Defense Defense budget has been given a huge jump from Rs.163000 crore to Rs. 193408 crore. Capital expenditure will be Rs. 80000 crore. Defense budget remains at 1.9% of GDP.
Healthcare & research Got 96% hike in budgetary allocation with 30 crore out of department’s total. Allocation of Rs. 660 crore for developing tools for prevention and management of epidemics as against Rs.588.26 crore. Research on matters related to epidemics, natural calamites and development tools. National Urban Health Mission Launched.
Education sector 18% hike in the budgetary allocation. Rs.61427 crore has been allocated. Of which 29% & 22% are allocated to Rashtriya Madhyamik Shikhsha Abhiyan (RMSA) and Sarv Shiksha Abhiyan (SSA).
Subsidies Endeavour to keep central subsidies under 2% Mobile based fertilizer management system. Petroleum products transparency portals. Food Security Bill.
Cross border An increase in the 23% of external affairs which Got Rs.9,661.97 crore. An increase of Rs.1825.97 crore in ministry of external affairs including assistance to:-I. Latin America countries from Rs.0.50 to Rs.15 crore.II. Bangladesh from Rs.8 to Rs.30 croreIII. Bhutan from Rs.2030 to Rs.2638 crore.IV. Nepal from Rs.150 to Rs.270 crore.
Balance of payment Huge imports of gold cause strain on the BOP and effect exchange rate. India’s gold and silver import during past 11 months stood at $54.5 billion. FM has proposed to increase basic custom duty Gold.
Foreign Institutional Investor Allowed to participate in Bond Market. Household to save more into financial products.
Goods & Services Tax GST to be applicable by august 2012. It will benefit for Indian E-commerce as supply chain management become cost effective.