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TMI BlogUnion Budget 2011-12 HighlightsX X X X Extracts X X X X X X X X Extracts X X X X ..... Union Budget 2011-12 Highlights X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to grow at 9% in 2011-12. * Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption * Public Debt Management Agency of India Bill to come up next financial year * Direct Tax Code (DTC) to be effective from April 01, 2012 * Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer moo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted * Rs.40,000 crore to be raised through disinvestment in 2011-12 * FDI policy to be liberalized further * SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement * FII limit for investment in corporate bonds in infrastructure sector raised * Additional banking license to private sector players proposed * Rs.6000 crore to be provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8% in public sector banks * Rs.500 crore to be provided to regional rural banks to maintain 9% CRAR * India Microfinance Equity Fund of Rs.100 crore to be created by SIDBI * Rs. 500 crore Women SHG Development Fund to be created * Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provided to SIDBI and Rs.3000 crore to NABARD * Existing housing loan limit enhanced to Rs.25 lakh for dwelling units * Provision under Rural housing Fund enhanced to Rs.3000 crore * Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs.7860 crore * Allocation of Rs.300 crore to promote 60000 pulses villages in rainfed areas * Rs. 300 crore vegetable initiative to achieve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... competitive prices * Rs.300 crore to promote higher production of nutri-cereals * Rs.300 crore to promote animal based protein * Rs.300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages * Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore * Rs.10,000 crore for NABARD's Short Term Rural Credit Fund for 2011-12 * 15 more mega food ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... parks during 2011-12 * National food security bill to be introduced this year * Capital investment in storage capacity to be eligible for viability gap funding * 23.3% increase in allocation for infrastructure * Tax-free bonds of Rs.30,000 crore proposed by government undertakings * Environmental concerns relating to infrastructure projects to be considered by Group of Ministers * Nat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Mission for Hybrid and Electric Vehicles to be launched * 7 Mega clusters for leather products to be set up * Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation * Bharat Nirman allocation increased by Rs.10,000 crore * Rural broadband connectivity to all 2.5 lakh panchayats in three years. * Bill to amend Indian Stamp Act to introduce. Rs.300 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crore scheme for modernization stamp and registration administration * Significant increase in remuneration of Angawadi workers and helpers * Allocation for education increased by24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40% * 1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network. * National Innovation Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncil set up. Additional Rs.500 crore for National Skill Development Fund * Plan allocation for health stepped up by20% * Indira Gandhi National Old Age Pension Scheme liberalized further * Rs.200 crore for Green India Mission * Rs.200 crore for cleaning of rivers * Rs.8000 crore provided for development needs of J&K * 10 lakhs Aadhaar(UID) numbers to be generated everyday from 1st Octo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ber
* Fiscal deficit kept at 4.6% of GDP for 2011-12
* Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
* Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
* Surcharge on corporate lowered to 5% X X X X Extracts X X X X X X X X Extracts X X X X
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