Budget highlights 3March 16th, 2012 - 1:08 pm ICT by IANS
* From 2012-13, full subsidies for providing food security; in other sectors to the extent the economy can bear this.
* Hope to raise Rs.30,000 crore from disinvestments.
* New equity savings scheme to provide for income tax deduction of 50 percent for those who invest Rs.50,000 in equity and whose annual income is less than Rs.10 lakh.
* Corporate market reforms to be initiated.
* Bills on micro-finance institutions, national land bank and public debt management among those to be introduced in 2012-13.
* Addressing malnutrition, black money and corruption in public life among five priorities in year ahead.
* India’s inflation structural, driven largely by agricultural constraints.
* Current account deficit 3.6 percent in 2011-12; this put pressure on exchange rate.
* Growth in 2012-13 estimated at 7.6 percent; expect inflation to be lower.
* Better monitoring of expenditure on government schemes.
* Fiscal 2011-12 year of recovery interrupted; reality turned out to be different.
* GDP growth in 2011-12 estimated at 6.9 percent; had to battle double digit inflation for two years.
* Good news: agriculture and services continued to perform well; economy is now turning around; recovery in core sectors.
* Now at juncture where it is necessary to take hard decisions; have to accelerate pace of reforms.
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- Prominent highlights of 2012-13 budget - Mar 16, 2012
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- Budget highlights 7 - Mar 16, 2012
- Budget highlights 2 - Mar 16, 2012
- Budget highlights - Mar 16, 2012
- Mukherjee's budget promises tax relief, subsidy cut, reforms (Fourth Lead) - Mar 16, 2012
- Difficult to meet 4.6 percent fiscal deficit target: Pranab - Jan 11, 2012
- Economic Survey 2011-12 highlights - Mar 15, 2012
- Indian economy may grow at 8 percent in 2012-13: Rangarajan (Lead) - Feb 22, 2012
- India's economic growth dips to 9-year low of 5.3 percent (Roundup) - May 31, 2012
- Budget promises more money for all - farmers to corporates (Third Lead) - Feb 28, 2011
- Mukherjee puts money in one pocket, takes out from others (Roundup) - Mar 16, 2012
- Growth may be revised upward from 6.9 percent: Pranab - Feb 07, 2012
- PMEAC lowers 2012-13 GDP forecast to 6.7 percent - Aug 17, 2012
Tags: black money, constraints, core sectors, corruption, crore, current account deficit, exchange rate, food security, gdp, gdp growth, government schemes, income tax deduction, inflation, juncture, malnutrition, market reforms, micro finance institutions, public debt management, savings scheme, subsidies