Positive Aspects of the Union Budget 2010

The Union budget has several positive aspects to it such as the changes in the tax slabs, social security and investment in infrastructure. Revision of existing income tax slabs has been welcomed by most Indians. This feel-good sentiment continues with other initiatives that were announced in the Union budget 2010 such as the green incentives, women’s development and the allocation of housing scheme for urban slum dwellers

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Union Budget 2010 and Petrol Price Hike

However, the average citizen is most affected by the price hike in petrol because this implies the increase in the prices of all essential food commodities. Be it a professional or a housewife, the inflationary prices will be something to worry about when it comes to managing food expenses. For example, all vegetables in Delhi are brought from other states through trucks. Now, the prices of these vegetables will rise further. 

Union Budget 2010 and Hospitality Industry

The budget boosted the hospitality industry as companies can claim investment linked deduction under income tax for building any new hotels in any part of India. This incentive will benefit various categories of hotels in India. Further, it will generate tremendous employment opportunities.

Union Budget 2010 and Solar Generation Opportunities

A beneficial tipping point has been the reduction of customs duty on solar panels by 5% and exemption of the excise duty on solar photovoltaic panels. Solar generation opportunities in the country’s capital have received a significant boost. It will encourage more consumers to opt for solar panels on their rooftops either for their own consumption or it can be sold back through the grid to the State. This budget has also listed exemptions on customs duty for ground-source heat pumps, which means that an opportunity for optimizing geo-thermal power is bound to yield tangible results.