Presentation on Interm budget:- Lavit Khandelwal


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Presentation on Interm budget:- Lavit Khandelwal

  1. 1. Presented by :- Lavit khandelwal Career Point UniversityKota (Rajasthan) 6/25/20141
  2. 2. Union Budget :- According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. 6/25/20142
  3. 3. 6/25/20143
  4. 4. Comparative study of FY 2012-15 0 5000 10000 15000 20000 25000 30000 2012-13 Actual2013-14 Budgeted Budget2013-14 Revised2014-15 Estimated Budget Total Reciepts Non Plan Expenditure Total Reciepts 19158.23 24940.31 26589.02 29825.16 Non Plan Expenditure 13751.16 16619.46 17214.11 18676.55 Plane Expenditure 5511.1 8710.38 9784.62 11677.23 2014-15 Estimated 2012-13 Actual 2013-14 Budgeted 2013-14 Revised 6/25/20144
  5. 5. Highlights Of 2015......  Food subsidy will be Rs 1,15,000 crore for implementation of National Food Security Act.  Defence allocation increased by 10 per cent to Rs 2.24 lakh crore.  Rs 2,46,397 crore allocated for food, fertilizer and fuel subsidy.  Budgetary support to railways increased from Rs 26,000 crore to Rs 29,000 crore 2014-15.  Plan expenditure will be Rs 5,55,322 crore in 2014-15. 6/25/20145
  6. 6.  Rs 3,370 crore to transferred to 2.1 crore LPG users.  Rs 1,000 crore grant for Nirbhaya Fund.  4 ultra mega solar power projects in 2014-15.  Expenditure on education has risen from Rs 10,145 crore 10 years ago to Rs 79,251 crore this year.  3 more industrial corridors — Chennai, Bangalore, Bangalore-Mumbai, Amritsar-Kolkata — under various stages of implementation Highlights Of 2015...... 6/25/20146
  7. 7.  296 projects worth Rs 6,60,000 crore cleared by Cabinet Committee on Investment by end January 2014.  Agriculture credit will cross $45 billion against $41 billion in 2012-13.  Rs 6000 crore to rural housing fund, Rs 2000 crore for urban housing fund.  Rs 3711 crore for minority affairs; housing and urban poverty alleviation gets Rs 6000 crore.  Rs 6000 crore to rural housing fund, Rs 2000 crore for urban housing fund. Highlights Of 2015...... 6/25/20147
  8. 8.  Excise duty on SUVs to be increased to 30 per cent from 27 per cent, SUVs registered as taxis exempted.  18% rise in excise duty on Cigarattes, cigars and cheerots.  Service tax on all A/C restaurants.  Royalty tax hiked from 10% to 25%.  Rs. 1,000 crore each for women, youth funds.  Rs. 1,000 crore for Nirbhaya fund.  Rs. 2 trillion for defence sector.  Rs 27,049 crore allocation to the Agriculture Ministry in 2013—14.  Food grain production in 2012—13 will be over 250 million tons. Highlights Of 2014...... 6/25/20148
  9. 9.  Rs 15,260 crore to be allocated to Ministry of Drinking Water and Sanitation.  Rs 80,194 crore allocation for Ministry of Rural Development.  Rs 13215 crore for mid-day meal programme.  Rs 17,700 crore to be allocated for Integrated Child Development Scheme.  Rs 37,330 crore allocated for Ministry of Health & Family Welfare. Highlights Of 2014...... 6/25/20149
  10. 10. 6/25/201410
  11. 11. 6/25/201411 SCHEME ALLOCATION AMOUNT 1 Panchayat Empowerment & Accountability Incentive Scheme 40.00 2 Management Cell 20.00 3 Contribution to International Organisations 0.10 4 External Assistance under Projects Assisted by UN Agencies 4.90 5 Panchayat Mahila Evam Yuva Shakti Abhiyan 1.75 6 Media & Publicity 17.00 7 Rural Business Hubs 0.25 8 Action Research 3.00 9 Resource support to State 8.00 10 Rashtriya Gram Swaraj Yojana a. Training & Capacity Building 75.00 b. Infrastructure Development 40.00 11. e-Panchayats 40.00 12. Rajiv Gandhi Panchayat Sashaktikaran Abhiyan (RGPSA) 50.00 13. Backward Regions Grant Fund (BRGF) 5050.00 TOTAL 5350.00
  12. 12. Industry/N.G.O’s/Household Expectations:- 6/25/201412  Zilla panchayat president K Koragappa Naik and standing committee chairperson Asha Thimmappa Gowda expressed concern over PDOs carrying official laptops to homes and to other gram panchayats when they are transferred. "Is not laptop an asset of the gram panchayat? PDOs should not be allowed to take laptops home and use it for their personal work at any cost. Hence, all laptops should be kept at the gram panchayat offices ony," Naik said. The discussion on laptop went on and finally the issue was solved by resolving that laptops should be provided to all gram panchayats in the district. At present, 126 out of 203 gram panchayats have laptops. This action will directly affect the market of laptops manufacturer companies.  The village Gohran in district Kaithal has emerged as 'Madhu Gram' as 110 unemployed youth of this village are relying solely on Bee Keeping for their livelihood. T he total honey production of the entire village accounts to about 350 tone and total income generated from honey is 2.61 crore with honey sold at the rate of Rs. 75 per Kilo gram during last year. The average net income per family has reached to Rs. 2.5 lakh per annum per family.  Indira Awas Yojana(IAY): Under the program houses a cost of Rs.20,000/- are constructed for the families having no shelter and living below poverty line. W.e.f. 01-04-1999, one more component i.e. upgradation of unserviceable houses has been introduced. Rs.10,000/- will be given for upgradation which will include smokeless chulha and a toilet. 20% of the total allocation under the program will be spent on this component. A house will include dwelling unit along with kitchen, smokeless chulha and a toilet.
  13. 13. Actual allocation and policy measures listed out in the budget. 6/25/201413  Panchayati Raj  The Rajiv Gandhi Panchayat Sashaktikaran Abhiyan (RGPSA) was started in the current year with a modest allocation of `50 crore. Keeping in view the importance of building capacity in panchayati raj institutions, I had allocated `455 crore to the Ministry of Panchayati Raj in 2013- 14. I propose to provide an additional `200 crore . 200 crore have been provided under the scheme. Action completed
  14. 14. 6/25/201414  PRADHAN MANTRI GRAM SADAK YOJANA (PMGSY) Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched on 25th December 2000 as a fully funded Centrally Sponsored Scheme to provide all weather road connectivity in rural areas of the country. The programme envisages connecting all habitations with a population of 500 persons and above in the plain areas and 250 persons and above in hill States, the tribal and the desert areas. This would involve construction of 1,46,185 Kms of rural roads. Bharat Nirman envisages upgradation/renewal of 1,94,130 Kms of existing rural roads. This comprises 60% upgradation from Government of India and 40% Actual allocation and policy measures listed out in the budget.
  15. 15. 6/25/201415  The Backward Regions Grant Fund (BRGF) is a vital source of gap funding. I propose to allocate `11,500 crore in 2013-14 as well as another sum of `1,000 crore for LWE affected districts. BRGF will include a State component for Bihar, the Bundelkand region, West Bengal, the KBK districts of Odisha and the 82 districts under the Integrated Action Plan. The present criteria for determining backwardness are based on terrain, density of population and length of international borders. It may be more relevant to use a measure like the distance of the State from the national average under criteria such as per capita income, literacy and other human development indicators. I propose to evolve new criteria and reflect them in future planning and devolution of funds. Work in progress A committee set up to evolve a composite development index of States and to recommend criteria has submitted its report. The recommendations are being examined by Planning Commission. Actual allocation and policy measures listed out in the budget.
  16. 16. Future projections of main budget that outcomes from FY 2014-15  i. Fiscal Consolidation: A target of fiscal deficit of 3 percent of GDP must be achieved by 2016-17 and must always be kept below that level.  ii. Price Stability and Growth: In a developing economy where the aim is high growth, a moderate level of inflation will have to be accepted. RBI must strike a balance between price stability and growth while formulating monetary policy.  iii. Financial Sector Reforms: The recommendations of the Financial Sector Legislative Reforms Commission must be implemented immediately as they do not require any change in legislation. Also, a timetable must be drawn for other recommendations that require legislation.  iv. Infrastructure: The country must rebuild its infrastructure and add a huge quantity of new infrastructure. Every proven model must be adopted but the PPP model must be more widely used. New financing structures must be created for long term funds and pooling of investments.  v.Manufacturing: The Government must focus on manufacturing and especially on manufacturing for export. The Minister proposed that all taxes, Central and State, that go into an exported product should be waived or rebated. He also proposed that there should be a minimum tariff protection so that there is an incentive to manufacture goods in India rather than import them into India.
  17. 17.  vi .Subsidies: Given the limited resources, and the many claims on the resources, the Government must choose the subsidies that are absolutely necessary and give them only to the absolutely deserving.  Vii.Urbanization: The country’s cities will become ungovernable, and perhaps unliveable, if attention is not paid to the decay in these cities. Cities have wealth and also create wealth. But that wealth should be tapped for resources to rebuild the cities with a new model of governance.  Viii. Skill Development: Skill development must rank alongside secondary education, university education, total sanitation and universal health care in the priorities of the Government.  Xi.Sharing responsibility between States and Centre: States have the fiscal space to bear a reasonable proportion of the financial costs of implementing flagship programmers and must willingly do so, so that the Central Government can allocate more resources for subjects such as defense, railways national highways and telecommunications that are its exclusive responsibility. Finance Minister Shri P Chidambaram said that in the next three decades India will become the third largest economy behind USA and China.
  18. 18. Recommendation 6/25/201418
  19. 19. 6/25/201419