Highlights of Union Budget 2011-12 (Part-II)

February 28th, 2011 - 1:09 pm ICT by ANI  

New Delhi, Feb 28 (ANI): Union Finance Minister Pranab Minister on Monday presented the Union Budget 2011-12 in the Parliament.

Highlights of Union Budget 2011-12 are as follows:

* New Public debt management bill to be introduced in Parliament soon

* DTC will be finalised in 2011

* Average inflation and current account deficit to be lower and better managed next year

* Government in the process of setting up independent debt managing committee within Finance Ministry

* Fertilisers from March 2012 in view of large diversion

* Government to move towards direct cash transfer of cash subsidy as regards kerosene, LPG and fertilisers from March 2012 in view of large diversion

* Government to keep up tempo of disinvestment process

* Government will introduce GST Bill in current session

* To introduce Public Debt AMC of India Bill in FY12

* SEBI registered mutual funds to accept subscription from foreign investors

* NRI’s are allowed to invest in mutual funds

* Portfolio investment would be permitted in SEBI registered mutual funds from foreign subscriptions

* RBI to issue guidelines on banking licesnes this fiscal

* One percent interest subvention on home loans upto 15 lakh

* Propose to create a women’s self help group with a corpus of Rs 500 crore

* To move to direct cash subsidy for fertilisers, kerosene

* To raise corpus of rural infrastructure development fund to 180 billion rupees in 2011/12

* Housing loan limit raised to 25 lakh for priority sector lending

* Interest subvention on housing loans extended by one year

* Propose to give Rs 3000 crore to NABARD (ANI)

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