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Feb 28, 2013, 12.47 PM IST | Source: PTI

Union Budget 2013 - 14: FIIs can join in exchange traded currency derivatives

The Union finance minister today presented the Budget for the year 2013-14. Some of the key points that were highlighted by Chidambaram in the Budget are:

The Union finance minister today presented the Budget for the year 2013-14. Some of the key points that were highlighted by Chidambaram in the Budget are:

- Comprehensive social security package being evolved by convergence of several schemes run by various ministries.

- Investor with stake of 10 per cent or less will be treated as FII; any stake more than 10 per cent will be treated as FDI.

- FIIs will be allowed to participate in exchange traded currency derivatives.

- We will evolve schemes for cities to take up waste to energy projects.

- Small and medium companies to be allowed to listed on MSME exchange without making a public offer.

- Concessional six per cent interest on loans to weavers.

- Financial Sector Legislative Reforms Commission (FSLRC) to submit its report next month.

- Govt to construct power transmission system from Srinagar to Leh at the cost of Rs 1,840 crore, Rs 226 crore provided in current Budget.

- Faced with huge fiscal deficit, I have no choice but to rationalise expenditure

- We have brought down headline WPI inflation to 7 per cent and core inflation to 4.2 per cent. Food inflation is worrying

- Plan expenditure in 12th Five Year Plan revised to Rs 14,30,825 crore or 96 per cent of budgeted expenditure.

- Budget expenditure is Rs 16,65,297 crore and Plan expenditure Rs 5,55, 322 crore

- The revised expenditure target is Rs 14,30,825 crore or 96 per cent of Budget estimate for this fiscal. In 2013-14, the budget estimate is Rs 16,65,297 crore.

- One overarching goal to provide education and skills to youth for securing jobs in the 2013-14.

- FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan.

- Additional sum of Rs 200 crore to Women and Child Welfare Ministry to address issues of vulnerable women.

- Rs 3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the revised estimates.

- CFM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan.

- Rs 3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the revised estimates. 

- Rs 110 crore to be allocated to the department of disability affairs.

- Rs 37,330 crore allocated for Ministry of Health & Family Welfare.

- Rs 1069 crore allocated to Department of Aryush.

- Rs 4,727 crore to be allocated for medical education and research. Rs 1,069 crore to be given to Department of Ayush.

- In the Budget Rs 65,867 crore allocated to Ministry of HRD in 2013-14.

- Medical colleges in six more AIIMS-like institutions to start functioning this year; Rs 1650 crore allocated for the purpose.

- Rs 5,284 crore to various Ministries for scholarships for
SC/ST, OBC and minority students.

- Rs 13,215 crore to be provided for mid-day meal scheme.

- Rs 17,700 crore provided for Integrated Child Development Scheme.

- Rs 15,260 crore to be allocated to Ministry of Drinking Water and Sanitation.

- Rs 17,700 crore to be allocated for Integrated Child Development Scheme (ICDS.

- Rs 80,194 crore allocation for Ministry of Rural Development in 2013-14. About Rs 33,000 crore for MGNREGA.

- Rs 80,194 crore allocated for rural development schemes.

- States which have completed Pradhan Mantri Gramin Sadak Yojana will be eligible for PMGSY-II, others will continue with PMGSY-I.

- Rs 14,873 crore for JNNURM for urban transportation in 2013-14 against Rs 7,880 crore in the current fiscal.

- Foodgrain production in 2012-13 will be over 250 million Tons.

- Average annual growth rate of agriculture and allied services estimated at 3.6 per cent in 2012-13 when 250 MT foodgrains was produced

- Rs 27,049 crore allocation to the Agriculture Ministry in 2013-14

- Rs 7 lakh crore target fixed for agriculture credit for 2013-14 compared to Rs 5.75 lakh crore in the current year.

- Eastern Indian states to get Rs 1,000 crore allocation for improving agricultural production.

- Additional sum of Rs 200 crore to Women and Child Welfare Ministry to address issues of vulnerable women.

- Green revolution in east India significant. Rice output increased in Assam, Odisha, Jharkhand and West Bengal; Rs 1,000 crore allocated for eastern states.

- Rs 5,387 crore to be allocated for integrated watershed programme for farmers in 2013-14, an increase from Rs 3,050 crore in the current fiscal.

- Indian Institute of Biotechnology will be set up at Ranchi.

- Rs 10,000 crore set aside for incremental cost for National Food Security Bill over and above food subsidy.

- Four Infrastructure debt fund have been registered.

- Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 strictly on capacity to raise funds from the market.

- Rs 5,000 crore will be made available to NABARD to finance construction of godowns and warehouses.

- Government has decided to constitute a regulatory authority for the road sector.

- Many manufacturing projects stalled due to regulatory process.

- A company investing Rs 100 crore or more in plant and machinery in April 1, 2013 to March 31, 2015 will be allowed 15 per cent investment deduction allowance apart from depreciation.

- Rajiv Gandhi Equity Scheme will be liberalised to allow first time investor to invest in Mutal Fund and equity.

- First housing loan up to Rs 25 lakh would get additional deduction of interest of up to Rs 1 lakh in 2013-14.

- Govt to construct power transmission system from Srinagar to Leh at the cost of Rs 1,840 crore, Rs 226 crore provided in current Budget.

- Current account deficit continues to be high due to excessive dependence on oil, coal and gold imports and slowdown in exports.

- India does not have choice between welcoming and spurning foreign investment; it is an imperative.

- Battle against inflation must be fought at all fronts.

- DIPP and Japan's JICA preparing plan for Chennai-Bengaluru Industrial corridor.

- Two new major ports to be set up in West Bengal and Andhra Pradesh

- Oil and gas exploration policy will be reviewed and moved from profit sharing to revenue sharing.

- Policy on exploration of shale gas on the anvil; natural gas pricing policy will be reviewed and uncertainty removed.

- Govt to set up India's first women's bank as a public sector bank by October.

- Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17.

- 5 million tons Dabhol LNG import terminal to be operate at full capacity in 2013-14.

- FM asks state governments to prepare financial restructuring plan for power distribution companies at the earliest.

- SIDBI's re-financing facility to MSMEs to be doubled to Rs 10,000 crore.

- Incubators set up by companies in academic institutions will qualify for Corporate Social Responsibility (CSR) activities.

- Rs 500 crore would be allocated for addressing environmental issues faced by textile industry.

- Concessional six per cent interest on loans to weavers.

- Financial Sector Legislative Reforms Commission (FSLRC)
to submit its report next month.

- Rajiv Gandhi Equity Scheme will be liberalised to allow first time investor to invest in Mutal Fund and equity.

- First housing loan up to Rs 25 lakh would get additional deduction of interest of up to Rs 1 lakh in 2013-14.

- Standing Council of Experts in Ministry of Finance to examine transaction cost of doing business in India.

- Rs 14,000 crore capital infusion into public sector banks in 2013-14.

- PSU banks to have ATMs at all their branches by March 31, 2014.

- Rs 6,000 crore to be allocated for rural housing fund in 2013-14.

- All Regional Rural Banks and cooperative banks to be e-linked by this year-end.

- Insurance companies will be empowered to open branches in Tier-II cities with approval of IRDA.

- National Housing Bank (NHB) to set up urban housing bank fund and Rs 2,000 crore will be allocated in this regard.

- Public sector general insurance companies to set up adalts to clear disputes related to claims.

- Rashtriya Swasthya Bima Yojana benefit will be extended to rickshaw pullers, auto and taxi drivers and sanitation workers.

- Comprehensive social security package being evolved by convergence of several schemes run by various ministries.

- Investor with stake of 10 per cent or less will be treated as FII; any stake more than 10 per cent will be treated as FDI.

- FIIs will be allowed to participate in exchange traded currency derivatives.

- We will evolve schemes for cities to take up waste to energy projects.

- Small and medium companies to be allowed to listed on MSME exchange without making a public offer.

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