Pages

Wednesday, March 2, 2011

Highlights of Union Budget 2011-2012

1. Critical institutional reforms set pace for double-digit growth

2· Scaled up flow of resources infuses dynamism in rural economy

3· GDP estimated to have grown at 8.6 per cent in 2010-11

4· Exports grown by 9.6 per cent, imports by 17.6 per cent in April-January 2010-11 over corresponding period last year

5· Indian economy expected to grow at 9 per cent in 2011-12.

6· Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption

7· Public Debt Management Agency of India Bill to come up next financial year

8· Direct Tax Code (DTC) to be effective from April 01, 2012

9· Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted

10· Rs 40,000 crore to be raised through disinvestment in 2011-12

11· FDI policy to be liberalized further

12· SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement

13· FII limit for investment in corporate bonds in infrastructure sector raised

14· Additional banking license to private sector players proposed

15· Rs 6000 crore to be provided in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8 per cent in public sector banks

16· Rs 500 crore to be provided to regional rural banks to maintain 9 per cent CRAR

17· India Microfinance Equity Fund of Rs 100 crore to be created by SIDBI

18· Rs 500 crore Women SHG Development Fund to be created

19· Micro Small and Medium Enterprises MSME gets boost as Rs 5000 crore provided to SIDBI and Rs 3000 crore to NABARD

20· Existing housing loan limit enhanced to Rs 25 lakh for dwelling units

21· Provision under Rural housing Fund enhanced to Rs 3000 crore

22· Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs 7860 crore

23· Allocation of Rs 300 crore to promote 60000 pulses villages in rainfed areas

24· Rs 300 crore vegetable initiative to achieve competitive prices

25· Rs 300 crore to promote higher production of nutri-cereals

26· Rs 300 crore to promote animal based protein

27· Rs 300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages

28· Credit flow to farmers raised from Rs 3,75,000 crore to Rs 4,75,000 crore

29· Rs 10,000 crore for NABARD’s Short Term Rural Credit Fund for 2011-12

30· 15 more mega food parks during 2011-12

31· National food security bill to be introduced this year

32· Capital investment in storage capacity to be eligible for viability gap funding

33· 23.3 per cent increase in allocation for infrastructure

34· Tax-free bonds of Rs 30,000 crore proposed by government undertakings

35· Environmental concerns relating to infrastructure projects to be considered by Group of Ministers

36· National Mission for Hybrid and Electric Vehicles to be launched

37· 7 Mega clusters for leather products to be set up

38· Allocation for social sector increased by 17 per cent amounting to 36.4 per cent of total plan allocation

39· Bharat Nirman allocation increased by Rs 10,000 crore

40· Rural broadband connectivity to all 2.5 lakh panchayats in three years.

41· Bill to amend Indian Stamp Act to introduce. Rs 300 crore scheme for modernization stamp and registration administration

42· Significant increase in remuneration of Angawadi workers and helpers

43· Allocation for education increased by24 per cent. Rs 21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40 per cent

44· 1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network.

45· National Innovation Council set up. Additional Rs 500 crore for National Skill Development Fund

46· Plan allocation for health stepped up by20 per cent

47· Indira Gandhi National Old Age Pension Scheme liberalized further

48· Rs 200 crore for Green India Mission

49· Rs 200 crore for cleaning of rivers

50· Rs 8000 crore provided for development needs of J&K

51· 10 lakhs Aadhaar(UID) numbers to be generated everyday from 1st October

52· Fiscal deficit kept at 4.6 per cent of GDP for 2011-12

53· Income Tax exemption limit for general category in individual tax payers enhanced from Rs 1,60,000 to Rs 1,80,000

54· Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs 5,00,000 IT exemption

55· Surcharge on corporates lowered to 5 per cent