Highlights of the Budget 2013-14

Finance Minister P Chidambaram on Thursday announced several measures in the Union Budget 2013-14.

• Rs 14,000 crore capital infusion into public sector banks in 2013-14, says FM.
• Rs 5,80,000 crore to states and Union Territories
• Rashtriya Swasthya Bima Yojana to include rickshaw pullers, taxi drivers and ragpickers.
• National Institute of Sports Coaching to be set up in Patiala at a cost of Rs 253 crore.
• Rs 6,000 crore to be allocated for rural housing fund in 2013-14.
• Standing Council of Experts in Ministry of Finance to examine transaction cost of doing business in India
• Financial Sector Legislative Reforms Commission (FSLRC) to submit its report next month, says FM.
• Rs 5400 crore to department of space and Rs 5600 crore to department of atomic energy.
• Defence gets Rs 2,20,000 crore, 86721 crore for capital expenditure.
• National Skill Development Corporation to train 5 crore people in current plan period.
• Rs 11500 crore for backward areas
• All towns of India with a population of over 10000 to have an LIC office
• 17 per cent hike in education, 22 per cent in agriculture, 46 per cent for rural development
• All public sector bank branches will have an ATM
• Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17, says FM.
• Policy on exploration of shale gas on the anvil; natural gas pricing policy will be reviewed and uncertainty removed: FM.
• Govt to set up India's first women's bank as a public sector bank by October, says FM.
• Rs 80194 crore for rural development projects
• Green revolution in east India significant. Rice output increased in Assam, Odisha, Jharkhand and West Bengal; Rs 1,000 crore allocated for eastern states
• Rs 5,387 crore to be allocated for integrated watershed programme for farmers in 2013-14, an increase from Rs 3,050 crore in the current fiscal.
• Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 strictly on capacity to raise funds from the market, says FM
• Rs 5,000 crore will be made available to NABARD to finance construction of godowns and warehouses: FM
• PPP project with Coal India in the pipeline to stem the outflow of forex.
• Rs 500 crore allocated for programme on crop diversification.
• Eastern Indian states to get Rs 1,000 crore allocation for improving agricultural production.
• Rs 7 lakh crore target fixed for agri credit for 2013-14 compared to Rs 5.75 lakh crore in the current year.
• Coal imports to rise to 185 million tonnes from 100 million in four years.
• Inflation indexed bonds and NSCs to be introduced
• Zero custom duty for electrical machinery
• Income level for Rajiv Gandhi Equity Scheme raised by Rs 2 lakh
• First home loan up to Rs 25 lakh will get an additional Rs 1 lakh interest deduction
• Battle against inflation must be fought at all fronts: FM.
• Faced with huge fiscal deficit, I have no choice but to rationalise expenditure: FM
• Plan expenditure in 12th Five Year Plan revised to Rs 14,30,825 crore or 96 per cent of budgeted expenditure
• Budget expenditure is Rs 16,65,297 crore and Plan expenditure Rs 5,55, 322 crore: FM.
• The revised expenditure target is Rs 14,30,825 crore or 96 per cent of Budget estimate for this fiscal. In 2013-14, the budget estimate is Rs 16,65,297 crore
• FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan
• Rs 3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the revised estimates.
• Rs 110 crore to be allocated to the department of disability affairs, says FM.
• Rs 1069 crore allocated to Department of Aryush: FM.
• Rs 13,215 crore to be provided for mid-day meal scheme
• Rs 5,284 crore to various Ministries for scholarships for SC/ST, OBC and minority students
• Medical colleges in six more AIIMS-like institutions to start functioning this year; Rs 1650 crore allocated for the urpose.
• Growth rate under UPA was highest
• India can retain its high growth track
• Economic space constrains due to high fiscal deficit, lower savings and investment and tight monetary policy: FM.
• Need $75 bn to bridge current account deficit
• Average economic growth rate in 11th Plan period is 8 per cent, highest ever in any Plan period: FM.
• Current account deficit is a bigger worry; fuel and gold imports responsible
• Foreign investments must be encouraged.
• Accelerating growth is the main goal.
• Core inflation is down to 4.2 per cent, says the minister. Food inflation remains a worry.
• Need to ratinonalise expenditure.
• We are not unaffected by what happens in the global economy
• Global economic growth slowed from 3.9% in 2011 to 3.2% in 2012
• Only China and Malayasia are the major countries that grew faster than India last year
• Without growth, there will be no inclusiveness and development.