BUDGET 2013

by

karthikeyan.s

MEANING:

An estimate of costs,  revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.

In simple words it is ‘An estimate of income and expenditure for a set period of time’.

AGRICULTURE

Rs.500crore allocated for promoting crop diversification.

 No service tax on agricultural testing procedures  Rs.200crore allocated for promoting nutrient-

rich crops Rs.9954crore allocated for Rashtriya Krishi Vikas

in Financial Year 14 To allocate Rs.27,049crore for Agriculture

Ministry

CONTD..;

No change in customs duty on non-agricultural products

Bringing green revolution to eastern India a remarkable success. 1,000crore allocated in 2013-2014.

EDUCATION

Finance Minister said ‘Education for all’ is a priority of the government.

Finance Minister allocated 65867crore in 2013-2014

Education Cess to continue at 3 per centRs.17,700crore allocated for Integrated

Child Development Scheme

CONTD..,

1000crore for skill development of 10 lakh youth to enhance their employability.

SARVA SHIKSHA ABHIYAN- Education for all- Mid day meals programme gets Rs.13215crore.

Thousands of scholarships to be given to SC/ST students, girls

4,727crore for medical education, training and research.

1,650crore allocated for six AIIMS-like institutions.

HEALTH

In budget speech, Finance Minister said .’I propose to allocate rs.37,330crore to the Ministry of health and Family welfare.

The new national health mission that combines the rural mission and the proposed urban mission will get 21239crore.

CONTD..,

The department of AYUSH a total of 1259crore and the department of health research Rs.1008crore.

The department of health and family welfare got he majority share of 33278crore.

PHARMACEUTICAL

No major changes in budget 2013-14 Investment allowance of plant and

machinery is a welcome step and is expected to increase investment in new projects

While simultaneously providing tax benefit to industry.

CONTD..,

The increase in surcharge rates on both income tax as well as dividend distribution tax shall increase the tax outgo.

TEXTILE

The government has ultimately agreed to remove the excise duty on readymade garments which has been imposed two years back.

This removal of excise duty which helps in increasing exports on value added textile chain.

Rs.1000crore has been allocated to all skill development and there is a hope for allocation of readymade garments sector.

CONTD..,

The excise duty of machineries for manufacturing the leather and footwear has lowered down to 7.5 to 5percent.

FINANCE

Bombay stock exchange sensex fell by 291 points to a 3month low post budget.

For women- started women bank and Nirbhaya Fund, named after delhi gangrape victim to empower women.

No revision in income tax slabs 10% is the surcharge imposed to those earnings Rs.1crore in a year.

CONTD..,

Rs.1lakh additional exemptions for up to 25lakhs housing loans.

Gold import duty unchanged.

THANK YOU..!!