Union Budget of India 2012-2013 IBPS examination questions and answers

As we all knows that Due to the global investment fall in India, GDP sucks and really goes down.All this leads to the pressure on the Govt.agencies to grow up with real mean.As the common man feel uncomfortable towards its day to day  journey.Due to Crisis in Euro zone, political turmoil in Middle East and rise in crude oil price as well the Japan huge earthquake.The impact of these all are directly on Indian Economy.Below here are some discussed aspects for improvement of Indian crucial situation.Please note down all these in your specially memory wallet .so here we do:

So here some Important Budget highlights for you:

• Finance Minister Presented Union Budget in the Parliament .

  • Name of Indian Finance Minister 2012-13 is Pranab Mukherjee

• Total expenditure for 2012-13 budgeted at 14,90,925 crore. 

  • 12th year Plan expenditure for 2012-13 at `5,21,025' crore is 18 per cent higher than BE 2011-12. This is higher than 15 per cent projected in Approach to the Twelfth Plan. 
   
• Current  GDP is estimated to grow by 6.9 per cent in 2011-12,due to deceleration in industrial
  growth.

• In previous two years it was 8.4 %.

•  India however remains front runner in economic growth in any cross-country comparison.

• 12th  - Twelfth Five Year Plan to be launched. The Aim  of this is : “faster, sustainable and more inclusive growth” 
• Income tax salary exemption limit for the general category of individual taxpayers proposed to be enhanced from 1,80,000 to 2,00,000 giving tax relief of 2,000 only.
• The upper limit of 20 per cent tax slab proposed to be raised from 8 -10 lakh.
• A deduction upto 10,000 for interest from savings bank accounts. 
• Rise in service tax rate from 10 per cent to 12 per cent
• Excise duty to be raised from 10 per cent to 12 per cent
• No change customs duty of 10 per cent on non-agricultural goods.

  NOTE:-

• 2012-13  India’s GDP expected to be at 7.6 per cent +/- 0.25 per cent
• “Swabhimaan Scheme for meet the  financial inclusion ”
• The fund issues for Rashtriya Krishi Vikas Yojana (RKVY) 9,217 crore in
  2012-13.
• Bringing Green Revolution to Eastern India (BGREI ) new initiative by the govt of India
• A huge amount approximate 2,242 crore project launched by the World Bank assistance in order to improve dairy sector productivity.
• Modified KCC 's smart card so we use them at ATMs.KCC refer to Kisan Credit Card Scheme.
• Amount tends to 750 crore proposed for SABLA Scheme.

Basically SABLA is a Rajiv Gandhi Scheme for Empowerment of Adolescent Girl (Important).

• No new case of polio reported in last one year 2011.India become Polio Free

National Urban Health Mission (NUHM) Launched:

some feature about NUHM are:

What is NUHM:

NUHM  recognizes  both  growth  of  urban  areas  and  the  growth  of  urban  poor,
especially those living  in the slums. As a result there is pressure on the existing
infrastructure which is deficient.The Government  of  India will  allocate  approximately Rs. 8600  crores  from  the Central Government for a period of 4 years (2008-2012) to the NUHM.

• XIth Five Year Plan, Rs.4,495 crore were allocated for proposed NUHM
• It cover all cities and towns with a population of more than 50,000.Covering 779 cities and towns including seven mega cities including New Delhi, Kolkata, Chennai,Mumbai,Bengaluru, Hyderabad and Ahmedabad.

Goal of NUHM:

• To address  the health concerns by  facilitating equitable access available health  facilities  by  rationalizing.
• Increase   the  capacity  of  the  existing health care delivery system.
•  It proposes to address gaps with the support of non governmental organizations. 
• Monthly health and nutrition day  

It covers three model.Three-tier system of health care

I.  Community Level 
Community Outreach Services
Mahila Arogya Samitees (MAS) 
Urban Social Health Activist (USHA) 

II.  Urban Health center level  
Strengthening existing public health facility 
Empanelled private providers 

III.  Secondary/Tertiary level 
Public or private empanelled providers  

SWAVALAMBAN scheme:-

This scheme will be applicable to all citizens in the unorganized sector who join the New Pension System (NPS) administered by the Interim Pension Fund Regulatory and Development Authority (PFRDA).Benefits under the Scheme 2.Here Government will contribute Rs. 1000 per year to each NPS account opened in the year 2010-11 and for the next three years, that is,2011-12, 2012-13 and 2013-14. The benefit will be available only those who join the NPS with a minimum contribution of Rs. 1,000 and maximum  contribution of Rs. 12,000 per annum.The Swavalamban Scheme has been launched on 26.09.2010 by the Central Government.The Scheme is to be administered by the Interim Pension Fund Regulatory and Development Authority (PFRDA). The Central Government shall contribute Rs. 1000 per annum to such subscribers. As per the Government guidelines for Swavalamban, any citizen who is not part of any statutory pension scheme of the Government and contributes between Rs. 1000 and Rs. 12000/- per annum, could join the Swavalamban Scheme. The Swavalamban Scheme is open till Financial Year 2016-17 and it is expected that the Scheme would benefit about 70 lakh NPS subscribers of the unorganised sector during the period. Further, Finance Minister has announced in his Budget Speech 2011-12 that: -

J & K initiative:-

• A scheme called “Himayat” introduced in J&K to provide skill training to 1 lakh youth in next 5 years. 
• Entire cost to be borne by Centre Government..

Twelth five year Plan addons:

Here some new milestone for the 12th plan ::

• National Food Security Mission (NFSM).
• National Mission on Sustainable Agriculture including Micro Irrigation.
• National Mission on Oilseeds and Oil Palm.
• National Mission on Agricultural Extension and Technology.
• National Horticultural Mission  National Mission for Protein Supplement.

Regional Rural Banks:

• Out of 82 RRBs in India, 81 have successfully migrated to Core Banking Solutions
  and have also joined the National Electronic Fund Transfer system 

 Hope you all enjoy the article if any doubt or suggestions comment me .

Source: ymg , budget 2012, Swavalamban

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