Highlights of Union Budget 2011-12 news
28 February 2011
  • Direct tax sops to result in Rs 11,500 cr net revenue loss
  • Investment-linked deductions for fertilisers and developers of affordable housing
  • Low withholding tax of 5% for notified infra funds
  • Foreign dividend tax rate cut to 15% for Indian companies
  • Total plan expenditure will go up 100% in nominal terms in the next year
  • Service tax unchanged at 10%
  • Extension of investment on long-term infrastructure bonds by one more year
  • Minimum alternate tax raised from 18% to 18.5% of book profits
  • Rs. 20,000 exemption for investment in infra debt funds for another year
  • Maintain standard rate of excise duty at 10 pct
  • Threshold income tax limit raised from Rs 1.6 lakh to 1.8 lakh
  • Financial Sector Legislative Reforms Commission, to be headed by former Supreme
  • Court judge B Srikrishna, to complete its work in 24 months.
  • Propose to levy MAT on developers of SEZs
  • New category for 80 yrs and above, limit is Rs 5 lakh
  • MAT increased to 18.5 %
  • In FY12 gross tax receipts at Rs 9.32 lakh crore: FM
  • Relaxation in exit age for National Pension scheme
  • Anganwadi workers' salary up from Rs 1500 to Rs 3,000/mnth; helpers to get Rs 1500
  • State innovations council to be set up
  • Scholarship for needy SC/ST students in class 9 and class 10
  • Rs. 54 cr each to AMU Centres
  • Budget allocation for Defence sector at more than 1.64 trln rupees
  • Allocation of Rs. 52057cr for education sector, increase of 24%
  • Health sector outlay at Rs. 26760cr, increase of 20%
  • Expect 10 lakh numbers to be generated per day from 1st Oct 2011 under UID
  • Propose 300 crore to modernise stamp and registration in states
  • Rs. 9 lakh compensation to be given to men of Defence and Central paramilitary forces for permanent disability and discharged from service
  • Budget allocation of Rs. 150 cr for Jammu for implementation of projects identified by taskforce
  • Rs. 8000 cr assigned for J&K for development projects
  • Funds of Rs. 25 cr and 30 cr for Naxal affected areas
  • Some 20 lakh Adhaar numbers given
  • To speed up justice, propose a fund of RS 1000 crore to build judicial infrastructure and develop project ethos
  • Rs. 58000 cr allocation for Bharat Nirman schemes
  • Increased outlay on social sector outlay
  • 10 existing double taxation avoidance treaties revised
  • 5-fold strategy on black money
  • 15 mega food parks to be set up
  • Jodhpur to be included for handicraft sector development
  • Delhi metro phase 3 to be taken up
  • Mortgage risk guarantee fund to be created for economically weaker sections
  • Financial assistance to ongoing metro projects
  • Rs. 3000 cr to NABARD for more credit flow
  • Increase in target credit flow to farmers
  • States must review APMC Act
  • Banks have been asked to increase lending to farmers
  • 40 lakh tonne storage capacity by FY12
  • Infrastructure status to cold storage chains
  • 24 new cold storage projects sanctioned
  • Private investment in agro processing to be increased
  • Discussions on to further liberalise FDI policy
  • 1% interest subvention for home loans up to Rs 15 lakh
  • 100 cr equity funds for micro finance companies
  • Housing loan limit raised to 25 lakh for priority sector lending
  • Bill to allow RBI to grant more banking licenses
  • FII investment in corporate bonds hiked to 40 bn USD
  • RBI guidelines for banking licenses by year-end
  • Propose to form Women self help group development fund
  • Economic growth rate expected at 8.75% to 9.25% in FY12
  • Government to introduce GST bill amendments in this session
  • Union Finance Minister aims for fiscal deficit of 3% by Financial Year 2014
  • Will move to direct tax subsidy for fertiliser and kerosene
  • Considering new fertilizer policy for urea
  • Industrial growth seen at 8.1 percent, agriculture at 5.4 percent
  • Financial Year 2012 disinvestment target is Rs 40,000 crore
  • Direct transfer of kerosene, LPG subsidy to BPL people
  • Showing the road to a simpler future
  • Food inflation down, but still a matter of concern
  • Rollout of DTC to be effective from April 1, 2002
  • Finance Minister expects current account deficit to come down next year
  • Shri Pranab Mukherjee expects RBI measures to moderate inflation
  • Union Finance Minister Shri Pranab Mukherjee begins Budget speech in Parliament




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Highlights of Union Budget 2011-12