Govt has obtained information in 67 cases of illegal offshore accounts of Indians
A Rs 100 crore scheme formulated to promote community radio stations
Social Justice Ministry gets Rs 6730 crore; Panchayati Raj Ministry Rs 7000 crore, says FM.
140 million people out of poverty, claims the finance minister
RBI must strike a balance between growth and moderating inflation: FM
Rs 2,46,397 crore allocated for food, fertilizer and fuel subsidy.
No change in tax laws, but changes in indirect taxes.
Excise duty cut from 12 to 10 per cent in capital goods sector to stimulate growth.
Excise duty on small cars reduced to 8 per cent
Excise duty on SuVs reduced to 24 per cent.
Appeals all parties to pass tax reforms such as GST
Bankers assure me that as economy turns they can control Non-Performing Assets: FM
I'm disappointed that Insurance Bill not passed by Parliament for reasons nothing to do with the content of the Bill: Chidambaram
We must rebuild our infrastructure. PPP model must be more widely used.
Focus on manufacturing and manufacturing exports.
All taxes for exports should be waived
Subsidies must go only to the most deserving
India to become third largest economy after US and China. Chidambaram created 10 point agenda.
Populist move on student loans. Rs.2,600 crore in interest to be waived on outstanding loans taken by students upto March 31, 2009 Moratorium declared on these loans.
Raghuvir Srinivasan says : Second clue of how fiscal deficit was contained: Rs.35,000 crore of fuel subsidy rolled over the next fiscal year. This is financial engineering.
Ministry of Health and Family Welfare gets Rs. 33,725 cr
Ministry of HRD gets Rs. 67,398 cr
Drinking water and sanitation ministry gets Rs. 15,260 cr; Social Justice and Empowerment gets Rs. 6730 cr
For Ministry of Housing and Poverty Alleviation- Rs. 6000 crore; Rs. 21,000 cr to Ministry of Women and Child Development
Budgetary support to railways has been increased to Rs. 29,000 crore. Railways need to mobilise support through market borrowing
Raghuvir Srinivasan says: Subsidy bill main cause for increase in non-Plan expenditure this fiscal
Government announces one-rank-one-pension scheme for defence personnel from 2015
Rs 2,46, 397 crore for subsidies
Rs. 1,16,000 crore allocated for food subsidy
Defence allocation enhanced by 10 per cent.
Raghuvir Srinivasan: A further allocation of Rs.1,000 crore to the Nirbhaya Fund. Seems to be political move. How was last year's allocation used? No information.
Raghuvir Srinivasan: First hint of how the fiscal deficit was contained Plan expenditure in current fiscal down, says FM though non-plan expenditure overshot target
Eight national manufacturing zones have been approved along the Delhi-Mumbai corridor
Sugar is fully decontrolled, gradual decontrol of diesel prices, discoms, mostly sick, are restructured
Government fully committed to Aadhaar
National Skill development trust to get additonal Rs 1000 crores
Direct Benefit Transfer to be rolled out throughout the country
Seven nuclear power reactors under construction.
Four ultra mega solar pojects to come up under National Solar Mission
Rs. 100 crore as corpus for solar mission.
Govt. has approved National agro-forestry policy
Meanwhile, sensex wipes out inital gains after the budget speech began
Rs 1200 crore additional assistance to NE states, Himachal Pradesh and Uttarakhand.
Health allocation has also been increased
Today we have more than 3.9 lakhs of rural roads
Central govt's expenditure Rs. 79,541 crore on education
The installed power capacity has been augmented.
The UPA's govt's record in growth is unparalleled. We produced 263 mt of foodgrains. 554 million tonne year of coal production.
I can confidently assert that the FD is declining, the CAD is constrained, inflation is moderated; exchange rate is stable
67 per cent population covered under Nation Food Security Act.
Chidambaram narrates India's growth story in 10 years. Rejects the arguments of policy paralysis. How much of it was in UPA II, asks Raghuvir Srinivasan.
Business Editor Raghuvir Srinivasan asks: We have to wait for details on how the FM has managed to keep the fiscal deficit well below his "red-line"?
Govt took the bold step to step up the CCI and the project monitoring group to hasten projects
Agri GDP growth increased to 4% during UPA II; in the current year it is estimated at 4.6%
Manufacturing is India's Achilles heel, says the finance minister
Exports recovery sharp, and imports are down: Chidambaram
Business Editor Raghuvir Srinivasan says: FM manages to keep his promise on fiscal deficit, but at what cost?
$15 billion expected to be added to our foreign exchange reserves by end of this fiscal year.
Fiscal deficit will be contained to 4.6 per cent of GDP.
CAD will be contained to USD 48 billion.
Speaker Meira Kumar appeals to agitating Andhra Pradesh MPs not to disrupt the House. "Please come to my chamber, I will try to sort it out," she says.
FY 2012-13 was the year of turbulence: Chidambaram
Finance Minister presents interim budget; Andhra Pradesh MPs raise slogans.
Parliamentary Affairs Minister Kamal Nath says, "If House is disrupted, Chidambaram can make statement on any TV."
Lok Sabha session begins
This year, of course, there will not be a regular budget, but only a vote on account on February 17.
The purpose of the advance estimate is to give the Finance Minister some insight into the current state of the economy and, therefore, help in the Union Budget formulation.
At a 4.9 per cent rate, the economy would be posting a below 5 per cent growth for the second year in a row.
Union Finance Minister P. Chidambaram will present vote on account at 11 a.m. on Monday