Union Budget 2011-12 Highlights:
· Critical institutional reforms set pace for double-digit growth
· Scaled up flow of resources infuses dynamism in rural economy
· GDP estimated to have grown at 8.6% in 2010-11
· Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year
· Indian economy expected to grow at 9% in 2011-12.
· Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption
· Public Debt Management Agency of India Bill to come up next financial year
· Direct Tax Code (DTC) to be effective from April 01, 2012
· Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted
· Rs.40,000 crore to be raised through disinvestment in 2011-12
· FDI policy to be liberalized further
· SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement
· FII limit for investment in corporate bonds in infrastructure sector raised
· Additional banking license to private sector players proposed
· Rs.6000 crore to be provided in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8% in public sector banks
· Rs.500 crore to be provided to regional rural banks to maintain 9% CRAR
· India Microfinance Equity Fund of Rs.100 crore to be created by SIDBI
· Rs. 500 crore Women SHG Development Fund to be created
· Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3000 crore to NABARD
· Existing housing loan limit enhanced to Rs.25 lakh for dwelling units
· Provision under Rural housing Fund enhanced to Rs.3000 crore
· Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs.7860 crore
· Allocation of Rs.300 crore to promote 60000 pulses villages in rainfed areas
· Rs. 300 crore vegetable initiative to achieve competitive prices
· Rs.300 crore to promote higher production of nutri-cereals
· Rs.300 crore to promote animal based protein
· Rs.300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages
· Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore
· Rs.10,000 crore for NABARD’s Short Term Rural Credit Fund for 2011-12
· 15 more mega food parks during 2011-12
· National food security bill to be introduced this year
· Capital investment in storage capacity to be eligible for viability gap funding
· 23.3% increase in allocation for infrastructure
· Tax-free bonds of Rs.30,000 crore proposed by government undertakings
· Environmental concerns relating to infrastructure projects to be considered by Group of Ministers
· National Mission for Hybrid and Electric Vehicles to be launched
· 7 Mega clusters for leather products to be set up
· Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation
· Bharat Nirman allocation increased by Rs.10,000 crore
· Rural broadband connectivity to all 2.5 lakh panchayats in three years.
· Bill to amend Indian Stamp Act to introduce. Rs.300 crore scheme for modernization stamp and registration administration
· Significant increase in remuneration of Angawadi workers and helpers
· Allocation for education increased by24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyanregistering an increase of 40%
· 1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network.
· National Innovation Council set up. Additional Rs.500 crore for National Skill Development Fund
· Plan allocation for health stepped up by20%
· Indira Gandhi National Old Age Pension Scheme liberalized further
· Rs.200 crore for Green India Mission
· Rs.200 crore for cleaning of rivers
· Rs.8000 crore provided for development needs of J&K
· 10 lakhs Aadhaar(UID) numbers to be generated everyday from 1st October
· Fiscal deficit kept at 4.6% of GDP for 2011-12
· Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
· Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
· Surcharge on corporate lowered to 5%
Highlights of Railway Budget 2011-12
Indian Railways minister Mamataa Banerjee presented her third annual budget for state-run Indian Railways in Parliament on 2011 February 25. Following are highlights from the budget:
* No increase in fares.
* Earnings for 2010-11 set to exceed Rs.1 lakh crore.
* Working expenditure during 2011-12 estimated at Rs.87,000 crore.
* Outlay of Rs.57,630 crore for 2011-12, the highest investment in one year.
* Rs.10,000 crore to be raised through railway bonds.
* Budget combines strong economic focus with inclusion.
* Will develop business-oriented policies to aid industry.
* Happy to announce 85 PPP proposals received; set up single-window system to take these forward.
* Decided to set-up rail-based industries.
* Passing through a difficult phase; 97 percent increase in expenditure in 2010-11 due to implementation of Sixth Pay Commission report.
* Loss of Rs.3,500 crore in 2010-11.
* Ten-year backlog of 1.75 lakh jobs being addressed; 16,000 ex-servicemen to be given jobs in railways.
* Safety first priority; accident rate has come down.
* Anti-collision device, successful in North West Frontier Railway, to be extended to three more zonal railways.
* Railways always been a soft target but law and order a state subject. If railways are blocked in one region, this has a snowballing effect in other parts of the country.
* Will add 180 km of rail lines in 2011-12.
* All-India security helpline set up.
* New Durantos to be run on Allahabad-Mumbai, Pune-Ahmedabad, Sealdah-Puri, Secunderabad-Visakhapatnam, Madurai-Chennai routes, among others.
* Rail linkage to Gujarat from Delhi-Mumbai freight corridor.
* Integrated suburban network to be set up in Mumbai, Chennai, Ahmedabad and other cities; suburban system of Hyderabad to be strengthened.
* Mumbai suburban system's EMU coaches to be increased from nine to 12.
* Pradhan Mantri Rail Vikas Yojna to be launched.
* Industrial park to be set up in Nandigram, West Bengal.
* Railways to set up factory in Jammu and Kashmir.
* To set up Metro coach factory at Singur, West Bengal.
* First coach from Rae Bareli factory to roll out in next three months.
* Work on wagon factory in Orissa to begin after land is acquired.
* Manipur capital Imphal to be soon connected to railway network.
* Centre for excellence in software to be set up at Darjeeling.
* Fund to be created for socially desirable projects.
* Central Organistaion for Project Implemtaiton created; will create accountability for non-performance.
* Work started on two dedicated freight corridors.
* Work on upgrading 442 stations to be completed by March 31.
* Decision to start pilot projects to give shelter to homeless people living along the tracks in Mumbai.
* Multi-purpose smart card to be introduced for all-India travel.
* Airport-like trolleys to be provided at more stations.
* Railways to set up a sports cadre.
* Upgraded class of air conditioned travel to be introduced shortly.
* To adopt modern technology through centres of academic excellence.
* Train to run to Bangladesh to showcase Indian culture.
* Age for senior citizen's concession reduced to 58 from 60.
* Concession for physically handicapped and gallantry award winners for travel in Rajdhani and Shatabdi expresses.
* 50 percent concession for mediapersons with families to be increased from once to twice a year.
First coach from the new rail factory at Rae Bareli to roll out in next three months
Track-machine industry to be set up in Uluberia in West Bengal
A 700 MW gas based power plant to be set up at Thakurli in Maharashtra
Proposal to set up metro coach factory near Singur in West Bengal
Railways to set up a bridge factory in Jammu and Kashmir considering need for large number of bridges on railway projects in the state
Tax-free bonds for 100 billion rupees to be issued by IRFC in 2011/12
Greater thrust on new lines next year
Additional Rs 10,000 crore will be raised through tax free bonds
Propose to set up new railway lines in difficult, underpriviledged areas
Setting up funds for social sector projects
New 700 km rail track to be laid down
Number of trains increased from 16100 last year to 18000 this year
Three more railway zones to have anti-collusion device. This will further reduce the rail accident
Propose to remove all un-manned crossings across the country.
Anti-collision devices to be commissioned in three railway zones including South and South Central soon.
Track-machine industry to be set up in Uluberia in West Bengal.
Rail accident rate declines from 0.29 per cent last year to 0.17 per cent now.
Special incentives for states that run trouble-free railways
Multi-purpose smart card for passengers on travelling long distance to be introduced (ANI)
* No increase in fares.
* Earnings for 2010-11 set to exceed Rs.1 lakh crore.
* Working expenditure during 2011-12 estimated at Rs.87,000 crore.
* Outlay of Rs.57,630 crore for 2011-12, the highest investment in one year.
* Rs.10,000 crore to be raised through railway bonds.
* Budget combines strong economic focus with inclusion.
* Will develop business-oriented policies to aid industry.
* Happy to announce 85 PPP proposals received; set up single-window system to take these forward.
* Decided to set-up rail-based industries.
* Passing through a difficult phase; 97 percent increase in expenditure in 2010-11 due to implementation of Sixth Pay Commission report.
* Loss of Rs.3,500 crore in 2010-11.
* Ten-year backlog of 1.75 lakh jobs being addressed; 16,000 ex-servicemen to be given jobs in railways.
* Safety first priority; accident rate has come down.
* Anti-collision device, successful in North West Frontier Railway, to be extended to three more zonal railways.
* Railways always been a soft target but law and order a state subject. If railways are blocked in one region, this has a snowballing effect in other parts of the country.
* Will add 180 km of rail lines in 2011-12.
* All-India security helpline set up.
* New Durantos to be run on Allahabad-Mumbai, Pune-Ahmedabad, Sealdah-Puri, Secunderabad-Visakhapatnam, Madurai-Chennai routes, among others.
* Rail linkage to Gujarat from Delhi-Mumbai freight corridor.
* Integrated suburban network to be set up in Mumbai, Chennai, Ahmedabad and other cities; suburban system of Hyderabad to be strengthened.
* Mumbai suburban system's EMU coaches to be increased from nine to 12.
* Pradhan Mantri Rail Vikas Yojna to be launched.
* Industrial park to be set up in Nandigram, West Bengal.
* Railways to set up factory in Jammu and Kashmir.
* To set up Metro coach factory at Singur, West Bengal.
* First coach from Rae Bareli factory to roll out in next three months.
* Work on wagon factory in Orissa to begin after land is acquired.
* Manipur capital Imphal to be soon connected to railway network.
* Centre for excellence in software to be set up at Darjeeling.
* Fund to be created for socially desirable projects.
* Central Organistaion for Project Implemtaiton created; will create accountability for non-performance.
* Work started on two dedicated freight corridors.
* Work on upgrading 442 stations to be completed by March 31.
* Decision to start pilot projects to give shelter to homeless people living along the tracks in Mumbai.
* Multi-purpose smart card to be introduced for all-India travel.
* Airport-like trolleys to be provided at more stations.
* Railways to set up a sports cadre.
* Upgraded class of air conditioned travel to be introduced shortly.
* To adopt modern technology through centres of academic excellence.
* Train to run to Bangladesh to showcase Indian culture.
* Age for senior citizen's concession reduced to 58 from 60.
* Concession for physically handicapped and gallantry award winners for travel in Rajdhani and Shatabdi expresses.
* 50 percent concession for mediapersons with families to be increased from once to twice a year.
First coach from the new rail factory at Rae Bareli to roll out in next three months
Track-machine industry to be set up in Uluberia in West Bengal
A 700 MW gas based power plant to be set up at Thakurli in Maharashtra
Proposal to set up metro coach factory near Singur in West Bengal
Railways to set up a bridge factory in Jammu and Kashmir considering need for large number of bridges on railway projects in the state
Tax-free bonds for 100 billion rupees to be issued by IRFC in 2011/12
Greater thrust on new lines next year
Additional Rs 10,000 crore will be raised through tax free bonds
Propose to set up new railway lines in difficult, underpriviledged areas
Setting up funds for social sector projects
New 700 km rail track to be laid down
Number of trains increased from 16100 last year to 18000 this year
Three more railway zones to have anti-collusion device. This will further reduce the rail accident
Propose to remove all un-manned crossings across the country.
Anti-collision devices to be commissioned in three railway zones including South and South Central soon.
Track-machine industry to be set up in Uluberia in West Bengal.
Rail accident rate declines from 0.29 per cent last year to 0.17 per cent now.
Special incentives for states that run trouble-free railways
Multi-purpose smart card for passengers on travelling long distance to be introduced (ANI)
New Trains Proposed in Railway Budget 2011
Nine New Duranto Trains: Allahabad-Mumbai AC Duronto (bi-weekly), Pune-Ahmedabad AC Duronto (tri-weekly), Sealdah-Puri non AC Duronto (tri-weekly), Secunderabad-Visakhapatnam AC Duronto (tri-weekly), Madurai-Chennai AC Duronto (bi-weekly), Chennai-Thiruvananthapuram AC Duronto (bi-weekly), Mumbai Central-New Delhi AC Duronto (bi-weekly), Nizamuddin-Ajmer non-AC Duronto (bi-weekly), Shalimar-Patna Duronto (tri-weekly)The frequency of following Duronto Trains have been increased: Mumbai CST-Howrah Duronto Express from 2 days to 4 days, Mumbai-Ahmedabad Duronto Express from 3 days to daily, Sealdah-New Delhi Duronto Express from 2 days to 5 days, Nagpur-Mumbai CST Duronto Express from 3 days to daily, Howrah-Yesvantpur Duronto Express from 4 days to 5 days
Double-decker AC Trains: Jaipur-Delhi, Ahmedabad-Mumbai
Three New Shatabdi Exp: Pune-Secunderabad, Jaipur-Agra and Ludhiana-Delhi.
New series of Kavi Guru Express & Vivek Express Trains to mark the 150th Birth Anniversary of Rabindranath Tagore & Swami Vivekananda
Kavi Guru Express: Howrah-Azimganj Express (daily), Guwahati-Jaipur Express (weekly), Howrah-Bolpur Express (daily), Howrah-Porbander Express (weekly)
Vivek Express: Dibrugarh-Thiruvananthapuram-Kanniyakumari Express (weekly), Dwarka-Tuticorin Express (weekly), Howrah-Mangalore Express (weekly), Bandra(T)-Jammu Tawi Express (weekly)
Rajya Rani Express to connect state capitals with important cities of those states
Sawantwadi Road-Mumbai Express (daily), Saharsa-Patna Intercity Express (daily), Meerut-Lucknow Intercity Express (daily), Mysore-Bangalore Express (daily), Damoh-Bhopal Intercity Express (daily), Silghat-Dhubri Intercity Express (tri-weekly via Guwahati-Kokrajhar-Jogighopa), Bankura-Howrah Express (tri-weekly), Nilambur Road-Thiruvananthapuram Link Express (daily), Jharsuguda-Bhubaneswar Express (tri-weekly) , Manmad-Mumbai Express (daily) via Nasik
Special Tourist Trains Janam Bhoomi Gaurav:
Howrah-Bolpur-Rajgir (Nalanda)-Pataliputra (Patna)-Varanasi (Sarnath)-Gaya-Howrah
Bangalore-Mysore-Hassan (Space Facility, Belur, Halebid, Shravanbengola)-Hubli-Gadag(Hampi)-Bijapur (Gole Gumbaz)-Bangalore
Chennai-Puduchcheri-Tiruchichirappali-Madurai-Kanniyakumari-Thiruvananthpuram-Ernakulam-Chennai
Mumbai-Ahmedabad-(Lothal)-Bhavnagar (Palitana)-(Alang)-Gir-Diu (Somnath-Veraval)-(Junagarh)-Rajkot-Mumbai
56 New Express Trains: Raebareli-Jaunpur Express (daily), Tirupati-Amravati Express (bi-weekly),Asansol-Gorakhpur Express (weekly), Nagpur-Kolhapur Express (bi-weekly, Malda Town-Digha Express (weekly), Pune-Nanded Express (weekly), Visakhapatnam-Koraput Intercity Express (5 days a week), Howrah-Secunderabad Express (weekly), Mumbai-Chandigarh Express (weekly), Bardhaman-Rampurhat Express (tri-weekly), Bikaner-Delhi Superfast Intercity (daily), Hyderabad-Darbhanga Express (weekly), Howrah-Tirupati Express (weekly), Narsapur-Nagarsol Express (bi-weekly), Puri-Shalimar Express (weekly), Ranchi-Pune Express (bi-weekly), Shalimar-Udaipur Express (weekly), Chennai-Shirdi Express (weekly), Coimbatore-Tuticorin Link Express (daily), Howrah-Mysore Express (weekly), Yesvantpur-Mysore Express (daily), Digha-Visakhapatnam Express (weekly), Mysore-Chennai Express (weekly), Ahmedabad-Yesvantpur AC Express (weekly), Bhavnagar-Kochuvelli Express (weekly), Gorakhpur-Yesvantpur Express (weekly), Bhuj-Dadar Express (bi-weekly), Kolkata-Ajmer Express (weekly), Jabalpur-Indore Intercity Express (tri-weekly), Porbander-Kochuveli Express (weekly),Kolkata-Agra Express (weekly), Lucknow-Bhopal Express (weekly), Varanasi-Singrauli Intercity Express (daily), Nagpur-Bhusawal Express (tri-weekly), Puri-Gandhidham Express (weekly), Howarh-Visakhapatnam Express (weekly), Guwahati-Dimapur Express (daily), Howrah-Darbhanga Express (weekly), Vasco-Velankani Express (weekly), Bilaspur-Ernakulam Superfast (weekly), Digha-Puri Express (weekly), Jodhpur-Delhi Express (bi-weekly), Kharagpur-Viluppuram Express (weekly), Udaipur-Bandra (T) Express (tri-weekly), Purulia-Viluppuram Express (weekly), Asansol-Gonda Express (weekly), Delhi-Puducherry Express (weekly), Asansol-Tatanagar Express (tri-weekly), Indore-Kota Intercity Express (daily), Bhagalpur-Ajmer Express (weekly), Howrah-Jaisalmer Express (weekly), Ernakulam-Bangalore Express (weekly), Mangalore-Palghat Intercity Express (daily), Varanasi-Ahmedabad Express (weekly), Howrah-Nanded Express (weekly), Hardwar-Ramnagar Link Express (tri-weekly)
Passenger services: Delhi- Garhi Harsaru-Farukhnagar Passenger (daily), Kendujhargarh- Bhubaneswar Fast Passenger ( 5 days a week), Koraput- Bolangir-Sambalpur Passenger (daily), Barkakhana- Dehri-on-Sone Passenger(daily), Jodhpur- Hissar Fast Passenger (daily), Tirupati- Guntakal Passenger (daily), Coimbatore- Mettupalayam Passenger (6 days a week), Bhuj- Palanpur Passenger (daily), Silghat- Chaparmukh Passenger (daily), Siliguri-Dinhata Passenger (daily), Abohar - Fazilka passenger (daily) , Bilaspur-Katni Passenger (daily), Raipur - Korba Passenger (daily)
DEMU Trains: Gondia –Ballarshah, Vasai road-Diva, Ratlam-Neemuch, Ratlam-Chittaurgarh, Sealdah – Jangipur, Ahmedabad-Patan, Bangalore Cantt-Bangarpet, Dharmapuri-Bangalore, Marikuppam-Bangarpet, New Jalpaiguri-Balurghat, Falaknuma-Medchhal, Mriyalguda-Nadikudi, Kacheguda-Raichur, Raichur-Gadwal, Radhikapur- New Jalpaiguri, Jalna-Nagarsol, Nizamabad-Secunderabad, Kacheguda-Mriyalguda, Baripada-Bangariposi, Sealdah - Bhagwangola – Lalgola, Kolar-Bangalore, Krishnanagar - Behrampore Court
MEMU Trains: Ranchi-Asansol, Ernakulam - Kollam (via Alappuzha), Vasai Road-Panvel, Bangarpet –Koppam, Falaknuma-Bhongir, Midnapore – Jhargram, Kollam – Nagercoil, Jhargram-Purulia
Extension of Trains: Chhindwara-Gwalior Express to Delhi, Jhansi-Chhindwara Express to Delhi, Udaipur-Gwalior Express to Khajuraho, Solapur- Gadag Express to Hubli, Jabalpur-Nagpur Express to Amravati, Nizamuddin- Bapudham Motihari Express to Muzaffarpur, Jammu Tawi-Sonpur Express to Muzaffarpur, Lucknow- Allahabad Express to Vindhyachal, Chandigarh- Jaipur Garib Rath Express to Ajmer, Indore-Ajmer Express to Jaipur, Lucknow- Saharanpur Express to Chandigarh, Chennai Egmore -Nagore Express to Karaikal, Visakhapatnam-Nizamabad Express to Nanded, Sambalpur- Nizamabad Express to Nanded, Mysore- Shimoga Town Express to Talguppa, Valsad- Vadodara Express to Dahod Surat- Bhavnagar Express to Mahuva, Sultanpur - Ajmer Express to Ahmedabad, Ajmer-Kishanganj Express to New Jalpaiguri, Mumbai-Allahabad Express to Faizabad, Yesvantapur-Mangalore Express to Karwar, Saharanpur- Delhi to Farukh Nagar, Lucknow - Bhopal Express to Pratapgarh, Delhi- Shahjahanpur Passenger to Sitapur Cantt, Moradabad- Chandausi Passenger to Bareilly, Hajipur- Phulwaria Passenger to Bathua Bazar, Hajipur- Thawe Passenger to Kaptanganj, Nagercoil- Thiruvanthapuram Passenger to Kochuvelli, Hyderabad- Wadi Passenger to Gulbarga, Hubli- Bijapur Passenger to Solapur, Nagda- Kota Passenger to Ratlam, Ambala - Una DEMU to Amb Andaura
Increase in Frequency of Trains
New Delhi-Ajmer Shatabdi Express from 6 days to daily, Nagpur- Ahmedabad Express from weekly to bi-weekly, Nizamuddin -Dehradun AC Express from 6 days to daily, Secunderabad -Bikaner Express from weekly to bi-weekly, New Delhi- Dibrugarh Rajdhani Express from 6 days to daily, Jaipur- Pune Express from weekly to bi-weekly, Rourkela- Bhubaneswar Express from 6 days to daily, Bangalore- Hubli Jan Shatabdi Express from 6 days to daily, Habibganj- Jabalpur Jan Shatabdi Express from 6 days to daily, Delhi Sarai Rohilla- Udaipur Chetak Express from 4 days to daily, Indore- Udaipur Express from 3 days to daily, Rajkot- Porbander Express from 3 days to daily, Mumbai CST- Mangalore Express from 3 days to daily, Chennai-Tiruchendur Express from weekly to daily, Surat- Amravati Fast Passenger from 2 days to 3 days, Thiruchchirappalli- Karur Passenger from 6 days to daily, Shoranur- Eranakulam Passenger from 6 days to daily, Ambala - Amritsar DEMU to Kurukshetra.
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