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Union Budget 2012-13
               Key Highlights
                            …A Road to
                    Recovery
                   Presentation by
                    Vgyan.com
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Presented on 16 Mar 2012   th


  Finance Minister Shri “Pranab
    Mukherjee” Presented Union
  Budget 2012, the 81st Budget in
 India's history. Individually, this is
Mukherjee's seventh annual Budget,
   Second-highest by any Finance
              Minister.


Applicable from 1st April 2012
Approach to the Budget
• GDP is estimated to grow by 6.9% in 2011-12, after
  having grown at 8.4% in preceding two years.
• Key reasons for the interruption of Indian economy:
  euro zone crisis, economy, political turmoil in Middle
  East and rise in crude oil price.
• Growth moderated due to tight monetary policy.
• Economy is turning around as core sectors and
  manufacturing show signs of recovery.
• Twelfth Five Year Plan to be launched with the aim of
  "faster, sustainable and more inclusive growth".
Overview of Indian Economy
• GDP growth estimated at 6.9% in 2011-12.
• Current account deficit at 3.6% of GDP for
  2011-12.
• Deterioration in fiscal balance in 2011-12 due to
  slippages in direct tax revenue and increased
  subsidies.
• India's GDP growth in 2012-13 expected to be
  7.6% +/- 0.25%.
• Fiscal deficit for 2012-13 pegged at Rs 5,13,590
  crore, which is 5.1 per cent of GDP.
Subsidies and FDI
Subsidies
• Efforts to keep central subsidies under 2% of GDP in
   2012-13. Over next 3 year, to be further brought down to
   1.75%.
• Subsidies related to administering the Food Security Act
   will be fully provided for.
Disinvestment Policy:
• For 2012-13, Rs 30,000 crore to be raised through
   disinvestment.
Foreign Direct Investment:
• Efforts are on to arrive at a broad-based consensus to allow
   FDI in multi-brand retail upto 51%.
Finance and Infrastructure
Financial Sector:
• Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of
    50% to new retail investors (whose annual income is below Rs 10 lakh),
    who invest upto Rs 50,000 directly in equities. The scheme will have a
    lock-in period of 3 years.
Infrastructure and Industrial Development:
• During 12th Five Year Plan period, investment in infrastructure to go up to
    Rs 50 lakh crore, half of which is expected from private sector.
• Tax free bonds of Rs 60,000 crore to be allowed for financing
    infrastructure projects in 2012-13. It was Rs 30,000 cr in 2011-12.
• IIFCL has put in place a structure for credit enhancement and take-out
    finance for easing access of credit to infrastructure projects.
Direct and Indirect Taxes
Direct Taxes:
• Exemption limit for the general category of individual taxpayers proposed
   to be enhanced from Rs 1,80,000 to Rs 2,00,000.
• Upper limit of 20% tax slab proposed to be raised from Rs 8 lakh to Rs 10
   lakh.
• Proposal to allow individual tax payers, a deduction of upto Rs 10,000 for
   interest from savings bank accounts.
• Senior citizens not having income from business proposed to be exempted
   from payment of advance tax.
Indirect Taxes:
• Standard rate of excise duty to be raised from 10% to 12%, merit rate from
   5% to 6% and the lower merit rate from 1% to 2% with few exemptions.
   Excise duty on large cars also proposed to be enhanced.
• Indirect taxes estimated to result in net revenue gain of 45,940 crore
Education and Security
Education:
• To ensure better flow of credit to students, a Credit
  Guarantee Fund proposed to be set up.
• For 2012-13, Rs 25,555 crore provided for RTE-SSA
  representing an increase of 21.7% over 2011-12.
Security
• A provision of 1,93,407 crore made for Defence
  services including 79,579 crore for capital expenditure.
  Any further requirement to be met.
• 3,280 crore proposed to be allocated for construction
  of office building of Central Armed Police Forces.
Budget Estimates 2012-13
• Gross Tax Receipts estimated at 10,77,612 crore.
• Net Tax to Centre estimated at 7,71,071 crore.
• Non-tax Revenue Receipts estimated at 1,64,614 crore.
• Non-debt Capital Receipts estimated at 41,650 crore.
• Total expenditure for 2012-13 budgeted at 14,90,925 crore.
• Fiscal deficit at 5.9% of GDP in RE 2011-12.
• Fiscal deficit at 5.1% of GDP in BE 2012-13.
• Central Government debt at 45.5% of GDP in 2012-13 as
  compared to Thirteenth Finance Commission target of 50.5
  per cent.
• Effective Revenue Deficit to be 1.8% of GDP in 2012-13.
More Details on Budget
Civil Aviation:
• Tax concessions proposed for parts of aircraft and testing
   equipment for third party maintenance, repair and
   overhaul of civilian aircraft.
• External Commercial Borrowing (ECB) to be permitted for
   working capital requirement of airline industry for a period
   of one year, subject to a total ceiling of US $ 1 billion.
Power and Coal:
• Coal India advised to sign fuel supply agreements with
   power plants,having long-term power purchase agreements
   with DISCOMs and getting commissioned on or before
   March 31, 2015.
Governance and Employment
UID-Aadhaar
• n Enrolment of 20 crore persons completed under UID mission.
   Adequate funds to
• be allocated to complete enrolment of another 40 crore persons.
Employment And Skill Development
• Allocation of `3915 crore made for National Rural Livelihood
   Missionrepresenting an increase of 34 per cent.
• Allocation for Prime Minister’s Employment Generation Programme
   increased by 23 per cent to `1,276 crore in 2012-13.
Skill Development
• Projects approved by National Skill Development Corporation
   expected to train 6.2 crore persons at the end of 10 years.
• 1,000 cr allocated for National Skill Development Fund in 2012-13.
Health and Social Security
HEALTH
• No new case of polio reported in last one year.
• Allocation for NRHM proposed to be increased from `18,115 crore in
   2011-12 to `20,822 crore in 2012-13.
• Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover
   upgradation 7 more Government medical colleges.
Social Security And The Needs Of Weaker Sections
• Allocation under NSAP raised by 37 per cent to `8,447 crore in 2012-13.
• In the ongoing Indira Gandhi National Widow Pension Scheme and Indira
   Gandhi National Disability Pension Scheme for BPL beneficiaries, pension
   amount to be raised from `200 to `300 per month.
• Lump sum grant on the death of primary breadwinner of a BPL family, in
   the age group 18-64 years, doubled to `20,000.
Agriculture
Agriculture
• Plan Outlay for Department of Agriculture and Co-operation
  increased by 18%.
• Outlay for Rashtriya Krishi Vikas Yojana (RKVY) increased to `9,217
  crore in 2012-13.
• Initiative of Bringing Green Revolution to Eastern India (BGREI) has
  Resulted in increased production and productivity of paddy.
  Allocation for the scheme increased to 1,000 cr in 2012-13 from 400
  cr in 2011-12.
Agriculture Credit
• n Target for agricultural credit raised by `1,00,000 crore to `5,75,000
  crore in 2012-13.
• Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart
  card which could be used at ATMs.
For a Common Man
Benefits/Advantage
•   Get bit more of salary due to change in Income Tax Slab, No tax on Interest
    till 10000, No Tax for unemployed Senior Citizen.
•   Low cost and Free education
•   More Benefits and low tax for Agriculture

Disadvantage
•   Pay more for all consumer goods like Mobile, Computer, Laptop, AC,
    Washing machine, Fridge, TV etc
•   Pay more for Oils and fuels due to reduced Subsidy
•   Pay more for Excise duty and Service Tax i.e. Pay more in restaurants,
    gyms, travel, tour, other all service
•   Pay high for Cars and SUV
Logon to http://indiabudget.nic.in for more details



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Union budget 2012 13 india presentation

  • 1. Union Budget 2012-13 Key Highlights …A Road to Recovery Presentation by Vgyan.com facebook/ vgyanuniversity @twitter/vgroupsIndia https://plus.google.com/108259517886515557552
  • 2. Disclaimer • This document contains INFORMATION intended for your information only. This document cannot be considered as official document of govt. or any organization. • Vgyan.com has prepared this document and has full Copyrights on it, You cannot edit or distribute it in any form but you can use it for your education purpose. • Vgyan.com is not responsible for any misprint, incomplete and wrong information.
  • 3. Presented on 16 Mar 2012 th Finance Minister Shri “Pranab Mukherjee” Presented Union Budget 2012, the 81st Budget in India's history. Individually, this is Mukherjee's seventh annual Budget, Second-highest by any Finance Minister. Applicable from 1st April 2012
  • 4. Approach to the Budget • GDP is estimated to grow by 6.9% in 2011-12, after having grown at 8.4% in preceding two years. • Key reasons for the interruption of Indian economy: euro zone crisis, economy, political turmoil in Middle East and rise in crude oil price. • Growth moderated due to tight monetary policy. • Economy is turning around as core sectors and manufacturing show signs of recovery. • Twelfth Five Year Plan to be launched with the aim of "faster, sustainable and more inclusive growth".
  • 5. Overview of Indian Economy • GDP growth estimated at 6.9% in 2011-12. • Current account deficit at 3.6% of GDP for 2011-12. • Deterioration in fiscal balance in 2011-12 due to slippages in direct tax revenue and increased subsidies. • India's GDP growth in 2012-13 expected to be 7.6% +/- 0.25%. • Fiscal deficit for 2012-13 pegged at Rs 5,13,590 crore, which is 5.1 per cent of GDP.
  • 6. Subsidies and FDI Subsidies • Efforts to keep central subsidies under 2% of GDP in 2012-13. Over next 3 year, to be further brought down to 1.75%. • Subsidies related to administering the Food Security Act will be fully provided for. Disinvestment Policy: • For 2012-13, Rs 30,000 crore to be raised through disinvestment. Foreign Direct Investment: • Efforts are on to arrive at a broad-based consensus to allow FDI in multi-brand retail upto 51%.
  • 7. Finance and Infrastructure Financial Sector: • Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50% to new retail investors (whose annual income is below Rs 10 lakh), who invest upto Rs 50,000 directly in equities. The scheme will have a lock-in period of 3 years. Infrastructure and Industrial Development: • During 12th Five Year Plan period, investment in infrastructure to go up to Rs 50 lakh crore, half of which is expected from private sector. • Tax free bonds of Rs 60,000 crore to be allowed for financing infrastructure projects in 2012-13. It was Rs 30,000 cr in 2011-12. • IIFCL has put in place a structure for credit enhancement and take-out finance for easing access of credit to infrastructure projects.
  • 8. Direct and Indirect Taxes Direct Taxes: • Exemption limit for the general category of individual taxpayers proposed to be enhanced from Rs 1,80,000 to Rs 2,00,000. • Upper limit of 20% tax slab proposed to be raised from Rs 8 lakh to Rs 10 lakh. • Proposal to allow individual tax payers, a deduction of upto Rs 10,000 for interest from savings bank accounts. • Senior citizens not having income from business proposed to be exempted from payment of advance tax. Indirect Taxes: • Standard rate of excise duty to be raised from 10% to 12%, merit rate from 5% to 6% and the lower merit rate from 1% to 2% with few exemptions. Excise duty on large cars also proposed to be enhanced. • Indirect taxes estimated to result in net revenue gain of 45,940 crore
  • 9. Education and Security Education: • To ensure better flow of credit to students, a Credit Guarantee Fund proposed to be set up. • For 2012-13, Rs 25,555 crore provided for RTE-SSA representing an increase of 21.7% over 2011-12. Security • A provision of 1,93,407 crore made for Defence services including 79,579 crore for capital expenditure. Any further requirement to be met. • 3,280 crore proposed to be allocated for construction of office building of Central Armed Police Forces.
  • 10. Budget Estimates 2012-13 • Gross Tax Receipts estimated at 10,77,612 crore. • Net Tax to Centre estimated at 7,71,071 crore. • Non-tax Revenue Receipts estimated at 1,64,614 crore. • Non-debt Capital Receipts estimated at 41,650 crore. • Total expenditure for 2012-13 budgeted at 14,90,925 crore. • Fiscal deficit at 5.9% of GDP in RE 2011-12. • Fiscal deficit at 5.1% of GDP in BE 2012-13. • Central Government debt at 45.5% of GDP in 2012-13 as compared to Thirteenth Finance Commission target of 50.5 per cent. • Effective Revenue Deficit to be 1.8% of GDP in 2012-13.
  • 11. More Details on Budget Civil Aviation: • Tax concessions proposed for parts of aircraft and testing equipment for third party maintenance, repair and overhaul of civilian aircraft. • External Commercial Borrowing (ECB) to be permitted for working capital requirement of airline industry for a period of one year, subject to a total ceiling of US $ 1 billion. Power and Coal: • Coal India advised to sign fuel supply agreements with power plants,having long-term power purchase agreements with DISCOMs and getting commissioned on or before March 31, 2015.
  • 12. Governance and Employment UID-Aadhaar • n Enrolment of 20 crore persons completed under UID mission. Adequate funds to • be allocated to complete enrolment of another 40 crore persons. Employment And Skill Development • Allocation of `3915 crore made for National Rural Livelihood Missionrepresenting an increase of 34 per cent. • Allocation for Prime Minister’s Employment Generation Programme increased by 23 per cent to `1,276 crore in 2012-13. Skill Development • Projects approved by National Skill Development Corporation expected to train 6.2 crore persons at the end of 10 years. • 1,000 cr allocated for National Skill Development Fund in 2012-13.
  • 13. Health and Social Security HEALTH • No new case of polio reported in last one year. • Allocation for NRHM proposed to be increased from `18,115 crore in 2011-12 to `20,822 crore in 2012-13. • Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation 7 more Government medical colleges. Social Security And The Needs Of Weaker Sections • Allocation under NSAP raised by 37 per cent to `8,447 crore in 2012-13. • In the ongoing Indira Gandhi National Widow Pension Scheme and Indira Gandhi National Disability Pension Scheme for BPL beneficiaries, pension amount to be raised from `200 to `300 per month. • Lump sum grant on the death of primary breadwinner of a BPL family, in the age group 18-64 years, doubled to `20,000.
  • 14. Agriculture Agriculture • Plan Outlay for Department of Agriculture and Co-operation increased by 18%. • Outlay for Rashtriya Krishi Vikas Yojana (RKVY) increased to `9,217 crore in 2012-13. • Initiative of Bringing Green Revolution to Eastern India (BGREI) has Resulted in increased production and productivity of paddy. Allocation for the scheme increased to 1,000 cr in 2012-13 from 400 cr in 2011-12. Agriculture Credit • n Target for agricultural credit raised by `1,00,000 crore to `5,75,000 crore in 2012-13. • Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart card which could be used at ATMs.
  • 15. For a Common Man Benefits/Advantage • Get bit more of salary due to change in Income Tax Slab, No tax on Interest till 10000, No Tax for unemployed Senior Citizen. • Low cost and Free education • More Benefits and low tax for Agriculture Disadvantage • Pay more for all consumer goods like Mobile, Computer, Laptop, AC, Washing machine, Fridge, TV etc • Pay more for Oils and fuels due to reduced Subsidy • Pay more for Excise duty and Service Tax i.e. Pay more in restaurants, gyms, travel, tour, other all service • Pay high for Cars and SUV
  • 16. Logon to http://indiabudget.nic.in for more details Connect with us www.vgyan.com facebook/ vgyanuniversity @twitter/vgroupsIndia plus.google/vgyan.com Prepared by facebook/ shivgyan