The Union Budget for 2013-14 aims at higher growth rate leading to inclusive and sustainable development as ‘mool mantra’.
- Finance Minister makes three promises: to women, youth and the poor.
- Nirbhaya Fund to empower women and to keep them safe and secure.
- Proposal to set up India’s first Women’s Bank as a public sector bank.
- Rs. 1,000 crore for skill development of ten lakh youth to enhance their employability and productivity.
- Direct Benefit Transfer (DBT) Scheme to be rolled out throughout the country during the term of UPA Government.
- Substantial rise in allocation to the social sector. Allocation for Rural Development Ministry raised by 46 percent to Rs. 80,194 crore.
- The target for farm credit for 2013-14 has been set at Rs. 7,00,000 crore against Rs. 5,75,000 crore during the current year.
- Rs. 10,000 crore earmarked for National Food Security towards the incremental cost.
- Education gets Rs. 65,867 crore, an increase of 17 percent over RE for 2012-13.
- ICDS gets Rs. 17,700 crore. This is 11.7 percent more than the current year.
- Health and Family Welfare Ministry has been allotted Rs. 37,330 crore. National Health Mission will get Rs. 21,239 crore which represents 24.3 percent over the RE.
- The Jawaharlal Nehru National Urban Renewal Mission (JNNURM) will receive Rs. 14,873 crore as against RE of Rs. 7,383 crore in the current year.
- Rs. 3,511 crore have been earmarked to Minority Affairs Ministry, 60 percent higher than RE for 2012-13.
- The Government will encourage Infrastructure Debt Fund (IDF) and allow some institutions to raise tax free bonds upto Rs. 50,000 crore which is 100 percent more than the current year.
- Income limit under Rajiv Gandhi Equity Savings Scheme (RGESS) will be raised from Rs. 10 lakh to Rs. 12 lakh.
- First home loan from a bank or housing finance corporation upto Rs. 25 lakh entitled to additional deduction of interest upto Rs. 1 lakh.
- Proposal to launch Inflation Indexed Bonds or Inflation Indexed National Security Certificates to protect savings from inflation.
- Benefits or preferences enjoyed by MSME to continue upto three years after they grow out of this category.
- A grant of Rs. 100 crore each has been made to 4 institutions of excellence including Aligarh Muslim University, Banaras Hindu University, Tata Institute of Social Sciences, Guwahati and Indian National Trust for Art and Cultural Heritage (INTACH).
Relief of Rs. 2000 for the tax payers in the first bracket of 2 to 5 lakhs.