Download Union Finance Minister Pranab Mukharjee presented the union

Union Finance Minister Pranab Mukharjee presented the union budget 2012-13 in the
parliament on 16 March 2012. The minister in his budget speech, projected the economic
growth for 2012-13 to be 7.6%.
While the total tax receipts for fiscal year 2012-13 is estimated to be 1077612 crore rupees,
the total budgetary expenditure is projected to be 1490925 crore rupees. Budgetary
allocations for various sectors including education, health, agriculture, defence also received
a reasonable hike.
The highlights of Budget Estimates 2012-13 are presented below:
• Gross Tax Receipts estimated at 1077612 crore rupees.
• Net Tax to Centre estimated at 771071 crore rupees.
• Non-tax Revenue Receipts estimated at 164614 crore rupees.
• Non-debt Capital Receipts estimated at 41650 crore rupees.
• Temporary arrangement to use disinvestment proceeds for capital expenditure in social
sector schemes extended for one more year.
• Total expenditure for 2012-13 budgeted at 1490925 crore rupees.
• Plan expenditure for 2012-13 at 521025 crore rupees is 18 per cent higher than Budget
Estimate of 2011-12. 99 per cent of the total plan outlay met in the Eleventh Plan.
• Non-plan expenditure estimated at 969900 crore rupees.
• 365216 crore rupees estimated to be transferred to States.
• Fiscal deficit at 5.1 per cent of GDP in Budget Estimate 2012-13.
• Net market borrowing required to finance the deficit to be 4.79 lakh crore rupees in 201213.
• Central Government debt at 45.5 per cent of GDP in 2012-13 as compared to Thirteenth
Finance Commission target of 50.5 per cent.
• Effective Revenue Deficit to be 1.8 per cent of GDP in 2012-13.
Union Finance Minister Pranab Mukharjee presented the annual budget for the fiscal year
2012-13 in the parliament on 16 March 2012.
The Union Minister of Finance came up with an increased budgetary allocation for various
sectors including agriculture, rural development, defence etc. While, the Plan Outlay for
Department of Agriculture and Co-operation increased by 18 percent, the target for
agricultural credit raised by 100000 crore rupees to 575000 crore rupees. Budgetary
allocation for rural drinking water and sanitation received a hike of over 27 per cent. Flagship
programmes like Right to Education-Sarva Shiksha Abhiyan received an increase of 21.7 per
cent in the budgetary allocation.
Some of the major allocations made for different sectors of economy are as follows:
Agriculture and Allied Activities
• Budgetary allocation for agriculture and allied activities 2012-13 increased by 18%
• 9217 crore rupees allocated for Rashtriya Krishi Vikas Yojana.
• 1000 crore rupees for Bringing Green Revolution to Eastern India (BGREI) project
• 300 crore rupees to Vidarbha Intensified Irrigation Development Programme under RKVY.
• 200 crore rupees allocated for incentivising research with rewards
• 14242 crore rupees allocated for Accelerated Irrigation Benefit Programme (AIBP)
• 500 crore rupees provided to broaden scope of production of fish to coastal aquaculture
Rural Development
• 14,000 crore rupees allocated for rural drinking water and sanitation
• 24000 crore rupees allocated for Pradhan Mantri Grameen Sadak Yojna
• 12040 crore rupees provided for Backward Regions Grant Fund scheme
• 20,000 crore rupees allocated for Rural Infrastructure Development Fund
• 5000 crore rupees earmarked for creating warehousing facilities
Education
• Sarva Siksha Abhiyan-Right to Education- 25555 crore rupees
• 3124 crore rupees provided for Rashtriya Madhyamik Shiksha Abhiyan (RMSA)
Health
• 20822 crore rupees National Rural Health Mission
Employment and skill development
• 3915 crore rupees provided for National Rural Livelihood Mission
• 1276 crore rupees allocated for Prime Minister’s Employment Generation Programme
• 1000 crore rupees allocated for National Skill Development Fund
Defence and Security
• 193407 crore rupees aallocated for Defence services including 79579crore rupees for capital
expenditure
• 1185 crore rupees to be allocated for construction of nearly 4000 residential quarters for
Central Armed Police Forces
• 3280 crore rupees proposed to be allocated for construction of office building of
CentralArmed Police Forces
Infrastructure and Industrial Development
• 25360 crore rupees allocated for Road Transport and Highways Ministry
• 3884 crore rupees loan waiver for handloom weavers and their cooperative societies
• 500 crore rupees pilot scheme announced for promotion and application of Geo-textile in
the North Eastern Region
• 70 crore rupees allocated to set up a powerloom mega cluster in Ichalkaranji in Maharashtra
• 5000 crore rupees India Opportunities Venture Fund to be set up with SIDBI
• 15888 crore rupees to be provided for capitalisation of public sector banks and financial
institutions
Other major allocations
• 37113 crore rupees allocated for Scheduled Castes Sub Plan
• 21710 crore rupees earmarked for Tribal Sub Plan