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Indira Awas Yojana receives Rs. 11,075 crore

The allocation for rural housing scheme Indira Awas Yojana, primarily meant to provide housing for SC/STs below the poverty line (BPL), was R11,075 crore in the budget. Each BPL family gets Rs. 45,000 as assistance in plains and Rs. 48,500 in hilly areas. HT reports.

More soft cash for hard-off farmers

With easy credit and more time to repay agricultural loans, farmers can continue to reap the financial harvest that was first ushered in by finance minister Pranab Mukherjee's predecessor, P Chidambaram, in the 2005 Budget.

Fund boost for malnutrition schemes

The Budget 2012 is set to boost the fight against child malnutrition as fund allocation for the concerned schemes has been increased by 58%. Moreover, Accredited Social Health Activists (Asha) in each village will be given the additional task of acting as the nodal authority to implement government schemes. HT reports.

20% hike for modernisation

India raised its defence modernisation budget for the next fiscal by 20% to nearly Rs. 80,000 crore on Friday, pushing up the country’s defence spending to Rs. 1,92,407 crore. HT reports. Internal security/ defence

Solar panels, CFL lamps, LED lights set to get cheaper

Finance minister Pranab Mukherjee has doled out some tax concessions for green products and pushed for measures to make agriculture sustainable.

FM vows 5-yr support for J&K training

Finance Minister Pranab Mukherjee on Friday pledged to continue support to an ambitious project for providing skill training to the youth in Jammu and Kashmir that aimed at keeping the youth away from streets. HT reports.

NCTC stuck, Natgrid gets generous dose — Rs. 364 crore

With the National Counter Terrorism Centre (NCTC) stuck following opposition from the Trinamool Congress and NDA-ruled states, the government will go full steam on setting up the National Intelligence Grid (Natgrid).

Lean, mean war machinery should be the objective

Defence Budget provision for 2012-13 is Rs. 1,93,407 crore, up 13.1% from 2011-12, of which 41% is capital and 31% salaries. Defence expenditure has steadily grown from Rs. 85,495 crore in 2006-07.

Now, govt to tax overseas deals

The government  announced in the Budget on Friday that it will empower authorities to tax companies for acquiring assets in India even if the deal is concluded overseas, with retrospective effect from April 1, 1962. HT reports.

FM extends MAT to individuals

Finance minister Pranab Mukherjee on Friday extended the levy of minimum alternate tax to individuals. HT reports.

Tech sector disappointed

The $100-billion IT-BPO sector was left deeply disappointed with the budget announcements made by finance minister Pranab Mukherjee.

Govt proposes Rs. 5,000 cr fund for MSMEs

The government on Friday proposed  setting up of a Rs. 5000 crore India Opportunities Venture Fund with Small Industries Development Bank of India (SIDBI) to enhance the availability of equity to micro, small and medium enterprises (MSMEs).

FM allows high depreciation for power

Finance minister Pranab Mukherjee on Friday proposed an additional depreciation of 20% in the initial year for new assets acquired by power generation companies, but stopped short of offering a blanket extension of the incentive to the industry in general. HT reports.

PSU banks to get Rs. 15,888 cr capital

Finance minister Pranab Mukherjee announced infusion of Rs. 15,888 crore into public sector banks as part of the recapitalisation exercise in 2012-13.

Real estate sops fail to impress firms

The finance minister relaxed borrowing norms for real estate firms and extended the loan subsidy for low-cost affordable houses.
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What do you expect from Budget 2012?

The Budget 2012-13 will be presented on March 16 by the Union finance minister Pranab Mukherjee. Share with us your views and expectations from the finance minister on this year's budget.