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Budget '13-14: Highlights

PUBLISHED BY: SURENDER KUMAR
MARCH 01, 2013

   
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FM P Chidambaram has projected higher spending for fiscal year 2013-14, which is to be funded with higher revenues - including from new taxes on rich and large companies. The budget aims at a revival of growth amid the  worst slowdown in a decade.

 

Here are some key points from the Finance Bill:

 



FISCAL DEFICIT

> Fiscal deficit seen at 5.2% of GDP in 2012-13

> Fiscal deficit seen at 4.8 % of GDP in 2013-14

 

 

BORROWINGS

> Gross market borrowing seen at Rs 6.29 trillion in 2013-14

> Net market borrowing seen at Rs 4.84 trillion in 2013-14

> Short-term borrowings seen at Rs 198.44 trillion in 2013-14

> To buy back Rs 50000 crore worth of bonds in 2013-14

 

 

SPENDING

> Total budget expenditure seen at Rs 16.65 trillion in 2013-14

> Non-plan expenditure estimated at about Rs 11.1 trillion in 2013-14

> India's 2013-14 plan expenditure seen at Rs 5.55 trillion trillion

> Revised estimate for total expenditure is Rs 14.3 trillion in 2012-13, which is 96 % of the budget estimates



 

SUBSIDIES

> For 2013-14, major subsidies bill estimated at Rs 2.48 trillion as opposed to the estimate earlier of Rs 1.82 trillion

> Petroleum subsidy seen at Rs 65000 crore in 2013-14

> Revised petroleum subsidy for 2012-13 at Rs 96,880 crore

> Estimated 900 billion rupees spending on food subsidies in 2013-14

> Revised food subsidies at 850 billion rupees in 2012-13

> Revised 2012-13 fertiliser subsidy at 659.7 billion rupees




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