Union Budget 2011-12: Highlights
Posted on: 25/Feb/2011 5:29:52 AM
Union Budget 2011-12: Highlights
* Health sector gets Rs 26760 crores, PSU banks Rs 6000 crores
* Infrastructure spending to rise by 24%. To allocate Rs 58,000 crores for Bharat Nirman projects
* Food security bill to be introduced this year
* Allocation for the defence sector at more than Rs 1.64 trillion.
* Common Man: Exemption limit for citizens above 80 years (very senior citizens) raised to Rs 5 lakhs
* Common Man: Senior citizens eligibility age reduced from 65 to 60. Exemption limit raised to Rs 2.5 lakhs.
* Common Man: Again like we mentioned in our pre-budget note, tax exemption limit is to be raised from Rs 160000 to Rs 180000. No new tax exemption limit for women
* Pay of Anganwadi workers hiked from Rs 1500 to Rs 3000 per month.
* 100-crore equity fund proposed for microfinance companies
* Common Man: 1% interest subvention (subsidy) on home loans up to Rs 15 lakhs. This relief has been extended for another year
* To boost infrastructure development, the Finance Minister proposes tax-free bonds worth Rs 30000 crores
* Allocation for farm development hiked to Rs 7860 crores. Allocation for rural housing fund increased by Rs 1000 crores to Rs 3000 crores
* Priority home loan limit raised to Rs 25 lakhs from Rs 20 lakhs
* Farmers who make prompt repayments will be given agriculture loans at 4%.
* Corpus of rural infrastructure development fund to be raised Rs 180 billion in 2011/12.
* Common Man: Direct cash subsidy for fertilisers, LPG and kerosene soon
* Financial Year 2011-12 divestment target at Rs 40000 crore
* A new fertiliser policy for urea.
* Preparation for rollout of unified Goods and Services tax in final stages.
