Budget 2013 Live: Chidambaram says no review of Income Tax slabs for this year

Feb 28 2013, 16:05 IST
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 P. Chidambaram says average economic growth rate in 11th Plan highest ever. (Express Photo) P. Chidambaram says average economic growth rate in 11th Plan highest ever. (Express Photo)
SummaryNirbhaya Fund' to empower women in the wake of the Delhi gangrape incident: FM

is 8 per cent, highest ever in any Plan period: FM

* Economic space constrains due to high fiscal deficit, lower savings and investment and tight monetary policy: FM

* 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: Chidambaram

* Battle against inflation must be fought at all fronts: FM

* Faced with huge fiscal deficit, I have no choice but to rationalise expenditure: FM

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

* Many manufacturing projects stalled due to regulatory process: FM.

* 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.

* To provide appropriate incentives for semiconductors industry including zero customs duty on plants and machineries.

* 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, says FM

* 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: FM

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

* Rs 7 lakh crore target fixed for agri 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.

* Rs 500 crore allocated for programme on crop diversification.

* 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: FM

* Tax free bonds issue to be allowed up to Rs 50,000 crore in 2013-14 strictly on capacity to raise

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