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Union Budget 2013-14: Highlight-2

New Delhi, Thu, 28 Feb 2013 NI Wire

Union Finance Minister P. Chidambaram on Thursday presented the Union Budget for fiscal 2013-14 in Parliament today.

The highlights are as follows:

  • Defence gets Rs 2,20,000 crore, 86721 crore for capital expenditure
  • Rural housing to get Rs 6000 crore, urban housing Rs 2000 crore
  • Two new ports in West Bengal and Andhra Pradesh
  • Domestic workers, Anganwadi workers, etc to get group insurance
  • 17 per cent hike in education, 22 per cent in agriculture, 46 per cent for rural development
  • Tax-free infrastructure bonds of Rs.50,000 crore to be issued
  • Gas handling terminal at Dabhol in Maharashtra to be fully operational during 2013-14
  • Two new ports to be set up in West Bengal and Andhra Pradesh to ad 100 million tonnes handling capacity
  • National Skill Development Corporation to train five crore people in current plan period
  • National Livestock Mission to be launched to attract investment and increase fodder production.
  • Rs 1000 crore initial capital for a new women's bank which will be another public sector bank.
  • Income level for Rajiv Gandhi Equity Scheme raised by Rs 2 lakh
  • First home loan up to Rs 25 lakh will get an additional Rs 1 lakh interest deduction
  • Rs 100 crore in machinery investment can avail an extra 15 per cent exemption over and above existing relaxations
  • Rs 25000 crore to be raised from four infrastructure bonds
  • Rs 5000 crore to NABARD to build cold storages and godowns
  • Inflation indexed bonds and NSCs to be introduced
  • Infrastructure Development Funds will be encouraged
  • Coal imports to rise to 185 million tonnes from 100 million in four years
  • New regulatory authority for road sector
  • Rs. 7 lakh crore target fixed for agriculture credit for 2013-14 compared to Rs. 5.75 lakh crore in the current year
  • Eastern Indian states to get Rs. 1,000 crore allocation for improving agricultural production
  • Rs 1650 crore for new AIIMS-like medical institutes
  • Technology upgrade scheme for textile sector to get Rs 2400 crore
  • Handloom sector to get an additional Rs 96 crore
  • Watershed management to get Rs 5387 crore
  • Original Green Revolution states to get Rs 500 crore for crop diversification
  • Re-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs. 5,000 crore for Ministry of Small and Medium Enterprises
  • Five inland waterways have been declared as national waterways, one more announced in Assam
  • Financial Year 2014 plan expenditure at Rs.5.53 lakh crores
  • Financial Year 2014 Gender budget has Rs. 97134 crore
  • Average growth during UPA-1 was 8 percent; high growth not a novelty
  • Current account deficit a worry because of high oil and gold imports
  • Will need $75 billion to finance current account deficit
  • Need to encourage FDI in consonance with economic priorities
  • WPI inflation down to 7 percent; food inflation worrying
  • Rs 65000 crore to Ministry of Education, Rs 27257 crore to Sarva Shiksha Avijan
  • Rs 33000 crore for MNREGA
  • Rs 700000 crore for agricultural credit schemes
  • Rs 1000 crore to support increased rice production in Eastern Indian states.
  • Rs 9954 crore and Rs 2250 crore for crop diversification under different schemes.
  • National Livestock Mission launched with Rs 307 crore
  • To allot Rs24598 crore to the tribal sub-plan
  • Rs 10000 crore set apart for National Food Security Bill (if passed)

--With ANI Inputs--

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