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Fiscal
deficit contained at 5.1 per cent of the GDP in 2000-01;
combined fiscal deficit of centre and state at 10 per cent.
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Centre
targets mopping up Rs 12,000 crore through PSU disinvestment
during 2001-02; privatisation to be accelerated.
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Budgetary
support for central, state and union territories goes up by 16 per
cent to Rs 13,862 crore.
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Total
expenditure in the Budget estimated at Rs 375,223 crore in
2001-02.
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Gross
budgetary support for Central Plan enhanced to Rs 59,456
crore from Rs 48,269 crore in the current fiscal year.
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Postal
rates to be revised to contain deficit.
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Facility
of LTC to Central Government employees to be suspended for two
years.
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Administered
interest rates to be reduced by 1 to 1.5 per cent points as of
March 1, 2001.
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Interest
rates on loans portion of Central assistance to state Plans being
reduced by 50 basis points.
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Nabard
to cut lending rates from 11.5 to 10.5 per cent.
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The
40 per cent limit of investment in a company under the portfolio
investment route by FIIs being increased to 49
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Companies
issuing ADRs and GDRs to be allowed to make foreign investments up
to 100 per cent of these proceeds; up from current ceiling of 50
per cent.
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Indian
companies may now invest abroad up to 50 million dollars annually
through the automatic route.
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Indian
companies that had issued ADRs and GDRs may acquire shares of
foreign companies up to an amount of 100 million dollars or an
amount equivalent to 10 times of their exports in a year.
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Foreign
investors bringing in a minimum of 50 million dollars FDI in
non-banking financial companies need not be accompanied with a
divestment of minimum of 25 per cent of their holdings in the
domestic market.
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Banking
service recruitment boards to be abolished by July 31, 2001. Banks
to do all future recruitments themselves.
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RBI
to set up an electronic negotiated dealing system by June 2001 to
facilitate transparent electronic bidding in auctions and dealing
in government security on a real-time basis.
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Public
Debt Act to be replaced by Government Security Act.
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Government
to set up seven more debt recovery tribunals during 2001-2002.
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As
part of state fiscal reforms, Rs 4243 crore provided towards
incentive fund to encourage states to implement monitorable fiscal
reforms.
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Devolution
of Central taxes to states is expected to go up by about Rs 9,000
crore in 2001-2002 over the current year.
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Non-plan
expenditure of Centre is estimated to go up to Rs 2,75,123 crore
in 2001-2002 as against Rs 2,49,285 crore in revised estimates for
2000-2001.
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Recommendations
of the Expenditure Reforms Commission to be implemented by July
31, 2001 and identified surplus staff transferred to surplus pool.
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Centre
sets up a high-level expert group to review the pension system;
employees entering Central Government services after October 1,
2001, to receive pension through a new programme based on defined
contributions.
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Rent
(standard licence fee) on government accommodation being enhanced
from April 1 this year.
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In
the agricultural sector Centre proposes to remove inter-state
movement of foodgrains; Essential Commodities Act, 1995 to be
reviwed; the number of commodities declared as essential under the
Act to be brought down.
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Financial
assistance to state governments to enable them to procure and
distribute foodgrains to BPL families at subsidised rates under
PDS.
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Kisan
credit cards (KCC) to all eligible farmers within three
years and the holders to get personal insurance package to
cover them against accidental death or permanent disability
on
subsidised premia.
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Nabard
to reduce interest rates for funding the storage of crops from 10
per cent to 8.5 per cent.
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Technology
mission for integrated development of horticulture in the
north-eastern states with a corpus of Rs 38 crore.
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Centre
proposes Rs 750 crore for rural electrification to be completed
within next six years.
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A
time bound programme to installation of 100 per cent metering by
december 2001.
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Energy
audit at all levels.
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Allocation
to the accelerated power development programme (APDP) stepped up
to Rs 1,500 crore from Rs 1,000 in 2000-2001.
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Commercialisation
of power distribution , SEBs restructuring.
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Prior
government approval not required for effecting lay-off,
retrenchment and closure by industrial establishments employing
less than 1000 workers; separation compensation increased to 45
days from 15 days for every completed year of service.
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Government
to announce policy ( Ashraya Bima Yojana) to provide compensation
to workers who lose their jobs.
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Pradhan
Mantri Gram Sadak Yojana with a fund of Rs 2,500
crore to provide connectivity of every village with a population
of over 1,000 persons by 2003 and with a population of up to 500
persons by 2007.
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In
the SSI sector 14 items related to leather goods, shoes and toys
to be dereserved.
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The
exemption limit has been doubled to Rs 1 crore September 1, 2000.
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Plan
allocation for Ministry of Health and Family Welfare goes up to Rs
5780 crore from Rs 4920 crore; Rs 180 crore provided for HIV/AIDS
control programme.
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New
comprehensive commercial bank scheme for educational loans to
cover all courses in schools and colleges in India and abroad; up
to Rs 7.5 lakh of loan for studies in India and Rs 15 lakh for
abroad.
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All
existing and on-going schemes on elementary education to converge
into an integrated national education programme.
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Integrated
schemes for women’s empowerment in 650 blocks through women’s
self-help groups being launched.
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IRDA
to look into social security issues of the unorganised sector and
provide a road map for pension reforms by October 1, 2001.
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Allocation
for welfare schemes for uplift of SC/ST enhanced.
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As
first step towrads full decontrol of sugar futures/forward trading
to be introduced; the retail price under PDS being revised to Rs
13.25 a kg from March 1, 2001.
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The
allocation for textiles enhanced by more than 50 per cent to Rs
650 crore from Rs 457 crore this year.
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Journalists
welfare fund being set up with a contribution of Rs 1 crore.
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The
deadline of March 2002 for dismantling of the APM in the petroleum
sector to be adhered to. PTI