As much as 5.3 per cent of the Union Budget for 2012-13 is Budget for Children (BfC) with an increase of 0.3 per cent since 2011-12. This must be set against the inflation rate of 6.6 per cent. The increase can be attributed to the increased allocation in the development sector by 66.2 per cent and health by 29.7 per cent. However, as always, the share of the protection sector remains...

-The Times of India Many feel the Budget is positive for the education sector, with good amounts allocated to higher education and school education exempted from service tax Pranab Mukherjee, finance minister, presented the Union Budget for the year 2012-13 on Friday, with reference to the state of the global economy and its impact on India. The Budget seems positive for the education sector, with good amounts allocated to higher education and...

The Economic Survey 2011-12 showcases the dividends of economic liberalisation started by the ruling party. But admits: growth is not possible without agriculture During the last financial year there were talks of the Indian economy finally decoupling from agriculture thus monsoon. The Economic Survey of 2011-12 disagrees with that. The survey has re-emphasised that whatever economic growth happened in the last fiscal it was due to agricultural growth. India recorded the...

It is disappointing that the government has not taken any steps to provide for the Food Security Bill, which is in Parliament, in this budget. A significant announcement on it was anticipated this year; that would have been the only way to see it roll out in 2012. Now, I think, the government must be bargaining for legal processes to take over, which we know will take some time, before...

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...