BUDGET 2013P.Chidambaram

(Minister of Finance)

“Higher growth leading to inclusive & sustainable development”

ECONOMIC GROWTH OF 2012

Global economy growth of a country slowed down from 3.9% in 2011 to 3.2% in 2012.

Export and Import amount to 43% of GDP.

CSO has estimated growth at 5%.

RBI estimated growth at 5%.

Final Estimate, it will be below India’s Potential growth of 8%.

Budget Estimation

2012 2013

Total Expenditure Rs.14,90,925 Rs.16,65,297

Plan Expenditure Rs.14,30,825 Rs.5,55,322

(amount in crore)

SC, ST, Women and Children

Rs.97,134C Allotted for programmers related to women.

Rs.77,236C Allotted for programmers related to children.

Disable Person

2012-2013

Rs.75 crore allotted.

2013-2014

Rs.110 crore allotted to the department of disability affairs for ADIP scheme.

Health

Ministry of Health and Family Welfare allotted – Rs.37,330C

New National Health Mission allotted - Rs.21,239C

National Programmers for Health Care of Elderly-Rs.150C

Education

Ministry of HRD -Rs.65,867C

Medical education, Training & Research -Rs.4,727C

Scholarship to students belonging to SC,ST,OBC,Minority & Girl children – Rs.5,284C

ICDS

2012-2013

Rs.15,850C provided.

2013-2014

Rs.17,700C provided.

Rural Development

2012-2013

Rs.55,000C allotted.

2013-2014

Rs.80,194 allotted for ministry.

Benefited state-AP,H,K,M,P & R.

Green Revolution

Bringing green revolution to Eastern India Rs.1,000C allotted in 2013-2014.

Assam, Bihar and West Bengal have increased their contribution to rice production.

Banking

2012-2013

Rs.12,517C allotted.

Rs.4000C to RHF

2013-2014

Rs.14,000C allotted as infusing capital.

6,000 crore to Rural Housing Fund in 2013-14.

Infrastructure

Infrastructure Debt Funds (IDF) to be encouraged.

Infrastructure tax-free bond of Rs.50,000 crore in 2013-14.

3000 km of road projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh will be awarded in the first six months of 2013-14.

Investment

Rajiv Gandhi Equity Savings Scheme to be liberalised.

Additional deduction of interest upto Rs.1 lakh for a person taking first home loan upto Rs.25 lakh during period 1.4.2013 to 31.3.2014.

Post Offices

To modernise the postal network at a cost of Rs. 4,909 crore.

Post offices to become part of the core banking solution and offer real time banking services.

Tax Proposal

No change in the normal rates of 12% for excise duty and service tax.

Duty on specified machinery for manufacture of leather and leather goods including footwear reduced from 7.5 to 5 percent.

Cell phone, air-conditioned restaurant meals tax are increased in service tax.

Readymade garments, carpets and jute will cost less owing to reduction in excise duty.

Duty on Set Top Boxes increased from 5 to10 percent.

Duty on raw silk increased from 5 to 15 percent.

THANK YOU…