Budget highlights 4

March 16th, 2012 - 1:15 pm ICT by IANS  

* Infusion of Rs.15,888 crore in public sector banks, regional rural banks and NABARD in 2012-13.

* Infrastructure will require Rs.50 lakh crore in 12th Plan, half of this from the private sector.

* Completion of highway projects 44 percent higher than in previous fiscal.

* External commercial borrowing of up to $1 billion permitted for airline sector.

* External commercial borrowing permitted to low-cost housing sector.

* 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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