Highlights of Union Budget 2011-12

February 28th, 2011 - 12:55 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:

GDP rises by 8.2 per cent for the December 2010, quarter as against 7.3 per cent in the corresponding period of the previous year

Expect average inflation to be lower next year

Have to ensure more stable macro economic environment

Budget is a transition towards transparent economy

Do not forsee resources being a major constrain in medium-termTotal food inflation down from 20.2 per cent last year to 9.3 per cent in Jan; still a matter of concern

Indian economy back to pre-crisis growth trajectory

Government has to reconcile ecological concerns with development aspirations.

Exports have grown at 29.4 per cent

Government is engaging in solving gaps in recent corporate governance

Stronger fiscal consolidation reached

Economy regained pre-crisis growth momentum

Average inflation and current account deficit to be lower and better managed next yearExpect inflation and CAD to be lower in 2011-2012

Economy to grow at 9 per cent, plus or minus 0.25 pct in 2012

GDP in FY11 estimated to have grown at 8.6 per cent in real terms

Overall economic growth expected at 8.6 per cent, agriculture growth at 5.4 per cent, industry at 8.1 per cent and services 9.3 per cent

High current account deficit a cause of concernCurrent account deficit and average inflation in 2011-12 likely to be less than current yearPublic Debt Management Agency Bill to be introduced next financial year (ANI)

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