The document summarizes the key features of the Indian budget for 2011-2012. It identifies opportunities like strong economic growth and progress on institutional reforms. Challenges include inflation, implementation gaps in public programs, and corruption. The economy is estimated to have grown 8.6% in 2010-2011. Key areas discussed include sustaining growth through fiscal consolidation, tax and expenditure reforms, subsidies, investment in infrastructure, exports, curbing black money, and strengthening social inclusion through education, health, and skill development initiatives.
The document discusses various aspects of budgets in India. It defines a budget as an estimate of income and expenditure for a set period of time. It notes that the Union Budget of India is presented annually by the Finance Minister, as required by the constitution. The document then provides examples of different types of budgets and discusses some key aspects and benchmarks of Indian budgets throughout history. It also summarizes some new initiatives introduced in recent Indian budgets and expected versus actual outcomes of the 2014 budget related to banking and non-banking financial companies.
The document outlines the government's budget proposals across 9 pillars including agriculture, rural development, social sector, education, skills and job creation, infrastructure, financial sector reforms, governance, fiscal discipline, and tax reforms. Key highlights include doubling farmers' income, rural employment, health coverage for all, increasing education quality, skill development programs, infrastructure investment, financial stability, ease of doing business, prudent fiscal management, and reducing the tax compliance burden. The document then provides more details on initiatives and allocations for agriculture, rural development, social programs, education, and skill and job creation.
PM-DevINE: New scheme Prime Minister’s Development Initiative for North-East Region (PM-DevINE) launched to fund infrastructure and social development projects in the North-East.
Vibrant Villages Programme: Vibrant Villages Programme for development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.
Sunrise Opportunities: Government contribution to be provided for R&D in Sunrise Opportunities like Artificial Intelligence, Geospatial Systems and Drones, Semiconductor and its eco-system, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems.
The document provides expectations from various industries for the upcoming 2022-23 Union Budget of India. It summarizes the results of a survey of 330 industry experts and analysts conducted by CareEdge to forecast what measures the Finance Minister could announce. Key expectations included higher spending on infrastructure, employment generation, healthcare, agriculture, and logistics infrastructure. Industries are expecting support through new welfare programs, tax concessions, higher allocations to existing schemes, and measures to boost sectors like manufacturing, exports, and disinvestment.
A budget is a quantitative financial plan that expresses strategic and operational plans in measurable monetary terms for an upcoming accounting period. Budgets help organizations plan and control resources, communicate plans to managers, motivate managers to achieve goals, evaluate manager performance, and provide accountability. The presented document summarizes key aspects of the Union Budget of India for 2014-2015, including allocations and plans for sectors like agriculture, technology, subsidies, government spending, financial services, and infrastructure development.
The document provides an overview and analysis of the macroeconomic backdrop for India's 2021-2022 Union Budget. It discusses factors like rising global inflation, interest rate hikes by the Federal Reserve, and challenges facing the Indian economy like high unemployment, weak rural demand, and declining GDP growth. The budget aims to balance fiscal prudence with populism and growth initiatives. It allocates funds toward infrastructure, manufacturing, and startups to boost the economy but faces constraints around maintaining a high fiscal deficit. The budget composition is shifting toward higher capital expenditures that have a larger multiplier effect on growth.
This document is the Budget of India for 2009-2010. It outlines the key economic challenges facing India and summarizes the state of the economy. It then details several short-term stimulus measures to boost infrastructure, agriculture, and exports. These include increased allocations for highways, railways, urban development and power. It also outlines measures to increase credit to farmers and small businesses to promote growth.
This document provides an overview and summary of the Indian budget process. It discusses the history of budgets in India dating back to 1860. Key points include that the annual budget is presented by the Finance Minister on the last working day of February, detailing estimated receipts, expenditures, and funds to be collected via taxes and borrowings. The budget formulation process involves consultations with various ministries, states, and stakeholders. Highlights of the 2015 budget include expenditures, GDP projections, sectors like agriculture and education, and tax changes. Challenges faced include agricultural stress, infrastructure investment needs, and fiscal targets. Plans to address challenges include more public investment, manufacturing support, and fiscal discipline.
The document discusses various aspects of budgets in India. It defines a budget as an estimate of income and expenditure for a set period of time. It notes that the Union Budget of India is presented annually by the Finance Minister, as required by the constitution. The document then provides examples of different types of budgets and discusses some key aspects and benchmarks of Indian budgets throughout history. It also summarizes some new initiatives introduced in recent Indian budgets and expected versus actual outcomes of the 2014 budget related to banking and non-banking financial companies.
The document outlines the government's budget proposals across 9 pillars including agriculture, rural development, social sector, education, skills and job creation, infrastructure, financial sector reforms, governance, fiscal discipline, and tax reforms. Key highlights include doubling farmers' income, rural employment, health coverage for all, increasing education quality, skill development programs, infrastructure investment, financial stability, ease of doing business, prudent fiscal management, and reducing the tax compliance burden. The document then provides more details on initiatives and allocations for agriculture, rural development, social programs, education, and skill and job creation.
PM-DevINE: New scheme Prime Minister’s Development Initiative for North-East Region (PM-DevINE) launched to fund infrastructure and social development projects in the North-East.
Vibrant Villages Programme: Vibrant Villages Programme for development of Border villages with sparse population, limited connectivity and infrastructure on the northern border.
Sunrise Opportunities: Government contribution to be provided for R&D in Sunrise Opportunities like Artificial Intelligence, Geospatial Systems and Drones, Semiconductor and its eco-system, Space Economy, Genomics and Pharmaceuticals, Green Energy, and Clean Mobility Systems.
The document provides expectations from various industries for the upcoming 2022-23 Union Budget of India. It summarizes the results of a survey of 330 industry experts and analysts conducted by CareEdge to forecast what measures the Finance Minister could announce. Key expectations included higher spending on infrastructure, employment generation, healthcare, agriculture, and logistics infrastructure. Industries are expecting support through new welfare programs, tax concessions, higher allocations to existing schemes, and measures to boost sectors like manufacturing, exports, and disinvestment.
A budget is a quantitative financial plan that expresses strategic and operational plans in measurable monetary terms for an upcoming accounting period. Budgets help organizations plan and control resources, communicate plans to managers, motivate managers to achieve goals, evaluate manager performance, and provide accountability. The presented document summarizes key aspects of the Union Budget of India for 2014-2015, including allocations and plans for sectors like agriculture, technology, subsidies, government spending, financial services, and infrastructure development.
The document provides an overview and analysis of the macroeconomic backdrop for India's 2021-2022 Union Budget. It discusses factors like rising global inflation, interest rate hikes by the Federal Reserve, and challenges facing the Indian economy like high unemployment, weak rural demand, and declining GDP growth. The budget aims to balance fiscal prudence with populism and growth initiatives. It allocates funds toward infrastructure, manufacturing, and startups to boost the economy but faces constraints around maintaining a high fiscal deficit. The budget composition is shifting toward higher capital expenditures that have a larger multiplier effect on growth.
This document is the Budget of India for 2009-2010. It outlines the key economic challenges facing India and summarizes the state of the economy. It then details several short-term stimulus measures to boost infrastructure, agriculture, and exports. These include increased allocations for highways, railways, urban development and power. It also outlines measures to increase credit to farmers and small businesses to promote growth.
This document provides an overview and summary of the Indian budget process. It discusses the history of budgets in India dating back to 1860. Key points include that the annual budget is presented by the Finance Minister on the last working day of February, detailing estimated receipts, expenditures, and funds to be collected via taxes and borrowings. The budget formulation process involves consultations with various ministries, states, and stakeholders. Highlights of the 2015 budget include expenditures, GDP projections, sectors like agriculture and education, and tax changes. Challenges faced include agricultural stress, infrastructure investment needs, and fiscal targets. Plans to address challenges include more public investment, manufacturing support, and fiscal discipline.
This document provides a summary of the key highlights from the Indian Union Budget for 2020-21 presented by Finance Minister Nirmala Sitharaman. Some of the major points include increased spending on agriculture, infrastructure, health, and education. Tax exemptions have been introduced for affordable housing and startups. New income tax slabs with lower rates and removal of around 70 exemptions have been proposed. The budget aims to boost the economy through measures like expanding rural development programs, increasing foreign investment, and developing industries.
The document provides details on key announcements made in the Indian Union Budget for 2018-2019. It summarizes budget allocations and policy measures across several sectors including agriculture, rural development, health, education, infrastructure, digital initiatives, taxation policies, banking & financial sector reforms, employment generation, housing, and defense.
The document provides details about the Union Budget of India for 2009-2010. It summarizes the key aspects of the budget including total estimated expenditures of Rs. 10.2 trillion and estimated revenues of Rs. 6.1 trillion. It outlines spending increases for sectors like rural development, education, health, and infrastructure development. The economic survey highlights India's GDP growth target of 7.5% for 2009-2010 with challenges from the global slowdown and inflation addressed through fiscal policy changes.
Hi All,
Budget View from Team Aera
The government of India has put their ambitious and national building plan with today's Budget.
We find that the Budget is impressive.
Please find the attached first cut review of the Budget.
We welcome comments from you as well as ready to provide any more details /clarity on this finance bill 2022 ..
Thanks
Team Aera
#unionbudget2022 #unionbudget #indiamarket #growthpotential
The budget document summarizes the key announcements from the Indian Union Budget for 2022. It outlines increased spending on infrastructure development including 5G networks, affordable housing, and rural broadband access. It also provides allocation amounts to various government ministries and details fiscal deficit projections. Proposals for the agriculture, taxation, and digital currency sectors are also highlighted.
The much-awaited budget 2017-18 is out and along with it, a range of expectations for the future. The Union Budget 2017 is a very cheering and approving budget for real estate industry. It has proposed a number of positive procedures to build up the structure of the Indian real estate sector. The real estate sector contributes approximately 15% of India’s GDP. Without a hesitation, the Indian realty sector deserves attention for its health. It has direct impact India’s economic health.
Some key features of budget are—
• Taxation
• Infrastructure
• Loan refinance
• Pradhan Mantri Awas Yojana (PMAY)
• Increase in the size of housing
The Finance Minister presented India's first ever digital Union Budget on February 1, 2021. Some key points:
- Higher capital expenditure was announced for 2021-2022, with a focus on healthcare and infrastructure.
- The budget aimed to boost six pillars: health, infrastructure, inclusive development, human capital, innovation and minimum government.
- COVID-19 vaccination was allocated Rs. 35,000 crore and health spending increased 135% over the previous year.
- Fiscal deficit was targeted at 6.8% of GDP for 2021-2022, steadily decreasing to 4.5% by 2025-2026.
The Union Budget 2009-10 was presented by Finance Minister Pranab Mukherjee and aimed to lead the economy back to high GDP growth, promote inclusive development, and improve government delivery. Key measures included increased infrastructure spending, rural employment guarantees, and debt relief for farmers. The budget estimated revenues of Rs. 10.2 trillion and expenditures of Rs. 10.2 trillion, with a fiscal deficit of 6.8% of GDP.
The Union Budget for 2011-2012 made several changes to taxes and introduced reforms. Personal income tax exemptions were raised and income tax forms were simplified. Service tax and duties on some goods were increased, while customs duties on some machinery were decreased. The fiscal deficit was projected to decline gradually over the next few years. Spending on infrastructure, rural development, education, health and other social sectors was increased. Agriculture support measures like interest subsidies and credit targets were announced.
The document summarizes key points from the Indian Union Budget for 2012-13. It discusses estimates for GDP growth, fiscal deficits, revenues and expenditures. It outlines proposals to increase investment in infrastructure, manufacturing, rural development and social sectors. Taxation measures are also highlighted, including increases in excise duties and service tax rates, while personal income tax exemptions are raised. The budget aims to boost growth while reducing fiscal deficits.
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss.For real time update Visit our social media handle.Read First India NewsPaper in your morning replace.Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Get detailed insights on the Economic Survey and Sectoral impact of the Key Union Budget 2022- 23 announcements. Check the presentation to find out more.
The Key Highlights of Union Budget 2020-2021Udyen Jain
Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020-2021 of India on the 1st of February, 2020. Focusing on measures taken by the government towards reaching the target of a $5 trillion economy by the end of 2022.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for railways, roads, defense, and other infrastructure sectors along with plans for new projects.
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss.For real time update Visit our social media handle.Read First India NewsPaper in your morning replace.Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Union budget- Introduction, classification, procedure, current status of budget in India, military budget in India. Defence budget in India-its status, focus and forecasts of budgets
The document analyzes the Union Budget of India for 2009-2010. It discusses key aspects of the budget such as taxation changes, stimulus for the automotive and telecom sectors, agricultural initiatives, and allocations for infrastructure, education, and rural development. Experts provide views on the budget, praising measures to boost growth but noting weaknesses like low agricultural spending. In conclusion, the author commends efforts to balance growth and fiscal prudence, and sees the budget as prioritizing demand over supply-side reforms.
The Union Budget for 2012-2013 aims to promote domestic demand-led growth, private investment, and infrastructure development while addressing issues like inflation, fiscal deficit, and corruption. Key highlights include increasing direct tax exemption limits, implementing the Goods and Services Tax, using Aadhaar for welfare schemes, allocating more funds for agriculture, education, and skill development, and introducing measures to curb black money and improve governance. However, lower GDP growth, high subsidy spending, and a widening fiscal deficit pose challenges to achieving fiscal consolidation targets.
The document summarizes the key features of the Indian budget for 2011-2012. It outlines opportunities and challenges for the Indian economy, including strong GDP growth in 2010-2011 and inflation concerns. It discusses the government's plans to sustain growth through fiscal consolidation, tax reforms, expenditure reforms, and other policies. It also covers initiatives and allocations related to agriculture, infrastructure, industry, exports, social inclusion, education, health, and other sectors. The budget aims to transition India towards more transparent and result-oriented economic management.
The document compares the Indian budgets of 2010 and 2011. It summarizes the key economic challenges, growth rates, fiscal policies, tax reforms, infrastructure spending, allocations to sectors like health and education, and budget estimates for both years. The 2011 budget aimed to boost growth above 9% through inclusive development policies and reforms while addressing issues like inflation and implementation gaps. Infrastructure spending saw a large increase along with allocations to priority sectors.
The budget aims to boost growth while slowing the pace of fiscal deficit reduction. Key points include:
- GDP growth projected between 8-8.5% for 2015-2016
- Deficit target lowered to 3.9% of GDP
- Corporate tax to be reduced to 25% over 4 years
- Infrastructure investment to increase by 700 billion rupees
- Social programs expanded to promote health, education and employment.
This document provides a summary of the key highlights from the Indian Union Budget for 2020-21 presented by Finance Minister Nirmala Sitharaman. Some of the major points include increased spending on agriculture, infrastructure, health, and education. Tax exemptions have been introduced for affordable housing and startups. New income tax slabs with lower rates and removal of around 70 exemptions have been proposed. The budget aims to boost the economy through measures like expanding rural development programs, increasing foreign investment, and developing industries.
The document provides details on key announcements made in the Indian Union Budget for 2018-2019. It summarizes budget allocations and policy measures across several sectors including agriculture, rural development, health, education, infrastructure, digital initiatives, taxation policies, banking & financial sector reforms, employment generation, housing, and defense.
The document provides details about the Union Budget of India for 2009-2010. It summarizes the key aspects of the budget including total estimated expenditures of Rs. 10.2 trillion and estimated revenues of Rs. 6.1 trillion. It outlines spending increases for sectors like rural development, education, health, and infrastructure development. The economic survey highlights India's GDP growth target of 7.5% for 2009-2010 with challenges from the global slowdown and inflation addressed through fiscal policy changes.
Hi All,
Budget View from Team Aera
The government of India has put their ambitious and national building plan with today's Budget.
We find that the Budget is impressive.
Please find the attached first cut review of the Budget.
We welcome comments from you as well as ready to provide any more details /clarity on this finance bill 2022 ..
Thanks
Team Aera
#unionbudget2022 #unionbudget #indiamarket #growthpotential
The budget document summarizes the key announcements from the Indian Union Budget for 2022. It outlines increased spending on infrastructure development including 5G networks, affordable housing, and rural broadband access. It also provides allocation amounts to various government ministries and details fiscal deficit projections. Proposals for the agriculture, taxation, and digital currency sectors are also highlighted.
The much-awaited budget 2017-18 is out and along with it, a range of expectations for the future. The Union Budget 2017 is a very cheering and approving budget for real estate industry. It has proposed a number of positive procedures to build up the structure of the Indian real estate sector. The real estate sector contributes approximately 15% of India’s GDP. Without a hesitation, the Indian realty sector deserves attention for its health. It has direct impact India’s economic health.
Some key features of budget are—
• Taxation
• Infrastructure
• Loan refinance
• Pradhan Mantri Awas Yojana (PMAY)
• Increase in the size of housing
The Finance Minister presented India's first ever digital Union Budget on February 1, 2021. Some key points:
- Higher capital expenditure was announced for 2021-2022, with a focus on healthcare and infrastructure.
- The budget aimed to boost six pillars: health, infrastructure, inclusive development, human capital, innovation and minimum government.
- COVID-19 vaccination was allocated Rs. 35,000 crore and health spending increased 135% over the previous year.
- Fiscal deficit was targeted at 6.8% of GDP for 2021-2022, steadily decreasing to 4.5% by 2025-2026.
The Union Budget 2009-10 was presented by Finance Minister Pranab Mukherjee and aimed to lead the economy back to high GDP growth, promote inclusive development, and improve government delivery. Key measures included increased infrastructure spending, rural employment guarantees, and debt relief for farmers. The budget estimated revenues of Rs. 10.2 trillion and expenditures of Rs. 10.2 trillion, with a fiscal deficit of 6.8% of GDP.
The Union Budget for 2011-2012 made several changes to taxes and introduced reforms. Personal income tax exemptions were raised and income tax forms were simplified. Service tax and duties on some goods were increased, while customs duties on some machinery were decreased. The fiscal deficit was projected to decline gradually over the next few years. Spending on infrastructure, rural development, education, health and other social sectors was increased. Agriculture support measures like interest subsidies and credit targets were announced.
The document summarizes key points from the Indian Union Budget for 2012-13. It discusses estimates for GDP growth, fiscal deficits, revenues and expenditures. It outlines proposals to increase investment in infrastructure, manufacturing, rural development and social sectors. Taxation measures are also highlighted, including increases in excise duties and service tax rates, while personal income tax exemptions are raised. The budget aims to boost growth while reducing fiscal deficits.
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss.For real time update Visit our social media handle.Read First India NewsPaper in your morning replace.Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Get detailed insights on the Economic Survey and Sectoral impact of the Key Union Budget 2022- 23 announcements. Check the presentation to find out more.
The Key Highlights of Union Budget 2020-2021Udyen Jain
Finance Minister (FM) Nirmala Sitharaman has presented the Union Budget 2020-2021 of India on the 1st of February, 2020. Focusing on measures taken by the government towards reaching the target of a $5 trillion economy by the end of 2022.
The document discusses key aspects of the Indian Union Budget announced in 2017, including:
- Reduced income tax rates and a higher income tax exemption limit.
- Increased spending on rural development, healthcare, infrastructure, and other social programs targeting farmers, youth, and other groups.
- Measures to promote digital payments and increase transparency in political funding.
- Higher allocations for railways, roads, defense, and other infrastructure sectors along with plans for new projects.
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss.For real time update Visit our social media handle.Read First India NewsPaper in your morning replace.Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
Union budget- Introduction, classification, procedure, current status of budget in India, military budget in India. Defence budget in India-its status, focus and forecasts of budgets
The document analyzes the Union Budget of India for 2009-2010. It discusses key aspects of the budget such as taxation changes, stimulus for the automotive and telecom sectors, agricultural initiatives, and allocations for infrastructure, education, and rural development. Experts provide views on the budget, praising measures to boost growth but noting weaknesses like low agricultural spending. In conclusion, the author commends efforts to balance growth and fiscal prudence, and sees the budget as prioritizing demand over supply-side reforms.
The Union Budget for 2012-2013 aims to promote domestic demand-led growth, private investment, and infrastructure development while addressing issues like inflation, fiscal deficit, and corruption. Key highlights include increasing direct tax exemption limits, implementing the Goods and Services Tax, using Aadhaar for welfare schemes, allocating more funds for agriculture, education, and skill development, and introducing measures to curb black money and improve governance. However, lower GDP growth, high subsidy spending, and a widening fiscal deficit pose challenges to achieving fiscal consolidation targets.
The document summarizes the key features of the Indian budget for 2011-2012. It outlines opportunities and challenges for the Indian economy, including strong GDP growth in 2010-2011 and inflation concerns. It discusses the government's plans to sustain growth through fiscal consolidation, tax reforms, expenditure reforms, and other policies. It also covers initiatives and allocations related to agriculture, infrastructure, industry, exports, social inclusion, education, health, and other sectors. The budget aims to transition India towards more transparent and result-oriented economic management.
The document compares the Indian budgets of 2010 and 2011. It summarizes the key economic challenges, growth rates, fiscal policies, tax reforms, infrastructure spending, allocations to sectors like health and education, and budget estimates for both years. The 2011 budget aimed to boost growth above 9% through inclusive development policies and reforms while addressing issues like inflation and implementation gaps. Infrastructure spending saw a large increase along with allocations to priority sectors.
The budget aims to boost growth while slowing the pace of fiscal deficit reduction. Key points include:
- GDP growth projected between 8-8.5% for 2015-2016
- Deficit target lowered to 3.9% of GDP
- Corporate tax to be reduced to 25% over 4 years
- Infrastructure investment to increase by 700 billion rupees
- Social programs expanded to promote health, education and employment.
India's Finance Minister Arun Jaitley announced the budget for fiscal year 2015-2016, aiming to balance growth with fiscal discipline. Key points include:
- GDP growth projected between 8-8.5%
- Fiscal deficit targeted at 3.9% of GDP
- Corporate tax to be reduced from 30% to 25% over four years
- Infrastructure investment to increase by 700 billion rupees
- Agricultural incomes and rural employment to be strengthened
The document provides a summary of key highlights from the Indian Union Budget 2014-15 presented by Finance Minister Arun Jaitley. It outlines the current economic challenges of low growth and inflation. The budget aims to revive growth in manufacturing and infrastructure, improve tax-GDP ratio, address fiscal and current account deficits, and achieve the targets of 4.1% fiscal deficit in 2014-15 and 3% in 2016-17. It proposes measures across various sectors like agriculture, education, health, rural development, industry, infrastructure, etc. to boost investment and economic growth.
The budget focused on developing a 'New India' through boosts for agriculture, rural development, infrastructure, healthcare, employment and education. Key announcements included increasing MSP for crops to 1.5 times production cost, allocating Rs. 2000 crore for developing agricultural markets, and doubling allocation for food processing. The budget also proposed the world's largest government healthcare program covering over 10 crore poor families and allocating funds for rural housing and education infrastructure development. However, expectations of income tax cuts were mostly unmet with the exception of a standard deduction increase, and stock markets fell due to the announcement of a 10% tax on long-term capital gains from equities.
The document provides an overview of the Union Budget 2016-17 presented by the government of India. It discusses key highlights and priorities of the budget which include boosting economic growth, ensuring macroeconomic stability, continuing reforms, and focusing on vulnerable sections through new health and insurance schemes. The budget aims to boost infrastructure investment, agriculture and rural development, education and skills training, and make progress toward fiscal discipline and a pensioned society. It provides tax relief for small taxpayers and incentives for affordable housing, startups, and manufacturing.
The document summarizes key aspects of the 2014 Union Budget of India presented by Finance Minister Arun Jaitley on July 10, 2014. Some highlights included allocating 70.6 billion for smart cities development, 10 billion for irrigation, and establishing 5 new IITs, IIMs, and AIIMS. The budget focused on reviving growth, achieving 7-8% GDP growth, and targeting anti-poverty programs. It also outlined administrative initiatives like sorting out pending tax disputes and expanding the tax base. Funding was provided for initiatives related to rural development, women and child development, education, and sports.
The Union Budget 2017-18 aims to improve the quality of growth and life of citizens. Key priorities include farmers, rural development, skills development for youth, and welfare of the poor. Infrastructure development remains a focus. Fiscal deficit is targeted at 3.2% of GDP for 2017-18. Prudent fiscal management aims to achieve fiscal targets while increasing capital expenditures. The budget emphasizes use of digital technology and improving tax administration.
Ways2Capital is one of the leading research house across the globe. The company basically provides recommendations for stocks cash & F&O traded in NSE & BSE,commodities including bullions, metals and agro commodities traded in MCX & NCDEX.
The document summarizes the Indian government's approach to the 2012 budget. Key points include:
1) The Indian economy's growth slowed in 2011-12 due to global factors but remains one of the fastest growing.
2) The budget aims to improve the macroeconomic environment and strengthen domestic growth drivers through fiscal and monetary policy changes.
3) Reforms to subsidies, taxation, investment policies, and infrastructure development are outlined to support inclusive and sustainable growth goals.
The document summarizes the Indian government's approach to the fiscal year 2012 budget. Key points include:
1) The Indian economy's growth slowed in 2011-12 due to global factors but remains one of the fastest growing.
2) The budget aims to improve the macroeconomic environment and strengthen domestic growth drivers through fiscal and monetary policy changes.
3) Reforms to subsidies, taxation, investment policies, and infrastructure development are outlined to support inclusive and sustainable growth goals.
The document summarizes the Indian government's approach to the fiscal year 2012 budget. Key points include:
1) The Indian economy's growth slowed in 2011-12 due to global factors but remains one of the fastest growing.
2) The budget aims to improve the macroeconomic environment and strengthen domestic growth drivers through fiscal and monetary policy changes.
3) Reforms to subsidies, taxation, investment policies, and infrastructure development are outlined to support inclusive and sustainable growth goals.
The Union Budget for 2017-18 pledged relief for rural India, middle class taxpayers and small and medium-sized companies in the Union Budget 2017-18, saying the government would spend thousands of crores to double farmers' incomes, upgrade infrastructure and provide affordable housing. While unveiling the budget the Hon’ble Finance Minister emphasised that the budget is built on three pillars “Transform, Energise and Clean India”, that is, TEC India. This agenda of TEC India seeks to transform the quality of governance and quality of life of the citizens of India, energise various sections of society, especially the youth and the vulnerable sections of the society and enable them to unleash their true potential. The emphasis of TEC India is also to clean the country from the evils of corruption, black money, and non-transparent political funding. The main focus of the Budget has been to boost government expenditure in order to increase growth, and to muster employment generation.
The Finance Minister said the Indian economy was doing well despite global trends of slowing growth in other emerging economies. He also delivered a big relief to foreign portfolio investors by exempting them from indirect transfer provisions. The centre’s budget size has been pegged at Rs. 21.47 lakh crore, with an increase of 25.47 per cent in capital expenditure. As regards fiscal consolidation, the FM has targeted fiscal deficit of 3.2 per cent for 2017-18 as against earlier target of 3 per cent. For agriculture and rural sector, Mr Jaitley has increased the allocation by 24 per cent to Rs. 1.87 lakh crore for 2017-18. In the case of infrastructure, the planned public investment stood at massive Rs. 3.96 lakh crore.
We have developed an analysis of the budget, which includes opinion pieces from eminent economists and experts.
The document provides an overview of key announcements and proposals in the Union Budget of India for 2012-2013. It summarizes fiscal targets like maintaining the fiscal deficit at 5.1% of GDP and keeping subsidies below 2% of GDP. It outlines measures to boost infrastructure, agriculture, and other sectors. Major tax proposals include extending the service tax net, raising service tax and excise duty rates, and reiterating commitment to implementing a nationwide Goods and Services Tax. The budget aimed to balance growth and stability while addressing inflation concerns.
The key features of the Indian budget for 2011-2012 focused on opportunities for growth from economic reforms and rural development, challenges around inflation and implementation gaps, and an overview of the Indian economy growing at an estimated 8.6% in 2010-2011. The budget aimed to sustain growth through fiscal consolidation, tax and expenditure reforms, subsidies, privatization, and improving the investment environment through financial sector reforms and infrastructure development especially in agriculture, manufacturing, and exports. It also strengthened inclusion through social spending on food security, rural development, education, health, financial inclusion, and the unorganized sector while addressing issues like black money, forests, and environmental protection.
The key features of the Indian budget for 2011-2012 focused on opportunities for growth from economic reforms and rural development, challenges around inflation and implementation gaps, and an overview of the Indian economy growing at an estimated 8.6% in 2010-2011. The budget aimed to sustain growth through fiscal consolidation, tax and expenditure reforms, subsidies, privatization, and improving the investment environment through financial sector reforms and infrastructure development especially in agriculture, manufacturing, and exports. It also strengthened inclusion through social spending on food security, rural development, education, health, financial inclusion, and the unorganized sector while addressing issues like black money, forests, and environmental protection.
The key features of the Indian budget for 2011-2012 focused on opportunities for growth from economic reforms and rural development, challenges around inflation and implementation gaps, and an overview of the economy expected to grow at 9%. The budget aimed to sustain growth through fiscal consolidation, tax and expenditure reforms, subsidies, infrastructure development, and strengthening inclusion through social spending on education, health, and rural programs.
The key highlights of the document are:
1) The Indian economy has shown strong growth in 2010-2011 and is expected to grow at 9% in 2011-2012. However, inflation continues to be a challenge.
2) The budget aims to sustain growth through fiscal consolidation, tax reforms such as implementing GST, and expenditure reforms while improving investment environment and support for sectors like infrastructure, MSMEs, housing and rural development.
3) Measures include raising funds for subsidies, public sector disinvestment, developing rural infrastructure and support for priority sectors like minority communities.
This document provides an overview of the key points from the Union Budget of India for 2012. It discusses economic challenges faced and growth projections. It outlines sectoral allocations and policy changes for infrastructure, industry, housing, textiles, MSMEs, agriculture, health, and better governance. The implementation of fiscal responsibility laws and disinvestment targets are also mentioned. Direct and indirect tax proposals as well as amendments to fiscal deficit targets are summarized.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
Navigating Your Financial Future: Comprehensive Planning with Mike Baumannmikebaumannfinancial
Learn how financial planner Mike Baumann helps individuals and families articulate their financial aspirations and develop tailored plans. This presentation delves into budgeting, investment strategies, retirement planning, tax optimization, and the importance of ongoing plan adjustments.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
1. Key Features of Budget 2011-2012
OPPORTUNITIES
Swift and broad based growth in 2010-11 has put the economy back to its pre-crisis
growth trajectory. Fiscal consolidation has been impressive.
Significant progress in critical institutional reforms that would set the pace for double-
digit growth in the near future.
Dynamism in the rural economy due to scaled up flow of resources to the rural areas.
CHALLENGES
Structural concerns on inflation management to be addressed by improving supply
response of agriculture to the expanding domestic demand and through stronger fiscal
consolidation.
Implementation gaps, leakages from public programmes and the quality of outcomes pose
a serious challenge.
Impression of drift in governance and gap in public accountability is misplaced.
Corruption as a problem to be fought collectively. Government to improve the
regulatory standards and administrative practices.
Inputs from colleagues on both sides of House are important in the wider national
interest.
Budget 2011-12 to serve as a transition towards a more transparent and result
oriented economic management system in India.
OVERVIEW OF THE ECONOMY
Gross Domestic Product (GDP) estimated to have grown at 8.6 per cent in 2010-11 in real
terms. Economy has shown remarkable resilience.
Continued high food prices have been principal concern this year.
Consumers denied the benefit of seasonal fall in prices despite improved availability of
food items, revealing shortcomings in distribution and marketing systems.
Monetary policy measures taken expected to further moderate inflation in coming
months.
Exports have grown by 29.4 per cent, while imports have recorded a growth of 17.6 per
cent during April to January 2010-11 over the corresponding period last year. Indian
economy expected to grow at 9 per cent with an outside band of +/- 0.25 per cent in 2011-12.
Average inflation expected lower next year and current account deficit smaller.
SUSTAINING GROWTH
Fiscal consolidation
2. Fiscal consolidation targets at Centre and States have shown positive effect on macro
economic management of the economy.
Amendment to Centre‟s FRBM Act, 2003 laying down the fiscal road map for the next
five years to be introduced in the course of the year.
Proposal to introduce the Public Debt Management Agency of India Bill in the next
financial year.
Tax Reforms
Direct Taxes Code (DTC) to be finalised for enactment during 2011-12. DTC proposed to
be effective from April 1, 2012.
Areas of divergence with States on proposed Goods and Services Tax (GST) have been
narrowed. As a step towards roll out of GST, Constitution Amendment Bill proposed to be
introduced in this session of Parliament.
Significant progress in establishing GST Network (GSTN), which will serve as IT
infrastructure for introduction of GST.
Expenditure Reforms
A Committee already set up by Planning Commission to look into the extant
classification of public expenditure between plan, non-plan, revenue and capital.
Subsidies
Nutrient Based Subsidy (NBS) has improved the availability of fertiliser;
Government actively considering extension of the NBS regime to cover urea.
Government to move towards direct transfer of cash subsidy to people living
below poverty line in a phased manner for better delivery of kerosene, LPG and
fertilisers. Task force set up to work out the modalities for the proposed system.
People’s ownership of PSUs
Overwhelming response to public issues of Central Public Sector Undertakings
during current year.
Higher than anticipated non-tax revenue has led to re-schedulement of some
disinvestment issues planned for current year.
` 40,000 crore to be raised through disinvestment in 2011-12.
Government committed to retain at least 51 per cent ownership and management control
of the Central Public Sector Undertakings.
INVESTMENT ENVIRONMENT
Foreign Direct Investment
Discussions underway to further liberalise the FDI policy.
Foreign Institutional Investors
SEBI registered mutual funds permitted to accept subscription from foreign investors who
meet KYC requirements for equity schemes.
To enhance flow of funds to infrastructure sector, the FII limit for investment in
corporate bonds issued in infrastructure sector being raised.
Financial Sector Legislative Initiatives
To take the process of financial sector reforms further, various legislations proposed in
2011-12.
3. Amendments proposed to the Banking Regulation Act in the context of additional
banking licences to private sector players.
Public Sector Bank Capitalisation
` 6,000 crore to be provided during 2011-12 to enable public sector banks to maintain a
minimum of Tier I CRAR of 8 per cent.
Recapitalisation of Regional Rural Banks
` 500 crore to be provided to enable Regional Rural Banks to maintain a CRAR of at least
9 per cent as on March 31, 2012.
Micro Finance Institutions
“India Microfinance Equity Fund” of ` 100 crore to be created with SIDBI. Government
considering putting in place appropriate regulatory framework to protect the interest of small
borrowers.
“Women‟s SHG‟s Development Fund” to be created with a corpus of ` 500 crore.
Rural Infrastructure Development Fund
Corpus of RIDF XVII to be raised from ` 16,000 crore to ` 18,000 crore.
Micro Small and Medium Enterprises
` 5,000 crore to be provided to SIDBI for refinancing incremental lending by banks to
these enterprises.
` 3,000 crore to be provided to NABARD to provide support to handloom weaver co-
operative societies which have become financially unviable due to non-repayment of debt by
handloom weavers facing economic stress.
Public sector banks to achieve a target of 15 per cent as outstanding loans to
minority communities under priority sector lending at the earliest.
Housing Sector Finance
Existing scheme of interest subvention of 1 per cent on housing loan further liberalised.
Existing housing loan limit enhanced to ` 25 lakh for dwelling units under priority sector
lending.
Provision under Rural Housing Fund enhanced to ` 3,000 crore.
To enhance credit worthiness of economically weaker sections and LIG households, a
Mortgage Risk Guarantee Fund to be created under Rajiv Awas Yojana.
Central Electronic Registry to prevent frauds involving multiple lending on the same
immovable property to become operational by March 31, 2011.
Financial Sector Legislative Reforms Commission
Financial Sector Legislative Reforms Commission set up to rewrite and streamline the
financial sector laws, rules and regulations.
Companies Bill to be introduced in the Lok Sabha during current session.
AGRICULTURE
Removal of production and distribution bottlenecks for items like fruits and vegetables,
milk, meat, poultry and fish to be the focus of attention this year.
Allocation under Rashtriya Krishi Vikas Yojana (RKVY) increased from ` 6,755 crore to `
7,860 crore.
4. Bringing Green Revolution to Eastern Region
To improve rice based cropping system in this region, allocation of ` 400 crore has been
made.
Integrated Development of 60,000 pulses villages in rainfed areas
Allocation of ` 300 crore to promote 60,000 pulses villages in rainfed areas. Promotion of
Oil Palm
Allocation of ` 300 crore to bring 60,000 hectares under oil palm plantations.
Initiative to yield about 3 lakh Metric tonnes of palm oil annually in five years.
Initiative on Vegetable Clusters
Allocation of ` 300 crore for implementation of vegetable initiative to provide
quality vegetable at competitive prices.
Nutri-cereals
Allocation of ` 300 crore to promote higher production of Bajra, Jowar, Ragi and
other millets, which are highly nutritious and have several medicinal properties.
National Mission for Protein Supplement
Allocation of ` 300 crore to promote animal based protein production through
livestock development, dairy farming, piggery, goat rearing and fisheries.
Accelerated Fodder Development Programme
Allocation of ` 300 crore for Accelerated Fodder Development Programme to
benefit farmers in 25,000 villages.
National Mission for Sustainable Agriculture
Government to promote organic farming methods, combining modern technology
with traditional farming practices.
Agriculture Credit
Credit flow for farmers raised from ` 3,75,000 crore to ` 4,75,000 crore in 2011-12.
Interest subvention proposed to be enhanced from 2 per cent to 3 per cent for providing
short-term crop loans to farmers who repay their crop loan on time.
In view of enhanced target for flow of agriculture credit, capital base of NABARD
to be strengthened by ` 3,000 crore in phased manner.
` 10,000 crore to be contributed to NABARD‟s Short-term Rural Credit fund for 2011-12.
Mega Food Parks
Approval being given to set up 15 more Mega Food Parks during 2011-12.
Storage Capacity and Cold Chains
Augmentation of storage capacity through private entrepreneurs and warehousing
corporations has been fast tracked.
Capital investment in creation of modern storage capacity will be eligible for viability gap
funding of the Finance Ministry.
Agriculture Produce Marketing Act
5. In view of recent episode of inflation, need for State Governments to review and enforce
a reformed Agriculture Produce Marketing Act.
Infrastructure and Industry
Allocation of ` 2,14,000 crore for infrastructure in 2011-12. This is an increase of 23.3 per
cent over 2010-11. This also amounts to 48.5 per cent of total plan allocation.
Government to come up with a comprehensive policy for further developing PPP
projects.
IIFCL to achieve cummulative disbursement target of ` 20,000 crore by March 31, 2011
and ` 25,000 crore by March 31, 2012.
Under take out financing scheme, seven projects sanctioned with debt of ` 1,500 crore.
Another ` 5,000 crore will be sanctioned during 2011-12.
To boost infrastructure development, tax free bonds of ` 30,000 crore proposed to be
issued by Government undertakings during 2011-12.
National Manufacturing Policy
Share of manufacturing in GDP expected to grow from about 16 per cent to 25 per cent
over a period of 10 years. Government will come out with a manufacturing policy.
Two Committees set up for greater transparency and accountability in procurement
policy; and for allocation, pricing and utilisation of natural resources.
Issues relating to reconciliation of environmental concern from various departmental
activities including those related to infrastructure and mining to be considered by a Group of
Ministers.
National Mission for hybrid and electric vehicle to be launched.
Financial Assistance to be made available for metro projects in Delhi, Mumbai,
Bengaluru, Kolkata and Chennai.
Capital investment in fertiliser production proposed to be included as an infrastructure
sub-sector.
Exports
Of 23 suggestions made by Task Force on Transaction Cost, constituted by the
Department of Commerce, 21 suggestions already implemented. Action to be taken on the
remaining two suggestions. Transaction Cost of ` 2,100 crore will thus be mitigated.
Self assessment to be introduced in Customs to modernize the Customs administration.
Proposal to introduce scheme for refund of taxes paid on services used for export of
goods.
Mega Cluster Scheme to be extended for leather products. Seven mega leather clusters to
be set up during 2011-12.
Jodhpur to be included for the development of a handicraft mega cluster.
BLACK MONEY
Five fold strategy to be put into operation to deal with the problem of generation and
circulation of black money.
Membership of various international fora engaged in anti money laundering,
Financial integrity and Economic development, Exchange of information for tax purposes
and transparency, secured.
6. Various Tax Information Exchange Agreements (TIEA) and Double Taxation Avoidance
Agreements (DTAA) concluded. Foreign Tax Division of CBDT has been strengthened to
effectively handle increase in tax information exchange and transfer pricing issues.
Enforcement Directorate strengthened three fold to handle increased number of cases
registered under amended Money Laundering Legislation.
Finance Ministry has commissioned study on unaccounted income and wealth held within
and outside the country.
Comprehensive national policy to be announced in near future to strengthen controls over
prevention of trafficking on narcotic drugs.
STRENGTHENING INCLUSION
National Food Security Bill (NFSB) to be introduced in the Parliament during the course
of this year.
Allocation for social sector in 2011-12 (` 1,60,887 crore) increased by 17 per cent over
current year. It amounts to 36.4 per cent of total plan allocation.
Bharat Nirman
Allocation for Bharat Nirman programme proposed to be increased by ` 10,000 crore
from the current year to ` 58,000 crore in 2011-12.
Plan to provide Rural Broadband Connectivity to all 2,50,000 Panchayats in the country
in three years.
MGNREGA
In pursuance of last years budget announcement to provide a real wage of ` 100 per day,
the Government has decided to index the wage rates notified under the MGNREGA to the
Consumer Price Index for Agricultural Labour. The enhanced wage rates have been notified
by the Ministry of Rural Development on January 14, 2011.
From 1st April, 2011, remuneration of Anganwadi workers increased from ` 1,500 per
month to ` 3,000 per month and for Anganwadi helpers from ` 750 per month to ` 1,500 per
month.
Scheduled Castes and Tribal Sub-plan
Specific allocation earmarked towards Schedule Castes Sub-plan and Tribal Sub-plan in
the Budget.
Allocation for primitive Tribal groups increased from ` 185 crore in 2010-11 to
` 244 crore in 2011-12.
Education
Allocation for education increased by 24 per cent over current year.
Sarva Shiksha Abhiyan
` 21,000 crore allocated, which is 40 per cent higher than Budget for 2010-11.
Pre-matric scholarship scheme to be introduced for needy SC/ST students studying in
classes IX and X.
National Knowledge Network
Connectivity to all 1,500 institutions of Higher Learning and Research through optical
fiber backbone to be provided by March, 2012.
7. Innovations
National Innovation Council set up to prepare road map for innovations in India.
Special grant provided to various universities and academic institutions to recognise
excellence.
Skill Development
Additional ` 500 crore proposed to be provided for National Skill Development Fund
during the next year.
An international award with prize money of ` 1 crore being instituted for promoting
values of universal brotherhood as part of National celebrations of 150 th Birth Anniversary of
Gurudev Rabindranath Tagore.
Health
Plan allocations for health stepped-up by 20 per cent.
Scope of Rashtriya Swasthya Bima Yojana to be expanded to widen the coverage.
Financial Inclusion
Target of providing banking facilities to all 73,000 habitations having a population of
over 2,000 to be completed during 2011-2012.
Unorganised sector
Exit norms under co-contributory pension scheme “Swavalamban” to be relaxed. Benefit
of Government contribution to be extended from three to five years for all subscribers who
enroll during 2010-11 and 2011-12.
Eligibility for pension under Indira Gandhi National Old Age Pension Scheme for BPL
beneficiaries reduced from 65 years of age to 60 years. Those above 80 years of age will get
pension of ` 500 per month instead of ` 200 at present.
Environment and Climate Change
Forests
` 200 crore proposed to be allocated for Green India Mission from National
Clean Energy Fund.
Environmental Management
` 200 crore proposed to be allocated for launching Environmental Remediation
Programmes from National Clean Energy Fund.
Cleaning of Rivers and Lakes
Special allocation of ` 200 crore proposed to be provided for clean-up of some
more important lakes and rivers other than Ganga.
Some Other Initiatives
To boost development in North Eastern Region and Special Category States, allocation
for Special Assistance doubled.
` 8,000 crore provided in current year for development needs of Jammu and Kashmir.
Allocation made in 2011-12 to meet the infrastructure needs for Ladakh (` 100 crore) and
Jammu region (` 150 crore).
Allocation under Backward Regions Grant Fund increased by over 35 per cent.
Funds allocated under Integrated Action Plan (IAP) for addressing problems related to
Left Wing extremism affected districts. 60 selected Tribal and backward districts provided
8. with 100 per cent block grant of ` 25 crore and ` 30 crore per district during 2010-11 and
2011-12 respectively.
A lump-sum ex-gratia compensation of ` 9 lakh for 100 per cent disability to be granted
for personnel of Defence and Para Military forces discharged from service on medical ground
on account of disability attributable to government service.
Provision of ` 1,64,415 crore, including ` 69,199 crore for capital expenditure to be made
for Defence Services in 2011-12.
To build judicial infrastructure, plan provision for Department of Justice increased by
three fold to ` 1,000 crore.
Census 2011
To enumerate castes other than Schedule Castes and Schedule Tribes in Census 2011,
„caste‟ to be canvassed as a separate time bound exercise.
IMPROVING GOVERNANCE
UID Mission
From 1st October, 2011 ten lakh Aadhaar numbers will be generated per day.
IT Initiatives
Various IT initiatives taken for efficient tax administration. These include e-filing and e-
payment of taxes, adoption of „Sevottam‟ concept by CBEC and CBDT, web based facility
for tax payers to track the resolution of refunds and credit for pre-paid taxes and
augmentation of processing capacity.
Under Mission mode projects, funds released to 31 projects received from States/
UTs for computerisation of Commercial taxes. This will allow States to align with roll out of
GST.
Bill to amend the Indian Stamp Act proposed to be introduced shortly.
A new scheme with an outlay of ` 300 crore to be launched to provide assistance to States
to modernise their stamp and registration administration and roll out e-stamping in all the
districts in the next three years.
A new simplified form „Sugam‟ to be introduced to reduce the compliance burden of
small tax payers falling within presumptive taxation.
Three more benches of Settlement Commission to be set up to fast track the disposal of
cases.
Steps initiated to reduce litigation and focus attention on high revenue cases.
Corruption
Group of Ministers constituted to consider measures for tackling corruption.
Recommendations to be made in a time bound manner.
Performance Monitoring and Evaluation System
In pursuance of recommendations of Second Administrative Reforms Commission, 62
departments covered under Performance Monitoring and Evaluation System (PMES) to
assess their effectiveness.
TAGUP
Recommendations of Technology Advisory Group for Unique Projects (TAGUP)
submitted and accepted in principle.
9. BUDGET ESTIMATES 2011-12
Gross Tax receipts are estimated at ` 9,32,440 crore.
Non-tax revenue receipts estimated at ` 1,25,435 crore.
Total expenditure proposed at ` 12,57,729 crore.
Increase of 18.3 per cent in total Plan allocation.
Increase of 10.9 per cent in the Non-plan expenditure.
XI Plan expenditure more than 100 per cent in nominal terms than envisaged for the Plan
period.
Increase of 23 per cent in Plan and Non-plan transfer to States and UTs.
Fiscal Deficit brought down from 5.5 per cent in BE 2010-11 to 5.1 per cent of GDP in
RE 2010-11.
Fiscal Deficit kept at 4.6 per cent of GDP for 2011-12.
Fiscal Deficit to be progressively reduced to 3.5 per cent by 2013-14.
“Effective Revenue Deficit” estimated at 2.3 per cent of GDP in the Revised Estimates
for 2010-11 and 1.8 per cent for 2011-12.
All subsidy related liabilities brought into fiscal accounting.
Net market borrowing of the Government through dated securities in 2011-12 would be `
3.43 lakh crore.
Central Government debt estimated at 44.2 per cent of GDP for 2011-12 as against
52.5 per cent recommened by the 13th Finance Commission.
PART B TAX PROPOSALS
Direct Taxes
Exemption limit for the general category of individual taxpayers enhanced from `
1,60,000 to ` 1,80,000 giving uniform tax relief of ` 2,000.
Exemption limit enhanced and qualifying age reduced for senior citizens.
Higher exemption limit for Very Senior Citizens, who are 80 years or above.
Current surcharge of 7.5 per cent on domestic companies proposed to be reduced to 5 per
cent.
Rate of Minimum Alternative Tax proposed to be increased from 18 per cent to 18.5 per
cent of book profits.
Tax incentives extended to attract foreign funds for financing of infrastructure.
Additional deduction of ` 20,000 for investment in long-term infrastructure bonds
proposed to be extended for one more year.
Lower rate of 15 per cent tax on dividends received by an Indian company from its
foreign subsidiary.
Benefit of investment linked deduction extended to businesses engaged in the production
of fertilisers.
Investment linked deduction to businesses developing affordable housing.
Weighted deduction on payments made to National Laboratories, Universities and
Institutes of Technology to be enhanced to 200 per cent.
System of collection of information from foreign tax jurisdictions to be strengthened.
A net revenue loss of ` 11,500 crore estimated as a result of proposals.
Indirect Taxes
To stay on course for transition to GST.
Central Excise Duty to be maintained at standard rate of 10 per cent.
Reduction in number of exemptions in Central Excise rate structure.
10. Nominal Central Excise Duty of 1 per cent imposed on 130 items entering in the tax net.
Lower rate of Central Excise Duty enhanced from 4 per cent to 5 per cent.
Optional levy on branded garments or made up proposed to be converted into a
mandatory levy at unified rate of 10 per cent.
Peak rate of Custom Duty held at its current level.
Agriculture and Related Sectors
Scope of exemptions from Excise Duty enlarged to include equipments needed for
storage and warehouse facilities on agricultural produce.
Basic Custom Duty reduced for specified agricultural machinery from 5 per cent to 2.5
per cent.
Basic Custom Duty reduced on micro-irrigation equipment from 7.5 per cent to 5 per
cent.
De-oiled rice bran cake to be fully exempted from basic Custom Duty. Export Duty of 10
per cent to be levied on its export.
Manufacturing Sector
Basic Custom Duty reduced for various items to encourage domestic value addition vis-à-
vis imports, to remove duty inversion and anomalies and to provide a level playing field to
the domestic industry.
Rate of Export Duty for all types of iron ore enhanced and unified at 20 per cent ad
valorem. Full exemption from Export Duty to iron ore pellets.
Basic Custom Duty on two critical raw materials of cement industry viz. petcoke and
gypsum is proposed to be reduced to 2.5 per cent.
Cash dispensers fully exempt from basic Customs Duty.
Environment
Full exemption from basic Customs Duty and a concessional rate of Central Excise Duty
extended to batteries imported by manufacturers of electrical vehicles.
Concessional Excise Duty of 10 per cent to vehicles based on Fuel cell technology.
Exemption granted from basic custom duty and special CVD to critical parts/assemblies
needed for Hybrid vehicles.
Reduction in Excise Duty on kits used for conversion of fossil fuel vehicles into Hybrid
vehicles.
Excise Duty on LEDs reduced to 5 per cent and special CVD being fully exempted.
Basic Customs Duty on solar lantern reduced from 10 to 5 per cent.
Full exemption from basic Customs Duty to Crude Palm Stearin used in manufacture of
laundry soap.
Full exemption from basic Excise Duty granted to enzyme based preparation for pre-
tanning.
Infrastructure
Parallel Excise Duty exemption for domestic suppliers producing capital goods
needed for expansion of existing mega or ultra mega power projects.
Full exemption from basic Customs Duty to bio-asphalt and specified machinery
for application in the construction of national highways.
Other Proposals
Scope of exemptions from basic Customs Duty for work of art and antiquities extended to
apply for exhibition or display in private art galleries open to the general public.
11. Exemption from Import Duty for spares and capital goods required for ship repair units
extended to import by ship owners.
Concessional basic Custom Duty of 5 per cent and CVD of 5 per cent available to
newspaper establishments for high speed printing presses extended to mailroom equipment.
Jumbo rolls of cinematographic film fully exempted from CVD by providing full
exemption from Excise Duty.
Out right concession to factory-built ambulances from Excise Duty.
Relief measures proposed for raw pistachio, bamboo for agarbatti, lactose for the
manufacture of homoeopathic medicines, sanitary napkins, baby and adult diapers.
Proposals relating to Customs and Central Excise estimated to result in a net revenue gain
of ` 7,300 crore.
Service Tax
Standard rate of Service Tax retained at 10 per cent, while seeking a closer fit between
present regime and its GST successor.
Hotel accommodation in excess of ` 1,000 per day and service provided by air
conditioned restaurants that have license to serve liquor added as new services for levying
Service Tax.
Tax on all services provided by hospitals with 25 or more beds with facility of central air
conditioning.
Service Tax on air travel both domestic and international raised.
Services provided by life insurance companies in the area of investment and some more
legal services proposed to be brought into tax net.
All individual and sole proprietor tax payers with a turn over upto ` 60 lakh freed from the
formalities of audit.
To encourage voluntary compliance the penal provision for Service Tax are being
rationalised. Similar changes being carried out in Central Excise and
Custom laws.
Proposals relating to Service Tax estimated to result in net revenue gain of ` 4,000 crore.
Proposals relating to Direct Taxes estimated to result in a revenue loss of
` 11,500 crore and those related to Indirect Taxes estimated to result in net revenue gain of `
11,300 crore.