Union Budget Review

1366 WordsAug 29, 20126 Pages
UNION BUDGET 2012-2013 ANALYSIS SAJILAL.N.S Roll No: 8, SIES EMBA 2012 CONTENTS Overview of Indian Economy Approach to Budget Key Attributes of 2012-2013 Budget Challenges Going Forward OVER VIEW OF INDIAN ECONOMY The Indian economy had left behind the low-growth track of the early 1980s, following the bold economic reforms initiated in 1991-93. India began to appear as a significant player in the global economy. India’s exports began to climb, its foreign exchange reserves, which for decades had hovered around 5 billion dollars, rose exponentially after the economic reforms and in little more than a decade had risen to 300 billion dollars. Indian corporations that rarely ventured out of India…show more content…
INFRASTRUCTURE AND INDUSTRIAL DEVELOPMENT * More sectors added as eligible sectors for Viability Gap Funding under the scheme “Support to PPP in infrastructure”. * National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 per cent and creating of 10 crore jobs Transport: Roads and Civil Aviation * Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users. * ECB to be permitted for working capital requirement of airline industry for a period of one year, subject to a total ceiling of US $ 1 billion. AGRICULTURE * Plan Outlay for Department of Agriculture and Co-operation increased by 18 per cent. * Increased Outlay for Rashtriya Krishi Vikas Yojana (RKVY). * Increased Outlay for sustaining the BGREI scheme (Bringing Green Revolution to Eastern India (BGREI) which resulted in increased production and productivity of paddy. * Vidarbha Intensified Irrigation Development Programme.INCLUSION * Increased outlay for Scheduled Castes and Tribal Sub Plans. * Food Security- National Food Security Bill, 2011 is before Parliamentary Standing Committee. * Multi-sectoral Nutrition Augmentation Programme - to address maternal and child malnutrition in selected backward districts. EDUCATION * 25,555 crore provided for RTE-SSA representing an increase of 21.7 per cent over 2011-12. * 6,000 schools proposed to be set up at
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