetable oils from Malaysia and Indonesia

* May levy transaction tax on commodity futures

* May give tax breaks to new LNG terminals, could also remove customs duty on LNG imports

* May extend tax breaks for new oil refineries and projects

* May implement export tax on value-added oilmeal products

COMPANIES

* Auto industry hopes for excise duty cut on small cars to 10 percent from 12 percent* Budget may impose additional duty on diesel cars and utility vehicles

* Roadmap expected for capital infusion into state-owned banks

* IT services providers hope for clarity around transfer pricing norms, foreign tax credit and refund of service tax claims

* Telecommunications companies lobby for reduction in levies and tax breaks

* Real estate sector wants tax concessions and other fiscal benefits to builders, financiers and buyers of affordable housing

* Retail and consumer goods companies want industry status and an independent ministry set up for retail as well as a cut in rate of service tax on commercial property rent

* Budget may propose increase in excise duty for cement makers

* May remove import duty on thermal coal and introduce tax-free bonds for power sector($1 = 54.1 Indian rupees)

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