UNION BUDGET 2011 - 12 : HIGHLIGHTS

GROSS DOMESTIC PRODUCT ESTIMATES IN FY12 ARE  Rs. 71,57,000 LAKH CR AND AT 2004-05 PRICES 48,86,000 LAKH CR.

TOTAL SUBSIDES AT Rs. 1.43 LAKH CR.

FERTILIZER SUBSIDIES AT  Rs. 50,000 CR,
FOOD SUBSIDIES AT  Rs. 60,500 CR
OIL & PETROL SUBSIDIES AT  Rs. 23,600 CR.

FISCAL DEFICIT AT Rs. 4,12,817 CR.

MARKET LOANS = Rs. 3,43,000 CR

STATE PF = Rs. 10,000 CR.
EXTERNAL AID = Rs.14,500 CR.

LESS OTHERS = Rs. 13,866 CR.
THE CENTER'S EXPENDITURE 2011 - 12 IS PROJECTED AT Rs. 12,57,729 Cr.

IN FLOW (Rs. in Cr)
TAX RECEIPTS	6,64,457
CORPORATE TAX	3,59,990
INCOME TAX	1,72,026
CUSTOMS DUTY	1,51,700
EXCISE DUTY	1,64,116
SERVICE TAX	82,000
TAX OF UNION TERRITORY	1,973

NON TAX RECEIPTS	AMOUNT
INTEREST RECEIPTS	19,578
DIVIDENDS & PROFITS	42,624
EXTERNAL GRANTS	2,173
OTHER NON TAX RECEIPTS	59,891
RECEIPTS OF UNION TERRITORY	1,169
TOTAL	1,25,435

NON DEBT CAPITAL RECEIPTS	55,020
RECOVERY OF LOANS & ADVANCES	15,020
MISC. CAPITAL RECEIPTS	40,000

* Out of the Tax Receipts the Centre has to keep aside States share of Rs. 2,63,458 cr & for Calamity & Contingency Fund of Rs. 4,525 crs.

OUT FLOW (Rs. in Cr)
PLAN EXPENDITURE	4,41,547
NON PLAN EXPENDITURE	8,16,182
OR
REVENUE EXPENDITURE	10,97,162
CAPITAL EXPENDITURE	1,60,567
DEFENCE	1,64,415
SUBSIDIES	1,43,570
GRANTS TO STATES & UTs	66,311
PENSIONS	54,521
INTEREST PAYMENTS	2,67,986
LOANS TO PSUs	496
OTHER GENERAL SERVICES	19,105
LESS OTHERS	368
CENTRAL PLAN	3,35,521
POSTAL DEFICIT	5,018
EXPENSES of UTs with out Legislature	3,592
NON PLAN CAPITAL OUTLAY	13,212
ECONOMIC SERVICES	25,391
GRANTS TO FOREIGN GOVT.	2,301
CENTRAL PLAN AID TO STATES	1,06,026
SOCIAL SERVICES	20,862
POLICE SERVICE	29,685

SOME MORE POINTS FROM BUDGET

à    PSU Banks to get Rs. 20157 cr in FY12.

à    Priority Home Loans up from Rs. 20 lakhs to Rs. 25 lakhs.

à    1 % Interest subvention on Home Loans of Rs. 15 lakhs.

à    FY12 disinvestment target Rs. 40,000 crs.

à    Equity Fund of Rs. 100 cr for Micro finance companies.

à    Farm GDP was 5.4 % in FY11 in GDP growth of 8.6 %.

à    To give 3 % Interest subsidy to farmers on early payment of loans.

à    To allow Foreign Direct Investments in Mutual Funds.

à    Cold Storage Chains will be given Infrastructure status.

à    Exemption of Rs. 20,000 on investment in Infra bonds continued for 1 more year.

à    Tax free bonds of Rs. 30,000 cr for Infrastructure sectors to be declared.

à    Rural infra bonds of Rs. 18,000 cr to be declared.

à    Social Schemes allocate Rs. 58,000 crs.

à    Education sector allocated Rs. 52,057 cr up by 24 % in FY12.

à    Corporate surcharge reduced from 7.5 % to 5 %.

à    Dividend from foreign subsidiary to Indian companies down from 30 % to 15 %.

à    Minimum Alternate Tax raised from 18 % to 18.5 % of Book profit.

à    Developer of SEZ & SEZ operators, LLPs brought under MAT.

à    Ship owners allowed duty free import on spare parts.

à    Custom duty on imports of Micro irrigation systems down from 7.4 % to 5 %.

à    10 % Excise duty on Branded garments

à    20 % Ad volerm export duty on Iron ore.

à    NO Excise duty on Ultra Mega Power Projects equipments.

à    Air Conditioner restaurants serving liquor, hotels charging Rs.1000/day will attract Service Tax.

à    Service Tax on Domestic Air tickets Rs. 50, & on international tickets Rs.250