Highlights of the budget for 2011-12 presented by finance minister Pranab Mukherjee in Parliament on Monday:
* Economy back to pre-crisis trajectory.
* Set pace for double digit growth.
* Total food inflaction declined to less than 9 percent in January.
* Could have performed better
* Cur rent account deficit at 2009-10 levels.
* Corruption a problem we have to fight collectively.
* Development needs to be more inclusive.
* Stronger fiscal consolidation needed.
* Setting tone for newer, vibrant economy.
* Economy has shown remarkable resilience to external and internal shocks.
* Women's self-help development panel to be set up.
* FIIs can invest $40 billion in corporate bonds.
* Rs.100 crore equity fund for microfinance companies.
* Mortgage risk guarantee fund to be created for economically weaker sections.
* Housing loan limit for priority sector lending raised to Rs 25 lakh.
* Agriculture growth key to development: Green Revolution waiting to happen in eastern region.
* Growth at 8.75% to 9.25% in 2011-12.
* Bills on insurance, pension funds, banking to be introduced.
* Gap between wholesale and retail prices not acceptable.
* Setting up independent debt management office; public debt management bill to be introduced in parliament.
* Seek Lord Indra's blessings for good monsoon
* Introduction of GST will improve compliance; bill in current session; setting up strong IT network for implementation.
* Expenditure has to be oriented towards production of goods and services.
* Government committed to retaining 51% stake in public sector enterprises.
* FDI policy being liberalised.
* Economy back to pre-crisis trajectory.
* Set pace for double digit growth.
* Total food inflaction declined to less than 9 percent in January.
* Could have performed better
* Cur rent account deficit at 2009-10 levels.
* Corruption a problem we have to fight collectively.
* Development needs to be more inclusive.
* Stronger fiscal consolidation needed.
* Setting tone for newer, vibrant economy.
* Economy has shown remarkable resilience to external and internal shocks.
* Women's self-help development panel to be set up.
* FIIs can invest $40 billion in corporate bonds.
* Rs.100 crore equity fund for microfinance companies.
* Mortgage risk guarantee fund to be created for economically weaker sections.
* Housing loan limit for priority sector lending raised to Rs 25 lakh.
* Agriculture growth key to development: Green Revolution waiting to happen in eastern region.
* Growth at 8.75% to 9.25% in 2011-12.
* Bills on insurance, pension funds, banking to be introduced.
* Gap between wholesale and retail prices not acceptable.
* Setting up independent debt management office; public debt management bill to be introduced in parliament.
* Seek Lord Indra's blessings for good monsoon
* Introduction of GST will improve compliance; bill in current session; setting up strong IT network for implementation.
* Expenditure has to be oriented towards production of goods and services.
* Government committed to retaining 51% stake in public sector enterprises.
* FDI policy being liberalised.
source: Hindusthan Times
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