All you need to know- Indian budget 2013-2014 highlights, winners and losers.

* Fiscal deficit seen at 5.2 pct of GDP in 2012/13
* Fiscal deficit seen at 4.8 pct of GDP in 2013/14
* Gross market borrowing seen at 6.29 trln rupees in 2013/14
* Net market borrowing seen at 4.84 trln rupees in 2013/14
* Net short-term borrowing seen at 198.44 bln rupees in 2013/14
* To buy back 500 bln rupees worth of bonds in 2013/14
* Total budget expenditure seen at 16.65 trln rupees in 2013/14
* Non-plan expenditure estimated at about 11.1 trln rupees in 2013/14
* India's 2013/14 plan expenditure seen at 5.55 trln rupees
* Revised estimate for total expenditure is 14.3 trln rupees in 2012/13, which is 96 pct of budget estimate
* 2013/14 major subsidies bill estimated at 2.48 trln rupees from 1.82 trln rupees
* Petroleum subsidy seen at 650 bln rupees in 2013/14
* Petroleum subsidy assumes crude oil price at $110/barrel
* Revised petroleum subsidy for 2012/13 at 968.8 bln rupees
* Estimated 900 bln rupees spending on food subsidies in 2013/14
* Revised food subsidies at 850 bln rupees in 2012/13
* Revised 2012/13 fertiliser subsidy at 659.7 bln rupees
* Propose surcharge of 10 pct on rich taxpayers with annual income of more than 10 mln rupees a year
* To increase surcharge to 10 pct on domestic companies with annual income of more than 100 mln rupees
* For foreign companies, who pay the higher rate of corporate tax, the surcharge will increase from 2 pct to 5 pct
* To continue 15 pct tax concession on dividend received by India companies from foreign units for one more year
* To impose withholding tax of 20 pct on profit distribution to shareholders
* Amnesty on service tax non-compliance from 2007
* 10 bln rupees for first instalment of balance of GST (Goods and Services Tax) payment
* Propose to reduce securities transaction tax on equity futures to 0.01 pct from 0.017 pct
* To introduce commodities transaction tax (CTT)
* CTT on non-agriculture futures contracts at 0.01 pct
* India faces challenge of getting back to its potential growth rate of 8 pct
* India must unhesitatingly embrace growth as highest goal
* Expect 133 bln rupees through direct tax proposals in 2013/14
* Expect 47 bln rupees through indirect tax proposals in 2013/14
* Target 558.14 bln rupees from stake sales in state-run firms in 2013/14 vs estimate of 240 bln rupees in 2012/13
* Expect revenue of 408.5 bln rupees from airwave surcharges, auction of telecom spectrum, licence fees in 2013/14
* India's greater worry is current account deficit
* Will need more than $75 bln this year and next year to fund current account deficit
* Food inflation worrying, will take all steps to augment supply side
* To issue inflation-indexed bonds
* Propose capital allowance of 15 pct to companies on investments of more than 1 bln rupees
* Foreign institutional investors (FIIs) can use investments in corporate, government bonds as collateral to meet margin requirements
* Insurance, provident funds can trade directly in debt segments of stock exchanges
* FIIs can hedge forex exposure through exchange-traded derivatives
* Investor with less than 10 pct stake in a company will be regarded as FII, more than 10 pct stake as FDI (foreign direct investor)
* Stock exchange regulator will simplify know-your-customer norms for foreign portfolio investors
* To implement quickly recommendations of financial sector legislative reforms commission
* To cut factory gate duty on trucks to 13 pct from 14 pct
* Zero customs duty for electrical plants and machinery
* Move to revenue-sharing from profit-sharing policy in oil and gas sector
* To equalise duties on steam and bituminous coal to 2 pct customs duty and 2 pct cvd (countervailing duty)
* To cut duty on exports of precious and semi-precious stones to 2 pct from 10 pct
* To provide 140 bln rupees capital infusion in state-run banks in 2013/14
* To allocate 2.03 trln rupees to defence in 2013/14
* 801.94 bln rupees to rural development in 2013/14
* 270.49 bln rupees for agriculture in 2013/14
* "Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working."
* Higher allocation for building roads should help highway developers, including IRB Infrastructure (IRBI.NS) and Jaiprakash Associates (JAIA.NS). The budget also proposed a regulatory authority for the road sector and awarding of 3,000 kilometers of projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh in the first six months of 2013/14.
* Encouragement for infrastructure debt funds, a source for long-term low-cost finance for large projects, will be positive for companies, including construction and engineering conglomerate Larsen & Toubro (LART.NS) and GVK Power & Infrastructure Ltd (GVKP.NS).
* Textile companies such as Bombay Rayon (BRFL.NS) and Arvind Ltd (ARVN.NS) are seen benefitting from a "zero excise duty" proposal for the struggling readymade garment industry.
* Broadcasting companies including Entertainment Network India (ENIL.NS), TV Today Network (TVTO.NS), Reliance Broadcast (REBN.NS) and HT Media (HTML.NS) are expected to gain from the proposal to expand private FM radio services to 294 more cities.
(Chidambaram calls for tough choices, click here)
(Rich taxpayers to pay 10 percent surcharge, click here)
(Budget 2013 highlights, click here)
* Increase in excise duty on sport utility vehicles (SUVs) to 30 percent from 27 percent is seen hitting demand for such vehicles made by companies that include Mahindra & Mahindra (MAHM.NS) and Tata Motors (TAMO.NS).
* A proposal to raise the excise duty by about 18 percent on cigarettes is negative for India's biggest tobacco company, ITC Ltd (ITC.NS).
* Explorers such as ONGC Ltd (ONGC.NS), Oil India (OILI.NS), Reliance Industries (RELI.NS) and Cairn India (CAIL.NS) may face more investment risk, as cost sharing recovery mechanism will be withdrawn after planned move to a revenue-sharing policy from profit-sharing now, according to KPMG and Oil India.
However, lobby group Federation of Indian Chambers of Commerce and Industry, PricewaterhouseCoopers and Essar Oil (ESRO.NS) said the change in policy would bring more transparency in the sector and do away with need for government approvals for capital expenditure which are beneficial to companies.
* Gross market borrowing is seen at 6.29 trillion rupees in 2013/14, higher than market estimated, which is negative for banks including State Bank of India (SBI.NS_18">SBI.NS) and Punjab National Bank (PNBK.NS) as it is likely to trigger worries over liquidity in the system.
* Higher excise duty on mobile phones priced at more than 2,000 rupees, to 6 percent from 1 percent currently, will likely lead to costlier handsets and is a negative for handset makers, including Nokia (NOK1V.HE) and Samsung Electronics (005930.KS).
* Lack of measures to boost the housing sector and no clarity on a Real Estate Regulation Bill offset positive proposals like additional tax deduction on home loans of up to 2.5 million rupees and allocation of 20 billion rupees for an Urban Housing Fund.
This is seen as negative for property developers such as DLF (DLF.NS), Unitech (UNTE.NS), Oberoi Realty (OEBO.NS) and Sobha Developers (SOBH.NS).
(Reporting by India Company News team; Editing by Ranjit Gangadharan)