WHAT IS UNION BUDGET?The Union Budget is the financial annual reportof India as a country. It contains the government ofIndias revenue and expenditure for the end of aparticular fiscal year, which runs from April 1 toMarch 31 It comprises the revenue budget and thecapital budget. It also contains estimates for thenext fiscal year. Finance Minister Chidambaram Palaniappanproposed Union Budget 2013-2014 in LokShabha.
WOMEN SECTOR 10 billion rupees for establishing Indias first publicall-women bank, which will lend money tobusinesses run by women, will mainly employwomen, and will support women employment. Another 2.5 billion rupees for groups like singlewomen and widows. Rs. 1,000 crore for women & youth fundsDuty-free limits raised to Rs 50000 for men and Rs1 lakh for women
TECHNOLOGY AND DEFENCE SECTOR: "Rs 6275 crore to Ministry of Technology, Rs 5216crore to Department of Space, Rs 5280 crore toDepartment of Energy. These amounts aresubstantial increases." Rs. 2 trillion for defence sector
AGRICULTURAL PRODUCTION: Rs 7 lakh crore target fixed for agri credit for 2013—14 compare to 5.75lakhs crore in previous year. Eastern Indian states to get Rs 1,000 crore allocation for improvingagricultural production. Rs 500 crore allocated for programme on crop diversification Foodgrain production in 2012—13 will be over 250 million tons Rs 80,194 crore allocation for Ministry of Rural Development in 2013—14. Rs 27,049 crore allocation to the Agriculture Ministry in 2013—14 Rs 14,873 crore for urban transportation in 2013—14.
MEDICAL EDUCATION: Rs 4,727 crore to be allocated for medical educationand research. Medical colleges in six more AIIMS—like institutions tostart functioning this year; Rs 1650 crore allocated forthe purpose. Rs 37,330 crore allocated for Ministry of Health & FamilyWelfare. Rs 13215 crore for mid-day meal programme: Rs 1069 crore given for development ofAyurveda, Siddha, Unani (Natural medicine) andhomeopathy
TRIBAL PLAN AND ENERGYRESOURCES: Rs 41,561 crore for SC plan and Rs 24,598 crore fortribal plan. Generation based incentives to wind energy projectsreintroduced, Rs 800 crore provided for the purpose toMinistry of New & Renewable Energy On oil and gas exploration policy, the Budget proposesto move from the present profit sharing mechanism torevenue sharing. Natural gas pricing policy will bereviewed.
POWER & WATER TRANSPORTSECTOR: Govt to construct power transmission system fromSrinagar to Ladakh at the cost of Rs 1,840crore, Rs226 crore provided for two new ports in WestBengal and Andhra Pradesh
BANK SECTORS:Government will provide Rs 14000-crore capitalinfusion in state-run (public-sector) banks in 2013/14 .Rs. 14,000 crore will be provided to public sector banksfor capital infusion in 2013-14.First home loan from a bank or housing financecorporation upto Rs. 25 lakh entitled to additionaldeduction of interest upto Rs. 1 lakh.All public-sector banks have assured the FinanceMinister that they will all have ATMs in their branchareas by 2014