GROSS DOMESTIC PRODUCT ESTIMATED TO GROW AT 7.6 %, +/- 0.25 % IN FY12 - 13. AT CURRENT PRICES THE ADVANCE GDP ESTIMATE OF 2011 - 12 IS Rs. 82,80,000 LAKH CR AND AT 2004-05 PRICES Rs. 52,22,000 LAKH CR.
TOTAL SUBSIDES AT Rs. 1,90,015 CR.
FERTILIZER SUBSIDIES AT Rs. 60,974 CR,
FOOD SUBSIDIES AT Rs. 75,000 CR
OIL & PETROL SUBSIDIES AT Rs. 43,580 CR.
FISCAL DEFICIT AT Rs. 5,13,590 CR.
MARKET LOANS = Rs. 4,79,000 CR
STATE PF = Rs. 12,000 CR.
EXTERNAL AID = Rs.10,148 CR.
LESS OTHERS = Rs. 12,442 CR.
THE CENTER'S EXPENDITURE 2012 - 13 IS PROJECTED AT Rs. 14,90,925 Cr.
| IN FLOW (Rs. in Cr) | |
|---|---|
| TAX RECEIPTS | 7,71,071 |
| CORPORATE TAX | 3,73,227 |
| INCOME TAX | 1,95,786 |
| CUSTOMS DUTY | 1,86,694 |
| EXCISE DUTY | 1,94,350 |
| SERVICE TAX | 1,24,000 |
| TAX OF UNION TERRITORY | 2,310 |
| NON TAX RECEIPTS | AMOUNT |
|---|---|
| INTEREST RECEIPTS | 19,231 |
| DIVIDENDS & PROFITS | 50,153 |
| EXTERNAL GRANTS | 2,887 |
| OTHER NON TAX RECEIPTS | 1,207 |
| RECEIPTS OF UNION TERRITORY | 1,136 |
| TOTAL | 74,614 |
| NON DEBT CAPITAL RECEIPTS | 41,650 |
|---|---|
| RECOVERY OF LOANS & ADVANCES | 11,650 |
| MISC. CAPITAL RECEIPTS | 30,000 |
* Out of the Tax Receipts the Center has to keep aside States share of Rs. 3,01,921 cr & for Calamity & Contingency Fund of Rs. 4,620 crs.
| OUT FLOW (Rs. in Cr) | |
|---|---|
| PLAN EXPENDITURE | 5,21,025 |
| NON PLAN EXPENDITURE | 9,69,900 |
| OR | |
| REVENUE EXPENDITURE | 12,86,109 |
| CAPITAL EXPENDITURE | 2,04,816 |
| DEFENCE | 1,93,408 |
| SUBSIDIES | 1,90,015 |
| GRANTS TO STATES & UTs | 64,211 |
| PENSIONS | 63,183 |
| INTEREST PAYMENTS | 3,19,759 |
| LOANS TO PSUs | 465 |
| OTHER GENERAL SERVICES | 21,382 |
| LESS OTHERS | 346 |
| CENTRAL PLAN | 3,03,582 |
| POSTAL DEFICIT | 5,727 |
| EXPENSES of UTs with out Legislature | 3,875 |
| NON PLAN CAPITAL OUTLAY | 23,971 |
| ECONOMIC SERVICES | 24,105 |
| GRANTS TO FOREIGN GOVT. | 3,114 |
| CENTRAL PLAN AID TO STATES | 1,16,985 |
| SOCIAL SERVICES | 20,784 |
| POLICE SERVICE | 35,611 |
SOME MORE POINTS FROM BUDGET
à PSU Banks to get Rs. 15,888 cr in FY13.
à Income Tax exemption limit raised from Rs.180,000 to Rs. 200,000.
à There will be TDS on Buying/Selling of immovable property. TDS of 1 % of the transaction value if transaction value is more than Rs. 50 lakhs in Tire 1 cities or more than Rs. 20 lakh in other cities.
à Proposal to launch Rajiv Gandhi Equity Scheme which allows a deduction of 50 % to new retailers with the lock in of 3 years, who invest uto Rs. 50,000 directly in equities and whose annual income is below Rs. 10 lakhs.
à Priority Home Loans upto Rs. 25 lakhs with 1 % Interest subvention on Home Loans of Rs. 15 lakhs.
à A deduction of upto Rs.5,000 has been allowed on prevention health check up.
à FY12 disinvestment target Rs. 30,000 Crs.
à UID Project allocated Rs. 14,232 Cr..
à To allow Foreign Direct Investments in Corporate Bonds.
à Education sector allocated Rs. 25,555 Cr.
à Security Transaction Tax reduced 20 % from 0.125 % to 0.10 % on all Delivery Cash Transaction.
à Service Tax raised from 10 % to 12 %.
à Custom duty on standard gold bars, coins of purity 99.5 % and Platinum have been hiked from 2 % to 4 % & on non -standard gold from 5 % to 10 %.
à Cash Purchase of Bullion or jewellery in excess of Rs. 2 lakh will be liable to TDS at 1 % .
à FM proposes to reopen assessment upto 16 years for overseas assets to check unaccounted money.
à Minimum Alternate Tax raised from 18 % to 18.5 % of Book profit.
à Two way fungibility in Indian Depository Receipts would be allowed subject to ceiling for greater foreign participation .
à Individual tax payers are allowed a deduction of up to Rs. 10,000 for interest from savings bank account.
