Key Features of Budget 2012-2013
1. Total expenditure for 2012-13 => 14,90,925 crore.
2. Plan expenditure for 2012-13 => 5,21,025 crore is 18 % higher than 2011-12. This is higher than 15 % projected in Approach to the 12th Plan.
3. 99 % of the total plan outlay met in the 11th Plan.
4. Non-plan expenditure => 9,69,900 crore.
5. Fiscal deficit at 5.9 % of GDP in 2011-12.
6. Fiscal deficit at 5.1 % of GDP in 2012-13.
7. Central Government debt at 45.5 % of GDP in 2012-13 as compared to Thirteenth Finance Commission target of 50.5 %.
8. Effective Revenue Deficit to be 1.8 % of GDP in 2012-13.
9. Proposal to allow individual tax payers, a deduction of upto 10,000 for interest from savings bank accounts.
10. Senior citizens not having income from business proposed to be exempted from payment of advance tax.
11. Reduction in securities transaction tax by 20 % on cash delivery transactions.
12. Proposal to extend the levy of Alternate Minimum Tax to all persons, other than companies, claiming profit linked deductions.
13. A net revenue loss of 4,500 crore estimated as a result of Direct Tax proposals.
14. Proposal to tax all services except those in the negative list comprising of 17 heads.
15. Service tax rate increased from 10 % to 12 %.
16. Excise duty to be raised from 10 % to 12 %.
17. Indirect taxes estimated to result in net revenue gain of 45,940 crore.
18. Net gain of 41,440 crore in the Budget due to various taxation proposals.
19. 12th Five Year Plan to be launched with the aim of “faster, sustainable and more inclusive growth”.
20. Current account deficit at 3.6 % of GDP for 2011-12.
21. To keep central subsidies under 2 % of GDP in 2012-13. Over next 3 year, to be further brought down to 1.75 % of GDP.
22. Based on recommendation of task force headed by Shri Nandan Nilekani, a mobile-based Fertilizer Management System has been designed to provide end to end information on movement of fertilisers and subsidies.
23. All three public sector Oil Marketing Companies have launched LPG transparency portals to improve customer service and reduce leakage.
24. Endeavour to scale up and roll out Aadhaar enabled payments for various government schemes in at least 50 districts within next 6 months.
25. DTC Bill to be enacted at the earliest after the report of the Parliamentary Standing Committee may be in August.
26. Drafting of model legislation for the Centre and State GST in concert with States is under progress.
27. GST network to be set up as a National Information Utility and to become operational by August 2012.
28. For 2012-13 => 30,000 crore to be raised through disinvestment. At least 51 % ownership and management control to remain with Government.
29. Efforts to arrive at a broadbased consensus in consultation with the State Governments in respect of decision to allow FDI in multi-brand retail upto 51 %.
30. Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50 % to new retail investors, who invest upto 50,000 directly in equities and whose annual income is below 10 lakh to be introduced. The scheme will have a lock-in period of 3 years.
31. To protect the financial health of Public Sector Banks and Financial Institutions, 15,888 crore proposed to be provided for capitalisation. Possibility of creating a financial holding company to raise resources to meet the capital requirments of PSU Banks under examination.
32. A central “Know Your Customer” depository to be developed in 2012-13 to avoid multiplicity of registration and data upkeep.
33. Out of 73,000 identified habitations that were to be covered under “Swabhimaan” campaigns by March, 2012, about 70,000 habitations have been covered. Rest likely to be covered by March 31, 2012. In 2012-13, “Swabhimaan” campaign to be extended to more habitations.
34. As a next step, Ultra Small Branches are being set up at these habitations.
35. Out of 82 RRBs in India, 81 have successfully migrated to Core Banking Solutions and have also joined the National Electronic Fund Transfer system.
36. Proposal to extend the scheme of capitalisation of weak RRBs by another 2 years to enable States to contribute their share.
37. During 12th Plan period, investment in infrastructure to go up to 50 lakh crore with half of this, expected from private sector.
38. Government has approved guidelines for establishing joint venture companies by defence PSUs in PPP mode.
39. First Infrastructure Debt Fund with an initial size of 8,000 crore launched earlier this month.
40. National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 % and creating of 10 crore jobs.
41. Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users.
42. Proposal to allow foreign airlines to participate upto 49 % in the equity of an air transport undertaking under active consideration of the government.
43. 5,000 crore India Opportunities Venture Fund to be set up with SIDBI.
44. To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.
45. Initiative of Bringing Green Revolution to Eastern India (BGREI) has resulted in increased production and productivity of paddy. Allocation for the scheme increased to 1,000 crore in 2012-13 from 400 crore in 2011-12.
46. 2,242 crore project launched with World Bank assistance to improve productivity in the dairy sector.
47. Target for agricultural credit raised by 1,00,000 crore to 5,75,000 crore in 2012-13.
48. Interest subvention scheme for providing short term crop loans to farmers at 7 % interest per annum to be continued in 2012-13. Additional subvention of 3 % available for prompt paying farmers.
49. Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart card which could be used at ATMs.
50. A new centrally sponsored scheme titled “National Mission on Food Processing” to be started in 2012-13 in co-operation with State Governments.
51. A national information utility for computerisation of PDS is being created. To become operational by December, 2012.
52. Major initiative proposed to strengthen Panchayats through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan.
53. 6,000 schools proposed to be set up at block level as model schools in 12th Plan.
54. To ensure better flow of credit to students, a Credit Guarantee Fund proposed to be set up.
55. No new case of polio reported in last one year.
56. National Urban Health Mission is being launched.
57. Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation of 7 more Government medical colleges.
58. Projects approved by National Skill Development Corporation expected to train 6.2 crore persons at the end of 10 years.
59. 1,000 crore allocated for National Skill Development Fund in 2012-13.
60. “Himayat” scheme introduced in J&K to provide skill training to 1 lakh youth in next 5 years. Entire cost to be borne by Centre.
61. In the ongoing Indira Gandhi National Widow Pension Scheme and Indira Gandhi National Disability Pension Scheme for BPL beneficiaries, pension amount to be raised from `200 to `300 per month.
62. Lump sum grant on the death of primary breadwinner of a BPL family, in the age group 18-64 years, doubled to `20,000.
63. To enhance access under SWAVALAMBAN scheme, LIC appointed as an Aggregator and all Public Sector Banks appointed as Points of Presence (PoP) and Aggregators.
64. Scheme to create National Population Register likely to be completed within next 2 years.
65. Enrolment of 20 crore persons completed under UID mission. Adequate funds to be allocated to complete enrolment of another 40 crore persons.
66. Proposal to lay a White Paper on Black Money in current session of Parliament.
1. Total expenditure for 2012-13 => 14,90,925 crore.
2. Plan expenditure for 2012-13 => 5,21,025 crore is 18 % higher than 2011-12. This is higher than 15 % projected in Approach to the 12th Plan.
3. 99 % of the total plan outlay met in the 11th Plan.
4. Non-plan expenditure => 9,69,900 crore.
5. Fiscal deficit at 5.9 % of GDP in 2011-12.
6. Fiscal deficit at 5.1 % of GDP in 2012-13.
7. Central Government debt at 45.5 % of GDP in 2012-13 as compared to Thirteenth Finance Commission target of 50.5 %.
8. Effective Revenue Deficit to be 1.8 % of GDP in 2012-13.
9. Proposal to allow individual tax payers, a deduction of upto 10,000 for interest from savings bank accounts.
10. Senior citizens not having income from business proposed to be exempted from payment of advance tax.
11. Reduction in securities transaction tax by 20 % on cash delivery transactions.
12. Proposal to extend the levy of Alternate Minimum Tax to all persons, other than companies, claiming profit linked deductions.
13. A net revenue loss of 4,500 crore estimated as a result of Direct Tax proposals.
14. Proposal to tax all services except those in the negative list comprising of 17 heads.
15. Service tax rate increased from 10 % to 12 %.
16. Excise duty to be raised from 10 % to 12 %.
17. Indirect taxes estimated to result in net revenue gain of 45,940 crore.
18. Net gain of 41,440 crore in the Budget due to various taxation proposals.
19. 12th Five Year Plan to be launched with the aim of “faster, sustainable and more inclusive growth”.
20. Current account deficit at 3.6 % of GDP for 2011-12.
21. To keep central subsidies under 2 % of GDP in 2012-13. Over next 3 year, to be further brought down to 1.75 % of GDP.
22. Based on recommendation of task force headed by Shri Nandan Nilekani, a mobile-based Fertilizer Management System has been designed to provide end to end information on movement of fertilisers and subsidies.
23. All three public sector Oil Marketing Companies have launched LPG transparency portals to improve customer service and reduce leakage.
24. Endeavour to scale up and roll out Aadhaar enabled payments for various government schemes in at least 50 districts within next 6 months.
25. DTC Bill to be enacted at the earliest after the report of the Parliamentary Standing Committee may be in August.
26. Drafting of model legislation for the Centre and State GST in concert with States is under progress.
27. GST network to be set up as a National Information Utility and to become operational by August 2012.
28. For 2012-13 => 30,000 crore to be raised through disinvestment. At least 51 % ownership and management control to remain with Government.
29. Efforts to arrive at a broadbased consensus in consultation with the State Governments in respect of decision to allow FDI in multi-brand retail upto 51 %.
30. Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50 % to new retail investors, who invest upto 50,000 directly in equities and whose annual income is below 10 lakh to be introduced. The scheme will have a lock-in period of 3 years.
31. To protect the financial health of Public Sector Banks and Financial Institutions, 15,888 crore proposed to be provided for capitalisation. Possibility of creating a financial holding company to raise resources to meet the capital requirments of PSU Banks under examination.
32. A central “Know Your Customer” depository to be developed in 2012-13 to avoid multiplicity of registration and data upkeep.
33. Out of 73,000 identified habitations that were to be covered under “Swabhimaan” campaigns by March, 2012, about 70,000 habitations have been covered. Rest likely to be covered by March 31, 2012. In 2012-13, “Swabhimaan” campaign to be extended to more habitations.
34. As a next step, Ultra Small Branches are being set up at these habitations.
35. Out of 82 RRBs in India, 81 have successfully migrated to Core Banking Solutions and have also joined the National Electronic Fund Transfer system.
36. Proposal to extend the scheme of capitalisation of weak RRBs by another 2 years to enable States to contribute their share.
37. During 12th Plan period, investment in infrastructure to go up to 50 lakh crore with half of this, expected from private sector.
38. Government has approved guidelines for establishing joint venture companies by defence PSUs in PPP mode.
39. First Infrastructure Debt Fund with an initial size of 8,000 crore launched earlier this month.
40. National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 % and creating of 10 crore jobs.
41. Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users.
42. Proposal to allow foreign airlines to participate upto 49 % in the equity of an air transport undertaking under active consideration of the government.
43. 5,000 crore India Opportunities Venture Fund to be set up with SIDBI.
44. To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.
45. Initiative of Bringing Green Revolution to Eastern India (BGREI) has resulted in increased production and productivity of paddy. Allocation for the scheme increased to 1,000 crore in 2012-13 from 400 crore in 2011-12.
46. 2,242 crore project launched with World Bank assistance to improve productivity in the dairy sector.
47. Target for agricultural credit raised by 1,00,000 crore to 5,75,000 crore in 2012-13.
48. Interest subvention scheme for providing short term crop loans to farmers at 7 % interest per annum to be continued in 2012-13. Additional subvention of 3 % available for prompt paying farmers.
49. Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart card which could be used at ATMs.
50. A new centrally sponsored scheme titled “National Mission on Food Processing” to be started in 2012-13 in co-operation with State Governments.
51. A national information utility for computerisation of PDS is being created. To become operational by December, 2012.
52. Major initiative proposed to strengthen Panchayats through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan.
53. 6,000 schools proposed to be set up at block level as model schools in 12th Plan.
54. To ensure better flow of credit to students, a Credit Guarantee Fund proposed to be set up.
55. No new case of polio reported in last one year.
56. National Urban Health Mission is being launched.
57. Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation of 7 more Government medical colleges.
58. Projects approved by National Skill Development Corporation expected to train 6.2 crore persons at the end of 10 years.
59. 1,000 crore allocated for National Skill Development Fund in 2012-13.
60. “Himayat” scheme introduced in J&K to provide skill training to 1 lakh youth in next 5 years. Entire cost to be borne by Centre.
61. In the ongoing Indira Gandhi National Widow Pension Scheme and Indira Gandhi National Disability Pension Scheme for BPL beneficiaries, pension amount to be raised from `200 to `300 per month.
62. Lump sum grant on the death of primary breadwinner of a BPL family, in the age group 18-64 years, doubled to `20,000.
63. To enhance access under SWAVALAMBAN scheme, LIC appointed as an Aggregator and all Public Sector Banks appointed as Points of Presence (PoP) and Aggregators.
64. Scheme to create National Population Register likely to be completed within next 2 years.
65. Enrolment of 20 crore persons completed under UID mission. Adequate funds to be allocated to complete enrolment of another 40 crore persons.
66. Proposal to lay a White Paper on Black Money in current session of Parliament.
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