Showing posts with label Budget2011. Show all posts
Showing posts with label Budget2011. Show all posts

Full Speech of Union Budget 2011-12

Budget 2011-2012 



Minister of Finance

February 28, 2011

Madam Speaker,
I rise to present the Union Budget for 2011-12.
We are reaching the end of a remarkable fiscal year. In a globalised world
with its share of uncertainties and rapid changes, this year brought us some
opportunities and many challenges as we moved ahead with steady steps on the
chosen path of fiscal consolidation and high economic growth.

Highlights of Union Budget 2011-12



* Direct tax sops to result in Rs 11,500 cr net revenue loss

* Investment-linked deductions for fertilisers and developers of affordable housing

* Low withholding tax of 5% for notified infra funds

* Foreign dividend tax rate cut to 15% for Indian companies

Highlights of Rail Budget 2011-12

Important Points of Rail Budget 2011-12

· No hike in passenger fare and freight rates 
· Highest ever Plan outlay of Rs 57,630 crore proposed for Railways 
· Rs. 9,583 crore provided for new lines 
· 1300 km new lines, 867 km doubling of lines and 1017 km gauge conversion targeted in 2011-12
· 56 new Express Trains, 3 new Shatabdis and 9 Duronto trains to be introduced 
· AC Double Decker services on Jaipur-Delhi and Ahmedabad-Mumbai routes
· New Super AC Class to be introduced 
· A new portal for e-ticketing to be launched shortly · Booking charges will be cheaper with a charge of only Rs 10 for AC classes and Rs 5 for others 
· Pan-India multi-purpose smart card 'Go India' to be introduced 
· 236 more stations to be upgraded as Adarsh Stations 
· 47 additional suburban services in Mumbai and 50 new suburban services proposed for Kolkata · Two new passenger terminals in Kerala and one each in Uttar Pradesh and West Bengal proposed
· Feasibility study to raise speed of passenger trains to 160-200 kmph to be undertaken 
· A special package of two new trains and two projects for the states managing trouble free run of trains throughout the year 
· Anti Collision Devise (ACD) sanctioned to cover 8 zonal railways 
· GPS Based 'Fog Safe' Device to be deployed · All unmanned level crossing up to 3000 to be eliminated 
· All India Security Help line on a single number set up 
· All state capitals in the North-East except Sikkim to be connected by Rail in next seven years 
· A Bridge Factory in J & K and a state-of-art Institute for Tunnel and Bridge Engineering is proposed at Jammu 
· A Diesel Locomotive Centre will be set-up in Manipur 

· A Centre of Excellence in Software at Darjeeling proposed under the aegis of CRIS
· Rail Industrial Parks at Jellingham and New Bongaigaon proposed 
· Additional mechanised laundry units to be set up at Nagpur, Chandigarh and Bhopal 
· 700 MW gas-based power plant to be set up at Thakurli in Maharashtra 
· 18,000 Wagons to be procured during 2011-12
· A scheme for socially desirable projects, 'Pradhan Mantri Rail Vikas Yojana' with non-lapsable fund proposed 
· 10,000 shelter units proposed for track side dwellers in Mumbai, Sealdah, Siliguri, Tiruchirapalli on pilot basis
· Concession to physically handicapped persons to be extended on Rajdhani and Shatabdi trains 
· Concession of 50 per cent to press correspondents with family increased to twice a year 
· Senior Citizens concession to be hiked from 30 per cent to 40 per cent 
· Medical facilities extended to dependent parents of the Railway employees 
· Scholarship for girl child of Group-D railway employees increased to Rs 1200 per month 
· 20 additional hostels for children of railway employees to be set up 
·Recruitment for 1.75 lakh vacancies of Group 'C' and 'D' including to fill up backlog of SC/ST initiated, 16,000 ex-servicemen to be inducted by March 2011 
· A separate sports cadre to be created
· 2011-12 declared 'Year of Green Energy' for Railways 
· Freight loading of 993 MT and passenger growth of 6.4 per cent estimated for 2011-12 
· Gross Traffic Receipts at Rs 1,06,239 crore, exceeding one lakh crore mark for the first time estimated 
· Ordinary Working Expenses assessed at Rs 73,650 crore

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Pro-People Budget

My budget is pro-people: Mamata

Railway Minister Mamata Banerjee has refuted charges that her budget was "populist or West Bengal-oriented" saying she had kept the interest of the nation in mind and given projects to every region. Countering CPI(M)'s allegations that she had made Railways bankrupt, she said, "Their government (in West Bengal) is bankrupt. It has Rs two lakh crore debt. Charity begins at home." On charges of populism, Banerjee said, "They are opportunist people. If this is pro-people let it be populist. When they know they cannot fight they make all such allegations. We have given projects to entire country including Jammu and Kashmir, Manipur and Assam. Bengal is not outside India." She said her opponents were "till yesterday shouting that Railways will not be able to pay dividends. Today you see the magic. 

Facilities for Railway Employee and Families

Railways to extend more facilities to employees, families 

Medical facilities for staff and their families in remote areas, increasing scholarship amount to girl child and setting up a Board to develop schools were some of the proposals put forth for welfare of Railway employees. The Railway Budget also included proposal for expansion of the scope of liberalised active retirement scheme guaranteed for safety category staff by enhancing the existing criteria of grade from Rs 1800 to Rs 1900. In order to provide easy access to medical facilities in remote and inaccessible areas for employees, Railway Minister Mamata Banerjee has proposed to provide 20 Road Medical Vans at different locations. 

9 Durontos, 3 Shatabdis, double decker AC trains

9 Durontos, 3 Shatabdis, double decker AC trains announced


As many as nine new Duronto trains, three Shatabdi Express trains and double-decker air conditioned services on two routes were announced by Railway Minister Mamata Banerjee on Friday. The new Shatabdi Express would link Pune-Secunderabad, Jaipur-Agra and Ludhiana-Delhi while the AC double-decker services are proposed on Jaipur-Delhi and Ahmedabad-Mumbai routes. 

Survey Says Nine percent growth in Economy

Budget : Top- Story
Economy to grow by 9 % in 2011-12: Survey


India's economy will revert to the pre-crisis growth level of 9 per cent in the next fiscal, buoyed by strong fundamentals, the Economic Survey 2010-11 predicted on Friday.

"Based on the performance of the economy over the last five years and analysis of the underlying trends... India's real GDP is expected to grow by 9 per cent (+/-0.25) in 2011-12," the pre-Budget Survey tabled in Parliament on Friday said.