India's Finance Minster Pranab Mukherjee has done the presentation of his Budget speech for 2011-12 informing that average inflation will be down next year and that Indian economy is expected to grow at 9% annually. Agriculture sector has recorded a growth of 5.4% while industry has grown by 8.1% in 2010-11.
This will going to alot for commodity market also as many highlights were described and they are as follows:
Highlights:
-Encouraging trends in development of external sector
-Taxes, tariff procudures will be simplified
-To reconcile environment concerns, growth needs
-Current account deficit poses a concern
-13th Finance Commission has worked out fiscal consolidation roapmap
-Agriculture growth at 5.4%, industry at 8.1% in 2010-11
-Self sufficiency in pulses, Rs 300 cr allocated for 60,000 pulses villages to increase production and productivity
-Self-help group fund to empower women
-Task force working on oil subsidy plans
-Rs 600 cr to public sector banks to maintain mandatory CRR
-Liberalisation of FDI policy
-FII allowed to invest in MF schemes
-15 more mega food parks to be promoted
-Goods and Service Tax :significant progess
-Work is underway for states' GST
-High gap between wholesale and retail prices unacceptable
-Top priority for Agricultural productivity-- to promote organic farming, traditional farming and green agriculture
-FY12 Divestment target at Rs 40,000 crore
-FDI regulations consolidated into one comprehensive document
-States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
-Incentives for cold storage, rural godowns
-Agricultural credit limit raised to Rs 4,75,000 crore
-Allocation for farm development increased to Rs 7,860 cr
-Rs 300 crore for allocation of fodder
-New companies bill to be introducedRs 100 cr equity fund for MFIs
-To boost infrastructure- tax-free bonds worth Rs 30,000 cr proposed re
-Special Purpose Vehicles for attracting foreign funds
-To attract foreign funds: Special vehicle to be created
-National Food Security Bill to be introduced
-Metro projects in key cities will get financial assistance
-GoM will consider issues related to environmental conflicts
-To give infra status to cold storage chains-
-Priority home loan limit raised to Rs 25 lakh from Rs 20 lakh
- Health allocation raised to Rs 26760 cr
-Interest rates on agriculture loans reduced
-Self Assessment in customs to be intoduced
-Money laundering cases to be dealt effectively
-Task force will be formed to deal with black money
-To propose National Mission for Hybrid Electric Vehicle
This will going to alot for commodity market also as many highlights were described and they are as follows:
 |
| Commodity Budget 2011-12 |
Highlights:
-Encouraging trends in development of external sector
-Taxes, tariff procudures will be simplified
-To reconcile environment concerns, growth needs
-Current account deficit poses a concern
-13th Finance Commission has worked out fiscal consolidation roapmap
-Agriculture growth at 5.4%, industry at 8.1% in 2010-11
-Self sufficiency in pulses, Rs 300 cr allocated for 60,000 pulses villages to increase production and productivity
-Self-help group fund to empower women
-Task force working on oil subsidy plans
-Rs 600 cr to public sector banks to maintain mandatory CRR
-Liberalisation of FDI policy
-FII allowed to invest in MF schemes
-15 more mega food parks to be promoted
-Goods and Service Tax :significant progess
-Work is underway for states' GST
-High gap between wholesale and retail prices unacceptable
-Top priority for Agricultural productivity-- to promote organic farming, traditional farming and green agriculture
-FY12 Divestment target at Rs 40,000 crore
-FDI regulations consolidated into one comprehensive document
-States to cut down fiscal deficit to 3 percent of Gross State GDP by 2014
-Incentives for cold storage, rural godowns
-Agricultural credit limit raised to Rs 4,75,000 crore
-Allocation for farm development increased to Rs 7,860 cr
-Rs 300 crore for allocation of fodder
-New companies bill to be introducedRs 100 cr equity fund for MFIs
-To boost infrastructure- tax-free bonds worth Rs 30,000 cr proposed re
-Special Purpose Vehicles for attracting foreign funds
-To attract foreign funds: Special vehicle to be created
-National Food Security Bill to be introduced
-Metro projects in key cities will get financial assistance
-GoM will consider issues related to environmental conflicts
-To give infra status to cold storage chains-
-Priority home loan limit raised to Rs 25 lakh from Rs 20 lakh
- Health allocation raised to Rs 26760 cr
-Interest rates on agriculture loans reduced
-Self Assessment in customs to be intoduced
-Money laundering cases to be dealt effectively
-Task force will be formed to deal with black money
-To propose National Mission for Hybrid Electric Vehicle
-Allocation increased for backward region development
-Bill to amend Indian Stamp Act to to be introduced?
-Assistance to N-E states will be doubled
-To provide Rs 200 cr for clean up of lakes
-Rs 200 core for launching environmental programmes
-Pension amount to 80 yrs and above increased from Rs 200 to Rs 500
-Rs 52,057 cr for education sector
-Bill to amend Indian Stamp Act to to be introduced?
-Assistance to N-E states will be doubled
-To provide Rs 200 cr for clean up of lakes
-Rs 200 core for launching environmental programmes
-Pension amount to 80 yrs and above increased from Rs 200 to Rs 500
-Rs 52,057 cr for education sector
