Finance Minister Pranab Mukherjee presents the Budget 2012. Please find important highlights from IBPS PO exam perspective.
- Economy to grow at 7.6% in 2012/13
- Current account defict to be at 3.6%
- A Rs 15888 crore for capitalisation of govt banks, RRBs, financial institution including Nabard. Banks' stock to get a boost; 10000 crores allocated to NABARD to fund RRBs.
- Plan outlay for agriculture raised by 18% to Rs 20208 crore in FY 13
- Agri credit target for FY 13 seen at Rs 5.75 lakh crore, up 1 lakh crore
- Rs 30,000 cr divestment target in FY 13
- GST to be operational by August 2012
- To allocate Rs 14232 cr to UID project, up 13% in FY 13
- Rural development fund of 20000 crores
- NRHM allocation hiked to 20822 crores
- Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
- Rs 193,407 crore provision made for defence services in 2012-13.
- Rs 3,915 crore to be spent on National Rural Livelihood Mission.
- Rs 1,000 crore to be provided for National Skill Development Corporation in 2012-13
- Integrated Child Development Scheme to be strengthened and restructured with allocation of Rs.15,850 crore.
- FY 2012 Fiscal Deficit at 5.9% of GDP. Estimated for FY 2012 is 5.1% of GDP.
- Direct Taxes - DTC not to be effected from this year.
- Personal Income Tax exemption to be increased from Rs 1.8 lacs to Rs 2 lacs.
- Tax slabs - Upto 2 lacs nil; 2lacs to 5lacs - 10%; 5 lacs - 10 lacs - 20%; above 10 lac - 30%
- Rs 40 crore Aadhar enrollment in year beginning April 2012
- Total expenditure outlay for FY13 at Rs 15 lakh crore
- No Change in Corporate Tax rates.
- Non plan expenditure at Rs 9.7 lakh crore
- Non-plan expenditure Rs 9,69,900 crore in 2012-13; 8.7 per cent higher than current year.
- Net tax receipts of the Centre in 2011-12 stands at Rs 7,71,071 crore.
- Service Tax raised from 10% to 12%.
- ExciseTax raised from 10% to 12%
- Economy to grow at 7.6% in 2012/13
- Current account defict to be at 3.6%
- A Rs 15888 crore for capitalisation of govt banks, RRBs, financial institution including Nabard. Banks' stock to get a boost; 10000 crores allocated to NABARD to fund RRBs.
- Plan outlay for agriculture raised by 18% to Rs 20208 crore in FY 13
- Agri credit target for FY 13 seen at Rs 5.75 lakh crore, up 1 lakh crore
- Rs 30,000 cr divestment target in FY 13
- GST to be operational by August 2012
- To allocate Rs 14232 cr to UID project, up 13% in FY 13
- Rural development fund of 20000 crores
- NRHM allocation hiked to 20822 crores
- Allocated Rs 25,555 cr for Right to Education in FY13; cuts interest rates on loans to women self help groups
- Rs 193,407 crore provision made for defence services in 2012-13.
- Rs 3,915 crore to be spent on National Rural Livelihood Mission.
- Rs 1,000 crore to be provided for National Skill Development Corporation in 2012-13
- Integrated Child Development Scheme to be strengthened and restructured with allocation of Rs.15,850 crore.
- FY 2012 Fiscal Deficit at 5.9% of GDP. Estimated for FY 2012 is 5.1% of GDP.
- Direct Taxes - DTC not to be effected from this year.
- Personal Income Tax exemption to be increased from Rs 1.8 lacs to Rs 2 lacs.
- Tax slabs - Upto 2 lacs nil; 2lacs to 5lacs - 10%; 5 lacs - 10 lacs - 20%; above 10 lac - 30%
- Rs 40 crore Aadhar enrollment in year beginning April 2012
- Total expenditure outlay for FY13 at Rs 15 lakh crore
- No Change in Corporate Tax rates.
- Non plan expenditure at Rs 9.7 lakh crore
- Non-plan expenditure Rs 9,69,900 crore in 2012-13; 8.7 per cent higher than current year.
- Net tax receipts of the Centre in 2011-12 stands at Rs 7,71,071 crore.
- Service Tax raised from 10% to 12%.
- ExciseTax raised from 10% to 12%
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