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| Edited By: DNA Web Team |Source: DNA |Updated: Mar 19, 2018, 04:04 AM IST
Since independence in August 1947, the country has seen 81 budgets, 65 normal annual budgets, 12 interim budgets and four special-occasion budgetary measures, also called mini-budgets.
Following is the Parliament Schedule for February 28, 2013:
LOK SABHA
1. Budget (General) 2013-14
2. Finance Bill, 2013
RAJYA SABHA
1. Budget (General)
Fun facts:
Four Indian finance ministers have made it to the post of Prime Minister:
1. Morarji Desai
2. Chaudhary Charan Singh
3. VP Singh
4. Manmohan Singh
Chidambaram also tabled the Economic Survey 2012-13 yesterday, which projected a growth rate of 6.1 percent to 6.7 percent in fiscal 2013-14.
"Chidambaram’s every step will be under the arc light, but global developments, including those of China, can equally make or break your money," said VK Sharma.
(Head of business, private, broking and wealth management of HDFC Securities)
"We are batting on a sticky wicket."
- P Chidambaram in an interaction with journalists on Wednesday, after the Economic Survey 2013 was tabled in Parliament
From 1947 to 2013
There have been 77 budgets since 1947, of which 12 were interim budgets. Total of 24 finance ministers have presented union budgets.
Interesting fact:
A week before the budget is presented, the employees of the press stay in the ministry and have no means of communicating with the outside world.
Interesting fact:
Jaswant Singh was FM for 13 days.
Finance Minister P Chidambaram has begun presenting the Union Budget 2013-14 in the Lok Sabha.
"My greater worry is the current account deficit", said P Chidambaram in the Parliament.
There is no reason for gloom or pessimism: Chidambaram
Current year's economic growth rate will be below India's potential growth rate of 8 per cent: Finance Minister P Chidambaram.
Budget speech would be simple straightforward and short.
Average economic growth rate in 11th Plan period is 8 per cent, highest ever in any Plan period.
-Chidambaram
"Economic space constrains due to high fiscal deficit, lower savings and investment and tight monetary policy" says Chidambaram.
At 1110 hours, the Sensex is up 121 points at 19,273.86 and the Nifty is up 34 points at 5,831.30.
Finance Minister allocates funds for women and child development.
Total expenditure is 16.6 lakh crore for financial year 2014: FM
"Current account deficit continues to be high due to excessive dependence on oil, coal and gold imports and slowdown in exports".
Highlights of budget for 2013-14 presented in the Lok Sabha by Finance Minister P Chidambaram:
Average growth during UPA-1 was 8 percent; high growth not a novelty.
Current account deficit a worry because of high oil and gold imports.
Will need $75 billion to finance current account deficit.
Need to encourage FDI in consonance with economic priorities.
WPI inflation down to 7 percent; food inflation worrying.
To allot Rs24598 crore to the tribal sub-plan: FM
Financial Year 2014 plan expenditure at Rs5.53 lakh crores: FM
Financial Year 2014 Gender budget has Rs 97134 crore: FM
17% hike in allocation to education: FM
At 1120 hours, the Sensex is up 77 points at 19,229.20 and the Nifty is up 30 points at 5,827.25.
"Single women and widows must be able to live with dignity; WCD has been asked to design schemes," says Chidambaram.
India does not have choice between welcoming and spurning foreign investment; it is an imperative: Chidambaram.
We have brought down headline WPI inflation to 7 per cent and core inflation to 4.2 per cent. Food inflation is worrying: FM
"Plan expenditure in 12th Five Year Plan revised to Rs 14,30,825 crore or 96% of budgeted expenditure"
-Chidambaram
Budget expenditure is Rs 16,65,297 crore and Plan expenditure Rs 5,55, 322 crore: FM
"The revised expenditure target is Rs 14,30,825 crore or 96 per cent of Budget estimate for this fiscal. In 2013-14, the budget estimate is Rs 16,65,297 crore"
"One overarching goal to provide education and skills to youth for securing jobs in the 2013-14."
"FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan."
"Additional sum of Rs 200 crore to Women and Child Welfare Ministry to address issues of vulnerable women"
"Rs3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the revised estimates."
-Chidambaram
Rs 17,700 crore to be allocated for Integrated Child Development Scheme (ICDS): FM
"Food inflation is the most worrisome and we will take all the necessary steps to curb this!"
Murali Jayaraman on Twitter
Rs 13,215 crore to be provided for mid-day meal scheme.
Rs 15,260 crore to be allocated to Ministry of Drinking Water and Sanitation.
Rs 80,194 crore allocation for Ministry of Rural Development in 2013-14. About Rs 33,000 crore for MGNREGA, says FM.
Rs 80,194 crore allocated for rural development schemes.
States which have completed Pradhan Mantri Gramin Sadak Yojana will be eligible for PMGSY-II, others will continue with PMGSY-I.
Rs14,873 crore for JNNURM for urban transportation in 2013-14 against Rs 7,880 crore in the current fiscal, says FM.
Foodgrain production in 2012-13 will be over 250 million tons: FM
Average annual growth rate of agriculture and allied services estimated at 3.6 per cent in 2012-13 when 250 MT foodgrains was produced: FM
"Rs 27,049 crore allocation to the Agriculture Ministry in 2013-14," says FM.
FM promises ease of doing business in India.
At 1140 hours, the Sensex is up 62 points at 19,220.06 and the Nifty is up 15 points at 5,811.95.
Two new ports will be set in Andhra Pradesh and West Bengal.
Rs 7 lakh crore target fixed for agri credit for 2013-14 compared to Rs 5.75 lakh crore in the current year.
Eastern Indian states to get Rs 1,000 crore allocation for improving agricultural production.
Budget highlights:
Foodgrain production during 2013-13 estimated at 250 million tonnes.
Rs.500 crore allocated for promoting crop diversification.
Rs.200 crore allocated for promoting nutrient-rich crops.
Rs.50 crore allocated for farmer-producer organistions.
National Livestock Mission to be launched with allocation of Rs.307 crore.
Hope parliament will pass food security bill; Rs.10,00 crore alloated for initial expenditure on implementation.
Human resource development ministry to get Rs.65,867 crore.
Rs.13,250 crore allocated for midday meals scheme.
Rs.17,700 crore allocated for Integrated Child Development Scheme.
Drinking water and sanitation ministry allocated Rs.15,260 crore.
Allocation of rural development ministry allocation raised by 46 percent to Rs.80,294 crore; Rs.33,000 crore for rural jobs scheme.
Budget expenditure for 2013-14 at Rs.16 lakh 65,297 crore; plan expenditure at 5 lakh 55,224 crore.
Rs.41,000 crore for Scheduled Caste plan.
Rs.97,000 crore for women's development.
Rs.110 crore for department of disabilities.
Rs.37,330 crore for health ministry.
Average growth during UPA-1 was 8 percent; high growth not a novelty.
Current account deficit a worry because of high oil and gold imports.
Will need $75 billion to finance current account deficit.
Need to encourage FDI in consonance with economic priorities.
WPI inflation down to 7 percent; food inflation worrying.
Srinagar to Leh to be connected via a new highway: Chidambaram
Finance Minister P. Chidambaram's son Karti on Thursday said their family was delighted that his father would be presenting the Union Budget for a historic eighth time.
Green revolution in east India significant. Rice output increased in Assam, Odisha, Jharkhand and West Bengal; Rs 1,000 crore allocated for eastern states.
Rs 5,387 crore to be allocated for integrated watershed programme for farmers in 2013-14, an increase from Rs 3,050 crore in the current fiscal.
Indian Institute of Biotechnology will be set up at Ranchi.
Rs 10,000 crore set aside for incremental cost for National Food Security Bill over and above food subsidy.
Four Infrastructure debt fund have been registered.
"Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 strictly on capacity to raise funds from the market," says FM.
#budget2013 @dna apparel park being set up within SITPs. Rs 50 crore to min of textiles for this
— Raj Nambisan (@RajNambisan) February 28, 2013
#budget2013 @dna apparel park being set up within SITPs. Rs 50 crore to min of textiles for this — Raj Nambisan (@RajNambisan) February 28, 2013
India's first woman bank to be introduced.
FM: Home loan exemption limit raised for 2013-2014
@dna #Budget2013 Rs 1000 crore as initial capital for Women bank — Yuga Chaudhari (@Yugac) February 28, 2013
Rajiv Gandhi Equity Scheme will be liberalised to allow first time investor to invest in Mutal Fund and equity.
Banking correspondents will be allowed to sell micro insurance products @dna#budget— Neeraj Thakur (@neerajthakur2) February 28, 2013
Neat! RT @rajnambisan#budget2013 @dna Ragpickers to be insured! — DNA (@DNA) February 28, 2013
"First housing loan up to Rs 25 lakh would get additional deduction of interest of up to Rs 1 lakh in 2013-14," says FM.
#budget2013 @dna 10 lakh insurance claims pending — Beryl Menezes (@berylmenezes) February 28, 2013
Govt to construct power transmission system from Srinagar to Leh at the cost of Rs 1,840 crore, Rs 226 crore provided in current Budget: FM.
#budget2013 @dna Investor with less than 10% = treated as FII. Else FDI — Raj Nambisan (@RajNambisan) February 28, 2013
#budget2013 @dna Waste to energy projects in PPP mode — Beryl Menezes (@berylmenezes) February 28, 2013
India's first women's bank as a public sector bank by October.
#budget2013 @dna Big market moving news: FII entry into currency F&O, dedicated debt segment on bourses.... — Raj Nambisan (@RajNambisan) February 28, 2013
"Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17," says FM.
#budget2013 @dna National skilling target -- 5 crore people to be skilled — Raj Nambisan (@RajNambisan) February 28, 2013
Rs 800 crore for ministry of renewable energy to provide generarion based incentive in wind energy @dna#budget — Neeraj Thakur (@neerajthakur2) February 28, 2013
5 million tons Dabhol LNG import terminal to be operate at full capacity in 2013-14.
Launches National Institute of Coaching in Patiala.
#Budget2013 @dna allocate Rs 6,275 crore to Ministry of Science — promit07 (@promit07) February 28, 2013
Concessional six percent interest on loans to weavers.
To the women of India, we have a collective responsibility to ensure the dignity and safety of women.
Rs 1,000 crore in the Nirbahaya fund to help fight injustice against women.
@dna #Budget2013 face of a woman - to each collective responsibility to ensure dignity of women, says Chidambaram — Yuga Chaudhari (@Yugac) February 28, 2013
Tribal boys given scholarships.
#Budget2013 @dna Rs 1,000 crore for skill development of youth — promit07 (@promit07) February 28, 2013
#Budget2013 @dna Rs 1,000 crore for skill development of youth — promit07 (@promit07) February 28, 2013
All Regional Rural Banks and cooperative banks to be e-linked by this year-end.
Insurance companies will be empowered to open branches in Tier-II cities with approval of IRDA.
"National Housing Bank (NHB) to set up urban housing bank fund and Rs 2,000 crore will be allocated in this regard," says FM.
#budget2013 @dna tamasha breaks loose at announcement of tax proposals — Beryl Menezes (@berylmenezes) February 28, 2013
#Budget2013 @dna Tax Administration Reforms Comm for reviewing tax policies — promit07 (@promit07) February 28, 2013
tax payers in 2-5lakh...propose to provide tax credit of Rs. 2000 @dna — Nitin Shrivastava (@nitinpshri) February 28, 2013
Surcharge of 10% whose taxabale income exceeds Rs 1 crore @dna #Budget2013 — Nupur Anand(@Nupursays) February 28, 2013
At 1220 hours, the Sensex flat at 19,157.56 and the Nifty flat at 5,798.55.
Rashtriya Swasthya Bima Yojana benefit will be extended to rickshaw pullers, auto and taxi drivers and sanitation workers.
Surcharge on those earning above Rs 1 crore
#Budget2013 @dna Education cess of 3% to continue — promit07 (@promit07) February 28, 2013
"Small and medium companies to be allowed to listed on MSME exchange without making a public offer," says FM.
Generation based incentives to wind energy projects reintroduced, Rs 800 crore provided for the purpose to Ministry of New & Renewable Energy.
Constraints will not come in the way for providing additional funds for security of the nation, says FM.
Rs 2,03,672 crore, including Rs 86,741 crore capital expenditure to Defence in 2013-14.
Budget2013: Rich tax on individuals and companies make markets unhappy @dna — Megha Mandavia (@MeghaMandavia) February 28, 2013
10% surcharge on income above Rs 1 crore.
market sinking Nifty down 30pts....@dna — Nitin Shrivastava (@nitinpshri) February 28, 2013
Finance Minister P. Chidambaram proposed a 29.4 percent hike in the plan expenditure for the union budget 2013-14.
STT rates reduced@dna — Nitin Shrivastava (@nitinpshri) February 28, 2013
I believe there is a little bit of Azim Premji in every tax payer: FM — DNA (@DNA) February 28, 2013
11 lakh beneficiaries have received benefit under Direct Benefit Transfer scheme: FM.
Plan expenditure pegged at Rs 555,322 crore.
Non plan expenditure pegged at Rs 11,09,975 crore for 2013-14.
rt @nupursaysLeather products to become cheaper @dna #Budget2013 dnaindia.com/money/commenta… — DNA (@DNA) February 28, 2013
@dna #Budget2013 big relief for electric vehicle manufactures with clarity on policy extention — Yuga Chaudhari (@Yugac) February 28, 2013
Nifty goes below 5800: At 1230 hours, the Sensex is down 48 points at 19,104.14 and the Nifty down 24 points at 5,773.00.
And.. RT @yugac #Budget2013 pay more for Merc, BMW, Audi. — DNA (@DNA) February 28, 2013
RT @rajnambisan Superbikes and yachts costlier! dnaindia.com/money/commenta… — DNA (@DNA) February 28, 2013
Bad news for smokers. RT @nupursaysExcise duty increased to 18% for cigarettes @dna #Budget2013 — DNA (@DNA) February 28, 2013
Service tax on all air-conditioned restaurants.
Exemptions on low cost housing will continue.
Uh oh. RT @priyankasahay@dna Duty on mobile phones to be hiked to 6 pc, smart phones likely to be costlier now! — DNA (@DNA) February 28, 2013
"The Rajiv Gandhi equity saving scheme will be liberalised to enable the first time investor to invest in mutual funds as well as listed shares and she can do so not in one year alone but in three successive years," he said. "The limit for investors wanting to invest in RGESS has been raised from Rs 10 lakh to Rs 12 lakh," he added.
We can be in the top 5 countries by 20-25: FM
We can be a trillion dollar economy by 20-25: FM
In 2011-12, tax-GDP ratio was 5.5 per cent for direct taxes and 4.6 per cent for indirect taxes.
No change in slabs and rate for personal income tax.
Chidamabaram finishes his speech.
Senior member of Opposition, Yashwant Sinha said that the budget tabled by P Chidambaram in Lok Sabha was clever Baazigari.
Images from Bangalore of live session of union budget presented by P Chidambaram on Thursday.
Video: Chidambaram's Finance Budget 2013-14 highlights - Part 1
Video: Chidambaram's Finance Budget 2013-14 highlights - Part 2
Finance Minister has done a commendable job given the challenges faced by economy, says Prime Minister Manmohan Singh on budget.
FM has laid out a roadmap with regard to investments, says PM.
Finance Minister P Chidambaram is all set to present Union Budget . He will be presenting his eighth Budget in Parliament