Union Budget 2011 - Vishnu

8/6/2019 Union Budget 2011 - Vishnu

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A Present on

UNION BUDGET -2011 12

By Vishnu


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b u d g e t Budget is a master financial plan of the

government containing its programs &policies, estimated receipts & proposedexpenditure under different heads for a

specific period of time, usually one year.

In India, Budget is presented each year on the

last working day of February by the FinanceMinister of India in Parliament.


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HIGHLIGHTS

OF-BUDGET 2011 12


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FISCAL DEFICIT Net market borrowing for 2011-12 seen at Rs 3.43

trillion.

Revised gross market borrowing for 2010-11 at Rs

4.47 trillion.

Fiscal deficit seen at 5.1 percent of GDP in 2010-11




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Total expenditure in 2011-12 seen at 12.58trillion rupees

Plan expenditure seen at Rs 4.41 trillion in2011-12, up 18.3 percent

SPENDING


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REVENUE

Gross tax receipts seen at Rs 9.32 trillion in2011-12

Corporate tax receipts seen at Rs 3.6 trillion in

2011-12

Tax-to-GDP ratio seen at 10.4 percent in 2011-12; seen at 10.8 percent in 2012-13

Customs revenue seen at Rs 1.52 trillion in2011-12


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( )REVENUE cont Factory gate duties seen at Rs 1.64 trillion in

2011-12

Non-tax revenue seen at Rs 1.25 trillion in2011-12

Service tax receipts seen at Rs 82,000 crore in2011-12

Telecom fees, auction of broadband spectrumto raise Es 296.5 billion in 2011-12


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SUBSIDIES

Subsidy bill in 2011-12 seen at Rs 1.44 trillion

Food subsidy bill in 2011-12 seen at Rs 605.7billion

Revised food subsidy bill for 2010-11 at Rs606 billion

Fertiliser subsidy bill in 2011-12 seen at Rs500 billion


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( )SUBSIDIES cont Revised fertiliser subsidy bill for 2010-11 at Rs

550 billion

Petroleum subsidy bill in 2011-12 seen at Rs

236.4 billion

Revised petroleum subsidy bill in 2010-11 atRs 384 billion

State-run oil retailers to be provided with Rs200 billion cash subsidy in 2011-12


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GROWTH EXPECTATIONS Economy expected to grow at 9 percent in

2012, plus or minus 0.25 percent.

INFLATION EXPECTATIONS

Inflation seen at 5 percent in 2011-12


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TAXES

Standard rate of excise duty held at 10percent

Service tax rate held at 10 percent

Scope of service tax to be widened

Minimum alternate tax raised to 18.5 percentfrom 18 percent


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Iron ore export duty raised to 20 percent

Personal income tax exemption limit raised to Rs180,000

Surcharge on domestic companies raised to 5percent

DISINVESTMENT

Disinvestment in 2011-12 seen at Rs 400 billion


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POLICY REFORMS Foreign direct investment policy to be

liberalised further in 2011-12

Infrastructure debt funds to be created

Infrastructure growth to be boosted with tax-free bonds of Rs 300 billion

Raised foreign institutional investor limit in 5-year corporate bonds for investment ininfrastructure by $20 billion


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( )POLICY REFORMS cont Food security bill to be introduced this year

To permit Securities and Exchange Board ofIndia (SEBI) registered mutual funds toaccess subscriptions from foreigninvestments

Public debt bill to be introduced in parliament

soon


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SECTOR SPENDINGTo allocate more than Rs 1.64 trillion to

defence sector in 2011-12

Corpus of rural infrastructure development

fund raised to Rs 180 billion in 2011-12

To provide 201.5 billion rupees capital infusionin state-run banks in 2011-12

To allocate 520.5 billion rupees for theeducation sector * To raise health sectorallocation to 267.6 billion rupees


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AGRICULTURE

To focus on removal of supply bottlenecks inthe food sector in 2011-12

To raise target of credit flow to agriculturesector to Rs 4.75 trillion

Gives 3 percent interest subsidy to farmers in2011-12

Cold storage chains to be given infrastructurestatus


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( )AGRICULTURE cont Capitalisation of National Bank for Agriculture

and Rural Development (NABARD) of Rs 30billion in a phased manner

To provide 3 billion rupees for 60,000 hectaresunder palm oil plantation

Actively considering new fertiliser policy for

urea


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FINANCE MINISTER s SAY ON THE STATE OF THE ECONOMY

"Fiscal consolidation has been impressive. Thisyear has also seen significant progress inthose critical institutional reforms that willpave the way for double digit growth in the

near future.

"At times the biggest reforms are not the onesthat make headlines, but the ones

concerned with details of governance whichaffect the everyday life of aam aadmi(common man). In preparing this year'sbudget, I have been deeply conscious of thisfact."


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FINANCE MINISTER s SAY ON GOVERNANCE

"Certain events in the past few months mayhave created an impression of drift ingovernance and a gap in publicaccountability ... such an impression ismisplaced."


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Union Budget 2011 - Vishnu

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