Budget Allocation [ 2011 - 2012 ]

 Budget's Allocation  [ 2011 - 2012 ]

                                                               

Total Expenditure	12, 57,729 crore.
Plan Expenditure	4, 41, 547 crore.
Interest Payment	2, 67, 986 crore.
Defense services	1, 64, 415 crore.
Subsidies	1, 43, 570 crore.
Allocation in green India mission from national clean energy fund	200 crore.
Bharat Nirman programme	58,000 crore.
Credit flow for farmers (agriculture)	4, 75, 000 crore.
For recapitalization of public sector bank	6,000 crore.
For recapitalization of regional rural bank	500 crore.
India microfinance equity fund	100 crore
Indira Awaas yojana	10, 000 crore.
Integrated Child Development Services	10, 330 crore.
Mahatma Gandhi National Rural Employment Guarantee Scheme	40, 000 crore.
Mid Day Meal	10, 380 crore.
National Food Security Mission – 1	1,350 crore.
National Mission for Protein Supplement	300 crore.
National Rural Drinking Water Programme	9,350 crore.
National Rural Health Mission	18,115 crore.
National Skill Development Fund	500 crore.
Pradhan Mantri Gram Sadak Yojana	20, 000 crore.
Prime Minister’s Employment Generation Programme	1, 037 crore.
Rajiv Gandhi Grameen Vidyutikaran Yojana	6, 000 crore.
Rashtriya Krishi Vikas Yojana       (State plan)	7, 860 crore.
Rashtriya Madhyamik Shiksha Abhiyan	2, 424 crore.
Sarva Shiksha Abhiyan	21, 000 crore.
Swabhiman Scheme (supporting bank to open no frills accounts as a part of financial inclusion)	50 crore.
Swarnajayanti Gram Swarozgar Yojana	2, 914 crore.
Women’s SHG’s Development Fund	500 crore.
Jawaharlal Nehru National Urban Renewal Mission	13, 700 crore.
National Social Assistance Programme	6, 158 crore.
MPs Local Area Development Scheme	1, 580 crore.
Rural Development	87, 800 crore.
Social Sector	1,60,887 crore.

Budget's Deficit

 Target of Budget's deficit

Deficit	2010-11	2011-12	2012-13	2013-14
Revenue Deficit	3.40%	3.40%	2.70%	2.10%
Fiscal Deficit	5.10%	4.60%	4.10%	3.50%
Primary Deficit	2.00%	1.60%

Tax in Budget [ 2011- 2012 ]

TAX IN BUDGET- 2011-12

·        Income tax :-

Category/Tax Rate	0%	10%	20%	30%
General	Upto 1,80,000	1,80,001 - 5,00,000	5,00,001 - 8,00,000	More than 8,00,000
Ladies	Upto 1,90,000	1,90,001 - 5,00,000	5,00,001 - 8,00,000	More than 8,00,000
60-80 years	Upto 2,50,000	2,50,001 - 5,00,000	5,00,001 - 8,00,000	More than 8,00,000
More than 80 years	Upto 5,00,000		5,00,001 - 8,00,000	More than 8,00,000

•       Corporate tax: - 30% unchanged. Current surcharge of 7.5% on domestic    companies (whose total income exceeding Rs.1crore) to be reduced to 5%.
•       Excise duty:- 10% unchanged
•       Service tax: - 10% unchanged. Total services – 125 (Two new services included)
•       MAT :- 18.5% (.5% increased)
•       Direct Tax Code (DTC) will be implemented on 1April 2012.
•       For Goods and Services Tax (GST) Constitution Amendment Bill proposed to be introduced in this session of Parliament.
•       Revenue loss from Direct tax 11,500 crore,
•       Gains from Indirect Taxes 11,300 crore.