Union budget 2011


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  • improving our institutions, public delivery and governance practices, remain relevant
  • The effective revenue deficit, therefore, drops to 2.3% of GDP against 3.4% of GDP
  • Union budget 2011

    1. 1. Union Budget 2011-2012 By – Anuj Singh
    2. 2. Union Budget….. <ul><li>Union Budget is known as the Annual Financial Statement for a country </li></ul><ul><li>presented every year on the last working day of February by the </li></ul><ul><li>Finance Minister of India in Parliament </li></ul><ul><li>It has to be passed by the house and come into effect on 1 April of the year </li></ul><ul><li>Time of Budget Announcement….. </li></ul><ul><li>Until 2000 budget was announced at 5 pm on the last working day of February ,and it was inherited from Colonial Era (British Parliament) </li></ul><ul><li>Changed in 2001 by Mr. Yashwant Sinha as announced at 11 am </li></ul>
    3. 3. Focus of Budget 2011….. <ul><li>India to grow 9% in 2011-12 against 8.6% . </li></ul><ul><li>Fiscal Deficit down to 4.6% from 5.1% . </li></ul><ul><li>Revenue deficit to fall 1.8% </li></ul><ul><li>Dropdown Inflation rate as food inflation in terms of percentage has come down from 20.2 to 9.3 </li></ul><ul><li>Average inflation and Current account deficit are expected to be lower ,smaller and better managed with stable capita income. </li></ul><ul><li>Scaled up the flow of resources to rural area to give more thrust to development which is put an impact on new dynamism of rural economy. </li></ul><ul><li>Focus on improving institutions ,public delivery and governance practices. </li></ul>
    4. 4. Features of Budget….. <ul><li>Small decline in tax liability for men and no change in tax liability for women </li></ul><ul><li>Hospital, medical bills to high 5% </li></ul><ul><li>Grocery bill may go up by 4-5% </li></ul><ul><li>Raise credit flow to the farmers from 3,75,000 cr. to 4,75,000 cr. </li></ul><ul><li>For infrastructure and industry an allocation of over 2,14,000 cr. is being made . </li></ul>
    5. 5. Features of Budget….. <ul><li>For social sector a proposed allocation of 1,60,887 cr. </li></ul><ul><li>First time, specific allocations are being earmarked towards Scheduled Castes Sub-plan and Tribal Sub-plan (allocation of 244 cr.) . </li></ul><ul><li>For education an allocation of 52,057 cr. ,which is an increase of 24 % over the current year. </li></ul><ul><li>The fund allocated in Health sector 26,760 cr. </li></ul>
    6. 6. Budget Estimates 2011-12 <ul><li>The Gross Tax Receipts are estimated at Rs 9,32,440 crore. </li></ul><ul><li>The total expenditure proposed is Rs 12,57,729 cr. . </li></ul><ul><li>The total plan and non-plan transfers of Rs 2,01,733 cr to States and UT Governments. </li></ul><ul><li>The &quot;effective revenue deficit&quot; is drop down to 2.3% of against 3.4% of GDP and expected to drop down at 1.8 % in 2011-12. </li></ul>
    7. 7. Overview of the Indian Economy <ul><li>GDP estimated to have grown at 8.6 % in real terms and </li></ul><ul><li>expected to grow at 9 % with an outside band of (+/- )0.25% </li></ul><ul><li>Exports have grown by 29.4 % </li></ul><ul><li>Imports have recorded at a growth of 17.6 % . </li></ul><ul><li>In 2010-11 agriculture is estimated to have grown at 5.4 per cent, industry at 8.1 per cent and services at 9.6 per cent. </li></ul>
    8. 8. Sustaining Growth….. <ul><li>Fiscal Consolidation </li></ul><ul><li>Tax Reforms </li></ul><ul><li>Expenditure Reforms </li></ul><ul><li>Subsidies </li></ul>
    9. 9. Investment Environment <ul><li>Foreign Direct Investment </li></ul><ul><li>Foreign Institutional Investors </li></ul><ul><li>Financial Sector legislative Initiatives </li></ul><ul><li>Micro Finance Institutions </li></ul><ul><li>Rural Infrastructure Development Fund </li></ul><ul><li>Micro, Small and Medium Enterprises </li></ul>
    10. 10. <ul><li>Infrastructure and Industry </li></ul><ul><ul><li>Exports </li></ul></ul><ul><ul><li>Black Money </li></ul></ul><ul><li>Environment and Climate Change </li></ul><ul><li>Agriculture </li></ul><ul><li>Education </li></ul><ul><li>Health </li></ul>
    11. 11. TAX PROPOSALS <ul><li>Direct Taxes </li></ul><ul><li>Indirect Taxes </li></ul><ul><li>Agriculture & Related Sectors </li></ul><ul><li>Manufacturing Sector </li></ul><ul><li>Environment </li></ul><ul><li>Infrastructure </li></ul><ul><li>Service Tax </li></ul>