Budget 2011-2012

Budget 2012-13

1.  TAX

1.1                       Income tax

Category/Tax Rate	NIL	10%	20%	30%
General	Up to 2,00,000	2,00,001 - 5,00,000	5,00,001 - 10,00,000	More than 10,00,000
Ladies	Up to 2,00,000	2,00,001 - 5,00,000	5,00,001 - 10,00,000	More than 10,00,000
Senior citizen 60-80 years	Up to 2,50,000	2,50,001 - 5,00,000	5,00,001 - 10,00,000	More than 10,00,000
Senior citizen More than 80 years	Up to 5,00,000		5,00,001 - 10,00,000	More than 10,00,000

1.2                       Service tax

          12.36% (2% increased)

1.3                       Corporate tax

30% unchanged

1.4                       MAT (Minimum alternative tax)

18.5% (unchanged)

1.5                       Excise duty

12% (2% increased)

1.6                       DTC (Direct Tax Code)

It will be implemented from 2013-14.

1.7                       GST (Goods and Services Tax)

It will be implemented from 2013-14.

1.8                       STT (Securities transaction tax)

It reduced by 20 % on cash delivery transactions (now 0.1%).

2.  Budget’s Deficit

	2011-12	2012-13
Revenue Deficit	4.4%	3.4%
Effective  Revenue Deficit	2.9%	1.8%
Fiscal Deficit	5.9%	5.1%
Primary Deficit	2.8%	1.9%

3.  Budget Allocation

3.1                 Total Expenditure – 1490925 Crore

3.2                 Plan Expenditure – 521025 Crore

3.3                 Interest Payments – 319759 Crore

3.4                 Defence Services – 193407 Crore

3.5                 Subsidies – 190015 Crore

3.6                 Aajeevika (National Rural Livelihood Mission) – 3915 Crore

3.7                 India infrastructure finance corporation limited (IIFCL) – 400 Crore

3.8                 Indira Awaas Yojana – 11075 Crore

3.9                 Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA)- 33000 Crore

3.10             Mid Day Meals – 11937 Crore

3.11             National bank for agriculture and rural development (NABARD)

·         500 Crore for increasing capital of NABARD

·         10000 Crore allocated to NABARD to fund RRB

3.12             Food Security Mission – 1850 Crore

3.13             National Rural Health Mission – 20542 Crore

3.14             Pradhan Mantri Gram Sadak Yojana – 24000 Crore

3.15             Public Sector Banks 14588 Crore

3.16             Railways – 24000 Crore

3.17             Regional Rural Banks – 200 Crore

3.18             Sarva Shiksha Abhiyan  - 25555 Crore

3.19             Rashtriya Krishi Vikas Yojana – 9217 Crore

3.20             Prime Minister’s Employment Generation Programme – 1276 Crore

3.21             Rashtriya Madhyamik Shiksha Abhiyan – 3124 Crore

3.22              Integrated Child Development Services – 15850 Crore

3.23             Rajiv Gandhi Scheme for Empowerment of Adolescent Girls (SABLA) – 750 Crore

3.24             Rajiv Gandhi Grameen Vidyutikaran Yojana – 4900 Crore

3.25             Mars Orbiter Mission – 125 Crore

3.26             Indian Lunar Mission (Chandrayaan - 2) – 82 Crore

3.27             Rajiv Gandhi Panchayat Sashaktikaran Abhiyan – 50 Crore