food bill eco survery. union budget railbudget

8/14/2019 Food Bill Eco Survery. Union Budget Railbudget

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Important Pointers on Food Security Bill

With Food Secuirty Billbeing passed in Lok Sabha lets understand the important pointers related to the same.

Whats the food security scheme?It provides for 5kg per person, per month, of rice, wheat or coarse grain. Proposes to cover 67% of Indias

population or 82 crore people, 75% rural & 50% urban. The rates at which it will be given are 3 for rice, 2 for

wheat & 1 for bajra, jowar. Cost of scheme approximately 1.3 lakh crore, up from current food subsidy bill of

75,000 crore in 2012-13. States to get one year for rollout

What about existing schemes?

Some schemes subsumed: Antodaya Anna Yojana (for poorest of poor), midday meals, meals for children aged6 months-2 years with their mothers, ICDS (for kids below 6). As of now, apart from state schemes, Centre

provided cheap food to around 32 crore people under BPL. This jumps to 82 crore. Govt will need to procure 62

million tonnes of grain

When will the scheme roll out?

There are some grey areas and missing links. States have to identify beneficiaries. This can be a problem as

exclusion criteria not clear. Centre is to share transport and commission costs, which need to be worked out.

Also govt admits to 20-35% leakage in PDS, which needs to be plugged. Ration cards reduced from 22 crore to16 crore, but more needs to be done. Storage capacity needs to be augmented

Whats the impact on the economy?There will be a push on govt spending which will increase current account deficitnot desirable in present

situation. There are also concerns that Indias procurement for the scheme could push up world food prices in

case of drought and under-procurement

Does it make for great politics?

So far states have cornered political benefits for cheap food grain. Now central govt will seek to gain the upper

hand in this populist game. On election eve, this could help Congress

ECONOMIC SURVEY : 2012-13

Economic Survey of India 2012-13:Union Finance Minister P. Chidambaram today presented the Economic Survey 2012-13 in the Lok Sabha ofthe Parliament.

India's Economic Survey for 2012-13 pegs the country's growth at 6.1-6.7%and inflation at 6.2-6.6%for the

next fiscal 2013-14 and made a strong call for cutting subsidies.

Survey said: i."With the global economy also likely to recover somewhat in 2013, these measures should helpin improving the Indian economy's outlook for 2013-14",

ii.There was across the board slowdown in all sectors during 2012-13 leading to problems in other areas of

economy, especially revenue collection.

Highlights of Economic Survey -2012-13

1. GDP growthseen at 6.1-6.7percent in 2013/14

2.Government target for fiscal deficit is 4.8 pctof GDP in 2013/14

3.Government target for fiscal deficit is 3 pctof GDP in 2016/17

4.Headline WPI inflation may decline to 6.2-6.6 pctby March2013

5.India likely to meet fiscal deficit target of 5.3 pct of GDP in 2012/13, despite significant shortfall in revenues

6.Industrial output seen growing around 3 pct in 2012/13


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7.Govt priority to fight inflation by reducing fiscal impetus to demand as well as by focusing on incentivizing

food production.

8.More jobs in low productivity construction sector

9.Balance of Payments under pressure with net exports decline

10.Service sector has shown more resilience despite global slowdown

11.Pitches for hike in price of diesel and LPG to cut subsidy burden

12.Railway freight grows by 5.1 per cent in 2012-13

13.Foreign Exchange reserves remains steady at USD 295.6 Billion at December 2012 end.

NOTE: i.Economic Survey is presented every year, just before the Union Budget.

ii.It is a flagship annual document of the Ministry of Finance, Government of India.

iii.Economic Survey reviews the developments in the Indian economy over the previous 12 months.

iv.It summarizes the performance on major development programmes, and highlights the policy initiatives of

the government and the prospects of the economy in the short to medium term.

v.The economic survey 2012-13 was prepared by a team of economists led by Chief Economic Advisor

Raghuram Rajan, and pitches for speeding up economic reforms to activate a sluggish economy.

vi.It serves as an indicator of what is likely to be contained in the General Budget proposals.

Union Budget 2013-14

Following are some of the key highlights of the Union Budget 2013-14 presented by Finance Minister PChidambaram in Parliament:

1. In 2013-14, the budget estimate is Rs 16,65,297 crore.

2.The revised expenditure target is Rs 14,30,825 crore

3.Plan expenditure Rs 5,55, 322 crore

4.Rs 14,000 crore capitalinfusion into public sector banks in 201314

5. SIDBIs refinancing facility to MSMEs to be doubled to Rs 10,000 crore

3. Rs 7 lakh crore targetsfixed for agri credit for 2013-14compared to Rs 5.75 lakh crorein the currentyear.

4. Rs 500 crorewould be allocated for addressing environmental issues faced by textile industry

5.No change in income tax slabs

6. Relief of Rs 2,000 for tax payers in tax bracket of Rs. 2-5 lakh

6. 24.3 % hike inexpenditure for health care both rural and urban health mission.

7. Headline WPI inflation to 7 per centand core inflation to 4.2 per cent.

8.Eastern Indian statesto get Rs 1,000 crore allocation for improving agricultural production.

9.Average economic growth rate in11th Plan period is 8 per cent, highest ever in any Plan period

10.Rs 500 croreallocated for programmeon crop diversification.

11.Food grain production in 2012-13will be over 250 milliontons

12.Rs 14,873 crore for JNNURMfor urban transportation in 2013-14 against Rs 7,880 crorein the currentfiscal

13.Rs 10,000 croreset aside for incremental cost for National Food Security Bill

14.Rs 80,194 croreallocated for Rural development schemesin 2013-14.

15.About Rs 33,000 crorefor MGNREGA

16.Rs 5,000 crorewill be made available to NABARDto finance construction of godowns and warehouses

17.Rs 17,700 croreto be allocated for Integrated Child Development Scheme (ICDS)

18.Rs 13,215 croreto be provided for mid-day meal scheme.

19.Rs 5,284 croreto various Ministries for scholarshipsfor SC/ST, OBCand minority students.

20.Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14strictly on capacity to raise funds fromthe market

21.Rs 4,727 croreto be allocated for medical education and research.


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22.Current year's economic growth rate will be below India's potential growth rate of 8 per cent

23. Concessional 6%interest on loans to weavers.

Fiscal deficit :i. Fiscal deficit seen at 5.2 % of GDP in 2012/13

ii.Fiscal deficit seen at 4.8 % of GDP in 2013/14

iii. Fiscal deficitto 3 % by 2016/17

Revenue Deficiti. Revenue Deficitseen at 3.9 % 2012/13

ii. Revenue Deficit seen at 3.3 % 2013/14

iii. Revenue deficit to 1.9% by 2016-17

Tax benefits in RGESS extended to 3 years i. The Rajiv Gandhi Equity Savings Scheme (RGESS) will be liberalised to enable first time retail investors

to invest in mutual funds and listed shares and not in one year alone, but for three successive years,

ii.Under the scheme, an individual with an income of less than Rs 12 lakhwould get tax incentives for

investing up to Rs 50,000in the stock market.

iii.Also, the limit for investors wanting to invest in RGESS has been raised to Rs 12 lakhfrom Rs 10 lakh

earlier.

RAIL BUDGET - 2013-14

Union Railway Minister Pawan Bansal presented the Union Railway Budget for 2013-14 in Parliament

today. The first Congress ministerto present a Railway Budget in 17 years.The Railway Budget for 2013-14 on Tuesday spared passengers from any further hike in fares but raised

various other charges on tickets along with freight tariff of less than 5 per cent.

Highlights of Budget:

1.No hike in passenger fares; 67 new expressand 26 passengertrains to be launched.

2.Indian Railways to join 1 billion tonneselect club with China.

3.Educational tourist train"Azadi Express" proposed

4.Train Collision Avoidance System to be put to rigorous trials

5.Passenger earning target Rs 32500 crore this year.

6.Freedomfighters to renew their passes only once in 3 yrs.

7.Complementary passesfor Rajiv Gandhi Khel Ratnaand Olympic awardees.

8.Coach making facilities at Bhilwara and Raebarelli.

9.Indian Railway Financial Management Institute to be set up at Secunderabad.

10.Coaches to be made wheelchair friendly.

11.Hostel facilitiesfor all single womenrailway employees at all Div.HQS.

12. Free wi-fifacility at select trains.

13. 1800111321 number for redressing complaints

14. Wagon maintenance workshop in Kalahandi in Odisha.

15. E-ticketingto be made available through mobile phone.

16. Target of investment of 1 lakh crorethrough PPP mode in 12th FYP.

17. For the first time, ArunachalPradeshbrought under Rail Network.

18.UID-Aadharto be used for ticket reservation.


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19. Freight loading estimated to be 1007 tonnes this year.

20. Railways to fill up 1.52 lakh vacancies.

21. 47000 vacancies reserved for differently abled to be filled.

22. Dronacharya awardeesto get Shatabdi and Rajdhani passes.

New Trains Introduced:

Presenting the 2013-14 Railway Budget, Mr. Bansal also said that five Mainline Electrical Multiple Units

(MEMUs)are being introduced this year besides 8DEMUs.

1.Hazrat Nizamuddin-Mumbai AC Expressvia Bhopal, Khandwa and Bhusawal- weekly service, and a

similar venture between Bikaner and Chennai.

2. Vaishnodevi, a New Delhi-Katra AC Express- run six days a week.

3.A Puri-Ajmer Express, which would be a weeklyservice, is also being introduced so also a weekly Puri-

Sai Nagar Shirdi Express.

4.Una-Nangaldam in Himachal Pradeshis being connected to Hazoor Saheb Nandedin Maharashtra

through a weekly express train which would travel via Anandpur Saheb.

5. WeeklyAhmedabad-Jodhpur expressand a similar venture between Bandra and Haridwar, and Bandra

and Jaisalmer.

6.Yesvantpur-Lucknow Express- weeklyvia Rae Bareli and Pratapgarh.

7. 9 Electric Multiple Unit(EMU) trains to be introduced.

New factories/workshops to be set up:

1. New Forged Wheel Factory at Rae Bareliin collaboration with Rashtriya Ispat Nigam Limited.

2.A Coach Manufacturing Unit in Sonepat District (Haryana)in collaboration with State Government.

3.A Midlife Rehabilitation Workshopat Kurnool(Andhra Pradesh)in collaboration with the State

Government.

4.Bikanerand Pratapgarhworkshops to undertake POH of BG wagons.

5.A workshop for repair and rehabilitation of motorized bogies at Misrod (Madhya Pradesh).

6.A new wagon maintenance workshop in Kalahandi (Odisha).

7.A modern signaling equipment facility at Chandigarh through PPP route.

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