Union Budget of India 2012-13 live and highlights

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Union Finance minister Mr. Pranab Mukherjee presented Union budget for the year 2012-2013 in Parliament today.

Highlight of budget have been following.

  • Interest income from banks tax-free up to Rs 10,000.
  • Health insurance deduction up to Rs 5000 for preventive health checkup.
  • Senior citizens to be exempt from advance tax payments
  • Income from Rs 5 lakh to Rs 10 lakh – 20 per cent tax
  • No change in corporate tax rate
  • Income Tax at 30% for income of over Rs 10 lakh
  • FY13 market borrowing at Rs 4.79 lakh cr
  • Individual income tax exemption limit raised to Rs 2 lakh
  • Income Tax at 10% for Rs 2-5 lakh
  • Rs 1000 cr for National Skill Development Fund in FY13
  • Rs 1000 cr for National Skill Development Fund in FY13
  • Total expenditure outlay for FY13 at Rs 15 lakh crore.
  • 40 crore Aadhar enrollment in year beginning April 2012
  • Information on black money stashed abroad has started flowing in, prosecution to be executed in some cases
  • Net tax receipts of the Centre in 2011-12 stands at Rs 7,71,071 crore
  • DTC rates introduced on personal income tax
  • Rs 200 crore for Research Rewards for agricultural researchers for breakthroughs.
  • Fiscal deficit at 5.9% in FY 12
  • Tables a white paper on black money issue
  • Gross tax receipts at 10.77 lakh crore
  • Non plan expenditure at Rs 9.7 lakh crore
  • at 12.10 PM Stock market hit bottom, 0% up from yesterday. it means investor sees no option for him.
  • Gross taxes estimated at 10.6% of GDP
  • Pranab proposes to bring white paper on black money in the current Parliament session
  • Pranab Mukherjee allots Rs 24,000 crore for rural road plan in FY13
  • Rs 200 crore for Research Rewards for agricultural researchers for breakthroughs.

 

  • 7 medical colleges to be upgraded to All India Institutes.

  • Rs 15,850 crore to be allocated to Integrated Child Development Scheme in 2012-13 as against Rs 10,000 crore this fiscal.
  • To introduce new law for micro finance institutions

  • Defence outlay at Rs 1.95 lakh crore
  • Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
  • Rs 193,407 crore provision made for defence services in 2012-13.
  • Allocation for rural drinking water and sanitation scheme increased from Rs 11,000 crore in FY 12 to Rs 14,000 crore in 2012-13
  • Maternal and child nutrition scheme to be launched in 200 districts ICDS to get 58 per cent
  • Rs 20,000 crore to be spent on rural infrastructure development, including Rs 5,000 crore for creating warehousing facilities.
  • Allocation of Rs.200 crore for research on climate change.
  • Integrated Child Development Scheme to be strengthened and restructured with allocation of Rs.15,850 crore.
  • FY13 National Social Assistance Scheme outlay at Rs 8447 crore
  • 6,000 schools have been proposed to be set up in 12th Year Plan
  • Rural development fund of 20000 crores
  • Economy to grow at 7.6% in 2012-13: FM
  • NRHM allocation hiked to 20820 crores
  • Propose credit guarantee fund for education loans
  • Rs 15,850 crore to be allocated to Integrated Child Development Scheme in 2012-13 as against Rs 10,000 crore this fiscal.
  • Allocation for rural drinking water and sanitation scheme increased from Rs 11,000 crore in FY 12 to Rs 14,000 crore in 2012-13
Rs 14000 crore for rural drinking and sanitation in FY 13
  • New state owned irrigation company to be set up
  • Govt doubles allocation for tax-free bonds to Rs 60,000 crore for financing infrastructure projects in 2012/13
  • FY13 mid-day meal scheme outlay at Rs 11,937 cr
  • Propose National Mission for Food Processing.
  • FY13 midday meal scheme outlay at Rs 11937 crore.
  • Infrastructure will require Rs 50 lakh crore in 12th Plan, half of this from the private sector.
  • Completion of highway projects 44 percent higher than in previous fiscal.
  • FY13 mid-day meal scheme outlay at Rs 11,937 cr
  • External commercial borrowing of up to $1 billion permitted for airline sector.
  • Govt doubles allocation for tax-free bonds to Rs 60,000 crore for financing infrastructure projects in 2012/13
  • To allow qualified foreign investors in Indian corporate debt markets
  • Propose National mission for food processing
  • To allocate Rs 14232 cr to UID project, up 13% in FY 13
  • Agri credit target for FY 13 seen at Rs 5.75 lakh crore, up 1 lakh crore
  • Interest subvention for short term crop loan continues
  • 10000 crores allocated to NABARD to fund RRBs
  • Fuel supply constraints have hit power supplies nationally
  • Will allow external commercial borrowing for power, housing road construction companies
  • Plan outlay for agriculture raised by 18% to Rs 20208 crore in FY 13
  • Rs 300 crore for intensified irrigation program
  • Government to set up Rs 5,000 crore venture fund for MSME sector
  • Rs 242 crore project with World Bank assistance to improve dairy production.
  • Encourage small and medium artisans. Powerloom mega clusters to be set up.
  • India to become self sufficient in manufacturing sector by next year. Enhanced production will take place.
  • Government to set up Rs 5,000 crore venture fund for MSME sector
  • Propose to allocate Rs 10,000 cr for NABARD to refinance RRBs.
  • Irrigation, dams to be eligible for special funding
  • Fuel supply constraints have hit power supplies nationally
  • To make 8,800 km of highways in FY13; outlay raised
  • Telecom towers made eligible for viability gap funding
  • Oil and gas pipelines to be eligible for viable gap funding
  • To allow qualified FII into domestic corporate bonds
  • Rs 15890 crores for recapitalization of PSU banks
  • 12th plan infra investment at Rs 50 lakh crore
  • Changes in IPO norms to increase participation in small towns
  • Sensex is showing optimistic mood at 11 PM, up 83 points
  • Weak growth due to industrial slowdown
  • Economy to grow at 7.6% in 2012/13
  • To roll out computerized scheme for fertilizer subsidy transfer
  • GST to be operational by August 2012
  • Rs 30,000 cr divestment target in FY 13
  • Efforts continue to arrive at consensus for 51% in retail FDI
  • FY13 subsidy to be under 2% of GDP
  • The Nandan Nilekani panel recommendation on direct transfer of subsidy accepted
  • Subsidies have hit fiscal balance
  • Government to include advance pricing in Finance Bill 2012
Defence outlay at Rs 1.95 lakh crore

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