Economic Survey 2010-2011

• The Economic Survey to review the economic performance in the current financial year and forecast the economy prospects for the coming year.
• Indian economy to grow by 9 per cent in next fiscal year.
• Gross fiscal deficit decreases to 4.8% of GDP.
• Inflation estimated to be higher by 1.5%.
• India on way to become fastest growing economy in the world.
• Calls for new 'Green Revolution' for agricultural sector with higher investment and introduction of latest technologies.
• Government working on regulations to emphasize on capital market.
• Increase influx of foreign capital by building close association with G-20 countries.
• National Forest Land Bank to improvise the infrastructure projects.
• Estimated economic growth at 8.75-9.25 per cent for fiscal year 2012.
• Estimated agriculture sector growth at 5.4 per cent during this fiscal year.
• Growth of Industrial output by 8.6% where, manufacturing sector registers 9.1%.
• The export stats; 29.5% in 2010 April-December and Import; 19%.
• Trade gap minimizes to $82.01 billion.
• Raised both saving and investment rate to 33.7% & 36.5% of GDP.
• Estimated food grains production at 232.10 million tonnes.
• Fores reserves to reach $297.30 billion.
• Importance given to telecommunication sector.
• Policies supporting accounting, legal, tourism, education, financial and other services.
• Taxation of goods and services to be revised.
• Introduction of Financial Schemes to monitor unemployment.
• Reformation necessary in the current education system by inviting more private participation.

Rail Budget 2011-12

• No fare hike for passengers.
• Presenting new trains for Vivekananda, Tagore birth.
• Introduction of 3 new Shatabdis on Pune-Secunderabad; Jaipur- Agra and Ludhiana-Delhi routes.
• Recruitment of new staff of Group 'C' and 'D' to fill up backlog of SC/ST and 16,000 ex-servicemen by March 2011. 20 hostels for children of railway employees.
• Establishment of 1300 MW thermal power plant in AP.
• Establishment 1320 MW thermal power plant in Agra.
• Indian railways to invest 576.3 billion rupees for the financial year 2011-12.
• Increased EMU coaches (from 9 to 12) of Mumbai suburban system
• New coach factory to come up in Kolar via PPP Or JV.
• Railway system to ensure more transparency.
• 9 new Duronto trains to be introduced;2 new double decker train services.
• 17 trains with increased frequency.
• Gauge conversion expenditure to double.
• Start up of 40 new routes covering 1075 km.
• Increase in operation cost of Railways.
• Concession for senior citizens increased to 40 percent, handicap in Rajdhani & Shatabdi express.
• Introduction of 3 new Shatabdi trains in FY 12.
• Scholarship scheme for low income group.
• Introduction of trolleys at railway stations.
• Railway liabilities increased due to 6th pay commission arrears.
• Online ticket booking to get cheaper.
• Revival phase for Indian Railway.
• Upgrading 442 stations by March 31.
• 180 km of rail lines to be added in 2011-12.
• Larger scheme for current railway employees.
• Scholarship schemes for children of railway employees raised to Rs 1200.
• Ticket booking charges reduced; Rs 10 for AC and Rs 5 for non AC.
• Railways introducing 16000 ex-servicemen from March 2011.
• New passenger terminals in Kerala.
• User friendly stations for physically challenged.
• 'Go India' smart card for buying long distance travel tickets on pilot basis.
• Mamta : Green energy, green year, green environment with railways.
• Railways to collaborate with major technology and IT institutes for new technology upgradation in railways.
• Special package for states running problem free railways; provide 2 new trains for good performance.
• Anti-collusion device for three railway zones to minimize rail accidents.
• Increased number of trains-from 16100 to 18000.
• Railways to provide 10000 shelter to poor.
• 57,630 crore investment plan this year.
• New railway lines to emphasize on under developed areas.
• New railway lines in Manipur.
• Pradhan Mantri Railway Vikas Yojna with new projects
• 700 mw captive gas power plant to be introduced for railways
• Pilot projects in suburban region.
• 700km expansion of railway line.
• Railway factory to be set up in Jammu & Kashmir, Metro coaches factory in Singur.
• The first Rae Bareilley coach to start in next three months.
• Set up new railway at Bongaigaon.
• A vision of railway based industries by 2020.
• The budget to give common mans face.
• Equal focus on common mans need and economy.
• Mamta:Ministry is aware of the social responsibilities.
• Railway services equivalent to emergency services.
• Mamata Banerjee presents Rail Budget 2011-12 in Lok Sabha.
• As per sources, out of 40 pet projects of Mamta Banerjee which she is supposed to announce in the budget, 14 have been accepted by the commission.
• Nitish Kumar demands the railway minister to introduce a high speed Duranto Express between Bihar and New Delhi.
• Address the staff shortage issue;Recruitment of new railway staff.
• Investors to benefit from rail stocks.
• More RPF personnel recruitment for security.
• Nominal Tatkal rates.
• Tax free bonds to be increased to 10,000 crore to improve railway infrastructure.
• CPI-M; No hopes from railway budget.
• Introduction of SMS service to lodge complaints.
• TPWS and ACD to be installed.
• Revised incentives to maximize private participation.
• More transport system between Secunderabad and Hyderabad.
• 86 new passenger trains expected.
• Super class division to challenge airlines.
• For the North Eastern region; a brand new diesel loco shed is expected to come up in Assam.
• Likely to add more Duronto services from Guwahati to New Delhi and Howrah.
• Railway Budget 2011 to be presented at 12 noon.
• The budget unlikely to favor the expected budget of 39,600 crore.
• Might add 100 new trains.
• For political reasons; West Bengal likely to get more benefits of new trains.
• New projects to create more employment which will again be beneficial for the coming election.
• Safety concern to be addressed; proposed for technology up gradation.
• Fare to remain the same to remove common mans financial burden.
• Mamata Banerjee has reached Parliament.
• Mamata says: Railway budget will be devoted to the common man.

Indian Budget 2011-12

• AC restaurants serving liquor and AC hospitals with more than 25 beds under service tax.
•  Service tax on air travel to be increased.
•  Customs duty on raw silk reduced from 30 to 5 per cent.
•  Legal services to be expanded to business entities.
•  20% export duty for iron ore.
•  Custom duty on Pet Coke and Gypsum to minimized to 2.5%.
•  No new tax exemption limit for women.
•  Mandatory levy of 10 pct on branded garments.
•  Budget estimates for 2011-12 projects- Rs 9,32,440 crore.
•  No change in Central excise duty rate. Base rate on excise duty raised from 4% to 5%.
•  Surcharge rate reduced from 7.5 percent to 5 percent for domestic companies.
•  Hike in exemption IT limit from Rs 1.6 lakh to Rs 1.8 lakh.
•  New series of coins with new rupee symbol expected.
•  Simplify tax collection procedure.
•  1 million UID cards to be distributed per day shortly.
•  Targeting to reduce deficit to 4.6% for the upcoming fiscal year.
•  Plan and Non-Plan expenditure to be increased by 23%.
•  BPL pension eligibility age limit reduced.
•  Group formed to monitor corruption;will start implementing from 62 dept. in first phase.
•  Amendment of Indian Stamp Act shortly.
•  Simplified form 'Sugam' for small tax payers.
•  Rs 1.64 lakh crore for Defence.
•  Rs 1000 crore to build judicial infrastructure.
•  Group of ministers to sort out Environmental concerns.
•  1000 crore for improvising judiciary system.
•  Rs 8,000 cr to Northeast.
•  60 schemes for SC/ST to be implemented.
•  Rs 100 crore for Ladakh.
•  Rs 150 crore for Jammu.
•  Pension amount increased for 80 years and above.
•  Indira Gandhi National Old Age Pension Scheme eligibility revised from 65 to 60 years.
•  Rs 200 cr grant to IIT Kharagpur.
•  Rs 20 crore to IIM Calcutta.
•  50 Crore to muslim universities in different states.
•  58,000 crore for Bharat Nirman Schemes: FM
•  State Innovation Council in each state to be set up.
•  Remuneration of anganwadi workers increased from Rs 1500 to Rs 3,000 per month.
•  Independent debt management office to be established.
•  Rs 1.6 lakh crore to be spent on social projects.
•  Current a/c gap a concern due to composition of FX flows: FM
•  Establishment of national policy on psychotic drugs, narcotics.
•  Tax free infra bonds worth Rs 30000 cr for PSBs proposed.
•  15 mega food parks to be set up.
•  Infrastructure spending increased by 23%.
•  Rs 30K crore tax free bonds to be provided for railways.
•  Financial assistance to be provide to Bengaluru, Chennai, Kolkata metro projects.
•  Allocation under Rashtriya Krishi Vikas Yojana to be increased to Rs 7860 crore.
•  Promote organic farming.
•  GDP manufacturing, targeting 16-25 % increase in next 10 years.
•  Rs 300 cr to cultivate pulses in rain-fed areas;Rs 300 cr for the promotion of farm product cultivation.
•  Provide Rs 6000cr for PSU bank recapitalization.
•  FM: Micro finance companies to be provided with Rs 100 crore equity funds.
•  Extension of NBS for urea to be analyzed.
•  Home loan limit increased.
•  Rs 300 cr for improving pulses production.
•  Rural infrastructure development fund to be raised to 180 billion Rupees for the coming fiscal year.
•  Grant 1% interest on home loans upto 50 lakhs.
•  Mortage Risk Guarantee fund for rural housing to be set up.
•  Rs 5,000 cr to be provided to SIDBI to meet priority lending targets.
•  Rs 2000 crore for warehousing facilities.
•  Rs 2,000 cr for manufacturing facilities.
•  Allocation of Rs 6000 cr for some PSU banks.
•  Only registered FII's to be associated with Indian MF industry.
•  Rs 40,000cr to be raised via disinvestment.
•  GST bill to be introduced in current session.
•  Extension of NBS to cover urea under review: FM
•  500 crore proposed for empowering women.
•  Micro finance institutes proposed for 100 crore.
•  300 crore to be provided to NABARD.
•  FBI to regularize banking amendments.
•  Ensures better delivery of urea, kerosene.
•  FII allow to trade amongst themselves.
•  FBI policy to be regularized.
•  Public Debt Management Bill to be introduced in 2012.
•  Pranab sees Budget 2011-12 as transition towards a transparent and result-oriented economic management.
•  Public sector undertaking to be increased.
•  Direct transfer of cash subsidy to downtrodden.
•  Average inflation and current account deficit to be minimized by next year: FM
•  Strong proposition to fight against corruption.
•  Pranab seeking Lord Indra's blessings to get good monsoon.
•  Remarkable record for last fiscal year.
•  Improvise the governance.
•  Govt. to reconsider ecological concerns.
•  Tremendous growth in exports-29.4%.
•  Food inflation down from 22.2% to 9.3 %. But still is a major concern, says FM.
•  Budget to ensure more transparent economy.
•  Focus on supply side issues in agriculture.
•  Pranab: Work on food inflation.
•  Stabilize the macro economic situation.
•  Budget 2011 approved by Cabinet.
•  Pranab: Impressive fiscal consolidation
•  Pranab Mukherjee begins the speech.
•  Finance Minister Pranab Mukherjee to begin Union budget 2011-12 speech from 11 am.