Description
The Union Budget of India, referred to as the Annual Financial Statement[1] in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament.
The Union finance minister presented the Budget for the year 2013-14. SOME MAJOR HIGHLIGHTS………
Fiscal deficit will be 5.2 per cent in current year and 4.8 per cent in the next fiscal. Will redeem our pledge to reduce fiscal deficit to 3 per cent by 2016-17
• No
change in slabs and rate for personal income tax.
• Tax credit of Rs 2000 to be provided to every person having income of up to Rs 5 lakh, this will benefit 1.8 crore people.
Major Highlights contd…..
• 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 Govt.
Impact of the Union Budget 2013-14 on the Education Sector
• Education cess to continue at 3 per cent.
• Let us look at some interesting provisions ?......
Budgetary allocation for the Rashtriya Madhyamik Shiksha Abhiyan, the government’s flagship programme for secondary education, is ~3,983 crore, an increase of 27 per
Education gets Rs. 65,867 crore, An increase of 17% over 2012-13.
• 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).
• Vocational courses offered by state-affiliated institutes to be exempted from services tax.
• National Institute for Sports to train coaches to be set up at Patiala at a cost of Rs 250 crore.
Focus on Education………….contd.:
• One overarching goal to provide education and skills to youth for securing jobs in the 2013-14.
• FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan. • Medical colleges in six more AIIMS-like institutions to start functioning this year; Rs 1650 crore allocated for the purpose. • Rs 4,727 crore to be allocated for medical education and research. Rs 1,069 crore to be given to Department of Ayush.
Further highlights - education
• Rs 5,284 crore to various Ministries for scholarships for SC/ST, OBC and minority students.
• Rs 13,215 crore to be provided for mid-day meal scheme.
• Indian Institute of Biotechnology will be set up at Ranchi.
• Incubators set up by companies in academic institutions will qualify for Corporate Social Responsibility (CSR) activities.
Now ,how these ambitious provisions actually come forth and implemented successfully is to be seen.
doc_312447072.ppt
The Union Budget of India, referred to as the Annual Financial Statement[1] in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament.
The Union finance minister presented the Budget for the year 2013-14. SOME MAJOR HIGHLIGHTS………
Fiscal deficit will be 5.2 per cent in current year and 4.8 per cent in the next fiscal. Will redeem our pledge to reduce fiscal deficit to 3 per cent by 2016-17
• No
change in slabs and rate for personal income tax.
• Tax credit of Rs 2000 to be provided to every person having income of up to Rs 5 lakh, this will benefit 1.8 crore people.
Major Highlights contd…..
• 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 Govt.
Impact of the Union Budget 2013-14 on the Education Sector
• Education cess to continue at 3 per cent.
• Let us look at some interesting provisions ?......
Budgetary allocation for the Rashtriya Madhyamik Shiksha Abhiyan, the government’s flagship programme for secondary education, is ~3,983 crore, an increase of 27 per
Education gets Rs. 65,867 crore, An increase of 17% over 2012-13.
• 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).
• Vocational courses offered by state-affiliated institutes to be exempted from services tax.
• National Institute for Sports to train coaches to be set up at Patiala at a cost of Rs 250 crore.
Focus on Education………….contd.:
• One overarching goal to provide education and skills to youth for securing jobs in the 2013-14.
• FM allocates Rs 41,561 crore for SC sub-plan; Rs 24,598 crore for tribal sub plan. • Medical colleges in six more AIIMS-like institutions to start functioning this year; Rs 1650 crore allocated for the purpose. • Rs 4,727 crore to be allocated for medical education and research. Rs 1,069 crore to be given to Department of Ayush.
Further highlights - education
• Rs 5,284 crore to various Ministries for scholarships for SC/ST, OBC and minority students.
• Rs 13,215 crore to be provided for mid-day meal scheme.
• Indian Institute of Biotechnology will be set up at Ranchi.
• Incubators set up by companies in academic institutions will qualify for Corporate Social Responsibility (CSR) activities.
Now ,how these ambitious provisions actually come forth and implemented successfully is to be seen.
doc_312447072.ppt