Union Finance Minister P. Chidambaram on Thursday presented the Union Budget for fiscal year 2013-14 in Parliament on Thursday.
The highlights are as follows:
1) Financial Year 2014 plan expenditure at Rs.5.53 lakh crore
2) Financial Year 2014 Gender budget has Rs. 97134 crore
3) Average growth during UPA-1 was 8 percent
4) Current account deficit a worry because of high oil and gold import
5) Will need $75 billion to finance current account deficit
6) Need to encourage FDI in consonance with economic priorities
7) WPI inflation down to 7 percent; food inflation worrying
8) Rs. 65000 crore to Ministry of Education, Rs. 27257 crore to Sarva Shiksha Avija
9) Rs. 33000 crore for MNREGA
10) Rs. 700000 crore for agricultural credit scheme
11) Rs. 1000 crore to support increased rice production in Eastern Indian states
12) Rs. 9954 crore and Rs. 2250 crore for crop diversification under different schemes
13) National Livestock Mission launched with Rs. 307 crore
14) To allot Rs.24598 crore to the tribal sub-plan
15) Rs. 10000 crore set apart for National Food Security Bill (if passed).
16) Rs. 1000 crore initial capital for a new women's bank which will be another public sector bank.
17) Income level for Rajiv Gandhi Equity Scheme raised by Rs. 2 lakhs.
18) First home loan up to Rs. 25 lakh will get an additional Rs. 1 lakh interest deduction.
19) Rs. 100 crore in machinery investment can avail an extra 15 percent exemption over and above existing relaxations.
20) Rs. 25000 crore to be raised from four infrastructure bonds.
21) Rs. 5000 crore to NABARD to build cold storages and godown.
22) Inflation indexed bonds and NSCs to be introduced.
23) Infrastructure Development Funds will be encourage.
24) Coal imports to rise to 185 million tons from 100 million in four years.
25) New regulatory authority for road sector.
26) Rs. 7 lakh crore target fixed for agriculture credit for 2013-14 compared to Rs. 5.75 lakh crore in the current year.
27) Eastern Indian states to get Rs. 1,000 crore allocation for improving agricultural production.
28) Rs.1650 crore for new AIIMS-like medical institute.
29) Technology upgrade scheme for textile sector to get Rs.2400 crore
30) Handloom sector to get an additional Rs. 96 crore.
31) Watershed management to get Rs. 5387 crore.
32) Original Green Revolution states to get Rs. 500 crores for crop diversification.
33) Re-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs. 5,000 crore for Ministry of Small and Medium Enterprise
34) Five inland waterways have been declared as national waterways, one more announced in Assam