budget of hope - india union budget 2011
DESCRIPTION
He may not be the reform leader, the change agent or the face of India's growth story. But many in the new India and the pink press of today want him to don that role, at least now. Heading into Budget day, our finance minister will be reminded of all that he has not done, the conformist who fitted in rather than looked beyond.TRANSCRIPT
11:02 : Finance Minister Pranab mukherjee begins his speech
11:03 : Food inflation remains a concern: Pranab
11:04 : Pranab asserted that development needs to be more inclusive
11:05 : Need to ensure more private investment and Agriculture supply need to be ease
11:07 : Stronger consolidation fiscal is required: Pranab
11:08 : Pranab begins brief overwiew of economy
11:10 : Total food inflation down from 20.2 per cent last year to 9.3 per cent in January
11:10 : Pranab said that corruption remains a problem, which has to be fought collecvtively
11:11 : GDP growth at 8.6% in Fiscal Year 2011
11:11 : Agriculture Growth at 5.4% in Fiscal Year 2011
11:12 : I see Budget 2011-12 as transition towards more transparent and result-oriented economic management: Mukherjee
11:13 : Current account Deficit a concern, says FM
11:13 : Gap between the whole sale prices and retail prices is unacceptable
11:15 : Pranab in his speech sought the blessing of Lord Indra for good monsoon
11:16 : Pranab proposed Public Debt Management Bill
11:17 : GTC roll out from April 1, 2012
11:18 : Introduction of GTC, DTC will increase compliance
11:19 : A nutrition based subsidy has been set up in 2011-2012
11:20 : Current account deficit and average inflation in 2011-12 likely to be less than current year
11:20 : New policy for fertiliser urea is being considered
11:21 : Will move to direct tax subsidy for kerosene and fertiliser
11:22 : A Tax Force constituted to look into subsidy for people below poverty line
11:23 : FIIs allowed to invest in mutual fund schemes
11:22 : A Tax Force constituted to look into subsidy for people below poverty line
11:21 : Will move to direct tax subsidy for kerosene and fertiliser
11:22 : A Tax Force constituted to look into subsidy for people below poverty line
11:23 : FIIs allowed to invest in mutual fund schemes
11:25 : FII investments in corporate bonds increased to 40 bn
11:25 : RBI guidelines for banking licenses by year end
11:26 : 100 cr equity fund for micto finance companies
11:27 : Discussions on to further liberalise FDI policy
11:27 : Bill to allow RBI to grant more banking licences
11:29 : Housing loan limit increased to 25 lakh for priority sector
11:29 : Financial sector reforms to move forward; Insurance amendment bill, LIC bill and Pension Development Authority Bill in current session
11:31 : 1% interest subvention on home loans upto 15 lakhs
11:31 : New companies buill in current session of parliament
11:32 : Sensex gains by 300 points during the budget presentation
11:33 : Proposal to increase rural housing fund to Rs 3,000 crore
11:35 : Government plans to create a Women Self Help Group development fund with a corpus of Rs 500 crore
11:36 : Allocation under Rashtriya Krishi Vikas Yojana to be raised from Rs 6755 crore in the current year to Rs 7860 crore
11:38 : Rs 3000 cr for NABARD
11:40 : 3% interest subsidy to farmers
11:40 : 15 mega food parks to be introduced
11:41 : Average inflation will be lower in fiscal year 2012
11:41 : 24 new cold storage projects sanctioned
11:42 : States nust review APMS act: FM
11:43 : Infrastructure status to cold storage chains
11:43 : 40 L tonnes storage capacity by 2012
11:43 : Credit flows to farmers raised from Rs 3.75 lakh crore to Rs 4.75 lakh crores
11:44 : Promoting organic farming methods proposed
11:45 : 30, 000 cr tax free bonds for Railways
11:46 : Existing interest subvention scheme on short term farm loans at 7 % interest to continue
11:46 : NABARD capital base to be strengthened, Rs 10,000 cr to be provided to it as short term credit fund.
11:47 : Financial assistance for ongoing Metro projects
11:49 : Five fold strategy to be put into action to deal with the Black Money issue
11:51 : 10 existing double taxation avoidance treaties revised
11:52 : Bharat Nirman allocated 58,000 crore
11:53 : Proposal to introduce self-assessment of customs duty wherein importers and exporters will themselves assess payment of duty
11:55 : NREGA wages to be indexed to inflation
11:56 : 24% increase in education outlay
11:57 : scholarship sceme for sceduled caste students of class 9 and 10
11:57 : Food security bill to be introduced this year
11:58 : Rs 54 cr to each AMU centres
11:59 : Rs 20 cr for IIM Kolkata
11:59 : Rs 200 cr for Maulana Azad Medical college
12:00 : Remuneration of anganwadi workers raised from Rs 1500 to Rs 3,000 per month. Helpers to get Rs 1,500 from Rs 750
12:00 : Rs 500 cr for National Skill Development fund
12:01 : International award with prize money of Rs 1 cr in memory of Rabindra Nath Tagore
12:02 : 21, 000 cr for Sarva Sikhsha Abhiyan
12:02 : 10, 000 cr to rural telephony
12:04 : Under Indira Gandhi National Old Age scheme the pension will be granted to people above 60
12:05 : The pension amount increased for Rs 200 to Rs 500 cr
12:05 : A bank will be set up in a village of more than 2000 people
12:06 : Special allocation for cleaning up rivers other than Ganga
12:08 : Special scheme for Maoist affected area, each rea to be allocated 25-30 cr
12:09 : Integrated development schemes for Naxal affected areas
12:10 : 9 L ex-gratia payment to disabled defence personnel
12:12 : Rs 1,64,000 announced for Defence Budget
12:14 : Budget allocation of Rs 100 cr for Ladakh and Rs 150 cr for Jammu for implementation of projects identified by taskforce
12:14 : Relaxation in e filing norms of small tax payers
12:20 : Rs 300 cr to be provided as assistance to states for modernising and stamps and registration administration
12:21 : Tax recovery more than Rs 6,00000 cr
12:22 : Expences as per policy more than Rs 4, 0000 cr
12:23 : TAx Exemption Limit increased from 1,60, 000 to 1,80,000
12:24 : Corporate: The current sur charge reduced to 5%
12:24 : Corporate: The current sur charge reduced to 5%
12:29 : Fiscal defict likely to be 4.6% in Fiscal year 2012
12:30 : Exemption limit to senior citizens above 80 increased to Rs five lakhs
12:31 : Revenue deficit likely to be 3.1 % in Fiscal year 2011-2012
12:32 : No roll back in service tax, stays at 10%
12:33 : Hike in service tax in international and local travel
12:33 : Minimum alternate tax raised from 18 per cent to 18.5 per cent of book profits.
12:34 : Excise duty on more than 100 consumer products rolled back
12:36 : No excise duty on food, basic products
12:38 : Central government debt in proportion to GDP will be 44.2 per cent in 2011-12
12:38 : Net loss from direct tax proposals estimated at Rs 11,500 crore
12:40 : Peak rate of customs duty maintained at 10 per cent in view of the global economic situation.
12:38 : Net loss from direct tax proposals estimated at Rs 11,500 crore
12:40 : Peak rate of customs duty maintained at 10 per cent in view of the global economic situation.
12:41 : No new Tax exemption limit for women
12:42 : Custom duty on yarn, steel cut down
12:42 : Custom duty on yarn, steel cut down
12:44 : No change in CENVAT rates
12:45 : Iron eaxpected to turn costlier
12:46 : Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent.
12:46 : Basic customs duty on raw silk reduced from 30 to 5 per cent.
12:46 : Export duty rates on iron ore unified and kept at 20 per cent ad valorem
12:48 : Excise and customs duty proposals to result in the net gain of Rs 7,300 crore
12:50 : Cheaper: Mobiles, Home Loans, Diapers, Homeopathic medicines
12:51 : Service tax widened to cover hotel accommodation above Rs 1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests
12:52 : Pranab Mukherjee wraps up the budget speech