Union Budget 2013-14: Highlight-2

Union Finance Minister P. Chidambaram on Thursday presented the Union Budget for fiscal 2013-14 in Parliament today.

The highlights are as follows:

• Defence gets Rs 2,20,000 crore, 86721 crore for capital expenditure

• Rural housing to get Rs 6000 crore, urban housing Rs 2000 crore

• Two new ports in West Bengal and Andhra Pradesh

• Domestic workers, Anganwadi workers, etc to get group insurance

• 17 per cent hike in education, 22 per cent in agriculture, 46 per cent for rural development

• Tax-free infrastructure bonds of Rs.50,000 crore to be issued

• Gas handling terminal at Dabhol in Maharashtra to be fully operational during 2013-14

• Two new ports to be set up in West Bengal and Andhra Pradesh to ad 100 million tonnes handling capacity

• National Skill Development Corporation to train five crore people in current plan period

• National Livestock Mission to be launched to attract investment and increase fodder production.

• Rs 1000 crore initial capital for a new women's bank which will be another public sector bank.

• 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

• Rs 100 crore in machinery investment can avail an extra 15 per cent exemption over and above existing relaxations

• Rs 25000 crore to be raised from four infrastructure bonds

• Rs 5000 crore to NABARD to build cold storages and godowns

• Inflation indexed bonds and NSCs to be introduced

• Infrastructure Development Funds will be encouraged

• Coal imports to rise to 185 million tonnes from 100 million in four years

• New regulatory authority for road sector

• Rs. 7 lakh crore target fixed for agriculture credit for 2013-14 compared to Rs. 5.75 lakh crore in the current year

• Eastern Indian states to get Rs. 1,000 crore allocation for improving agricultural production

• Rs 1650 crore for new AIIMS-like medical institutes

• Technology upgrade scheme for textile sector to get Rs 2400 crore

• Handloom sector to get an additional Rs 96 crore

• Watershed management to get Rs 5387 crore

• Original Green Revolution states to get Rs 500 crore for crop diversification

• Re-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs. 5,000 crore for Ministry of Small and Medium Enterprises

• Five inland waterways have been declared as national waterways, one more announced in Assam

• Financial Year 2014 plan expenditure at Rs.5.53 lakh crores

• Financial Year 2014 Gender budget has Rs. 97134 crore

• Average growth during UPA-1 was 8 percent; high growth not a novelty

• Current account deficit a worry because of high oil and gold imports

• Will need $75 billion to finance current account deficit

• Need to encourage FDI in consonance with economic priorities

• WPI inflation down to 7 percent; food inflation worrying

• Rs 65000 crore to Ministry of Education, Rs 27257 crore to Sarva Shiksha Avijan

• Rs 33000 crore for MNREGA

• Rs 700000 crore for agricultural credit schemes

• Rs 1000 crore to support increased rice production in Eastern Indian states.

• Rs 9954 crore and Rs 2250 crore for crop diversification under different schemes.

• National Livestock Mission launched with Rs 307 crore

• To allot Rs24598 crore to the tribal sub-plan

• Rs 10000 crore set apart for National Food Security Bill (if passed)

--With ANI Inputs--

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