Amid the much expectations from every section of country and also globally, the Union Finance Minister P Chidambaram has started the much-awaited budget, which will be the last one for the UPA-2 government.
Finance Minister has given the indication that despite the global economic growth slowed, India is bound to retain its expectation. He hinted that high growth is a novelty and not beyond the reach of India.
It is noted that this is the eighth budget presented by finance minister P. Chidambaram. He is just short of two budgets to get total 10, which is in name of former Prime Minister Morarji Desai.
Highlights: These are the highlights of the budget presented by Chidambaram in House.
Foodgrain production during 2013-13 estimated at 250 million tonnes.
Rs.500 crore allocated for promoting crop diversification
Rs.200 crore allocated for promoting nutrient-rich crops
Rs.50 crore allocated for farmer-producer organistions
National Livestock Mission to be launched with allocation of Rs.307 crore
Hope parliament will pass food security bill; Rs.10,00 crore alloated for initial expenditure on implementation
Human resource development ministry to get Rs.65,867 crore
Rs.13,250 crore allocated for midday meals scheme
Rs.17,700 crore allocated for Integrated Child Development Scheme
Drinking water and sanitation ministry allocated Rs.15,260 crore
Allocation of rural development ministry allocation raised by 46 percent to Rs.80,294 crore; Rs.33,000 crore for rural jobs scheme
Budget expenditure for 2013-14 at Rs.16 lakh 65,297 crore; plan expenditure at 5 lakh 55,224 crore
Rs.41,000 crore for Scheduled Caste plan
Rs.97,000 crore for women's development
Rs.110 crore for department of disabilities
Rs.37,330 crore for health ministry
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.
(With inputs from IANS)
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