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