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

February 28th, 2011 - 1:20 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:

* Removal of supply bottlenecks in food sector in focus in 2011-12

* Interest subvention on housing loans eligibility relaxed

* Extension of NBS to cover urea under consideration

* Rs 100 crore equity funds for microfinance companies

* Private investment in Agro Processing should increase

* Banks have been asked to increase lending to farmers

* Propose to provide Rs 6000 crore for PSU bank recapitalization

* Rs 6,000 crore to be given to public sector banks to maintain capital-to-risk assets ratio norms

* Government plans to create a Women Self Help Group development fund with a corpus of Rs 500 crore

* Allocation under Rashtriya Krishi Vikas Yojana to be raised from Rs 6755 crore in the current year to Rs 7860 crore

* Rs 300 crore provided to promote pulses cultivation in rain-fed areas

* Government proposes to promote organic farming methods to enable farmers get best from their land

* Government to boost infra development proposes tax-free bonds of 300 billion rupees

* Three percent interest subsidy to farmers in 2011-12

* Existing interest subvention scheme on short term farm loans at seven per cent interest to continue (ANI)

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