Finance
Minister P Chidambaram is presenting the Union Budget 2013-14 in the
Lok Sabha.The
Union
Budget for 2013-14
aims
at higher growth rate leading to inclusive and sustainable
development as ‘mool mantra’. Finance Minister makes three
promises: to women, youth and the poor. Nirbhaya Fund to empower
women and to keep them safe and secure.
Important
Highlights of union budget 2013-14
- Proposal to set up India’s first Women’s Bank as a public sector bank.
- Rs.1,000 crore for skill development of ten lakhs youth to enhance their employability and productivity.
- Direct Benefit Transfer (DBT) Scheme to be rolled out throughout the country during the term of UPA Government.
- Relief of Rs 2,000 for tax payers in tax bracket of Rs 2-5 lakh
- 10 pc surcharge on persons with taxable income of over Rs 1 crore
- Income limit under Rajiv Gandhi Equity Savings Scheme raised to 12 lakh from Rs 10 lakh
- Fiscal deficit for 2013-14 pegged at 4.8 pc of GDP and 5.2 per cent in 2012-13
- Plan expenditure pegged at Rs 5,55,322 crore and non-Plan at Rs 11,09,975 crore
- New taxes to collect Rs 18,000 crore for government
- Rs 14,000 crore earmarked for capital infusion in public sector banks in 2013-14
- Defence allocation at Rs 203,672 crore, education Rs 65,867 crore and Rural Development Ministry Rs 80,194 cr
- Mid-Day Meal Scheme (MDM) to get Rs 13,215 crore
- Excise duty on SUVs increased to 30 per cent from 27 per cent
- Education gets Rs.65,867 crore, an increase of 17% over RE for 2012-13.
- Rs.14,000 crore will be provided to public sector banks for capital infusion in 2013-14.
- Securities Transaction Tax brought down to 0.01 per cent
- TUF Scheme for textile sector to continue in 12th Plan with an investment of Rs 1.51 lakh crore
- Refinance capacity of SIDBI raised to Rs 10,000 crore
- First home loan from a bank or housing finance corporation upto Rs.25 lakh entitled to additional deduction of interest upto Rs.1 lakh.Railway Minister Pawan Bansal has announced the Union Railway Budget for 2013-14 in Parliament.
Important
Highlights of railway budget 2013-14:
- No increase in passenger fares Superfast and Tatkal charges to rise
- Railways will absorb Rs.850 crore on account of no hike in passenger fare
- Annual plan for 2013-14 set at Rs.63,363 crore
- 67 new Express and 26 new passenger trains to run; 8 DEMU services and 5 MEMU services to be introduced; run of 57 trains to be extended; frequency of 24 trains to increase
- 72 additional suburban services in Mumbai and 18 in Kolkata
- Centralized training institute to be set up in Secunderabad
- Seek to fill 1.52 lakh vacancies in railways this year. 47,000 vacancies for weaker sections and physically challenged to be filled up soon
- Labs to test food provided in trains. ISO certification for all rail kitchensInduction of e-ticketing through mobile phones, SMS alerts to passengers
- Next-generation e-ticketing system to improve end user experience. The system will support 7200 users per minute
- Induction of e-ticketing through mobile phones, SMS alerts to passengers
- Free wi-fi facilities in select trains. 60 more 'adarsh' stations
- More ladies specials in metros and a helpline number to be implemented
- By end of 2013-14, 1,500 km of contracts to be awarded for two dedicated rail corridors
- 179 escalators and 400 lifts at A 1 and other select stations
- Wheelchairs and escalators to be made to make stations and trains friendlier for the differently-abled.
- Elimination of over 10,000 level crossings
- Enhancement of the track capacity and the Train Protection Warning System (TPWS)
- Indigenously developed collision avoidance system to be put to trial
- Induction of self-propelled accident relief trains along with fast and reliable disaster management system
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