2. MEANING:
An estimate
of costs, revenues, and resources over a
specified period, reflecting a reading
of future financial conditions and goals.
In simple words it is ‘An estimate of income
and expenditure for a set period of time’.
3. AGRICULTURE
Rs.500crore allocated for promoting crop
diversification.
No service tax on agricultural testing
procedures
Rs.200crore allocated for promoting nutrient-
rich crops
Rs.9954crore allocated for Rashtriya Krishi
Vikas in Financial Year 14
To allocate Rs.27,049crore for Agriculture
Ministry
4. CONTD..;
No change in customs duty on non-agricultural
products
Bringing green revolution to eastern India a
remarkable success. 1,000crore allocated in
2013-2014.
5. EDUCATION
Finance Minister said ‘Education for all’ is a
priority of the government.
Finance Minister allocated 65867crore in
2013-2014
Education Cess to continue at 3 per cent
Rs.17,700crore allocated for Integrated Child
Development Scheme
6. CONTD..,
1000crore for skill development of 10 lakh
youth to enhance their employability.
SARVA SHIKSHA ABHIYAN- Education for all-
Mid day meals programme gets
Rs.13215crore.
Thousands of scholarships to be given to
SC/ST students, girls
4,727crore for medical education, training and
research.
1,650crore allocated for six AIIMS-like
institutions.
7. HEALTH
In budget speech, Finance Minister said .’I
propose to allocate rs.37,330crore to the
Ministry of health and Family welfare.
The new national health mission that combines
the rural mission and the proposed urban
mission will get 21239crore.
8. CONTD..,
The department of AYUSH a total of 1259crore
and the department of health research
Rs.1008crore.
The department of health and family welfare
got he majority share of 33278crore.
9. PHARMACEUTICAL
No major changes in budget 2013-14
Investment allowance of plant and machinery
is a welcome step and is expected to increase
investment in new projects
While simultaneously providing tax benefit to
industry.
10. CONTD..,
The increase in surcharge rates on both
income tax as well as dividend distribution tax
shall increase the tax outgo.
11. TEXTILE
The government has ultimately agreed to
remove the excise duty on readymade
garments which has been imposed two years
back.
This removal of excise duty which helps in
increasing exports on value added textile
chain.
Rs.1000crore has been allocated to all skill
development and there is a hope for allocation
of readymade garments sector.
12. CONTD..,
The excise duty of machineries for
manufacturing the leather and footwear has
lowered down to 7.5 to 5percent.
13. FINANCE
Bombay stock exchange sensex fell by 291
points to a 3month low post budget.
For women- started women bank and Nirbhaya
Fund, named after delhi gangrape victim to
empower women.
No revision in income tax slabs 10% is the
surcharge imposed to those earnings
Rs.1crore in a year.
