The Union Budget 2013-14 was presented by Finance Minister P. Chidambaram on February 28, 2013. Key points included a fiscal deficit target of 4.8% of GDP for 2014, a current account deficit of 3.9% of GDP, and allocation of Rs. 65,867 crore to education. No changes were made to income tax slabs but a 10% surcharge will be imposed on income over Rs. 1 crore. SUVs and imported cars will be costlier with excise duty increased to 30% while remaining constant at 12% for other cars. The budget impacted the stock market with the Sensex falling 291 points.

2. India’s Finance Minister P. Chidambaram
presented the Union Budget 2013-14 in
Parliament on February 28, 2013.

3. Introduction
• Budget is an annual financial statement of
constitution of India. Budget has to be passed
by the Lok Sabha before it can come into
effect on April 01.
• The Budget is the most extensive account of
the Government’s finances, in which revenues
from all sources and expenses of all activities
undertaken are aggregated.

4. Macroeconomic View
GDP of India is 1.85 trillion
Fiscal Deficit is 5.2% of GDP in 2013 and its expected to be
reduced to 4.8% of GDP in 2014.
Current Account Deficit (CAD): 3.9% of GDP.
It is the amount by which expenses exceed
income or costs outstrip revenues. Deficit
essentially refers to the difference between cash
inflows and outflows. It is generally prefixed by
another term to refer to a specific situation –
trade deficit or budget deficit, fiscal deficit.

5. Cont..

6. A tax credit of
2000 to every No revision in
person with Income Tax
total income slabs.
upto 5 lakhs.
Rs 1 lakh additional
exemption for upto
Surcharge of 10% Rs 25 lakh home
would be imposed loans.
on those earning
over Rs 1 crore in a
year, for 2013-14.

7. Rs. 37,330 crore 4,727 crore for
Health allocated to the medical
Ministry of Health education, training
& Family Welfare. and research.
1,650 crore allocated for
six AIIMS-like institutions
150 crore
provided for
National
Programme for
the Health
Care of Elderly

8. Education
Total allocation
Rs 65,867 crore

9. SSA gets Rs 27,258 crore
Ssa GETS
*Image via Bing
Mid-day meal programme gets Rs 13,215 crore

10. Defence
Total Allocation:
2,03,672 crore

11. Agriculture
Average annual growth rate of
agriculture and allied sector
was 3.6%
27,049 crore allocated to Ministry of
Agriculture, an increase of 22
percent over the Revenue Expected
of current year.
Target of
Agricultural agricultural
research credit kept
provided at 7 lakh
3,415 crore. crore.

12. An ambitious IT driven project to modernise
the postal network at a cost of Rs. 4,909
crore. Post offices to become part of the core
banking solution and offer real time banking
services.

13. For Youth
Rs 1,000 crore for skill development of 10 lakh youth to enhance their
employability

14. SUVs, imported cars to be costlier
Excise duty increased on these vehicles from 27 to 30
percent
Excise duty constant for all other cars at 12 per cent

15. Budget Impact on Sensex
Bombay Stock
Exchange Sensex
fell by 291 points
to a 3-month low
post budget
*Image via Bing

17. Three promises
to woman, youth and poor.
• We pledge to do everything possible to empower
our girl children and women to keep them safe and
secure. A fund - “Nirbhaya Fund” - to be setup with
Government contribution of ` 1,000 crore.
• National Skill Development Corporation to set the
curriculum and standards for training in different
skills. 1000 crore set apart for this scheme.
• To the poor of India direct benefit transfer scheme
will be rolled out throughout the country during the
term of the UPA Government with the motive
“Äapka paisa aapke haath”.???

18. 12th five year plan focus is on
By Alok 