Highlights of Union Budget 2011-12 (Part-II)
By ANIMonday, February 28, 2011
NEW DELHI - Union Finance Minister Pranab Minister on Monday presented the Union Budget 2011-12 in the Parliament.
Highlights of Union Budget 2011-12 are as follows:
New Public debt management bill to be introduced in Parliament soon
DTC will be finalised in 2011
Average inflation and current account deficit to be lower and better managed next year
Government in the process of setting up independent debt managing committee within Finance Ministry
Fertilisers from March 2012 in view of large diversion
Government to move towards direct cash transfer of cash subsidy as regards kerosene, LPG and fertilisers from March 2012 in view of large diversion
Government to keep up tempo of disinvestment process
Government will introduce GST Bill in current session
To introduce Public Debt AMC of India Bill in FY12
SEBI registered mutual funds to accept subscription from foreign investors
NRI’s are allowed to invest in mutual funds
Portfolio investment would be permitted in SEBI registered mutual funds from foreign subscriptions
RBI to issue guidelines on banking licesnes this fiscal
One percent interest subvention on home loans upto 15 lakh
Propose to create a women’s self help group with a corpus of Rs 500 crore
To move to direct cash subsidy for fertilisers, kerosene
To raise corpus of rural infrastructure development fund to 180 billion rupees in 2011/12
Housing loan limit raised to 25 lakh for priority sector lending
Interest subvention on housing loans extended by one year
Propose to give Rs 3000 crore to NABARD (ANI)
