Union Budget 2011-12 Part I

Union Budget 2011-12 Part I

Highlights of Union Budget 2011-12 announced by Finance Minister Pranab Mukerjee is as follows:


• The year was full of challenges for fiscal consilidation: FM
• Economy set for double-digit growth in coming years
• Growth in 2011 was broad based
• Need to make development more inclusive
• High growth trajectory is our aim
• Food inflation is a big concern
• To reconcile environment concerns, growth needs
• Much needs to be done in rural India
• Need to improve regulatory standards to fight corruption
• Agriculture sector has shown significant rebound
• Don't see resources as a constraint to growth
• Corruption is a problem we have to fight collectively
• Working on simplifying tax rules, trade and tariff norms
• Must ensure that private investment is sustained
• Agriculture growth at 5.4%, industry at 8.1% in 2010-11
• Monetary policy is keeping food inflation in check
• Seen shortcomings in food supply chains
• Recovery in developed nations has taken roots
• Average inflation to be lower next year, current account deficit to be better managed
• Impression of drift in government is misplaced
• Exports up 9.4% in 2010-11
• Laying down fiscal consolidation map for next five years
• DTC to be effective April 1, 2012
• The economy has shown remarkable resilience
• To introduce Public Debt Management Bill in 2012
• States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
• GST rounds with states making considerable progress
• Availability of fertilizers has improved post new policy
• Working on ensuring better delivery for urea, kerosene
• Nutrient based fertilizer policy for urea under consideration
• To move to direct cash subsidy for kerosene, fertilizer
• National Fertilizers up 7%, Rashtriya Chemicals up 4.28%, Coromandel Intl up 4.55%
• Retain divestment target of Rs 400 billion
• Govt committed to retain 51 percent stake in PSUs
• Nifty up by 70 points at 5,368, Sensex near 17,976, up by 275 points
• Task force working on oil subsidy plans
• FII limit in corporate bonds raised to USD 40 billion
• FIIs allowed to invest in MFs; unlisted bonds with minimum lock in period of 3 yrs
• Auto stocks down on profit-booking; Hero Honda down 4%
• To bring legislative amendments for banking licenses this year
• Plan to allow FII limit in infrastructure bonds to USD 25 bn
• Pranab proposes to allocate Rs 60 bn for some PSU banks to help them maintain Tier-I capitalat 8%
• To provide Rs 20 bn for warehousing facilities
• To provide Rs 20 bn for manufacturing facilities
• To bring legislative amendments for banking licenses this year
• Interest subvention of 1% extended from Rs 5 lakh crore to Rs 20 lakh crore
• To provide Rs 50 bn to SIDBI to meet priority lending targets
• Textile Gainers: Spentex, BSL, Abishek industries, Gokuldas, IDFC
• Reality Gainers: HDFC 2.75%, DLF 2%, Unitech 3.2%, LIC Housing Finance 3.8 %
• Reality Gainers: HDFC 2.75 %, DLF 2 %, Unitech 3.2 %, Lic Housing Finance 3.8 %
• To provide Rs 3 bn to improve production of pulses
• Plan to introduce Companies Bill in current session
• Rural housing fund corpus raised to Rs 30 bn vs Rs 20 bn
• Aim to allocate Rs 1 bn to SIDBI for women
• Fertilizers gain as FM says urea policy under consideration
• To set up Mortgage Risk Guarantee fund for rural housing
• Allocation for farm development increased to Rs 7860 cr
• Edible Oil Gainers: KS Oil up 2.24%, Raj oil up 3.45%
• To provide Rs 300 cr for implementing initiatives on vegetables
• TCI to benefit from Govt support for warehousing
• FIIs allowed to invest in 5-year unlisted bonds
• To provide Rs 3 bn to improve oil seed plantations
• PSU banks gains as FM proposes to allocate Rs 60 bn
• BSE FMCG Index up 1.5% on budget announcements
• To infuse Rs 30 bn in NABARD in phased manner
• Rupee up on increase in FII corp bond limit
• Banking gainers: Dewan housing up 4.88%, Federal Bank up 4.47%, IDBI Bank up 1.9%
• Inflation remains principal concern, to fall next yr: FM
• Cold storage projects classified as infrastructure sector
• Rs 3 bn provided to promote pulses cultivation in rain-fed areas, another Rs 3 bn to promote farm product cultivation.

Railway Budget 2011-11

Highlights of Railway Budget 2011-12

• Multi-purpose smart cards for long-distance travel.
• Double-decker AC trains for Ahmedabad-Mumbai, Jaipur-Delhi.
• New trains for states going to the polls.
• Capacity of 107 Mumbai trains to be increased.
• New trains for Vivekananda, Tagore birth anniversaries.
• Mamta announces three new Shatabdhis.
• Mamta announces new Duronto trains.
• 50 per cent concession on fares for media personnel and their families twice a year.
• Concessions for the physically challenged on Rajdhani and Shatabdhi trains
• Senior citizen concessions for women start at age 58 instead of 60.
• Railways will strengthen suburban networks in Kolkata, Ahmedabad, Chennai,
  Bengaluru.
• Suburban networks of Hyderabad and Secunderabad will be improved.
• Proud of my state, will do more for it, says Mamata.
• Kindly continue, Meira Kumar tells Mamata.
• Haven't announced anything major, yet MPs are shouting, complains Mamata.
• Speaker Meira Kumar smiling, waiting for screaming MPs to settle down.
• MPs on their feet, shouting Mamata down.
• 'Poora karne deejiye,' Meira Kumar tells screaming MPs.
• Lalu is speaking, but no one can hear him in the din.
• West Bengal-orientation of Mamata's proposals irk MPs
• Mamata screams back at fellow-MPs. Meira Kumar calls for calm.
• Please sit down, please sit down, please sit down, Meira Kumar tells MPs.
• Kolkata Metro will expand its network.
• Railways will go from strength to strength, says Mamata.
• Revenue will exceed Rs 1 lakh crore, a 9.9 per cent increase over last year's number.
• Kolkata to get 15 new suburban trains.
• 2011 is Green Energy Year for railways, says Mamata.
• Safety measure: All unmanned level crossings will be removed.
• Railways facing money shortage, passing through difficult phase, says Mamata.
• 150th birth anniversary of Rabindranath Tagore: Train will go to Bangladesh on a
  commemorative journey.
• International training centre to come up at Agra.
• Meira Kumar makes a farmaish:' Where are your couplets?'
• 10 year-backlog in recruitment will be addressed right away, says Mamata.
• Elderly workers will be transferred to less strenuous positions.
• Ticket booking charges reduced by 50 per cent.
• Smart card tickets to be introduced.
• Mamata apologises for missed targets. Will do better this year, she promises.
• Railways environment-friendly and fuel-efficient, says Mamata.
• Railways to get help from IITs to develop new technology.
• Trouble-free states can decide what reward projects they want.
• Two extra trains and two new projects for states with no rail roko agitations.
• Rail is 'desh ka service', stop rail roko agitations, urges Mamata.
• Lalu suppresses a yawn as Mamata delivers budget speech.
• Anti-collision device is ready, three zonal railways will commission it soon.
• Fund for social causes will be called PM Rail Vikas Yojana.
• Mamata to set up fund to support social causes.
• Mamata plans gas-based power plant in Maharashtra.
• Questions and shouts distract Mamata, but she resumes her budget speech.
• Mamata on new connections: "If rail connectivity is there, every connectivity will increase in this country."
• Railways to create 10,000 shelters for the poor.
• Mamata plans to raise Rs 10,000 crore from tax-free bonds.
• More than 4 lakh travelled on Izzat tickets, priced at Rs 25.
• Railways' infrastructure will be expanded, says Mamata.
• Nandigram to get railway industrial park.
• Singur in West Bengal to get metro coach factory.
• Track-making centre to come up at Uluberia in West Bengal.
• Economic focus along with social concerns
• Railway Industrial Park to be set up in Nandigram
• 10,000 shelters to be built for homeless
• Manipur to be connected to Rail network for the first time
• Proposal for setting up gas-based power plant in Maharashtra
• Housing units will come up in Mumbai, Sealdah, Siliguri and Tiruchirapalli on pilot basis ...