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Union Budget 2012: Key Highlights

Finance minister Pranab Mukherjee today presented the union budget 2012. This is the 81st budget in Indian history but seventh annual budget by mukherjee which is indicated the second highest by any finance minister. Let’s take a look on the key highlights of union budget 2012:

  • India's GDP estimated to grow at 6.9% in 2011-12
  • See signs of Indian economy turning around
  • Expect headline inflation to moderate in next few months
  • Current account deficit likely to be at 3.6% for FY12
  • Average crude price likely to exceed USD 115 per barrel in 2012
  • Focus on domestic demand driven growth
  • Need to remove supply bottlenecks in national highway, coal, aviation
  • Need to address black money issue
  • Will encourage private investment
  • Government will raise INR 30,000 cr via divestment in FY13
  • GST will become operational by August 2012
  • To implement DTC at the earliest
  • Government to move MFI Bill
  • Mandatory to make IPOs of INR10 crore plus to introduce it in electronic form
  • Will introduce Rajiv Gandhi Equity Scheme to encourage retail investors
  • Tax exemption on individual share investments below INR10 lakh
  • Expect infra investment in the 12th Plan to be INR 50 lakh crore
  • Tax free infrastructure bonds doubled to INR 60,000 crore
  • No progress on FDI in aviation
  • INR 50,000 tax exemption for retail investors
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