Date: 17th Mar 2012

Important News of the Day

1. UNION BUDGET 2012

• The total expenditure for 2012-13 is budgeted at Rs. 14,90,925 crore.
• Tax slabs for 2012-13
• A.      0-2,00,000 – NIL
• B.      2,00,000-5,00,000 – 10%
• C.      5,00,000-10,00,000 – 20%
• D.      10,00,000 and above – 30%
• Fiscal deficit targeted at 5.1% of GDP.
• India’s GDP growth in 2012-13 is expected to be 7.6% +/-0.25%.
• Standard rate of excise duty rose from 10% to 12%.
• The Finance Minister announced a provision of Rs 1,93,407 crore for Defence Services.
• Rs 30,000 crore through disinvestment in 2012-13.
• Rs 15,888 crore for capitalization of Public Sector Banks, Regional Rural Banks and other financial institutions including NABARD.
• The outlay for Rashtriya Krishi Vikas Yojana (RKVY) is being increased to Rs 9217 crore in 2012-13.

2. Sachin Tendulkar creates history by making 100th Ton against B'desh in Asia Cup 2012.