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The Highlights of the Union Budget 2013-14 are as Follows: Total budget expenditure was Estimated at 16.

.65 trillion rupees in 2013-14 India's 2013-14 plan expenditure seen at 5.55 trillion rupees To allocate 801.94 billion rupees to rural development in 2013-14 Plan to allocate 270.49 billion rupees for agriculture in 2013-14 RBI expected GDP growth of 5.5% for Financial Year 2013-14 80194 crore rupees allocation have been made for rural development schemes including MGNAREGA, PMGSY, INDIRA AWAS YOYANA. The Jawaharlal Nehru National Urban Renewal Mission will to continue during the 12th plan period. 3511 crore allocation to minorities which is 12 per cent hike over budget estimates, 110 crore rupees allotted for welfare of disabled. 65867 crore rupees have been allocated to the Ministry of Human resources development which is 17 per cent hike over the re vised estimates. 500 Crore rupees have been earmarked for high tech crop diversification program. Allocations also include 13215 crore rupees for mid day meal programme. 27,049 crore rupees for agricultural ministry and additional 200 crore to women and child Welfare Ministry. 14000 crore Rupees will be provided for PSB recapitalization. He will constitute a panel on transaction costs, and financial policies. Education gets 65867 crore rupees, an increase of 17 percent over RE for 2012-13. ICDS gets 17700 crore rupees. This is 11.7 percent more than the current year. Drinking water and sanitation will receive 15260 crore rupees. 1,400 crore was provided for setting up water purification plants to cover arsenic and fluoride affected rural areas. Health and Family Welfare Ministry had been allotted 37330 crore rupees. Small Industries Development Bank of India (SIDBI) Refinance Fund doubled to an amount of 10000 crore rupees. Plans of Government are to encourage PPP projects along with Coal India. P Chidambaram announced setting up of a new all-women's bank. 1000 crore Rupees initial capital for a new women's bank which will be another public sector bank. The Bank will be set up by October 2013. An amount of additional 10000 crore rupees allotted for Food Security Bill in FY14. 3000 km of road projects will be awarded in first six months of FY14. Finance ministry approved 50000 crore Rupees tax-free bonds in FY14. The government expects to raise 25000 crore rupees via tax-free bonds in FY13. Refinancing capacity of SIDBI raised to Rs. 10,000 crore. Technology Upgradation Fund Scheme (TUFS) for textile to continue in 12th Plan with an investment target of 151000 crore Rupees. 14000 crore Rupees will be provided to public sector banks for capital infusion in 2013-14. A grant of 100 crore each has been made to 4 institutions of excellence including Aligarh Muslim University, Banaras Hindu University, Tata Institute of Social Sciences, Guwahati and Indian National Trust for Art and Cultural Heritage (INTACH). New taxes to yield 18000 crore Rupees. A surcharge of 10 percent on persons (other than companies) whose taxable income exceeds Rs.1 crore have been levied. Tobacco products, SUVs and Mobile Phones to cost more. Relief of Rs. 2000 for the tax payers in the first bracket of 2 to 5 lakhs. Voluntary Compliance Encouragement Scheme launched for recovering service tax dues. 9000 crore Rupees earmarked as the first installment of balance of CST compensations to different States/UTs. Budget in Indian Constitution Budget in Indian Constitution is an annual financial statement. It is included in part V, Chapter 2 of PARLIAMENT Procedure in Financial Matters of Constitution of India. As per the article 112 of Indian Constitution The President shall in respect of every financial year cause to be laid before both the Houses of Parliament a statement of the estimated receipts and expenditure of the Government of India for that year, in this Part referred to as the annual financial statement. (2) The estimates of expenditure embodied in the annual financial statement shall show separately(a) The sums required to meet expenditure described by this Constitution as expenditure charged upon the Consolidated Fund of India; and (b) The sums required to meet other expenditure proposed to be made from the Consolidated Fund of India, and shall distinguish expenditure on revenue account from other expenditure.

Following are the major Higlhlights of the Economic Survey 2012-13 GDP growth seen at 6.1-6.7 percent in 2013/14 Government target for fiscal deficit is 4.8 pct of GDP in 2013/14 Government target for fiscal deficit is 3 pct of GDP in 2016/17 Headline WPI inflation may decline to 6.2-6.6 pct by March2013 Focus on curbing imports, making oil prices more market determined to reign in current account deficit Foreign Institutional Investors (FIIs) flows need to be targeted towards long-term rupee instruments Prioritisation of expenditure seen as key ingredient of credible medium-term fiscal consolidation plan Raising tax to GDP ratio to more than 11 percent seen as critical for sustaining fiscal consolidation Room for accommodative monetary policy with expected fiscal consolidation India likely to meet fiscal deficit target of 5.3 pct of GDP in 2012/13, despite significant shortfall in revenues Recommends curbing gold imports to reign in current account deficit Room to increase exports in the short run limited Industrial output seen growing around 3 pct in 2012/13 Govt priority to fight inflation by reducing fiscal impetus to demand as well as by focusing on incentivizing food production. More jobs in low productivity construction sector Balance of Payments under pressure with net exports decline Service sector has shown more resilience despite global slowdown Pitches for hike in price of diesel and LPG to cut subsidy burden Railway freight grows by 5.1 per cent in 2012-13 Foreign Exchange reserves remains steady at USD 295.6 Billion at December 2012 end. Railway Budget 2013-14 at a Glance: The Thrust of this year Railway Budget was on Safety, Consolidation, Passenger Amenities and Fiscal Discipline. Deployment of new generation energy efficient electric locomotives and EMUs. Five Percent Increase in freight to push Inflation. Elimination of 10797 level crossings during the 12th Plan and no addition of new LCs to the IR system henceforth. Introduction of Train Protection Warning System on Automatic Signalling Systems. Rigorous trials of the indigenously developed Train Collision Avoidance System. Four companies of women RPF personnel set up and another 8 to be set up to strengthen the security of rail passengers, especially women passengers Recruitment to RPF with 10% vacancies reserved for women. No increase in passenger fares 500-km new lines to be completed in 2013-14 Diesel price hike added 3300 crore rupees to fuel bill of Railways Railways hopes to end 2013-14 with a balance of 12506 crore rupees Concessional fare for sportspersons Five fellowships to be announced to motivate students Seek to fill 1.52 lakh vacancies in railways this year. 47000 vacancies for weaker sections and physically challenged to be filled up soon Target of 4000 crore rupees for railway production units in 2014 Induction of e-ticketing through mobile phones, SMS alerts to passengers Free wi-fi facilities in select trains. 60 more 'adarsh' stations The number of passenger trains has increased from 8000 in 2001 to over 12000 in 2012 - yet losses continue to mount. It is estimated to be Rs. 24000 crore in 2012-13 Proposal for setting up of Railway Tariff Regulatory Authority formulated and at inter-ministerial consultation stage. Supplementary charges for super fast trains, reservation fee, clerkage charge, cancellation charge and tatkal charge margin ally increased. Complimentary card passes to Olympic medalist and Dronacharya Awardees for Rajdhani Shatabdi Trains. Announcement Facility and Electronic display boards in train.