2012-13 budget presentation as of 1-4-12 jugunu
TRANSCRIPT
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PRESENTED BY
JUGUNU JEROME
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BUDGET PROFILE
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India Budget
The Union Budget of India also called the general Indiabudget is presented each year on the last working day of march. The budget is presented by the Finance Minister of India in Parliament. Budget is most economic event in thecountry which outlines all the economic planning of theGovernment of India for the next year. It is not onlyimportant for corporates but for individuals from all sections
of the society.
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Origin and History
The first general budget of India was presented by theIndia's first Finance Minister Sir R.K. ShanmughamChetty on November 26, 1947. Since then, 28 UnionFinance Ministers have been presenting the budget
every year. Initially, much attention was given to theagricultural sector but as later on, the focus shifted tothe other sectors including the industrial, financial andother sectors.
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Passing of Budget
The annual India budget has to be passed by the Houseof the parliament before it can come into effect on April 1,the start of India's financial year. The Indian parliament
has one month to review and modify the government'sbudget proposals. If by April 1, the parliamentarydiscussion of the budget has not been completed, thebudget as proposed by the minister of finance goes into
effect and subject to modifications after the parliamentaryreview
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State Level Budget
Each state government maintains its own budget, prepared by the state'sminister of finance in consultation with appropriate officials of thecentral government. Primary control over state finances rests with thestate legislature in the same manner as at the central government level.State finances are supervised by the central government, however,through the Comptroller and the Auditor General of India; the latterreviews State Government accounts annually and reports the findings tothe appropriate state governor for submission to the State's Legislature.The Central and State Budgets consist of a budget for currentexpenditures, known as the budget on revenue account, and a capital
budget for economic and social development expenditures
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Separate Budget for Railway and Postal Department
The Indian Railways, the largest Public-Sector Enterprise,and the Posts and Telegraph Departments have their ownbudgets, funds, and accounts. The appropriations and
disbursements under their budgets are subject to thesame form of parliamentary and audit control as othergovernment revenues and expenditures.
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AREAS OF FOCUSS
AGRICULTURAL & INFRASTRUCTURE
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INTRODUCTION
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NATIONAL MISSION FOR PROTEINSUPPLIMENT
Mission for Protein Supplement is being strengthened.
To improve productivity in the dairy sector, a Rs 2,242crore project is being launched with World Bank assistance.
To broaden the scope of production of fish to coastal
aquaculture, apart from fresh water aquaculture, the
outlay in 2012-13 is being stepped up to Rs 500 crore.
Suitable allocations are also being made for poultry,piggery and goat rearing.
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subsidies
An agricultural subsidy is a governmental subsidy
paid to farmers and agribusinesses to supplement
their income, manage the supply of agriculturalcommodities, and influence the cost and supply of
such commodities.
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Nutrient Based Subsidy (NBS) has improved theavailability of fertiliser.
Government to move towards direct transfer of cashsubsidy to people living below poverty line in aphased manner for better delivery of kerosene, LPGand fertilisers.
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infrastructure
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INTRODUCTION
Lack of adequate infrastructure is a major constraint on
our growth. The strategy we have followed so far is to
increase investment in infrastructure through a
combination of Public Private Partnership.
2012-2013 Union Budget is a blessing to the
infrastructural sector.
Infrastructural sector will get a big boost with Rs.50 lakh
crore investment announcement.
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Cont……….
Government also increased allocation of Rs.25,360 crore
towards the National Highways Development Programme,
an increase of about 14% over the previous year.
It has been decided to make irrigation, terminal markets,common infrastructure in agricultural markets, soil testing
laboratories and capital investment in fertilizer sector
eligible for Viability Gap Funding.
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cont……….
The government has approved guidelines for establishing
joint venture companies by defence public sector
undertakings in PPP mode.
It has announced the setting up of infrastructure debtfunds to tap the overseas markets for long tenor pension
and insurance funds.
Tax free bonds for Rs. 30,000 crore were announced for
financing infrastructure projects.
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Public private partnership
Public-private partnership (PPP) describes agovernment service or private business venture
which is funded and operated through a partnershipof government and one or more private sectorcompanies
in which the private party provides a public serviceor project and assumes substantial financial,
technical and operational risk in the project.
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EFFECTS AFTER BUDGET 2012-2013
CUTTING SMALL BUSINESS TAX RATES
GROWTH OF THE INDUSTRIES
INFRASTRUCTURAL CHANGES
EXEMPTIONS CERTAIN PREVIOUS TAXES
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AFTER BUDGET 2012-2013
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Railway staff seek hike in budgetary supportThousands of railway employees marched to Parliament,demanding adequate budgetary support from thegovernment to save the fund-starved national transporter.
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How Budget 2012 enhances yoursavings kitty
Despite the new tax slabs, don't look for ways to splurge as you may end up spendingmore on your bills due to the hike in service
taxes and duties.
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Rajasthan ‘janta’ feels budget ‘aam’,
Pranab fails to woo Contrary to the optimism that the Union
Budget 2012-13 will reach out to the
common man and the annual exercise willhave something in favour of industry,finance minister Pranab Mukherjee seems
to have failed to please either of theconstituents.
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Economic Survey: ‘Cautious’ Basu sees growth
over 2-yr period Failure to roll out reforms and the sovereign debt crisisin Europe hurt economic expansion in the current fiscal but it is expected to rebound in the next two years, the
finance ministry ’s chief economic advisor Kaushik Basu
said on Thursday.
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2012-13 Budget
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Thankssssssssssssssssssss
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