For our readers we have collected some important point of Budget 2012-13.In coming exams you may find some question from budget under general knowledge section.Hope these point will help you for attempting those questions.
1. Income tax :
Category / Tax Rate 0% 10% 20% 30%
General: Upto 2,00,000 2,00,001 - 5,00,000 5,00,001 - 10,00,000 More than 10,00,000
Ladies: Upto 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: Upto 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: Upto 5,00,000 5,00,001 - 10,00,000 More than 10,00,000
2. Corporate tax: 30% unchanged.
3. Excise duty: 12% (2% increased)
4. Service tax: 12% (2% increased).
5. MAT (Minimum alternative tax): 18.5% (unchanged)
6. Direct Tax Code (DTC) will be implemented from 2013-14.
7. Goods and Services Tax (GST) will be implemented from 2013-14.
8. Reduction in Securities transaction tax (STT) by 20 % on cash delivery transactions (now 0.1%).
9. Proposal to tax all services except those in the negative list comprising of 17 heads.
10. Fiscal Deficit for 2011-12 = 5.9% and for 2012-13 = 5-1%
11. Total Expenditure : 1490925crores
12. Plan Expenditure : 521025crores
14. Defence Services : 193407crores
15. Subsidies : 190015crores
16. Aajeevika (National Rural Livelihood Mission) : 3915crores.
17. India infrastructure finance corporation limited (IIFCL) : 400crores.
18. Indira Awaas Yojana : 11075crores.
19. Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA): 33000crores
20. Mid Day Meals: 11937.
21. National bank for agriculture and rural development (NABARD) : 500 for increasing capital of NABARD and 10000 allocated to NABARD to fund RRB.
22. National Food Security Mission : 1850crores.
23. National Rural Health Mission : 20542crores.
24. Pradhan Mantri Gram Sadak Yojana : 24000crores.
25. Public Sector Banks: 14588crores.
26. Railways : 24000crores.
27. Regional Rural Banks : 200crores.
28. Sarva Shiksha Abhiyan: 25555crores.
29. Current account deficit at 3.6 % of GDP for 2011-12.
30. To keep central subsidies under 2 % of GDP in 2012-13. Over next 3 year, to be further brought down to 1.75 % of GDP.
31. Based on recommendation of task force headed by Shri Nandan Nilekani, a mobile-based Fertilizer Management System has been designed to provide end to end information on movement of fertilisers and subsidies.
32. Endeavour to scale up and roll out Aadhaar enabled payments for various government schemes in at least 50 districts within next 6 months.
33. For 2012-13 => 30,000 crore to be raised through disinvestment. At least 51 % ownership and management control to remain with Government.
34. Efforts to arrive at a broad based consensus in consultation with the State Governments in respect of decision to allow FDI in multi-brand retail upto 51 %.
35. Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50 % to new retail investors, who invest upto 50,000 directly in equities and whose annual income is below 10 lakh to be introduced. The scheme will have a lock-in period of 3 years.
36. A central “Know Your Customer” depository to be developed in 2012-13 to avoid multiplicity of registration and data upkeep.
37. Out of 73,000 identified habitations that were to be covered under “Swabhimaan” campaigns by March, 2012, about 70,000 habitations have been covered. Rest likely to be covered by March 31, 2012. In 2012-13, “Swabhimaan” campaign to be extended to more habitations.
38. As a next step, Ultra Small Branches are being set up at these habitations.
39. Out of 82 RRBs in India, 81 have successfully migrated to Core Banking Solutions and have also joined the National Electronic Fund Transfer system.
40. First Infrastructure Debt Fund with an initial size of 8,000 crore launched earlier this month.
41. National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 % and creating of 10 crore jobs.
42. Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users.
43. 5,000 crore India Opportunities Venture Fund to be set up with SIDBI. GK & Current Affairs IBPS PO Exam 2012
44. To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.
45. Initiative of Bringing Green Revolution to Eastern India (BGREI) has resulted in increased production and productivity of paddy. Allocation for the scheme increased to 1,000 crore in 2012-13 from 400 crore in 2011-12.
46. 2,242 crore project launched with World Bank assistance to improve productivity in the dairy sector.
47. Target for agricultural credit raised by 1,00,000 crore to 5,75,000 crore in 2012-13.
48. Interest subvention scheme for providing short term crop loans to farmers at 7 % interest per annum to be continued in 2012-13. Additional subvention of 3 % available for prompt paying farmers.
49. Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart card which could be used at ATMs.
50. A national information utility for computerisation of PDS is being created. To become operational by December, 2012.
51. Major initiative proposed to strengthen Panchayats through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan.
52. 6,000 schools proposed to be set up at block level as model schools in 12th Plan.
53. National Urban Health Mission is being launched.
54. Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation of 7 more Government medical colleges.
55. Projects approved by National Skill Development Corporation expected to train 6.2 crore persons at the end of 10 years.
56. 1,000 crore allocated for National Skill Development Fund in 2012-13.
57. “Himayat” scheme introduced in J&K to provide skill training to 1 lakh youth in next 5 years. Entire cost to be borne by Centre.
58. In the ongoing Indira Gandhi National Widow Pension Scheme and Indira Gandhi National Disability Pension Scheme for BPL beneficiaries, pension amount to be raised from 200 to300 per month.
59. Scheme to create National Population Register likely to be completed within next 2 years.
60. Enrolment of 20 crore persons completed under UID mission. Adequate funds to be allocated to complete enrolment of another 40 crore persons.
For any query or doubt please leave your comment below.
1. Income tax :
Category / Tax Rate 0% 10% 20% 30%
General: Upto 2,00,000 2,00,001 - 5,00,000 5,00,001 - 10,00,000 More than 10,00,000
Ladies: Upto 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: Upto 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: Upto 5,00,000 5,00,001 - 10,00,000 More than 10,00,000
2. Corporate tax: 30% unchanged.
3. Excise duty: 12% (2% increased)
4. Service tax: 12% (2% increased).
5. MAT (Minimum alternative tax): 18.5% (unchanged)
6. Direct Tax Code (DTC) will be implemented from 2013-14.
7. Goods and Services Tax (GST) will be implemented from 2013-14.
8. Reduction in Securities transaction tax (STT) by 20 % on cash delivery transactions (now 0.1%).
9. Proposal to tax all services except those in the negative list comprising of 17 heads.
10. Fiscal Deficit for 2011-12 = 5.9% and for 2012-13 = 5-1%
11. Total Expenditure : 1490925crores
12. Plan Expenditure : 521025crores
13. Interest Payments : 319759crores
14. Defence Services : 193407crores
15. Subsidies : 190015crores
16. Aajeevika (National Rural Livelihood Mission) : 3915crores.
17. India infrastructure finance corporation limited (IIFCL) : 400crores.
18. Indira Awaas Yojana : 11075crores.
19. Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA): 33000crores
20. Mid Day Meals: 11937.
21. National bank for agriculture and rural development (NABARD) : 500 for increasing capital of NABARD and 10000 allocated to NABARD to fund RRB.
22. National Food Security Mission : 1850crores.
23. National Rural Health Mission : 20542crores.
24. Pradhan Mantri Gram Sadak Yojana : 24000crores.
25. Public Sector Banks: 14588crores.
26. Railways : 24000crores.
27. Regional Rural Banks : 200crores.
28. Sarva Shiksha Abhiyan: 25555crores.
29. Current account deficit at 3.6 % of GDP for 2011-12.
30. To keep central subsidies under 2 % of GDP in 2012-13. Over next 3 year, to be further brought down to 1.75 % of GDP.
31. Based on recommendation of task force headed by Shri Nandan Nilekani, a mobile-based Fertilizer Management System has been designed to provide end to end information on movement of fertilisers and subsidies.
32. Endeavour to scale up and roll out Aadhaar enabled payments for various government schemes in at least 50 districts within next 6 months.
33. For 2012-13 => 30,000 crore to be raised through disinvestment. At least 51 % ownership and management control to remain with Government.
34. Efforts to arrive at a broad based consensus in consultation with the State Governments in respect of decision to allow FDI in multi-brand retail upto 51 %.
35. Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50 % to new retail investors, who invest upto 50,000 directly in equities and whose annual income is below 10 lakh to be introduced. The scheme will have a lock-in period of 3 years.
36. A central “Know Your Customer” depository to be developed in 2012-13 to avoid multiplicity of registration and data upkeep.
37. Out of 73,000 identified habitations that were to be covered under “Swabhimaan” campaigns by March, 2012, about 70,000 habitations have been covered. Rest likely to be covered by March 31, 2012. In 2012-13, “Swabhimaan” campaign to be extended to more habitations.
38. As a next step, Ultra Small Branches are being set up at these habitations.
39. Out of 82 RRBs in India, 81 have successfully migrated to Core Banking Solutions and have also joined the National Electronic Fund Transfer system.
40. First Infrastructure Debt Fund with an initial size of 8,000 crore launched earlier this month.
41. National Manufacturing Policy announced with the objective of raising, within a decade, the share of manufacturing in GDP to 25 % and creating of 10 crore jobs.
42. Direct import of Aviation Turbine Fuel permitted for Indian Carriers as actual users.
43. 5,000 crore India Opportunities Venture Fund to be set up with SIDBI. GK & Current Affairs IBPS PO Exam 2012
44. To enable greater access to finance by Small and Medium Enterprises (SME), two SME exchanges launched in Mumbai recently.
45. Initiative of Bringing Green Revolution to Eastern India (BGREI) has resulted in increased production and productivity of paddy. Allocation for the scheme increased to 1,000 crore in 2012-13 from 400 crore in 2011-12.
46. 2,242 crore project launched with World Bank assistance to improve productivity in the dairy sector.
47. Target for agricultural credit raised by 1,00,000 crore to 5,75,000 crore in 2012-13.
48. Interest subvention scheme for providing short term crop loans to farmers at 7 % interest per annum to be continued in 2012-13. Additional subvention of 3 % available for prompt paying farmers.
49. Kisan Credit Card (KCC) Scheme to be modified to make KCC a smart card which could be used at ATMs.
50. A national information utility for computerisation of PDS is being created. To become operational by December, 2012.
51. Major initiative proposed to strengthen Panchayats through Rajiv Gandhi Panchayat Sashaktikaran Abhiyan.
52. 6,000 schools proposed to be set up at block level as model schools in 12th Plan.
53. National Urban Health Mission is being launched.
54. Pradhan Mantri Swasthya Suraksha Yojana being expanded to cover upgradation of 7 more Government medical colleges.
55. Projects approved by National Skill Development Corporation expected to train 6.2 crore persons at the end of 10 years.
56. 1,000 crore allocated for National Skill Development Fund in 2012-13.
57. “Himayat” scheme introduced in J&K to provide skill training to 1 lakh youth in next 5 years. Entire cost to be borne by Centre.
58. In the ongoing Indira Gandhi National Widow Pension Scheme and Indira Gandhi National Disability Pension Scheme for BPL beneficiaries, pension amount to be raised from 200 to300 per month.
59. Scheme to create National Population Register likely to be completed within next 2 years.
60. Enrolment of 20 crore persons completed under UID mission. Adequate funds to be allocated to complete enrolment of another 40 crore persons.
For any query or doubt please leave your comment below.
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