The Budget has allocated Rs 500 crore to SIDBI to act guarantee to factoring funds. The finance minister will increase refinancing of SIDBI to help MSMEs and will allot Rs 2,400 crore for textile technology upgradation.
The Union Budget 2013-14 proposed to provide a sum of Rs 14,000 crore capital support to all public sector banks. This will help maintain their minimum tier â€“ I capital of 8% under Basel III. In turn, lenders can expand their loans maintaining the growth in the balance sheet. During FY13, GOI had budgeted for Rs12,000 crore.
Finance Minister P Chidambaram said the natural gas pricing policy will be reviewed. He also said that five LNG terminals in Dabhol will be operational in 2013-14.
The Finance Minister - P Chidambaram proposed to allow an additional tax deduction of Rs 1,00,000 on interest rate for home loans upto Rs 25 lakh. The Union Budget 2013 aimed to give more boost in low cost housing segment.
P Chidambaram allocated amount of Rs 14,873 crore to Jawaharlal Nehru National Urban Renewal Mission (JNNURM), which will be positive for Ashok Leyland and Tata Motors.
The Finance Minister P Chidambaram has announced 3000 kms of road projects in 2013-14 in various states in Gujarat, Maharashtra, Rajasthan and Andhra Pradesh. He also said committees will be set up to fast- track stalled and even new projects.
The finance minister has announced that infrastructure debt funds (IDFs) are encouraged to promote investment in infrastructure. An amount of Rs 55 lakh crore has been earmarked for infrastrucutre in the 12th Plan.
In a bid to boost retail investors' participation in the capital markets, the Finance Minister - P Chidambaram expanded the reach of Rajiv Gandhi Equity Savings Scheme, a programme that allows tax breaks to first-time stock market investors.
IRB Infrastructure Developers gained nearly 4 percent to Rs 122.30 on Bombay Stock Exchange as the government decided to make regulatory authority for road projects.
In Union Budget 2013 Finance Minister - P Chidambaram proposed to extend the reach of subsidised agriculture credit. Farmers who repay bank loans right in time normaly pay a subsidised rate of interest just at 4%.
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The government needs to gradually bring down misdirected subsidies and limit the benefits to needy persons, said chief economic advisor Raghuram Rajan.
The most laudable aspect about Budget 2012-13 is the launch of the National Urban Health Mission. For years, the healthcare focus has been on the rural poor, ignoring the fact that in the past few decades many of them have been migrating to cities in search of livelihoods.
Swastika Investmart has come out with its report on Union Budget 2012-13. As per the research firm India’s GDP growth in 2012-13 expected to be 7.60%.
Dun & Bradstreet India (D&B) has come out with its detailed analysis on Union Budget 2012-2013. According to the research firm, the fiscal year FY13 is expected to witness a slow pace of recovery in growth, thus entailing lower revenue generation and exacting higher expenditure from the government.
Developing the airspace over metropolitian railway stations can raise Rs 50,000 crore - but the government is sitting on the idea for 20 years.
Finance Minister Pranab Mukherjee said Dinesh Trivedi's resignation was under the Prime Minister's consideration.
The FM's fiscal deficit is a piece of fiction, even if he raises oil prices. The UPA is in a lose-lose situation no matter what the FM does this year.
The UPA government is likely to announce Railway Minister Dinesh Trivedi's resignation in Parliament on Monday.
Meanwhile, Finance Minister Pranab Mukherjee is likely to reply to the debate on the Railway Budget in Parliament.
While Trivedi was the businessman within the Trinamool fold, party leader Mamata Banerjee thrived on competitive populism.
Trivedi spoke to Trinamool Congress Chief Mamata Banerjee and said that he is willing to abide by the party's wishes and resign.