New Delhi, February 28: Following are the key highlights for the
social sector allocation in the Budget.
-Allocation for social sector increased by 17% to Rs. 1,60,887 crore.
-Allocation for Bharat Nirman programme increased by Rs. 10,000
crore.
-Plan allocation for education hiked by 24% and health by 20%.
-Eligibility for old age pension scheme reduced from 65 years to 60.
– Allocation for infrastructure increased by 23.3% to
Rs. 2,14,000 crore.
-Credit to farmers to be increased to Rs. 4,75,000 crore.
-Fiscal deficit pegged at 4.6% of GDP.
-Government to borrow Rs. 3.43 lakh crore from the market.
-Extension of nutrient based subsidy to cover urea under active
consideration.
-Exemption limit for income tax raised by Rs. 20,000 to
Rs. 1,80,000
-Minimum alternate tax increased from 18 to 18.5%.
-One per cent central excise duty imposed on 130 items.
– Lower rate of excise duty raised from 4 to 5%.
– Service tax hiked on domestic and international air travel.
-Direct taxes code to be effective from April 2012 and implemention
of GST is on course.
-Agencies