Key features of the Budget
Plan allocation to Ministry of Agriculture, increased by 58%.
Rs. 1627 crore for Rural Water Supply to benefit one lakh habitations.
Allocation for Watershed Development Prorgramme increased by 31%.
Allocation for Accelerated Irrigation Benefit Prorgramme increased by 58%.
Marginal increase in the price of urea to protect long term soil health by restoring the balance in the use of nitrogenous, phosphatic and potassic fertilisers.
New model law for agricultural cooperatives to replace the Multi-State Cooperative Societies Act , 1984.
Multi-pronged boost to Rural Credit
Small Scale Industry
Exemption limit for excise enhanced from Rs.30 lakhs to 50 lakhs.
Greater access to bank credit for working capital (20 per cent of annual turnover doubled from Rs.2 crore to Rs.4 crore).
Measures to moderate the cost of bank credit to SSIs.
SIDBI to have greater role in SSI credit provision.
Overhaul of excise administration to cut down "Inspector Raj".
Private Investment in Industry
Burdens imposed by the "Inspector Raj" to be removed.
Dialogue with the State Governments to explore the consolidation of regulatory legislation relating to industry and exchange of best practices across States.
Double the inflow of foreign direct investment within two years.
90 day - time bound clearance of high value foreign investment proposals.
Target of 20 lakhs additional houses, 13 lakhs in rural and 7 lakhs in urban areas.
Rs.1600 crore for Indira Awas Yojana.
Rs.110 crore investment in HUDCO.
Urban Land Ceiling & Regulation Act to be repealed to enhance supply of land.
Liberal tax concessions to promote house building activity
Plan Outlay for Energy Transport and Communications increased by 35% - from Rs.45,252 crore to Rs.61,146 crore.
Government guarantees to convert outstanding dues of about Rs.10,000 crore from SEBs to NTPC, Coal India, etc. into investible funds for financing projects.
National Highways Authority of India to get Rs.500 crore.
Petrol cess of Rs.1 per litre to fund National Highways expansion.
Upto 10% of accretions to Provident Funds being permitted for investment in highly rated private sector securities.
Tax concessions for infrastructure.
Education and Youth
50% increase in budget allocation for Education.
National Reconstruction Corps to mobilise youth for nation building.
Rs.100 crore for free education to girls.
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