Budget

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Budget

  1. 1. Simpler SEBI rules:Securities and Exchange Board of India to simplifyprocedures for foreign portfolio investorsTwo new ports to be set up in West Bengal and Andhra Pradesh to ad 100million tonnes handling capacityGas handling terminal at Dabhol in Maharashtra to be fully operationalduring 2013-14State governments urged to sign restructuring plans with electricity discomsTax-free infrastructure bonds of Rs.50,000 crore to be issuedTextile ministry allocated Rs.50 crore for establishing apparel parksHandloom sector allocated Rs.96 crore to benefit 150,000 weaversInfrastructure debt funds to be encouragedRegulator to be appointed for road projects; 3,000 km of road projects to beawarded in first six months of 2013-14Incentive allowance of 15 percent over and above permitted depreciation tothose investing over Rs.100 crore in infrastructure projectsRajiv Gandhi Equity Scheme to be liberalisedSeven new cities identified along Delhi-Mumbai Industrial CorridorPreliminary work begun on Bangalore-Mumbai Industrial corridorFoodgrain production during 2013-13 estimated at 250 million tonnesHousehold sector must be incentivised to save in financial instruments ratherthan gold. Person taking a home loan for his first home during the period2013-14 will be entitled to an additional deduction of Rs. 1 lakh, announcesMr ChidambaramRe-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs.5,000 crore for Ministry of Small and Medium EnterprisesRs. 27,049 crore allocation to the Agriculture Ministry in 2013-14Rs. 7 lakh crore target fixed for agriculture credit for 2013-14 compared toRs. 5.75 lakh crore in the current year.Eastern Indian states to get Rs. 1,000 crore allocation for improvingagricultural productionInfrastructure Development Funds will be encouragedFunds to raise resources for the developmentGovt committed to food security bill. 10,000 crores set apart for expenditurelikely under the actRs. 37,330 crore allocated for Ministry of Health & Family WelfareRs. 110 crore to be allocated to the department of disability affairsRs. 3511 crore allocated to Minority Affairs Ministry which is 60 per cent ofthe revised estimatesAdditional sum of Rs. 200 crore to Women and Child WelfareMinistry to address issues of vulnerable women
  2. 2. Rs. 37,330 crore allocated for Ministry of Health & Family WelfareFaced with huge fiscal deficit, I have no choice but to rationalise expenditureDevelopment must be sustainable - economically and ecologicallyCannot spurn foreign investments, that is an imperativeGreat worry is the current account deficit (Read)Without growth, there will be neither development nor inclusivenessThe job of a finance minister is to create the economic space and findresources to achieve itOnly China and Indonesia growing faster than IndiaBy 2013 only China will grow faster than IndiaI seek support as we navigate the Indian economy through crisis that hasenveloped t

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