Indian Union Budget 2011-2012

Key Features of Budget 2011-2012 Highlights

1. Allocation for education sector hiked to Rs 57,057 cr.
2. Capital infusion of Rs 20,157 cr in PSU banks.
3. Credit flow for farmers increased from 3.75 lakh cr to Rs 4.75 lakh cr.
4. Direct Tax Code to be effective from April 2012.
5. Economy to grow at 9 per cent in 2011.
6. FII limit in corporate bonds raised to $40 million.
7. FIIs allowed to invest in mutual funds.
8. Govt to maintain 51 per cent stake in PSUs.
9. Income tax exemption raised from Rs 1.6 lakh to Rs 1.8 lakh.
10. International award of Rs 1 crore instituted for promoting universal brotherhood in memory of Rabindranath Tagore.
11. I-T exemption for senior citizens increased from Rs 2.4 lakh to Rs 2.5 lakh; age bracket reduced from 65 years to 60 years.
12. New bracket of 'very senior citizens' created (80 years and above), having an I-T exemption of Rs 5 lakh.
13. ousing loan limit raised from Rs 20 lakh to Rs 25 lakh from priority sector lending.
14. Rs 200 crore for development of IIT Kharagpur.
15. Rs 40,000 crore disinvestment target for 2011-12.
16. Rs 58,000 cr allocated for Bharat Nirman projects.
17. Rs 8,000 cr allocated for North-East development and Rs 28,000 cr for J&K.
18. Sarva Shiksha Abhiyan outlay increased by 40 per cent to Rs 21,000 cr.
19. Some categories of salaried people exempted from filing I-T returns.
20. Subvention of 1 per cent on home loans up to Rs 15 lak.