BUDGETAn estimation of the revenue andexpenses over a specified futureperiod of time. A budget can bemade for a person, family, groupofpeople, business, government, country, multinational organizationor just about anything else thatmakes and spends money.
AgricultureInfrastructureEducationEnvironmentMicro, Small and Medium EnterprisesTextileTax proposalDefenseBUDGET 2013Banking
AGRICULTURE• For 2013-14,target of agriculturalcredit kept at Rs.7 lakhs crore.• Credit Guarantee Fund to becreated in the Small Farmer’sAgro Business Corporation withan initial corpus of 100 crore.• Agricultural research providedRs.3,415 crore
INFRASTRUCTURE• Infrastructure tax-free bond ofRs.50,000 crore in 2013-14.• Rs.5,000 crore to NABARDto finance construction forwarehousing.
BANKING• All branches of public sectorbanks to have ATM by31.3.2014.• Proposal to set up India’s firstWomen’s Bank as a publicsector bank. Provision ofRs.1,000 crore as initial capital.• Rs.6,000 crore to Rural HousingFund in 2013-14.
EDUCATION• Rs.5,284 crore allocated toMinistries/Departments in 2013-14for scholarships to studentsbelonging to SC, ST, OBC,Minorities and girl children.• Mid Day Meal Scheme (MDM) tobe provided Rs.13,215 crore.
DEFENSE• Allocation for Defence increased to Rs.2,03,672crore including Rs.86,741 crore for capitalexpenditure.
TEXTILE• Working capital and term loans at a concessionalinterest of 6% to handloom sector.• Scheme of Fund for Regeneration of TraditionalIndustries (SFURTI) extended to 800 clusters.
ENVIRONMENT• Government to provide lowinterest bearing fund from theNational Clean Energy Fund(NCEF) to IREDA to on-lend toviable renewable energyprojects.• ‘Generation-based incentive’reintroduced for wind energyprojects and Rs.800 croreallocated for this purpose.
TAX PROPOSAL• Tax proposals on Direct Taxes sideestimated to yield to Rs.13,300crore and on the Indirect Tax sideRs.4,700 crore.• Investment allowance at the rate of15% to manufacturing companiesthat invest more than Rs.100 crorein plant and machinery during theperiod 1.4.2013 to 31.3.2015.
MICRO, SMALLAND MEDIUMENTERPRISES• Refinancing capacity of SIDBIraised to Rs.10,000 crore.• Another sum of Rs.100 croreprovided to India MicrofinanceEquity Fund.• A corpus of Rs.500 crore to SIDBIto set up a Credit Guarantee Fundfor factoring.
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