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Budget 2012 13
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Budget 2012 13

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Transcript

  • 1. Allocation & Sources of Revenues
  • 2. Prime focus To reduce the fiscal deficit. To achieve growth. To maintain inflation at tolerable level.
  • 3. Overview of the Economy GDP growth at 6.9%. Growth in agriculture at 2.5%. Growth in industrial activity at 4.5%. Rate of both savings and investment slowed.
  • 4. Source of RevenueDirect taxCustoms DutiesUnion excise dutiesService tax Gross Tax Receipt in budget is estimated Rs.10,77,612 crores.
  • 5. Revenue receiptsIncome Tax:- Rs 1,95,786 croreCustoms:- Rs 1,86,694 croreUnion Excise Duties:- Rs 1,94,350 crore Service Tax will yield:- Rs1,24,000 crore
  • 6. 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.
  • 7. 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.
  • 8. 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).
  • 9. Subsidies Endeavour to keep central subsidies under 2% Mobile based fertilizer management system. Petroleum products transparency portals. Food Security Bill.
  • 10. 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.
  • 11. 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.
  • 12. Foreign Institutional Investor Allowed to participate in Bond Market. Household to save more into financial products.
  • 13. Goods & Services Tax GST to be applicable by august 2012. It will benefit for Indian E-commerce as supply chain management become cost effective.
  • 14. CONCLUSION