It is my advantage to present the Annual for the year 2006-07.
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Fate Line In Palmistry - Destiny | AstroSanhita | vedic palmistry fate line[/caption]
An overview of the economy
Twenty months ago, aback I presented the aboriginal Annual of the UPA Government, I asked Honourable Members - and the bodies of this country - to airing with us on the aisle of honour and courage.
The final address agenda on the aboriginal year of the UPA Government is out, and there are affidavit to celebrate. According to the Axial Statistical Organization (CSO), the beforehand aggregate in 2004-05 was 7.5 per cent, with the accomplishment breadth growing at 8.1 per cent. Added importantly, at accustomed bazaar prices, gross calm extenuative added to 29.1 per cent of GDP and the aggregate of gross basal accumulation added to 30.1 per cent of GDP.
I acquire no agnosticism in my apperception that these after-effects were due to the political bulletin conveyed by the Civic Accustomed Minimum Programme (NCMP); the acute administering of the Prime Minister, Dr. Manmohan Singh; the action changes fabricated by the Government; and the apparent aplomb of the Indian bodies that their approaching is in safe hands.
I am blessed to address that the affairs for 2005-06 are aloof as good, if not better. This year can be characterized as the best of times and the affliction of times. Nature has not been affectionate to us.
Natural calamities took a abundant assessment on animal lives besides causing all-encompassing accident to crops, roads, houses, and the infrastructure. Government provided absolute acting relief; this was followed by releases from the CRF and NCCF totalling Rs. 5145.37 crore to date.
Obviously, this abetment will not be enough. The Planning Commission will draw up a programme for rebuilding the damaged infrastructure, and I ambition to assure the Abode that the Government will accommodate the money for rehabilitation and reconstruction.
Our success this year is due to our apprenticed accent on bread-and-butter abstemiousness through added revenues and aggregate control, bread-and-butter adherence and administering of the alien debt. However, our success should not allure us to devious from this path, and we shall not do so.
One of the important NCMP obligations was to focus on agriculture: we acquire done so, and the achievement of aliment grains is accustomed to be 209.3 actor tonnes, which is about 5 actor tonnes added than in the antecedent year.
The NCMP mandates the Government to advance employment: while creating abiding and affection jobs in the advantageous sectors, for accouterment absolute abatement to the poor, the Civic Rural Application Acceding Arrangement was launched on February 2, 2006.
In the accustomed year, beneath a clamp of schemes including the Aliment for Assignment programme, a sum of Rs.11,700 crore is accustomed to be spent on rural employment.
The NCMP mandates the Government to enhance investment: the advance aggregate has added steadily from 25.3 per cent in 2002-03 to 30.1 per cent in 2004-05. Several indicators point to affiliated airiness of basal accumulation in the economy.
I would like to accomplish adapted acknowledgment of Bharat Nirman. It epitomizes the UPA's admission to governance. It is a archetype about-face that will accredit us to use the assets befuddled up by the agent of beforehand for architecture basement and bringing basal amenities to rural India.
Honourable Members are acquainted of the six apparatus of Bharat Nirman and the aggressive targets to be accomplished by the year 2009. In the aboriginal year of its implementation, 2005-06:
Rs.944.18 crore has been arise so far as admission beneath the Accelerated Irrigation Annual Programme (AIBP) and the ambition of 600,000 hectares of irrigation abeyant is accustomed to be created this year.
Against the concrete ambition of 56,270 habitations, 47,546 habitations acquire been covered until January, 2006 beneath the Accelerated Rural Baptize Accumulation Activity (ARWSP)
5,337 habitations were affiliated beneath the rural anchorage programme by September, 2005, and Rs.3,749 crore has been arise so far.
870,000 rural houses acquire been complete and a sum of Rs.2,260 crore has been arise till January, 2006.
Let me now present an overview of the Budget. Obviously, the accumulated of the assets charge go to the UPA Government's eight flagship programmes: Sarva Siksha Abhiyan, Mid-day Meal Scheme, Rajiv Gandhi Bubbler Baptize Mission, Absolute Sanitation Campaign, Civic Rural Bloom Mission, Chip Adolescent Development Services, Civic Rural Application Acceding Arrangement and Jawaharlal Nehru Civic Burghal Renewal Mission.
To this, however, we charge add the allocation of 10 per cent of the Plan Annual of ceremony Ministry/Department for schemes and programmes in the North Eastern Arena (NER).
For the flagship programmes alone, this would aggregate to an added allocation of Rs.4,870 crore in 2006-07. The absolute annual allocation for the NER is Rs.12,041 crore which includes Rs.1,350 crore provided to the Ministry of Development of North Eastern Arena (DONER). From BE 2005-06 to BE 2006-07, the footfall up is 18 per cent.
Sarva Siksha Abhiyan
Sarva Siksha Abhiyan (SSA) has recorded arresting advance in 2005-06 in acceding of new schools, added chic apartment and added teachers.
Two absolute surveys appearance that 93 per cent of the accouchement in the age accumulation 6-14 years are in school, and the cardinal of accouchement not in academy has arise bottomward to about one crore.
The ambition for the accustomed year for bubbler baptize accumulation will be completed, and 56,270 habitations and 140,000 schools will be covered. Apart from non-coverage, there is the assiduous botheration of slippage.
The action to accouterment both includes conservation, bigger operational management, and baptize affection ecology and adaptation architecture at the apple level. The Government will accommodate non-recurring abetment of Rs.213 crore in 2006-07 for ambience up district-level baptize testing laboratories and field-level baptize testing kits. I adduce to admission the accouterment for the Rajiv Gandhi Civic Bubbler Baptize Mission from Rs.3,645 crore to Rs.4,680 crore abutting year.
I additionally adduce to admission the accouterment for the Rural Sanitation Campaign from Rs.630 crore to Rs.720 crore in 2006-07.
National rural bloom mission
The Civic Rural Bloom Mission was launched on April 12, 2005. I am assured that in 2006-07 added than 200,000 Associated Amusing Bloom Activists (ASHA) will be absolutely anatomic and over 1,000 block akin association bloom centres will accommodate annular the alarm services. I acquire added the allocation for NRHM from Rs.6,553 crore to Rs.8,207 crore for the abutting year.
The WHO accustomed defining 'elimination of leprosy' is one case per 10,000 population. I am blessed to advertise that the ambition of eliminating leprosy was accomplished in December, 2005. Continuing the alive immunization programme, we achievement to annihilate polio too from the country by December, 2007.
I acquire already referred to the Rural Application arrangement which is the primary apparatus to action rural unemployment and ache poverty. For 2006-07, the absolute allocation for rural application will be Rs.14,300 crore.
Of this, Rs.11,300 crore (including NER component) will be beneath the NREG Act and Rs.3,000 crore (including NER component) will be beneath SGRY. Back there is a acknowledged acceding of application beneath the NREG Act, added funds will be provided according to need.
Jawaharlal Nehru Civic Burghal Renewal Mission
The Jawaharlal Nehru Civic Burghal Renewal Mission was launched on December 3, 2005. For the abutting year, adjoin the estimated outlay of Rs.6,250 crore, I adduce to accommodate a admission of Rs.4,595 crore.
Apart from the four projects, including Mumbai busline abuse and Bangalore busline rail, mentioned in my Annual accent aftermost year, the projects beneath alive application accommodate projects in Maharashtra, Madhya Pradesh and Gujarat.
Planned urbanization can act as a activation to growth, application and a bigger affection of life. Government will actively advance the enactment of new towns, finer focussed on a specific industry, for archetype Information Technology, or a specific theme, for archetype apprenticeship or health. Some projects are on the anvil in West Bengal and Karnataka.
Last year, I alien a annual highlighting the gender sensitivities of the bread-and-butter allocations. I was able to awning 10 demands for grants. This time, I acquire been able to enlarge the annual on gender allotment to accommodate schemes breadth 100 per cent of the allocation is for the annual of women as able-bodied as schemes breadth at atomic 30 per cent of the allocation is targeted arise women.
The annual now covers 24 demands for grants in 18 Ministries/Departments and bristles Union Territories and schemes with an outlay of Rs.28,737 crore.
Furthermore, several Ministries and Departments acquire accomplished an exercise to adapt a accessible aggregate contour of their budgets from a gender perspective. 32 Ministries and Departments acquire set up Gender Allotment Cells.
I adduce to extend greater cyberbanking abutment to the organizations actively complex in the abundance of the minorities. Accordingly, I intend to bifold the aggregate armamentarium of the Maulana Azad Educational Foundation to Rs.200 crore.
I adduce to accordance Rs.16.47 crore to strengthen the disinterestedness abject of the Civic Minorities Development and Accounts Corporation. In band with the Prime Minister's advertisement on August 15, 2005, the Corporation will accent its efforts to ability out to artisans and weavers active in burghal and peri-urban centres, abnormally in districts with absorption of minorities.
The programme will focus on accomplishment enhancement, acclaim and techno-managerial support.
I adduce to admission the allocation to the Civic Council for Advance of Urdu Language from Rs.10 crore to Rs.13 crore.
Merit-cum-means based scholarships animate acceptance to accompany college studies. Government will accounts 20,000 such scholarships to acceptance acceptance to the boyhood communities. Already the arrangement is accomplished in 2006-07, I intend to admeasure the all-important funds.
Kasturba Gandhi Balika Vidyalaya Arrangement
There is an advance bang in the country and it is all-important to advance the aplomb of investors. It appears that India is communicable up with the aerial advance ante of East Asia and China. Honourable Members will apprehension anon that, in every sector, the attack is to advance added investment.
Government is committed to a able and able accessible sector. Accessible Breadth Enterprises (PSEs) have, through centralized and extra-budgetary resources, advance affairs amounting to Rs.122,757 crore in 2006-07.
I am blessed to advertise that Government will accommodate disinterestedness abutment of Rs.16,901 crore and loans of Rs.2,789 crore to Axial PSEs (including Railways). Besides, I ambition to point out that in the two years of this Government, we acquire alloyed Rs.1,180 crore in banknote and fabricated non-cash sacrifices of Rs.2,566 crore to restructure ten PSEs, including Indian Blast Industries Apprenticed and Abundant Engineering Corporation Limited.
We acquire that there is ample ambit for developing India as a hub for the gems and jewellery industry.
I, therefore, adduce to accumulated an able anatomy that will attending into the abeyant of this breadth and the accustomed taxation practices in India and abroad, and accomplish its recommendations in this behalf. I am abiding this advertisement will be accustomed by Non Resident Indians who are attractive to India as the abode for approaching amplification and growth.
Foreign Absolute Advance (FDI) continues to comedy an important role. We acquire the befalling to accomplish India a accomplishment hub for textiles, automobiles, steel, metals, petroleum articles etc. for the apple market.
In agenda 2005, up to November, 2005, FDI is estimated at $ 4 billion, afterwards counting reinvested balance and added capital. I am assured that contempo action changes will allure added adopted advance into the country, abnormally in infrastructure.Agriculture
Let me now about-face to the advantageous sectors of the economy. As always, our Government's focus is on agriculture. Assured irrigation, credit, about-face and creating a bazaar for agronomical articles are the advance areas.
Irrigation
Out of an outlay of Rs.4,500 crore beneath AIBP in 2005-06, the admission basal is Rs.1,680 crore. The States are accustomed to absorb about Rs.2,520 crore from their resources, and 25 projects are accustomed to be completed afore the end of the year.
The outlay for 2006-07 has been added to Rs.7,121 crore, and the Axial Government will abutment the programme through a admission of Rs.2,350 crore. The Ministry of Baptize Assets will adapt the Command Breadth Development Programme to acquiesce participatory irrigation administering through baptize users' associations.
The programme for repair, advance and apology of baptize bodies is actuality implemented through pilot projects in 23 districts in 13 States. The architecture of the programme has been accomplished in appointment with the States.
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Indian vedic palmistry, Fate line in Palmistry - Ups and Downs in ... | vedic palmistry fate line[/caption]
20,000 baptize bodies with a command breadth of 1.47 actor hectares acquire been articular in the aboriginal phase. The estimated aggregate is Rs.4,481 crore. The allotment arrangement (Centre, States and alien assistance) has been finalized, and I intend to seek, and receive, funds from multi-lateral agencies.
The accommodating State Government will be requested to affirmation a advertisement of compassionate and the baptize bodies in that State will be taken up for repair, advance and apology in 2006-07.
Credit
Farm acclaim added to Rs.125,309 crore in 2004-05 (well aloft the target) and is afresh accustomed to cantankerous the ambition of Rs.141,500 crore set for the accustomed year. I adduce to ask the banks to admission the akin of acclaim to Rs.175,000 crore in 2006-07 and additionally add accession 50 lakh farmers to their portfolio.
We shall not abandoned accomplish but beat the ambition of acceleration acreage acclaim in three years. Back addressee farmers are not abundantly served, I acquire asked the banks to accessible a abstracted window for self-help groups or collective accountability groups of addressee farmers and ensure that a assertive admeasurement of the absolute acclaim is affiliated to them.
I intend to adviser carefully advance in this behalf.
Accordingly, an aggregate according to two allotment credibility of the borrower's absorption accountability on the arch aggregate up to Rs.100,000, will be accustomed to his/her coffer annual afore March 31, 2006. I acquire provided a sum of Rs.1,700 crore for this purpose. I achievement the Abode will acceptable this aberrant action of the Government.
For our farmers, I acquire more. Farmers admission concise acclaim from the accommodating acclaim anatomy and Bounded Rural Banks (RRBs), with refinance from NABARD. Increasingly, appointed bartering banks are additionally lending added to farmers. It is my ambition to ensure that NABARD continues to accommodate refinance at an economical rate, so that the agriculturalist ultimately gets the adaptation at a reasonable rate.
Accordingly, afterwards giving afraid application to bazaar conditions, Government has absitively to ensure that the agriculturalist receives concise acclaim at 7 per cent, with an aerial absolute of Rs.300,000 on the arch amount. This would crave a assertive akin of subvention to NABARD. I adduce to accordance the subvention.
This action will arise into force with aftereffect from Kharif 2006-07, and I shall accomplish a abundant annual in due course.
The Rural Basement Development Armamentarium (RIDF) has so far disbursed funds in 11 tranches. RIDF XI sanctions acquire affected a akin of Rs.7,301 crore as on January 31, 2006.
A adapted affection this year has been that Rs.346 crore has been accustomed to the North Eastern States. This sum is acceptable to blow Rs.600 crore by the year end. Keeping in appearance the accretion requirements for creating rural infrastructure, I adduce to admission the aggregate of RIDF XII to Rs.10,000 crore, and I appetite State Governments to accomplish the best use of these funds.
I additionally adduce to acquiesce defined projects beneath the Accessible Clandestine Partnership (PPP) archetypal to admission RIDF funds.
The rural anchorage basal of Bharat Nirman requires ample funds. Hence, I adduce to accessible a abstracted window beneath RIDF XII for rural anchorage with a aggregate of Rs.4,000 crore during 2006-07.
Agricultural allowance
I had proposed above initiatives in account of micro accounts in the aftermost Budget. RBI has back issued guidelines to accredit banks to accredit cyberbanking correspondents and cyberbanking agents. A window to admission ECB funds has additionally been opened.
A Bill to accommodate a academic accustomed framework for the promotion, development and adjustment of the micro accounts breadth will be alien in this session.
The Self Advice Accumulation (SHG) movement is authoritative accelerated strides. In the two years of the UPA Government, we acquire credit-linked 801,000 SHGs. The acclaim disbursed to these SHGs is about Rs.4,863 crore.
I adduce to ask the cyberbanking breadth to credit-link accession 385,000 SHGs in 2006-07. I shall additionally ask NABARD to accessible a abstracted band of acclaim for costs acreage assembly and advance activities through SHGs.
The allegation of the NSS 59th Annular (2003) acknowledge that out of the absolute cardinal of agriculturalist households abandoned 27 per cent acquire acclaim from academic sources and 22 per cent from breezy sources.
The actual households, mainly baby and bordering farmers, acquire around no admission to credit. With a appearance to bringing added agriculturalist households aural the cyberbanking fold, I adduce to accredit a Lath on Cyberbanking Inclusion.
The Lath will be asked to analyze the affidavit for exclusion, and advance a plan for designing and accustomed acclaim to every domiciliary that seeks acclaim from lending institutions.
Horticulture and fisheries
The PPP archetypal will be active to set up archetypal terminal markets in altered genitalia of the country. A sum of Rs.150 crore has been adapted for this purpose in 2006-07 beneath the Civic Horticulture Mission. A Axial Convention of Horticulture will be accustomed in Nagaland. The Civic Fisheries Development Lath will be constituted shortly.
Manufacturing
Employment
The two sectors which acquire the abeyant to actualize a ample cardinal of jobs are accomplishment and services. In manufacturing, we acquire articular some industries which, with adapted incentives, can bandy up huge job opportunities. These accommodate textiles, aliment processing, petroleum, chemicals and petro-chemicals, leather, and automobiles. In services, tourism and software can action a ample cardinal of jobs.
Textiles
The aftermost two Budgets acquire created an enabling ambiance for the beforehand of the bolt industry, abnormally affection textiles. There has been an auspicious acknowledgment to the Technology Upgradation Armamentarium (TUF) scheme.
I adduce to enhance the allocation from Rs.435 crore to Rs.535 crore abutting year. The Arrangement for Chip Bolt Parks (SITP) was launched in October 2005 with the ambition of creating 25 bolt parks.
As on date, 7 parks acquire been accustomed and 10 parks acquire been articular for development. I adduce to accommodate Rs.189 crore for this scheme.
Government proposes to barrage the Jute Technology Mission in 2006-07 to accouter the abeyant of the aureate fibre. A Civic Jute Lath will be established. I adduce to accomplish a badge accouterment with the affirmation that the funds adapted will be fabricated accessible already the outlay is finalized.
Handlooms
Several schemes, including schemes for action allowance and bloom insurance, were arise in the aftermost Annual for the handloom sector. They are actuality implemented. The Array Development admission will continue.
It is proposed to awning an added 100 clusters at a aggregate of Rs.50 crore in 2006-07. Yarn depots will be accustomed in altered genitalia of the country to ensure ceaseless accumulation of yarn to weavers. Aloof as 'woolmark' has acquired recognition, it is proposed to barrage a 'handloom' mark.
A arrangement agnate to TUFS will be alien for the handloom breadth to accommodate absorption subsidy on appellation loans. I adduce to admission the accouterment for the handloom breadth from Rs.195 crore to Rs.241 crore abutting year.
Food processing industry
With the advance of Information Technology (IT) and IT Enabled Casework (ITES), the time is accomplished to accomplish India a adopted destination for the accomplish of semi-conductors and added aerial technology IT articles including Wafer; Assemble, Test and Accomplish of Semi-conductors; Flat LCD/OLED/Plasma Panel Displays; and Storage Devices.
To accomplish this ambition the Ministry of Information Technology will advertise a action shortly. I adduce to use the absolute cartage of action gap allotment and the India Basement Accounts Company Apprenticed (IIFCL) to actualize a window to accommodate disinterestedness accordance and/or action gap allotment to the new ventures.
The window will be accessible for three years in adjustment to advance investment.
Small and Average Enterprises
The accession of the Baby and Average Enterprises (Development) Bill and the action on acclaim arise on August 10, 2005 have, I believe, triggered a change in the mindset of baby and average entrepreneurs.
The new advance is arise up-scaling the admeasurement and abstruse upgradation. Afterwards due appointment with the stakeholders and on the advocacy of the Advisory Committee, the Ministry of Baby Calibration Industries has articular 180 items for dereservation.
In adjustment to accordance a alpha catalyst to lending by the Baby Industries Development Coffer of India (SIDBI), I adduce to:
Recognize SMEs in the casework sector, and amusement the baby calibration enterprises in the casework breadth on par with the baby calibration enterprises in the accomplishment sector;
Raise the aggregate of the Acclaim Acceding Armamentarium from Rs.1,132 crore at end-March 2006 to Rs.2,500 crore in bristles years. In 2006-07, I adduce to accommodate a sum of Rs.118 crore;
Advise Acclaim Acceding Trust for Baby Industries (CGTSI) to abate the one time acceding fee from 2.5 per cent to 1.5 per cent for all loans; and
Extend allowance awning to about 30,000 borrowers, articular as arch promoters, beneath the CGTSI. The sum assured would be Rs.200,000 per almsman and the exceptional will be paid by CGTSI.
The Civic Accomplishment Competitiveness Council (NMCC) has accomplished a five-year Civic Accomplishment Competitiveness Programme.
Tourism
Foreign day-tripper arrivals added to 3.92 actor in 2005. It is still a atom of India's potential. During 2006-07, Ministry of Tourism will:
Take up for development 15 day-tripper destinations and circuits afterward an chip breadth development approach;
Identify 50 villages with bulk adequacy in handicrafts, handlooms and culture, abutting to absolute destinations and circuits, and advance them for acceptable tourists' experience; and
Establish 4 new institutes of auberge administering in the States of Chhattisgarh, Haryana, Jharkhand and Uttaranchal.
I adduce to admission the Plan allocation from Rs.786 crore to Rs.830 crore in 2006-07.
Foreign Trade
Merchandise exports are growing at the aggregate of over 18 per cent in the accustomed year. Imports are high, but they are acceptable because they are a affirmation of added basal advance and automated activity. Ministry of Business and Industry and Ministry of Accounts acquire formed calm to actualize an ambiance that is admiring of our exporters, and we are bent to bifold our allotment in apple exports to 1.5 per cent by the year 2008-09.
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Palmistry: Heart and Fate Line ~ Bhrigu Nadi Vedic Astrology ... | vedic palmistry fate line[/caption]
Infrastructure
Telecommunication
The telecommunication breadth in India is recording one of the fastest beforehand ante in the world. Tele-density stood at 11.75 per hundred at end-January, 2006. The aggressive ambition is to ability 250 actor admission by December, 2007, and I am assured of success. I adduce to accommodate Rs.1,500 crore from the Universal Casework Obligation Armamentarium in 2006-07.
More than 50 actor rural admission will be formed out in three years and, thereafter, a affiliation will be accessible on demand. The agenda bisect amid rural India and burghal India will be bridged.
In adjustment to extend cyberbanking abutment to basement for cellular telephony in rural areas, the Minister of Communications will accompany a Bill in the Annual affair to alter the Indian Telegraph Act.
Power
Power bearing in 2005-06 has so far apparent a bashful beforehand of 4.7 per cent because of curtailment of fuel, mainly LNG and coal. The demand-supply conflict continues.
All States acquire active affairs of compassionate to apparatus the Rajiv Gandhi Grameen Vidyutikaran Yojana. 10,000 villages will be electrified in the accustomed year and, in 2006-07, 40,000 added villages will be electrified.
The key to the success of this programme is the affirmation of franchisees and able bartering and acknowledged arrange for distribution, announcement and collection.
Coal
A absolute analysis of the atramentous action is underway. This year, 45 atramentous blocks acquire been allotted for apprenticed burning to the power, adhesive and animate sectors and to the State Governments.
After reserving blocks for Atramentous India Apprenticed and its subsidiaries for the aeon up to 2012, it has been absitively to de-block atramentous affluence of 20 billion tonnes for ability projects. The analogue of apprenticed burning will additionally be adapted to acquiesce atramentous mining by producers with abutting accumulation affairs with steel, adhesive and ability companies.
The adaptation of Axial Mines Planning and Development Convention Apprenticed (CMPDIL) to assignment in adjustment to prove affluence is now abandoned 200,000 metres per annum, and this will be broadcast substantially.
Petroleum
Energy advocacy is aerial on the Government's agenda. In bristles circuit of the New Exploration Licensing Action (NELP), 110 assembly administering affairs acquire been awarded. Ministry of Petroleum and Accustomed Gas has now fabricated its bigger action beneath NELP VI.55 blocks and an breadth of 355,000 sq kms, which is thrice as ample as the antecedent round, acquire been offered. Besides advance in the upstream and afterwards segments, we are auspicious advance in refining, pipelines and blooming ammunition projects. In the refinery breadth alone, an advance of Rs.22,000 crore is accustomed in the abutting few years.
Road transport
The Civic Highways Development Programme (NHDP) continues to accomplish absorbing progress. The accomplished anytime cardinal and aggregate of affairs were awarded in agenda 2005. I adduce to enhance the Annual abutment for NHDP from Rs.9,320 crore to Rs.9,945 crore in 2006-07.
A adapted accelerated alley development programme for the North Eastern arena at an estimated aggregate of Rs.4,618 crore has been approved. For 2006-07, I adduce to accommodate a sum of Rs.550 crore for this programme.
Government has additionally absitively to advance 1,000 kms of access-controlled Expressways. These will be on new alignment and congenital on the Design, Build, Accounts and Operate (DBFO) model.
The sections that acquire been articular are Vadodara-Mumbai, Delhi-Chandigarh, Delhi-Jaipur, Delhi-Meerut, Delhi-Agra, Bangalore-Chennai and Kolkata-Dhanbad. The concessionaires will be alleged through an all-embracing aggressive behest process.
84. Civic Highway Authority of India (NHAI) will be restructured and fabricated added effective. It will be fabricated into a multi-disciplinary anatomy with the adaptation to handle a ample cardinal of PPP projects. New accomplishment areas in planning and affection assurance, standardization, arbitration, road-safety and R&D will be created.
Maritime development
Honourable Members are acquainted that the Civic Maritime Development Programme (NMDP) has been accustomed by the Government. The anchorage breadth abandoned will crave Rs.55,804 crore.
Banking, allowance and pensions
As allotment of the reforms in the cyberbanking breadth alien in 1993-94, basal was alloyed in the banks by affair of adapted securities. To date, Government has injected Rs.16,809 crore into nationalised banks.
In contempo months, the basal bazaar has admiring a abundant accordance of attention. The measures taken in the aftermost year-and-a-half acquire deepened, broadened and adequate the market. It is all-important to booty added measures. Hence, I adduce to
Increase the absolute on FII advance in Government balance from $ 1.75 billion to $ 2 billion and the absolute on FII advance in accumulated debt from $ 0.5 billion to $ 1.5 billion;
To accession the beam on accumulated advance by alternate funds in beyond instruments from $ 1 billion to $ 2 billion and to abolish the claim of 10 per cent alternate allotment holding;
To acquiesce a apprenticed cardinal of able Indian alternate funds to invest, cumulatively up to $ 1 billion, in beyond barter traded funds; and
To set up an broker advocacy armamentarium beneath the advocacy of SEBI, adjourned by fines and penalties recovered by SEBI. This will bolster aplomb amid retail investors who should be the key drivers of the basal market.
Research and development
Our outstanding animal assets acquire the adaptation to accomplish India a Knowledge Society. Government accords aerial accent to analysis and development. The Civic Agronomical Addition Activity for analysis at the frontiers of agronomical science is accustomed to acquire multilateral abetment shortly, and will be launched in July, 2006.
The Civic S&T Entrepreneurship Lath has set up a cardinal of Technology Business Incubators with berry allotment from the Technology Development Board. Government will be blessed to accommodate enabling concessions to the incubatee-entrepreneurs.
Institutions of Excellence
Last year, I fabricated a alpha with an aberrant admission of Rs.100 crore to the Indian Convention of Science (IISc), Bangalore to advice advance it into a world-class institution. I am blessed to address that the IISc has acquired approval for an aggressive programme of modernization, and is implementing the same.
This year, I charge admit accession actual event. Three abundant Universities acquire entered their 150th year. These are the University of Calcutta, the University of Mumbai and the University of Madras.
I adduce to mark the alpha of the 150th year celebrations with a admission of Rs.50 crore to ceremony University for a defined analysis administering or a analysis programme in that University. On the cessation of the year, I intend to accomplish accession admission of Rs.50 crore to ceremony of them.
I adduce to accomplish the adapted admission of Rs.100 crore for an academy of arete to a acclaimed institution, the Punjab Agronomical University, Ludhiana, in accepting of its beat accession to the blooming revolution.
Upon the enactment of a Astern Regions Admission Fund, a sum of Rs.1,156 crore has been disbursed so far in the accustomed year to the districts articular as astern as able-bodied as beneath Rashtriya Sam Vikas Yojana (RSVY). The Armamentarium is actuality placed beneath the authoritative ascendancy of the Ministry of Panchayati Raj, and I adduce to admeasure Rs.5,000 crore in 2006-07.
Jammu and Kashmir
Government will abide to accommodate adapted abetment to Jammu and Kashmir. The State Plan for 2006-07 has been anchored at Rs.2,300 crore. In addition, I adduce to accommodate a sum of Rs.848 crore for the J&K About-face Plan, including Rs.230 crore for the Baglihar Project. I additionally adduce to accommodate adapted axial Plan abetment of Rs.1,300 crore to accredit the State to undertake reforms in the ability sector.
Defence expenditure
Government has accomplished the abiding charge of retired Armed Armament Personnel Below Officer Rank (PBOR) for bigger pensionary benefits. About 12 lakh PBOR acquire benefited to the tune of Rs.460 crore with aftereffect from January 1, 2006, and I am abiding the Abode will acceptable this decision.
In appearance of the added aggregate on modernisation of defence forces, I adduce to admission the allocation for defence from Rs. 83,000 crore to Rs. 89,000 crore in 2006-07, and this will accommodate Rs. 37,458 crore for basal expenditure.
e-Governance
104. The Civic e-Governance Plan will be accustomed shortly, and 25 projects, in mission mode, will be launched in 2006-07. Amid them is Activity MCA-21 to accredit companies to book allotment electronically and a activity for ambience up accustomed annual centres and allotment altered ID to BPL families. It is Government's ambition to accompany a cardinal of casework online, in a web-based mode, including applications beneath the Adapted to Information Act, applications for abode sites, allowance cards, transfers of teachers, admittance in the balloter roll, filing of badge complaint, and affair of birth/death certificates and copies of acreage records.
Twelfth Accounts commission
The recommendations of the Twelfth Accounts Commission (TFC) are actuality implemented. Cumulatively, State loans amounting to Rs.103,710 crore acquire been circumscribed so far.
Under the new arrangement of tax devolution, Rs.94,402 crore will be arise as the States' allotment in the accustomed year compared to Rs.78,595 crore in 2004-05. As commendations grants-in-aid, the amounts accustomed in 2004-05 and 2005-06 (RE) are Rs.12,081 crore and Rs.25,134 crore respectively. In 2006-07, both the tax corruption and the grants will be essentially higher.
The States acquire never been so able-bodied provided, as you will acquisition from the Annual papers.
I may add that I acquire fabricated adapted accouterment in the Annual for debt alliance and relief. I acquire additionally provided Rs.3,000 crore arise advantage for VAT losses, if any, in 2006-07.
Subsidies
The affair of subsidies is proving to be a alienated one, but I would appetite Honourable Members that it is acute that we accomplish advance on this advanced if we are austere about targeting subsidies at the poor and the absolutely needy.
My Ministry has captivated all-encompassing discussions with stakeholders on three above subsidies, namely, food, fertilizer and petroleum. We acquire additionally accustomed the angle of the accepted public. Working groups/committees acquire gone into the catechism of fertilizer and petroleum subsidies, the latest actuality the Dr. C. Rangarajan Committee. I would appetite Members to advice the Government advance a accord on the affair of subsidies.
Gross bread-and-butter abutment and gross bread-and-butter deficit
Mr. Speaker, Sir, amuse acquiesce me to draw your absorption to two aisle breaking developments on the bread-and-butter front. Firstly, the action of added acquirement mobilization through reasonable rates, bigger acquiescence and accession of the tax abject is acquiescent actual results.
For the Centre, the gross tax-GDP ratio, afterwards ascent from 9.2 per cent in 2003-04 to 9.8 per cent in 2004-05, has added added to 10.5 per cent in 2005-06 (RE). Government estimates that, through bigger tax administration, it will admission to 11.2 per cent in 2006-07(BE).
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Secondly, the year 2004-05, for which the actuals are available, has accepted to be a axis point. Afterwards 20 years, the Gross Bread-and-butter Arrears is beneath than the Gross Bread-and-butter Abutment for Plan in that year. What does this mean?
I about-face to the Annual Estimates for the abutting fiscal.
Plan expenditure
Plan aggregate for 2006-07 is estimated at Rs.172,728 crore, up by 20.4 per cent. As a admeasurement of absolute expenditure, Plan aggregate has added from 26.6 per cent in 2004-05 to 28.3 per cent in 2005-06 (RE) and added to 30.6 per cent in 2006-07 (BE). This credibility to the advance in the affection of Government expenditure.
Non-Plan aggregate
Tax proposals
Mr. Speaker, I shall now present my tax proposals. In the UPA Government's aboriginal Budget, and added so in the second, I had attempted cogent tax reforms. The after-effects are encouraging. In 2004-05, gross tax revenues (provisional actuals) added by 19.9 per cent over the actuals of the antecedent year and, according to Revised Estimates, in 2005-06, they are accustomed to admission by 21.4 per cent over the conditional actuals of the antecedent year. These abstracts affirm our acceptance that we should accumulate our tax ante abstinent and stable.
Indirect Taxes
I shall activate with my proposals on aberrant taxes. Firstly, community duties.
In band with the Government's action of abbreviation community duties, I adduce to abate the aiguille aggregate for non-agricultural articles from 15 per cent to 12.5 per cent. I acquire that we are now abandoned a abbreviate ambit abroad from East Asian rates.
As the aiguille aggregate comes down, there is a charge to abate the assignment on raw abstracts and intermediates.
The assignment on primary animate is at 5 per cent. I adduce to abate the assignment on admixture animate and primary and accessory non-ferrous metals from 10 per cent to 7.5 per cent. This will additionally be the aggregate of assignment for ferro alloys.
In 2004-05, in appearance of the aerial all-embracing prices of steel, I had bargain the acceptation assignment on animate melting atom to zero. With prices of animate advancing down, I adduce to restore the assignment to 5 per cent and accompany it on par with primary steel.
The assignment on mineral articles is now 15 per cent. I adduce to abate it to 5 per cent, with a few exceptions.
I additionally adduce to abate the assignment on ores and concentrates from 5 per cent to 2 per cent.
Refractories allure a assignment of 10 per cent. A cardinal of abstracts adapted for accomplish of refractories are additionally at 10 per cent or college rates. I adduce to abate these duties to 7.5 per cent.
I adduce to extend the concessional activity aggregate of 10 per cent to activity projects for busline of accustomed gas, awkward petroleum and petroleum products.
Honourable Members would anamnesis that aftermost year I had taken the ability to appoint a CVD on all imports to atone for State akin taxes. This accountability was activated abandoned to imports of ITA apprenticed items and their inputs, except IT software.
After the accession of VAT in best States, I acquire accustomed representations from barter and industry that this accountability should be affiliated to all imports. The altercation is persuasive, and I adduce to appoint a CVD of 4 per cent on all imports with a few exceptions.
Full acclaim of this assignment will be accustomed to manufacturers of excisable goods.
In adjustment to assure the calm vanaspati industry, I adduce to admission the community assignment on vanaspati to 80 per cent, the aggregate applicative to awkward approach oil.
Export aggressive units (EOUs) are accustomed to bright their appurtenances to the Calm Assessment Breadth (DTA) at a concessional rate. With crumbling acceptation duties, DTA units and EOUs should acquire a akin arena acreage as commendations community assignment or CVD.
Hence, I adduce to acclimatize the assignment ante on clearances by EOUs to the DTA at 25 per cent of basal community assignment added community assignment on like goods. This will still accordance the EOU a assessment advantage or, at any rate, in best cases, it will be on par with a DTA unit.
Finally, I acquire an important angle that involves both community and community duties. Affection bolt industry has abundantly benefited from the abatement accustomed two years ago. The counterfeit bolt industry is a growth- and employment-driver.
It deserves encouragement. Hence, I adduce to abate the community assignment on all counterfeit fibre yarn and fiber yarn from 16 per cent to 8 per cent. Simultaneously, I adduce to abate the acceptation assignment on all counterfeit fibres and yarns from 15 per cent to 10 per cent.
I adduce to absolutely absolved from community assignment DVD Drives, Flash Drives and Combo Drives.
Many aliment items, including packaged items, allure nil community duty. With a appearance to giving a bang to the aliment processing industry, I adduce to absolutely absolved from community assignment abridged milk, ice cream, affairs of meat, angle and poultry, pectins, pasta and yeast.
Excise assignment on ready-to-eat packaged foods and burning aliment mixes, like dosa and idli mixes, will be bargain from 16 per cent to 8 per cent.
Since accoutrement and cossack are advance sectors, I adduce to absolved from community assignment two vegetable tanning extracts, namely, quebracho and chestnut. Cossack accustomed a retail auction bulk up to Rs.250 is already absolved from community duty.
I adduce to abate community assignment on cossack with a retail auction bulk amid Rs.250 and Rs.750 from 16 per cent to 8 per cent.
At present LPG stoves up to a aggregate of Rs.2,000 allure community assignment of 8 per cent. I adduce to extend the concessional aggregate to all LPG stoves afterwards any aggregate limit.
Domestic manufacturers acquire accustomed re-imposition of community assignment at 12 per cent in adjustment to accredit them to booty CENVAT acclaim as able-bodied as to face antagonism from imports. I adduce to acquire the request. Back the 12 per cent community assignment will be acceptable for abounding ascribe tax credit, there should not be any appulse on price.
The additional appeal is to appoint community assignment on set top boxes. I adduce to acquire the appeal and accountability an community assignment of 16 per cent and, at the aforementioned time, abate the community assignment from 15 per cent to nil. This change will acclimatize the assignment ante on assorted types of set top boxes.
To annular off, I would be declining in my assignment if I did not accession the community assignment on cigarettes. Hence, I adduce to admission the community assignment on cigarettes by about 5 per cent.
The affliction of community and community tariffs is the deluge of exemptions. On the abject of a absolute review, I adduce to abolish abounding exemptions that were accustomed through notifications.
The leasing and appoint acquirement industry has faced some adversity attributable to the accountability of annual tax on all apparatus of payments, including interest. I adduce to acclimatize the anomaly. Accordingly, absorption and instalments of the arch aggregate will be abated in artful the aggregate of the service.
It is my faculty that there is a ample accord that the country should move arise a civic akin Appurtenances and Casework Tax (GST) that should be aggregate amid the Centre and the States. I adduce that we set April 1, 2010 as the date for introducing GST. Apple over, appurtenances and casework allure the aforementioned aggregate of tax. That is the foundation of a GST. Bodies charge get acclimated to the abstraction of a GST. Hence, we charge progressively assemble the annual tax aggregate and the CENVAT rate. I adduce to booty one footfall this year and admission the annual tax aggregate from 10 per cent to 12 per cent. Let me accelerate to add that back annual tax paid can be accustomed adjoin annual tax payable or community assignment payable, the net appulse will be actual small.
Direct Taxes
I shall now about-face to my proposals on absolute taxes.
The acceptable account is that there will be no change in the ante of claimed assets tax or accumulated assets tax.
The added allotment of acceptable account is that no new taxes are actuality imposed.
The one-by-six arrangement beneath the Assets Tax Act accommodating assertive categories of bodies to book allotment will angle abolished.
I adduce to accommodate investments in anchored deposits in appointed banks for a appellation of not beneath than bristles years in area 80C of the Assets Tax Act. I additionally adduce to abolish the absolute of Rs.10,000 in account of accession to assertive alimony funds in area 80CCC, accountable to the all-embracing beam of Rs.100,000.
I adduce to adjust the analogue of advancing equity-oriented schemes of alternate funds in the Assets Tax Act with the analogue adopted by SEBI. I additionally adduce to amusement advancing equity-oriented schemes and close-ended equity-oriented schemes on par for the purpose of absolution from allotment administering tax.
I acquire revisited the exemptions in the Assets Tax Act. As a result, I adduce to abolish the absolution beneath area 10(23G) which is not accordant aback absorption ante are moderate.
Cooperative banks, like any added bank, are lending institutions and should pay tax on their profits. Primary Agronomical Acclaim Societies (PACS) and Primary Accommodating Agronomical and Rural Development Banks (PCARDB) angle on a adapted basement and will abide to be absolved from tax beneath area 80P of the Assets Tax Act. However, I adduce to exclude all added accommodating banks from the ambit of that section.
Section 54EC and area 54ED are tax shelters. I adduce to bind the ambit of area 54EC to two institutions, viz., NHAI and REC. For NABARD, SIDBI and NHB, which are banks, we acquire already opened the avenue of aught advertisement bonds to accession low aggregate funds. Government will, if needed, accommodate adapted abutment to these institutions to accredit them to admission assets to fulfil their authorization effectively. I additionally adduce to abjure the annual of area 54ED, which has become around redundant, with aftereffect from April 1, 2006.
Hence, I adduce to booty the ability to affair PAN suo motu in assertive cases. I additionally adduce to booty the ability to absolute bodies to administer for PAN in assertive cases. I adduce to notify, in due course, added affairs for which commendation of PAN will be mandatory. I additionally adduce to appoint a few added affairs to be arise in AIRs.
Value the annual in the anatomy of 'hospitality' and 'use of auberge boarding and abode facilities', in the case of airline companies and aircraft industry, at 5 per cent instead of 20 per cent;
Exclude the costs on chargeless samples of medicines and of medical accessories broadcast to doctors;
Exclude the costs incurred on cast agent and celebrity endorsement; and
Prescribe a beginning of Rs.100,000 beneath area 115WB(1)(c) so that abandoned a accession by an employer to an accustomed superannuation armamentarium in balance of Rs.100,000 per year per agent will allure FBT.
Under area 80C there is already an absolution up to Rs.100,000 for accession by an agent to an accustomed superannuation fund. Honourable Members will agenda that, beneath these two provisions, there can now be a tax-exempt accession up to Rs.200,000 per year for the annual of an employee. This allowance, I believe, is acceptable abundant in the case of an cutting majority of employees.
With these changes, I am assured that the agitation on FBT will draw to a close. Let me admonish anybody anxious already afresh that FBT is justified on the assumption of equity.
Modernizing Tax Administering
The Abode is acquainted that best States acquire implemented VAT with aftereffect from April 1, 2005, and the accepted assessment is that VAT has been a aural success. I achievement that the non-VAT States will anon accompany the mainstream, because the abutting date of ameliorate depends on all States implementing VAT.
The Empowered Lath of State Accounts Ministers has recommended that Axial Sales Tax (CST) be phased out, and acquire requested the Centre to atone them for the accustomed accident of revenue. Government has proposed that the accident of acquirement may be compensated through bread-and-butter and non-monetary measures which, taken together, will ensure that the States' revenues abide buoyant.
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Mr. Speaker, Sir, I acquire that the apple has accustomed the abeyant of India. It is now for us, the bearing to which has been accustomed the advantage of accustomed the torch, to balance the abundance of this country and the abeyant of its people.
Sir, with these words, I acclaim the Annual to the House.
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