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* Indian economy expected to grow at 9% in 2011-12
* Critical institutional reforms set pace for double-digit growth
* Five-fold strategy to deal with black money. Group of Ministers (GoM) to suggest ways for tackling corruption
* Public Debt Management Agency of India Bill to come up next financial year
* Direct Tax Code (DTC) to be effective from April 01, 2012
* Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted
* Rs 40,000 crore to be raised through disinvestment in 2011-12
* FDI policy to be liberalized further
* SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement
* FII limit raised for investment in corporate bonds in infrastructure sector
* Additional banking license to private sector players proposed
* Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3,000 crore to NABARD
* Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore
* Rs.10,000 crore for NABARD Short Term Rural Credit Fund for 2011-12
* 15 more mega food parks during 2011-12
* National food security bill to be introduced this year
* 23.3% increase in allocation for infrastructure
* Tax-free bonds of Rs.30,000 crore proposed by government undertakings
* Environmental concerns relating to infrastructure projects to be considered by Group of Ministers
* Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation
* Bharat Nirman allocation increased by Rs.10,000 crore
* Allocation for education increased by 24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%
* 1500 institutes of higher learning to be connected by March 2012 with Knowledge Network
* Fiscal deficit kept at 4.6% of GDP for 2011-12
* Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
* Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
* Surcharge on corporates lowered to 5%
India Equity Research Reports, IPO and Stock News
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The Finance Minister, Mr. Pranab Mukherjee unveiled and presented the Union Budget for 2011-12 to the Parliament today. The following are the key highlights of the same:
* GDP estimated to have grown at 8.6% in 2010-11* Indian economy expected to grow at 9% in 2011-12
* Critical institutional reforms set pace for double-digit growth
* Five-fold strategy to deal with black money. Group of Ministers (GoM) to suggest ways for tackling corruption
* Public Debt Management Agency of India Bill to come up next financial year
* Direct Tax Code (DTC) to be effective from April 01, 2012
* Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted
* Rs 40,000 crore to be raised through disinvestment in 2011-12
* FDI policy to be liberalized further
* SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement
* FII limit raised for investment in corporate bonds in infrastructure sector
* Additional banking license to private sector players proposed
* Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3,000 crore to NABARD
* Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore
* Rs.10,000 crore for NABARD Short Term Rural Credit Fund for 2011-12
* 15 more mega food parks during 2011-12
* National food security bill to be introduced this year
* 23.3% increase in allocation for infrastructure
* Tax-free bonds of Rs.30,000 crore proposed by government undertakings
* Environmental concerns relating to infrastructure projects to be considered by Group of Ministers
* Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation
* Bharat Nirman allocation increased by Rs.10,000 crore
* Allocation for education increased by 24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%
* 1500 institutes of higher learning to be connected by March 2012 with Knowledge Network
* Fiscal deficit kept at 4.6% of GDP for 2011-12
* Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
* Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
* Surcharge on corporates lowered to 5%
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