BUDGET 2012 A disappointment? [Apr 2012]

Industry leaders react to Pranab Mukherjee’s Union Budget 2012-13Budget Highlights • Investment in 12th Plan in infrastructure to go upto Rs.50,00,000 crore; half of this is expected from private sector• Tax Free Bonds of Rs. 60,000 crore to be allowed for financial infrastructure projects• Allocation of Road Transport and Highways Ministry enhanced by 14% to Rs. 25,360 crore• Provisions under rural housing fund increased to Rs. 4,000 crore from Rs. 3,000 crore• Interest subvention of 1% on housing loans upto Rs.15 lakh extended for one more year• 27% rise in allocation for rural drinking water and sanitation to Rs. 14,000 crore; PMGSY gets 20% rise to Rs. 24,000 crore• Projects covering length of 8,800 km to be awarded under NHDP against 7,300 km during 2011-12• Income tax exemption limit raised from Rs. 1,80,000 to Rs. 2,00,000; upper limit of 20% tax slab raised from Rs. 8 lakh to Rs.10 lakh• Relief in indirect taxes to sectors under stress; agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment get duty relief

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