In this year's budget, Union Finance Minister Pranab Mukherjee has essentially tried to consolidate the gains from the initiatives he had launched during the previous two budgets. Thus, in agriculture there is no new initiative except increasing the target for agricultural credit to Rs.5,75,000 crore during 2012-13. This represents an increase of over Rs.1,00,000 crore from last year. The interest rate of four per cent recommended by the National Commission...

Token relief to individual taxpayers will cost the exchequer Rs. 4,500 crore In a “pragmatic and domestic growth-oriented” budgetary exercise aimed at shoring up investor confidence and investment, Union Finance Minister Pranab Mukherjee on Friday sought to tap indirect taxes, especially service tax, to rake in an additional Rs. 45,940 crore into his kitty. Presenting the budget for 2012-13 in Parliament, Mr. Mukherjee provided a token relief to individual taxpayers that will cost...

-The Business Standard The Union budget for 2012-13 today reinforced the importance of Uniquie Identification programme, as the Finance Minister Pranab Mukherjee approved an outlay of around Rs 1,450 crore for Aadhaar. Finance Minister also increased the rollout target for Aadhaar card to an additional 400 million people. The enrolments into the Aadhaar system have already crossed 200 million. “The Aadhaar platform is now ready to support the payments of MGNREGA; old age,...

-PTI The Opposition parties today slammed the Union budget presented by finance minister Pranab Mukherjee as "anti-people", "lacklustre" and one that would increase the financial burden on the common man. "The Union budget does not provide any relief to the common man. It betrays the trust of the common man," BJP spokesman Shahnawaz Hussain told reporters here. BJP leader Ananth Kumar said the budget was "anti-people". "It is a purposeless and clerical budget,"...

-IANS The flagship National Rural Health Mission (NRHM) of the United Progressive Alliance (UPA) government got a higher allocation of Rs.20,822 crore in the 2012-13 Budget presented on Friday.  Presenting his seventh budget in the Lok Sabha, finance minister Pranab Mukherjee announced the increase in the allocation for NRHM.  He also said the National Urban Health Mission was being launched. Under this scheme, the basic primary health needs of the urban poor living...