India Union Budget 2011 Highlights

  • MF can accept subscription foreign investors who meet KYC norms

    India Union Finance Minister Pranab Mukarjee

    Pranab Mukarjee

  • Discussions underway to relax FDI policy
  • To introduce Public Debt AMC of India Bill in FY12
  • Divestment in FY12 seen at Rs 40000cr
  • Preparations for GST rollout in final stages
  • Will introduce GST Bill in current session
  • Govt will move to direct transfer of fertiliser subsidy to cos
  • Extension of NBS to cover urea under review
  • Significant progress on the GST network
  • Direct Tax Code will be effective April 1, 2012
  • New Public debt mgmt bill to be introduced in Parliament soon
  • DTC will be finalised in 2011
  • Govt in the process of setting up independent debt managing committee within finance ministry
  • Average inflation and current account deficit to be lower and better managed next yr
  • Expect inflation and CAD to be lower in 2011-2012
  • Current account deficit poses concerns due to its composition
  • Exports grown by 29.4%; imports grown by 17.6%
  • Current account deficit at 2009-10 levels
  • Impact of monetary tightening to show up with a lag
  • Huge differences between wholesale and retail prices not acceptable
  • Expect RBI to moderate inflation in coming months
  • Shortfalls in distribution and marketing systems in food
  • Economy has shown resilience to external and internal shocks
  • Consumers have been denied a seasonal fall in food prices

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