Highlights of the Budget
Finance
Minister P Chidambaram on Thursday announced several measures in the Union
Budget 2013-14.
Plan
expenditure in 12th Five Year Plan revised to Rs 14,30,825 crore or 96 per cent
of budgeted expenditure
Budget
expenditure is Rs 16,65,297 crore and Plan expenditure Rs 5,55, 322 crore: FM.
All public sector bank branches will have an ATM
Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go
up to 185 million tonnes in 2016-17, says FM.
Policy on exploration of shale gas on the anvil; natural gas pricing policy
will be reviewed and uncertainty removed: FM.
Green revolution in east India significant. Rice output
increased in Assam, Odisha, Jharkhand and West Bengal; Rs 1,000 crore allocated
for eastern states Rs 5,387 crore to be allocated for integrated watershed
programme for farmers in 2013-14, an increase from Rs 3,050 crore in the
current fiscal.
Rashtriya Swasthya Bima Yojana to include rickshaw
pullers, taxi drivers and ragpickers.
National Institute of Sports Coaching to be set up in
Patiala at a cost of Rs 253 crore.
Rs 6,000 crore to be allocated for rural housing fund in
2013-14.
Standing Council of Experts in Ministry of Finance to
examine transaction cost of doing business in India
Financial Sector Legislative Reforms Commission (FSLRC)
to submit its report next month, says FM.
Rs
5400 crore to department of space and Rs 5600 crore to department of atomic
energy.
Tax free bonds issue to be allowed up to Rs 50,000 crore
in 2013-14 strictly on capacity to raise funds from the market, says FMRs 5,000
crore will be made available to NABARD to finance construction of godowns and warehouses:
FM
Rs
14,000 crore capital infusion into public sector banks in 2013-14, says FM.
17 per cent hike in education, 22 per cent in agriculture, 46 per cent for
rural development
Defence
gets Rs 2,20,000 crore, 86721 crore for capital expenditure.
Govt to set up India's first women's bank as a public sector bank by October,
says FM.
Rs 80194 crore for rural development projects
PPP
project with Coal India in the pipeline to stem the outflow of forex.
Rs 500
crore allocated for programme on crop diversification.
Eastern
Indian states to get Rs 1,000 crore allocation for improving agricultural
production.
Rs 7
lakh crore target fixed for agri credit for 2013-14 compared to Rs 5.75 lakh
crore in the current year.
Rs 110
crore to be allocated to the department of disability affairs, says FM.
Rs
1069 crore allocated to Department of Aryush: FM.
Coal
imports to rise to 185 million tonnes from 100 million in four years.
Inflation
indexed bonds and NSCs to be introduced
Zero
custom duty for electrical machinery
National Skill Development Corporation to train 5 crore people in current plan period.
Rs
11500 crore for backward areas
The
revised expenditure target is Rs 14,30,825 crore or 96 per cent of Budget estimate
for this fiscal. In 2013-14, the budget estimate is Rs 16,65,297 crore
Rs 5,80,000 crore to states and Union Territories
All
towns of India with a population of over 10000 to have an LIC office
FM
allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan
Income
level for Rajiv Gandhi Equity Scheme raised by Rs 2 lakh
First
home loan up to Rs 25 lakh will get an additional Rs 1 lakh interest deduction
Battle
against inflation must be fought at all fronts: FM.
Faced
with huge fiscal deficit, I have no choice but to rationalise expenditure: FM
Rs
3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the
revised estimates.
Rs
13,215 crore to be provided for mid-day meal scheme
Rs
5,284 crore to various Ministries for scholarships for SC/ST, OBC and minority
students
Medical
colleges in six more AIIMS-like institutions to start functioning this year; Rs
1650 crore allocated for the urpose.
Need $75 bn to bridge current account deficit
Average
economic growth rate in 11th Plan period is 8 per cent, highest ever in any
Plan period: FM.
Current
account deficit is a bigger worry; fuel and gold imports responsible
Foreign
investments must be encouraged.
Accelerating
growth is the main goal.
Core inflation is down to 4.2 per cent, says the minister. Food inflation remains
a worry.
Need
to ratinonalise expenditure.
We are
not unaffected by what happens in the global economy
Global
economic growth slowed from 3.9% in 2011 to 3.2% in 2012
Only
China and Malayasia are the major countries that grew faster than India last
year
Without
growth, there will be no inclusiveness and development.
Growth
rate under UPA was highest
India can retain its high growth track
Economic space constrains due to high fiscal deficit, lower savings and investment
and tight monetary policy: FM.
