Impact

FINANCE MINISTER

INDIA NEW DELHI - 110001

FOREWORD

In keeping with the endeavour of the Government of India to promote transparency and accountability, a Brochure containing the status of implementation of announcements made in the Budget for 2011-12 has been compiled.

[Pranab Mukherjee]

I am happy to place this Brochure before the House.

Table of Contents

S. No.	Para No. *(in the Budget* *Speech of* *2011-12)*		Subject		Page
1.	18		Introduction of Bill to amend the FRBM Act		1
2.	19		Amendment/enactment of FRBM Acts by the respective State Governments		1
3.	20		Introduction of Public Debt Management Agency of India Bill		1
4.	22		Introduction of Direct Taxes Code (DTC)		1
5.	23		Introduction of Constitution Amendment Bill towards roll out of GST		1
6.	24		Setting up of a Pilot portal by NSDL for establishing and operating IT backbone for GST		2
7.	25		Setting up of a Committee for classification of public expenditure between plan, non-plan, revenue and capital spending		2
8.	26		Extension of Nutrient Based Subsidy regime to urea		2
9.	28		Report of Task Force on proposed direct transfer of subsidy for kerosene, LPG and fertilizers		3
10.	30		To maintain the momentum on disinvestment by raising ` 40,000 crore		3
11.	31		Further liberalizing FDI policy		3
12.	32		Foreign Institutional Investors		4
13.	33		Raising the limit of investment in corporate bonds by FIIs		4
14.	34		Moving various legislations in financial sector		4
15.	35		Amendments in the Banking Regulation Act to facilitate grant of additional banking licenses to private sector players		5
16.	36		Public Sector Bank Recapitalisation		5
17.	37		Recapitalisation of Regional Rural Banks		5
18.	38		Setting up Women�s SHG�s Development Fund		6
19.	39		Raising corpus of Rural Infrastructure Development Fund		6
20.	40		Providing additional funds to SIDBI for refinancing incremental lending by Banks to MSMEs		6
21.	41		Providing ` 3000 crore to NABARD to enable handloom weaver cooperative societies to repay their debts		7
22.	42		Increasing target of outstanding loans to minority communities by PSBs to 15 per cent		7
23.	43		Liberalizing interest subvention scheme on housing loans		7
24.	44		Enhancement of house loan limit under priority sector lending		7
25.	45		Enhancement of provision under Rural Housing Fund		7
26.	46		Creation of Mortgage Risk Guarantee Fund under RAY		8
27.	47		Setting up of Central Electronic Registry under the SARFAESI Act, 2002		8
28.	48		Notification of Financial Sector Legislative Reforms Commission		8
29.	49		Re-introduction of Companies Bill		8
30.	51		Enhancement of allocations for RKVY		8
31.	52		Enhanced allocation for bringing green revolution		9
32.	53		Integrated Development of pulses villages in rainfed areas		9
33.	54		Promotion of Oil Palm Plantation		9
34.	55		Initiatives on Vegetable Clusters		10
35.	56		Promotion of higher production of Nutri-cereals		10
36.	57		National Mission for Protein Supplements		10
37.	58		Accelerated Fodder Development Programme		11
38.	61		National Mission for Sustainable Agriculture-Promotion of organic farming		11
39.	62		Stepping up direct lending for agriculture credit by Banks		11
40.	63		Enhancement of additional interest subvention to farmers		12
41.	64		To provide funds to NABARD�s short-term Rural Credit Fund		12
42.	65		Setting up of more Mega Food Parks		12
43.	66		Creation of Storage Capacity and Cold Chains under Rural Godown Scheme		13
44.	67		Setting up of more Cold storage projects		13
45.	68		Recognizing cold chains and post- harvest storage as infrastructure sub-sector		13
46.	69		Review of Agriculture Produce Marketing Acts by State Governments		13
47.	71		Comprehensive policy on developing Public-Private Partnerships		14
48.	72		Long term financial assistance to infrastructure projects by IIFCL		14
49.	73		Allowing issue of infrastructure Tax free bonds by various Govt. undertakings		14
50.	74		Creation of Special Vehicles in the form of notified Infrastructure Debt Funds		14
51.	75		National Manufacturing Policy		15
52.	76		Recommendations of two Committees for greater transparency and accountability in procurement policy		15
53.	77		Recommendations of Group of Ministers on environmental concerns		15
54.	78		Launching of National Mission for Hybrid and Electric Vehicles		15
55.	79		Providing financial assistance to ongoing and new Metro projects	16
56.	80		Including capital investment in fertiliser production as an infrastructure sub-sector	16
57.	81		Action on remaining suggestions made by the Task Force on Transactions Cost	16
58.	82		Introduction of self-assessment in Customs	16
59.	83		Introduction of a scheme for refund of taxes paid on services used for export of goods	16
60.	84		Setting up of mega leather clusters and handicraft mega cluster	17
61.	87		Setting up of a dedicated Cell for Exchange of Tax Information	17
62	89		Commissioning of a study on unaccounted income/wealth	17
63.	90		Comprehensive national policy on management of
			Narcotic Drugs and Psychotropic Substances	17
64.	91		National Food Security Bill (NFSB)	17
65.	92		Providing Rural Broadband Connectivity to Panchayats	18
66.	93		Indexing wage rates under MGNREGA	18
67.	94		Enhancement of remuneration of Anganwadi workers	18
68.	96		Enhancing the allocation for Education Sector	19
69.	97		Enhanced allocation for Sarva Shiksha Abhiyan	19
70.	98		Introduction of a scholarship scheme for SC and ST students studying in classes IX and X	19
71.	99		National Knowledge Network	20
72.	100		Setting up of State Innovation Councils	20
73.	101		Special grants to universities and academic institutions	20
74.	102		Enhanced allocation for National Skill Development Fund	21
75.	103		Celebrations of 150^th Birth Anniversary of Gurudev Rabindranath Tagore	21
76.	104		Extending Rashtriya Swasthya Bima Yojana to unorganized sector workers	21
77.	105		Providing Banking facilities to remaining habitations with a population of over 2000	22
78.	106		Relaxing norms under Swavalamban scheme	22
79.	107		Relaxation of norms under Indira Gandhi National Old Age Pension Scheme	22
80.	108		Allocation for Green India Mission	23
81.	109		Allocation for National Clean Energy Fund	23
82.		110	Cleaning of Rivers and Lakes	23
83.		112	Providing additional funds for identified projects in Ladakh and Jammu	23
84.		114	Integrated Action Plan for Left Wing Extremism affected Districts	23
85.		115	Ex-gratia compensation to personnel of Defence and Para-military forces disabled while engaged in tackling Left Wing Extremism	24
86.		117	Enhanced provision for speeding up of delivery of justice	24
87.		119	Canvassing �caste� as a separate exercise in Census 2011	24
88.		120	Aadhar numbers under UID Mission	25
89.		121	IT initiatives in CBDT and CBEC	25
90.		122	Mission Mode Projects for computerization of Commercial Taxes in States	26
91.		123	Amendment of Indian Stamp Act, 1899	26
92.		124	Launching a new scheme by providing assistance to States to modernize their stamp and registration administration	26
93.		125	Introduction of a new simplified return form �Sugam�	27
94.		126	Setting up more Benches of Settlement Commissions	27
95.		128	Recommendations of GoM on tackling corruption	27
96.		129	Performance Monitoring and Evaluation System	27
97.		130	Working out modalities for implementation of Technology Advisory Group for Unique Projects (TAGUP) recommendations	27
98.		131	Issue of new series of coins with ` symbol	28
99.		144	Measures for attracting foreign funds for infrastructure	28
100.		147	To extend benefit of Investment Linked deduction to producers of Fertilisers	28
101.		148	To extend benefit of Investment Linked deduction to businesses which develop affordable housing	28
102.		149	Enhancement of weighted deduction on payments made to National Laboratories etc. for scientific research	28
103.		150	Strengthening system of collection of information from foreign tax jurisdictions	29
104.		177	Extending scope of exemption for works of art and antiquities	29
105.		184	Achieving a closure fit between present service tax regime and its GST successors	29
106.		194	To initiate public debate on desirability to tax services based on a small negative list	30

Budget 2011-2012

Previous reported on January 31, 2012

S.No.	Para No.	Budget Announcement	Status of Implementation
1.	18.	Fiscal Consolidation The experience with Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act) at Centre and the corresponding Acts at State level show that statutory fiscal consolidation targets have a positive effect on macroeconomic management of the economy. In the course of the year the Central Government would introduce an amendment to the FRBM Act, laying down the fiscal road map for the next five years. [Nodal Ministry/Department: D/o Economic Affairs]	The proposed Bill to amend the FRBM Act is expected to be presented in the Budget Session 2012. *Work in progress*
2.	19.	The Thirteenth Finance Commission has worked out a fiscal consolidation road map for States requiring them to eliminate revenue deficit and achieve a fiscal deficit of 3 per cent of their respective Gross State Domestic Product latest by 2014-15. It has also recommended a combined States� debt target of 24.3 per cent of GDP to be reached during this period. The States are required to amend or enact their FRBM Acts to conform to these recommendations. [Nodal Ministry/Department: D/o Expenditure]	A detailed letter indicating fiscal consolidation roadmap during award period of the Thirteenth Finance Commission has been sent to all State Governments. So far, 24 States (out of 28) have enacted/amended their FRBM acts as prescribed by the Thirteenth Finance Commission (including two States, which have done so through Ordinances). *Action completed*
3.	20.	The Government has been in the process of setting-up an independent Debt Management Office in the Finance Ministry. A Middle Office is already operational. As a next step, I propose to introduce the Public Debt Management Agency of India Bill in the next financial year. [Nodal Ministry/Department: D/o Economic Affairs]	Draft Legislation/Bill has been prepared and efforts are being made to introduce the Bill in the Budget Session of Parliament, 2012. *Work in progress*
4.	22.	As Hon�ble Members are aware, the Direct Taxes Code Bill was introduced in Parliament in August, 2010. After receiving the report of the Standing Committee, we shall be able to finalise the Code for its enactment during 2011-12. This has been a pioneering effort in participative legislation. The Code is proposed to be effective from April 1, 2012 to allow taxpayers, practitioners and administrators to fully understand the legislation and adjust to the revised procedures. [Nodal Ministry/Department: D/o Revenue]	The DTC Bill is under active consideration with the Standing Committee on Finance (SCF). Necessary action will be taken as soon as the report of the SCF is received. *Work in progress*
5.	23.	Unlike DTC, decisions on the GST have to be taken in concert with the States with whom our dialogue has made considerable progress in the last four years. Areas of divergence have been narrowed. As a step towards the roll-out of GST, I propose to introduce the Constitution Amendment Bill in this session of Parliament. Work is also underway on drafting of the model legislation for the Central and State GST. [Nodal Ministry/Department: D/o Revenue]	A Bill to further amend the Constitution to enable introduction of Goods and Services Tax (GST) has been introduced in Lok Sabha on March 22, 2011. Based upon the directions of sub-working groups of the Empowered Committee, discussion paper on key concepts of GST is under finalization. The same will be discussed in the sub- working group of officers. Once a consensus is reached on the key concepts, drafting of legislation for the Centre and the States will be taken up. *Action completed*

24.

Among the other steps that are being taken for the introduction of GST is the establishment of a strong IT infrastructure. We have made significant progress on the GST Network (GSTN). The key business processes of registration, returns and payments are in advanced stages of finalisation. The National Securities Depository Limited (NSDL) has been selected as technology partner for incubating the National Information Utility that will establish and operate the IT backbone for GST. By June 2011, NSDL will set up a Pilot portal in collaboration with eleven States prior to its roll out across the country.

[Nodal Ministry/Department: D/o Revenue]

Empowered Committee of State Finance Ministers has given its approval for setting up an SPV for GST, to be called GSTN and Cabinet approval for the same is being sought. However, on pilot basis, NSDL has already initiated pilot project with 11 States.

Action completed

25.

Expenditure Reforms

The effective management of public expenditure is an integral part of the fiscal consolidation process. Expenditure has to be oriented towards the production of public goods and services. The extant classification of public expenditure between plan, non-plan, revenue and capital spending needs to be revisited. This is necessary as one recognises the importance of service sector and the knowledge economy for our development. A Committee under Dr. C. Rangarajan has been set up by the Planning Commission to look into these issues.

[Nodal Ministry/Department: Planning Commission]

The Committee set up under the Chairmanship of Dr. C. Rangarajan has submitted its report.

Action completed.

26.

Subsidies

During the year 2010-11, the Nutrient Based Subsidy (NBS) policy was successfully implemented for all fertilisers except urea. The policy has been well received by all stakeholders, and the availability of fertilisers has improved. The extension of the NBS regime to cover urea is under active consideration of the Government.

[Nodal Ministry/Department: D/o Fertilizers]

A Committee of Secretaries, constituted by the Group of Ministers (GoM) has made recommendation on pricing of existing urea units. After deliberations by the GoM, it was decided to place the report of the CoS on Nutrient Based Subsidy in urea sector before the CCEA for consideration. CCEA note incorporating comments of all Ministries/ Departments is being finalized.

Work in progress

	27.	The Government provides subsidies, notably on fuel and food grains, to enable the common man to have access to these basic necessities at affordable prices. A significant proportion of subsidised fuel does not reach the targeted beneficiaries and there is large scale diversion of subsidised kerosene oil. A recent tragic event has highlighted this practice. We have deliberated for long the modalities of implementing such subsidies. The debate now has to make way for decision. To ensure greater efficiency, cost effectiveness and better delivery for both kerosene and fertilisers, the Government will move towards direct transfer of cash subsidy to people living below poverty line in a phased manner.	(To be read with para 28)
9.	28.	A task force headed by Shri Nandan Nilekani has been set-up to work out the modalities for the proposed system of direct transfer of subsidy for kerosene, LPG and fertilisers. The interim report of the task force is expected by June 2011. The system will be in place by March 2012. [Nodal Ministries/Departments: M/o Petroleum & Natural Gas, D/o Fertilizers]	(To be read with para 27) The Interim Report of the Task Force has been submitted on July 5, 2011. The recommendations of the Task Force on direct transfer of cash subsidy for PDS Kerosene and LPG have been accorded �in-principle� approval by the EGoM on under-recoveries of oil marketing companies. Pilot Studies on LPG and Kerosene are underway. Depending on the outcome of the pilot study, similar exercises will be initiated in more States. As regards transfer of direct subsidy in fertilizers, the Taskforce has recommended a phased approach in 3 phases. Work on phase-I is in progress, phase-II regarding direct transfer of subsidy to retailer is likely to be completed by Kharif 2012 and phase-III regarding subsidy to farmers will be taken up only after stabilization of phase-II. *Work in progress*
10.	30.	As against a target of Rs. 40,000 crore, the Government will raise about Rs. 22,144 crore from disinvestment in 2010-11. A higher than anticipated realisation in non-tax revenues has led us to reschedule some of the divestment issues planned for the current year. I intend to maintain the momentum on disinvestment in 2011-12 by raising Rs. 40,000 crore. Let me reiterate here that the Government is committed to retain at least 51 per cent ownership and management control of the CPSUs, as stated earlier in my Budget speech for 2009-10. [Nodal Ministry/Department: D/o Disinvestment]	To maintain the momentum of disinvestment, during 2011-12, the CCEA has approved disinvestments in SAIL, ONGC, HCL, PFC, BHEL and NBCC. While the FPO of PFC has been completed and the Government has garnered Rs. 1144.56 crore, the other issues are likely to be completed by the end of the current financial year. Other cases will be firmed up in consultation with concerned Ministries and Central Public Sector Enterprises. *Work in progress*
11.	31.	Investment Environment Foreign Direct Investment To make the FDI policy more user-friendly, all prior regulations and guidelines have been consolidated into one comprehensive document, which is reviewed every six months. The last review has been released in September 2010. This has been done with the specific intent of enhancing clarity and predictability of our FDI policy to foreign investors. Discussions are underway to further liberalise the FDI policy. [Nodal Ministry/Department: D/o Industrial Policy & Promotion]	The Fourth FDI policy document has been released on September 30, 2011 liberalising the policy on FDI in single-brand retail trading, by raising the existing FDI cap, from 51 per cent to 100 per cent subject to specified conditions. *Action completed*

12.

32.

Foreign Institutional Investors

Currently, only FIIs and sub-accounts registered with the SEBI and NRIs are allowed to invest in mutual fund schemes. To liberalise the portfolio investment route, it has been decided to permit SEBI registered Mutual Funds to accept subscriptions from foreign investors who meet the KYC requirements for equity schemes. This would enable Indian Mutual Funds to have direct access to foreign investors and widen the class of foreign investors in Indian equity market.

[Nodal Ministry/Department: D/o Economic Affairs]

SEBI has issued circular on August 9, 2011, permitting foreign investors [termed as Qualified Foreign Investors (QFIs)] to access Indian Mutual Funds (MFs) equity schemes and debt schemes investing in infrastructure sector.

Action completed

13.

33.

To enhance the flow of funds to the infrastructure sector, the FII limit for investment in corporate bonds, with residual maturity of over five years issued by companies in infrastructure sector, is being raised by an additional limit of US Dollar 20 billion taking the limit to US Dollar 25 billion. This will raise the total limit available to the FIIs for investment in corporate bonds to US Dollar 40 billion. Since most of the infrastructure companies are organised in the form of SPVs, FIIs would also be permitted to invest in unlisted bonds with a minimum lock-in period of three years. However, the FIIs will be allowed to trade amongst themselves during the lock-in period.

[Nodal Ministry/Department: D/o Economic Affairs]

SEBI has issued a circular on March 31, 2011, raising the limit for FII investment in long term Corporate Bonds issued by the Companies in the infrastructure sector from USD 5 Billion to USD 25 Billion.

Action completed

14.

34.

Financial Sector legislative Initiatives

The financial sector reforms initiated during the early 1990s have borne good results for the Indian economy. The UPA Government is committed to take this process further. Accordingly, I propose to move the following legislations in the financial sector:

		(i) The Insurance Laws (Amendment) Bill, 2008;	The Bill, was introduced in Rajya Sabha on December 22, 2008 and referred to Standing Committee on Finance. The Standing Committee has since submitted its report, which is being examined.
		(ii) The Life Insurance Corporation (Amendment) Bill, 2009;	The LIC (Amendment) Act, 2011 has been notified on January 13, 2012.
		(iii) The revised Pension Fund Regulatory and Development Authority Bill, first introduced in 2005;	The Bill has been introduced in Lok Sabha on March 24, 2011.
		(iv) Banking Laws Amendment Bill, 2011;	The Bill has been introduced in Lok Sabha on March 22, 2011.
		(v) Bill on Factoring and Assignment of Receivables;	The Bill has been introduced in Lok Sabha on March 24, 2011.
		(vi) The State Bank of India (Subsidiary Banks Laws) Amendment Bill, 2009; and	The SBI (Subsidiary Banks Laws) Amendment Act, 2011 has since been notified.
		(vii) Bill to amend RDBFI Act 1993 and SARFAESI Act 2002. [Nodal Ministry/Department: D/o Financial Services]	The Bill has been introduced in Lok Sabha on December 12, 2011. *Action completed*
15.	35.	In my last Budget speech, I had announced that Reserve Bank of India would consider giving some additional banking licences to private sector players. Accordingly, RBI issued a discussion paper in August, 2010, inviting feedback from the public. RBI has proposed some amendments in the Banking Regulation Act. I propose to bring suitable legislative amendments in this regard in this session. RBI is planning to issue the guidelines for banking licences before the close of this financial year. [Nodal Ministry/Department: D/o Financial Services]	RBI has released draft Guidelines for licensing of new Banks in the private sector seeking views/comments from different stakeholders. Based on the feedback received, Guidelines will be finalized and issued by RBI. Besides, the Banking Laws Amendment Bill, 2011 has been introduced in Lok Sabha on March 22, 2011. *Action completed*
16.	36.	Public Sector Bank Recapitalisation During the year 2010-11, the Government is providing a sum of Rs. 20,157 crore for infusion in the Public Sector Banks to maintain Tier I Capital to Risk Weighted Asset Ratio (CRAR) at 8 per cent and increase government equity in some banks to 58 per cent. I propose to provide a sum of Rs. 6,000 crore for the year 2011-12 to enable Public Sector Banks to maintain a minimum Tier I CRAR at 8 per cent. [Nodal Ministry/Department: D/o Financial Services]	An amount of Rs. 1,000 crore has been transferred to NABARD. The amount available for capitalization of PSBs is Rs. 5,000 crore. An additional amount of Rs. 6,000 crore has been provided in RE 2011-12. *Action completed*
17.	37.	Recapitalisation of Regional Rural Banks As a part of financial strengthening of Regional Rural Banks, an amount of Rs. 350 crore was given to these banks during this year. I propose to provide Rs. 500 crore during 2011-12 to enable them maintain a CRAR of at least 9 per cent as on March 31, 2012. [Nodal Ministry/Department: D/o Financial Services]	Rs. 500 crore have been provided during 2011-12 and an amount of ` 110.83 crore has already been released to 10 Regional Rural Banks. *Action completed*

18.

38.

Micro Finance Institutions

The Micro Finance Institutions (MFIs) have emerged as an important means of financial inclusion. Creation of a dedicated fund for providing equity to smaller MFIs would help them maintain growth and achieve scale and efficiency in operations. I propose to create in the course of the year, �India Microfinance Equity Fund� of Rs. 100 crore with SIDBI. To empower women and promote their Self Help Groups (SHGs), I propose to create a �Women�s SHG�s Development Fund� with a corpus of Rs. 500 crore. The Committee set up by RBI to look into issues relating to micro finance sector in India has submitted its report. The Government is considering putting in place appropriate framework to protect the interests of small borrowers.

[Nodal Ministry/Department: D/o Financial Services]

For setting up of India Micro Equity Fund (IMEF), guidelines have been approved. Necessary budget provision has been made and sanction order is being issued.

Approval of the Cabinet to create a �Women�s SHG�s Development Fund� with a corpus of Rs. 500 crore is being obtained.

Necessary action is underway for seeking approval of the Cabinet on draft Micro Finance Institutions (Development and Regulation) Bill.

Action partially completed

19.

39.

Rural Infrastructure Development Fund

The Rural Infrastructure Development Fund (RIDF) is an important instrument for routing bank funds for financing rural infrastructure. This is popular among State Governments. I propose to raise the corpus of RIDF XVII to Rs. 18,000 crore in 2011-12 from Rs. 16,000 crore in the current year. The additional allocation would be dedicated to creation of warehousing facilities.

[Nodal Ministry/Department: D/o Financial Services]

Administrative order advising RBI to allocate funds for RIDF have been issued on April 18, 2011. Operational guidelines have been issued to NABARD on September 16, 2011.

Action completed

20.

40.

Micro, Small and Medium Enterprises

Micro and Small enterprises play a crucial role in furthering the objective of equitable and inclusive growth. Last year, Rs. 4,000 crore was provided to SIDBI for refinancing incremental lending by banks to these enterprises. For the year 2011-12, I propose to provide Rs. 5,000 crore to SIDBI for the same purpose out of the shortfall of banks on priority sector lending targets.

[Nodal Ministry/Department: D/o Financial Services]

Orders have been issued to RBI on April 18, 2011 for making necessary allocations.

Action completed

21.	41.	Handloom weavers have been facing economic stress. Consequently, many of them have not been able to repay debts to handloom weaver cooperative societies which have become financially unviable. I propose to provide Rs. 3,000 crore to NABARD, in phases for these cooperative societies. The initiative would benefit 15,000 cooperative societies and about 3 lakh handloom weavers. The details of the scheme would be worked out by the Ministry of Textiles in consultation with Planning Commission. [Nodal Ministries/Departments: D/o Textiles, Planning Commission]	The Planning Commission has given �in-principle� approval on �Revival, Reform and Restructuring Package for Handloom Sector�. Guidelines for the package have been issued on November 28, 2011. Two meetings of National Implementation, Monitoring & Review Committee (NIRMC) have been held. The third meeting is expected to be held shortly. An amount of Rs. 50 crore has been allocated from Contingency Fund of India. *Work in progress*
22.	42.	I am happy to report that the outstanding loans to minority communities which stood at 13 per cent of total priority sector lending at the end of last year have increased to 13.6 per cent in the current year. I have directed the Public Sector Banks to achieve the target of 15 per cent at the earliest. [Nodal Ministry/Department: D/o Financial Services]	As per progress reports received from PSBs, the achievement of total outstanding loans to Minority communities as on September 30, 2011 stood at Rs. 1,47,083 crore, which works out to 14.50 per cent of the total priority sector advances. *Action partially completed*
23.	43.	Housing Sector Finance To further stimulate growth in housing sector, I am liberalising the existing scheme of interest subvention of 1 per cent on housing loans by extending it to housing loan upto Rs. 15 lakh where the cost of the house does not exceed Rs. 25 lakh from the present limit of Rs. 10 lakh and Rs. 20 lakh respectively. [Nodal Ministry/Department: D/o Financial Services]	Necessary orders have been issued on December 15, 2011. *Action completed*
24.	44.	On account of increase in prices of residential properties in urban areas, I propose to enhance the existing housing loan limit from ` 20 lakh to ` 25 lakh for dwelling units under priority sector lending. [Nodal Ministry/Department: D/o Financial Services]	Necessary circular has been issued by RBI on May 11, 2011. *Action completed*
25.	45.	To provide housing finance to targeted groups in rural areas at competitive rates, I propose to enhance the provision under Rural Housing Fund to Rs. 3,000 crore from the existing Rs. 2,000 crore. [Nodal Ministry/Department: D/o Financial Services]	Orders have been issued to RBI on April 18, 2011 for allocation to Rural Housing Fund. *Action completed*

26.	46.	Credit enablement of Economically Weaker Sections (EWS) and LIG households is a serious challenge. To address this issue, I propose to create a Mortgage Risk Guarantee Fund under Rajiv Awas Yojana. This would guarantee housing loans taken by EWS and LIG households and enhance their credit worthiness. [Nodal Ministries/Departments: D/o Financial Services, M/o Housing & Urban Poverty Alleviation]	To address the issue of credit enablement of EWS and LIG households, the details of establishing and operating the Mortgage Risk Guarantee Fund have been finalized and the same is being processed for obtaining the approval of the Cabinet. *Work in progress*
27.	47.	To prevent frauds in loan cases involving multiple lending from different banks on the same immovable property, the Government has facilitated setting up of Central Electronic Registry under the SARFAESI Act, 2002. This Registry will become operational by March 31, 2011. [Nodal Ministry/Department: D/o Financial Services]	The Central Electronic Registry has been operationalised on March 31, 2011. *Action completed*
28.	48.	Financial Sector Legislative Reforms Commission In pursuance of the announcement made in Budget 2010-11, the Government has set up a Financial Sector Legislative Reforms Commission under the Chair of Justice B. N. Srikrishna. It would rewrite and streamline the financial sector laws, rules and regulations and bring them in harmony with the requirements of a modern financial sector. The Commission will complete its work in 24 months. [Nodal Ministry/Department: D/o Economic Affairs]	The Commission has since been set up vide notification dated March 24, 2011. *Action completed*
29.	49.	The Companies Bill introduced in the Parliament in 2009 has been received from the Parliamentary Standing Committee. The proposed bill will be introduced in the Lok Sabha in the current session. [Nodal Ministry/Department: M/o Corporate Affairs]	The Companies Bill, 2011 has been introduced in Lok Sabha on December 14, 2011. *Action completed*
30.	51.	In the Budget for 2010-11, I had delineated a four-pronged strategy covering agricultural production, reduction in wastage of produce, credit support to farmers and a thrust to the food processing sector. These initiatives have started showing results but there are other issues in our food economy that require attention. The recent spurt in food prices was driven by increase in the prices of items like fruits and vegetables, milk, meat, poultry and fish, which account for more than 70 per cent of the WPI basket for primary food items. Removal of production and distribution bottlenecks for these items will be the focus of my attention this year. I propose to make allocations for these schemes under the ongoing Rashtriya Krishi Vikas Yojana (RKVY) for an early take off. The total allocation of RKVY is being increased from Rs. 6,755 crore in 2010-11 to Rs. 7,860 crore in 2011-12. [Nodal Ministry/Department: M/o Agriculture & Cooperation]	Out of the fund allocation of Rs. 7860 crore for 2011-12, an amount of Rs. 4185 crore has since been released under RKVY. In addition, Rs. 49.13 crore is available for UTs, which is to be released by MHA. Release of funds is an ongoing process. *Action completed*

31.

52.

Bringing Green Revolution to Eastern Region

The Green Revolution in Eastern Region is waiting to happen. To realize the potential of the region, last year�s initiative will be continued in 2011-12 with a further allocation of Rs. 400 crore. The program would target the improvement in the rice based cropping system of Assam , West Bengal, Orissa, Bihar, Jharkhand, Eastern Uttar Pradesh and Chhattisgarh.

[Nodal Ministry/Department: M/o Agriculture & Cooperation]

The Guidelines of the scheme were prepared and circulated to concerned States for preparing Action Plans. All 7 States have approved the projects. Out of allocated amount of Rs. 400 crore, a sum of Rs. 198.31 crore has since released to these States as 1^st installment. Release of funds is an ongoing process.

Action completed

32.

53.

Integrated Development of 60,000 pulses villages in rainfed areas

Government�s initiative on pulses has received a positive response from the farmers. As per the second advance estimates, a record production of 165 lakh tonnes of pulses is expected this year as against 147 lakh tonnes last year. While consolidating these gains, we must strive to attain self-sufficiency in production of pulses within next three years. I propose to provide an amount of Rs. 300 crore to promote 60,000 pulses villages in rainfed areas for increasing crop productivity and strengthening market linkages.

[Nodal Ministry/Department: M/o Agriculture & Cooperation]

A set of Guidelines was prepared and circulated to the States for preparation of Action Plans. State Level Sanctioning Committees (SLSCs) at each State level have approved the respective State plans. The allocation under this sub-scheme of RKVY is Rs. 300 crore and Rs. 276.12 crore has so far been released to States. Release of funds is an ongoing process.

Action completed

33.

54.

Promotion of Oil Palm

The domestic production of edible oil meets only about 50 per cent demand. The gap in supply is met through imports, which are often at high prices due to the quantum of our requirement. Our recent interventions and good rains are expected to result in a higher oilseeds production of 278 lakh tonnes in 2010-11 as against 249 lakh tonnes in 2009-10. To achieve a major breakthrough, we have to pay special attention to oil palm as it is one of the most efficient oil crops. I propose to provide an amount of Rs. 300 crore to bring 60,000 hectares under oil palm plantation, by integrating the farmers with the markets. The initiative will yield about 3 lakh metric tonnes of palm oil annually in 5 years.

[Nodal Ministry/Department: M/o Agriculture & Cooperation]

The Guidelines of the scheme were prepared and circulated to the implementing states, namely, Andhra Pradesh, Chhattisgarh, Gujarat, Karnataka, Maharashtra, Mizoram, Orissa and Tamil Nadu. Based on the SLSC�s approval, funds to the tune of ` 274.40 crore have so far been released to States for implementation of the programme. Release of funds is an ongoing process.

Action completed

34.

55.

Initiative on Vegetable Clusters

The growing demand for vegetables has to be met by a robust increase in the productivity and market linkage. An efficient supply chain, to provide quality vegetables at competitive prices will have to be established. I propose to provide an amount of Rs. 300 crore for implementation of vegetable initiative to set in motion a virtuous cycle of higher production and incomes for the farmers. To begin with, this programme will be launched near major urban centres.

[Nodal Ministry/Department: M/o Agriculture & Cooperation]

Following actions have been taken:

1. Operational guidelines formulated and circulated to States.

2. Nodal Officers have already been appointed by the State Governments.

3. Allocation communicated and States requested to approve projects by State Level Sanctioning Committees of RKVY before Kharif 2011.

4. Projects have been approved in 28 States/UTs and so far Rs. 207.55 crore have been released. Release of funds is an ongoing process.

Action completed

35.

56.

Nutri-cereals

While we ensure food for all, we must also promote balanced nutrition. Bajra, jowar, ragi and other millets are highly nutritious and are known to possess several medicinal properties. The availability and consumption of these Nutri-cereals is, however, low and has been steadily declining over recent years. A provision of Rs. 300 crore is being made to promote higher production of these cereals, upgrade their processing technologies and create awareness regarding their health benefits. This initiative would provide market linked production support to ten lakh millet farmers in the arid and semi-arid regions of the country. The programme would be taken up in 1000 compact blocks covering about 25,000 villages. This will help improve nutritional security and increase feed and fodder supply for livestock.

[Nodal Ministry/Department: M/o Agriculture & Cooperation]

Scheme on Initiative for Nutrition Security through intensive millet promotion has been formulated. The scheme aims to demonstrate the improved production and post-harvest technologies in integrated manner with visible impact to catalyze increased production of millets in the country. Besides, increasing production of millets and processing/ value addition techniques, is expected to generate consumer demand for millet based food products. Action Plans of all States have been approved by SLSCs and so far Rs. 274.66 crore have been released to States. Release of funds is an ongoing process.

Action completed

36.

57.

National Mission for Protein Supplements

The consumption of foods rich in animal protein and other nutrients has risen of late, with demand growing faster than production. The National Mission for Protein Supplements is being launched in 2011-12 with an allocation of Rs. 300 crore. It will take up activities to promote animal based protein production through livestock development, dairy farming, piggery, goat rearing and fisheries in selected blocks.

[Nodal Ministry/Department:

D/o Animal Husbandry, Dairying & Fisheries]

The detailed guidelines of National Mission for Protein Supplements have been issued to the participating States, who were advised to prepare detailed project proposals at their level and get the sanction of State Level Sanctioning Committee (SLSC) of the respective States.

An amount of Rs. 226.73 crore has already been released to all the participating States.

Action completed

37.	58.	Accelerated Fodder Development Programme Adequate availability of fodder is essential for sustained production of milk. It is necessary to accelerate the production of fodder through intensive promotion of technologies to ensure its availability throughout the year. I propose to provide Rs. 300 crore for Accelerated Fodder Development Programme which will benefit farmers in 25,000 villages. [Nodal Ministry/Department: D/o Agriculture & Cooperation)	Guidelines for this Programme formulated and uploaded on Department of Agriculture & Cooperation�s website. 12 States namely, A.P., Bihar, Chhattisgarh, Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Punjab , Rajasthan, Tamil Nadu and Uttar Pradesh have been selected for implementation of AFDP programme and state-wise allocation communicated to States. 11 States have fully prepared proposals and Chhattisgarh has prepared a partial proposal and got these approved by SLSCs of RKVY. So far an amount of Rs. 241.94 crore has been released to 12 States. Release of funds is an ongoing process. *Action completed*
	60.	National Mission for Sustainable Agriculture While the need to maximize crop yields to meet the growing demand for food grains is critical, we have to sustain agricultural productivity in the long run. There has been deterioration in soil health due to removal of crop residues and indiscriminate use of chemical fertilizers, aided by distorted prices.	(To be read with para No. 61)
38.	61.	To address these issues, the Government proposes to promote organic farming methods, combining modern technology with traditional farming practices like green manuring, biological pest control and weed management. [Nodal Ministry/Department: D/o Agriculture & Cooperation)	(To be read with para No. 60) Organic Farming and Green Manuring have been included as components under the National Mission for Sustainable Agriculture (NMSA). For controlling insect pests, diseases and weeds, which cause 10-30% crop losses every year, a scheme titled �Strengthening and Modernization of Pest Management Approach in India� has been launched since, 1991-92 by adopting Integrated Pest Management (IPM) as main plank of plant protection strategy. Under the ambit of IPM programme, 31 Central IPM Centres were established in 29 States/UTs. The mandate of these Centres is Pest / disease monitoring, production release of bio-control agents/bio-pesticides, conservation of bio-control agents and Human Resource Development in IPM by imparting training to Agriculture/Horticulture Extension Officers and farmers at grass root level by Farmers Field Schools in farmers� field. *Action completed*
39.	62.	Agriculture Credit To get the best from their land, farmers need access to affordable credit. Banks have been consistently meeting the targets set for agriculture credit flow in the past few years. For the year 2011-12, I am raising the target of credit flow to the farmers from Rs. 3,75,000 crore this year to Rs. 4,75,000 crore in 2011-12. Banks have been asked to step up direct lending for agriculture and credit to small and marginal farmers. [Nodal Ministry/Department: D/o Financial Services]	Administrative order communicating the target of flow of agricultural credit has been issued to RBI, NABARD and all Banks on April 18, 2011. *Action completed*

40.

63.

The existing interest subvention scheme of providing short term crop loans to farmers at 7 per cent interest will be continued during 2011-12. In the last budget, I had provided an additional 2 per cent interest subvention to those farmers who repay their crop loans on time. The response to this scheme has been good. In order to provide further incentive to these farmers, I propose to enhance the additional subvention to 3 per cent in 2011-12. Thus, the effective rate of interest for such farmers will be 4 per cent per annum.

[Nodal Ministry/Department: D/o Financial Services]

Necessary orders have been issued to RBI, NABARD and PSBs on December 30, 2011.

Action completed

41.

In view of the enhanced target for flow of agriculture credit, I propose to strengthen NABARD�s capital base by infusing Rs. 3000 crore, in a phased manner, as Government equity. This would raise its paid-up capital to Rs. 5,000 crore. To enable NABARD refinance the short-term crop loans of the cooperative credit institutions and RRBs at concessional rates, I propose a contribution of Rs. 10,000 crore to NABARD�s Short-term Rural Credit Fund for 2011-12 from the shortfall in priority sector lending by Scheduled Commercial Banks.

[Nodal Ministry/Department: D/o Financial Services]

Cabinet has approved capital infusion of Rs.3000 crore in NABARD in two trenches (Rs. 1000 crore in 2011-12 and Rs. 2000 crore in 2012-13). Funds for the year 2011-12 are being released.

For re-finance of short term crop loans of the cooperative credit institutions and RRBs at concessional rates, administrative orders have been issued on April 18, 2011 to RBI to allocate funds to NABARD.

Action partially completed

42.

65.

Mega Food Parks

Despite growing production of vegetables and fruits, their availability is inadequate due to bottlenecks in retailing capacity. An estimated 40 per cent of the fruit and vegetable production in India goes waste due to lack of storage, cold chain and transport infrastructure. To address these issues, the Eleventh Plan target for number of Mega Food Parks was set at 30. So far, 15 such parks have been sanctioned. During 2011-12, approval is being given to set up 15 more Mega Food Parks.

[Nodal Ministry/Department: M/o Food Processing Industries]

CCEA in its meeting held on October 25, 2011 has approved setting up of 15 new Mega Food Parks in addition to 15 ongoing projects.

Action completed

43.	66.	Storage Capacity and Cold Chains The years 2008 to 2010 saw very high levels of foodgrain procurement. On January 1, 2011, the foodgrain stock in Central pool reached 470 lakh metric tonnes, 2.7 times higher than 174 lakh metric tonnes on January 1, 2007. The storage capacity for such large quantities requires augmentation. Process to create new storage capacity of 150 lakh metric tonnes through private entrepreneurs and warehousing corporations has been fast tracked. Decision to create 20 lakh metric tonnes of storage capacity under Public Entrepreneurs Guarantee (PEG) Scheme through modern silos has been taken. While we will be able to add about 2.6 lakh tonnes of capacity by March 2011, based on existing sanctions, the addition will reach 40 lakh tonnes by March 2012. During 2010-11, another 24 lakh metric tonnes of storage capacity has been created under the Rural Godown Scheme. [Nodal Ministry/Department: D/o Food & Public Distribution]	Under the Private Entrepreneurs Guarantee (PEG) Scheme, a capacity of about 151 lakh tonnes in 19 States has been approved to be constructed through the Private Entrepreneurs, Central Warehousing Corporation (CWC) and State Warehousing Corporations (SWCs). About 88 lakh tonnes capacity has already been finalized for creation by Private Entrepreneurs. CWC has been allotted 5.4 lakh tonnes, SWCs have been allotted 14.6 lakh tonnes. Out of these, about 4 lakh tonnes has already been completed by CWC/SWCs. 32.70 lakh MT capacity is likely to be created by March 31, 2012. Besides, additional storage capacity of 2 MMT will be created through silos. Note for EGoM has been sent to Cabinet Secretariat for placing it before EGoM. *Action partially completed*
44.	67.	Investment in cold storage projects is now gaining momentum. During this year, 24 cold storage projects with a capacity of 1.4 lakh metric tonnes have been sanctioned under National Horticulture Mission. In addition, 107 cold storage projects with a capacity of over 5 lakh metric tonnes have been approved by the National Horticulture Board. [Nodal Ministry/Department: M/o Agriculture & Cooperation]	Different Plan Schemes are being implemented through NHM, NHB and HMNEH for development of cold storage infrastructure in the country. Till January, 2012, 76 cold storages with capacity of 3.55 lakh MT under NHM and 17 cold storages with capacity of 2.49 lakh MT under NHB scheme have been created. Besides, 15 Controlled Atmosphere (CA) storage with a capacity of 0.56 lakh MT has been sanctioned under NHM and HMNEH Schemes. *Action completed*
45.	68.	To attract investment in this sector, henceforth, capital investment in the creation of modern storage capacity will be eligible for viability gap funding scheme of the Finance Ministry. It is also proposed to recognize cold chains and post-harvest storage as an infrastructure sub-sector. [Nodal Ministry/Department: D/o Economic Affairs]	Necessary Notification has been issued on March 17, 2011. *Action completed*
46.	69.	Agriculture Produce Marketing Act The recent episode of inflation in vegetables and fruits has exposed serious flaws in our supply chains. The government regulated mandis sometimes prevent retailers from integrating their enterprises with the farmers. There is need for the State Governments to review and enforce a reformed Agriculture Produce Marketing Act urgently. [Nodal Ministry/Department: M/o Agriculture & Cooperation]	The Model Act, which has already been circulated to the State Governments for implementation, provides for alternative marketing choices to farmers in the form of contract farming, direct marketing and private marketing and encourages private investment in market infrastructure and supply chain. In order to incentivise reforms, scheme such as Development/ strengthening of Agricultural Marketing Infrastructure, Grading & Standardization have been promoted where the States, which have adopted the requisite market reforms, can avail benefits from the scheme. To expedite the implementation of market reforms, a Committee of State Ministers-in-Charge of Agriculture Marketing of 10 States was set up, which has submitted its report on September 8, 2011. The same has been circulated to States/UTs for implementation of its recommendations. *Action completed*

47.	71.	Our experience with PPP model for creation of public sector assets in the country has been good. We have recently launched the National Capacity Building Programme to enhance capacities of public functionaries in identifying, conceptualising, structuring and managing PPPs. It is our endeavour to come up with a comprehensive policy that can be used by the Centre and the State Governments in further developing public-private partnerships. [Nodal Ministry/Department: D/o Economic Affairs]	The Draft Policy has been prepared and put on Department of Economic Affairs� website on PPP for wider consultations with the stakeholders. The feedback received is being analyzed. *Work in progress*
48.	72.	Government established India Infrastructure Finance Company Limited (IIFCL) to provide long term financial assistance to infrastructure projects. It is expected to achieve a cumulative disbursement target of Rs. 20,000 crore by March 31, 2011 and Rs. 25,000 crore by March 31, 2012. The take out financing scheme announced in the Budget 2009-10 has been implemented and seven projects have been sanctioned with a debt of Rs. 1,500 crore. Another Rs. 5,000 crore will be sanctioned during 2011-12. [Nodal Ministry/Department: D/o Financial Services]	IIFCL has achieved cumulative disbursement target of Rs. 19,396 crore as on December 31, 2011. The target of Rs. 25,000 crore is likely to be achieved by end of FY 2011-12. IIFCL has sanctioned 20 projects for takeout amount of Rs. 2,899 crore till December 31, 2011. To make the scheme more attractive, certain modifications in the Takeout Finance Scheme have been approved by the Government. The target of Rs. 5,000 crore is likely to be achieved by March 31, 2012. *Action partially competed*
49.	73.	In order to give a boost to infrastructure development in railways, ports, housing and highways development, I propose to allow tax free bonds of Rs. 30,000 crore to be issued by various Government undertakings in the year 2011-12. This includes Indian Railway Finance Corporation Rs. 10,000 crore, National Highway Authority of India Rs. 10,000 crore, HUDCO Rs. 5,000 crore and Ports Rs. 5,000 crore. [Nodal Ministry/Department: D/o Economic Affairs]	Necessary notification has been issued on September 23, 2011 by Department of Revenue allowing NHAI, IRFC, HUDCO and PFC (in place of Ports) to issue tax free bonds. *Action completed*
50.	74.	To attract foreign funds for the infrastructure financing, I propose to create Special Vehicles in the form of notified infrastructure debt funds. I will come to the details in Part B of my speech. [Nodal Ministry/Department: D/o Economic Affairs]	SEBI has vide orders dated August 30, 2011 enabled setting up of IDFs as Mutual Fund Schemes. RBI has issued regulations on November 22, 2011 for setting up IDFs as NBFCs. *Action completed*

51.	75.	National Manufacturing Policy For sustained growth of GDP and productive employment for younger generation, it is imperative that the growth in manufacturing sector picks up. We expect to take the share of manufacturing in GDP from about 16 per cent to 25 per cent over a period of ten years. Government will come out with a manufacturing policy, which will bring down the compliance burden on the industry through self-regulation and help make Indian industry globally competitive. [Nodal Ministry/Department: D/o Industrial Policy & Promotion]	The �National Manufacturing Policy� has been approved by the Cabinet on October 25, 2011. *Action completed*
52.	76.	To address the need for greater transparency and accountability in procurement policy and allocation, pricing and utilisation of natural resources, the Government has set up two committees. The recommendations will be available within three months. [Nodal Ministry/Department: Cabinet Secretariat]	Both the Committees, viz. the Committee on Allocation of Natural Resources as well as the Committee on Public Procurement, have since submitted their Reports on June 2, 2011 and June 13, 2011 respectively, which have been considered by the Group of Ministers. *Action completed*
53.	77.	A Group of Ministers has been set up to consider all issues relating to reconciliation of environmental concerns emanating from various departmental activities including those related to infrastructure and mining. This Group will also suggest changes in the existing statutes, rules, regulations and guidelines and make its recommendations in a time bound manner. [Nodal Ministry/Department: M/o Environment & Forests]	Since a GoM has already been constituted to examine the issue of environmental clearance to mining projects in Go/No-Go areas, further efforts are being made in consultation with Ministry of Finance and Cabinet Secretariat to implement the announcement expeditiously. *Work in progress*
54.	78.	The Indian automobile market is the second fastest growing in the world and has shown nearly 30 per cent growth this year. World over, substantial investments are being made in the field of hybrid and electric mobility. To provide green and clean transportation for the masses, National Mission for Hybrid and Electric Vehicles will be launched in collaboration with all stakeholders. [Nodal Ministry/Department: D/o Heavy Industries]	National Council for Electric Mobility (NCEM) and National Board for Electric Mobility (NBEM) to expand electric mobility and manufacture of electric vehicles (including hybrids) and their components in India have been set up. Three Working Groups on Demand & Supply, R & D and infrastructure have also been constituted. *Action completed*

55.	79.	The funding of 15,260 modern low floor and semi-low floor buses under JNNURM, besides adding to passenger comfort, has transformed the urban transport across India . In 2011-12, Delhi Metro Phase-III and Mumbai Metro Line III are proposed to be taken up. The ongoing Metro projects of Bengaluru, Kolkata and Chennai will be provided financial assistance for speedy implementation. [Nodal Ministries/Department: M/o Urban Development]	Delhi Metro Phase-III has already been approved by Empowered Group of Ministers and sanctioned for implementation on September 26, 2011. The work is in progress. Revised DPR for Mumbai Metro Line III has been received from Govt. of Maharashtra and is under appraisal by Ministry of Urban Development. Ongoing Metro Rail Projects of Bengaluru, Kolkata and Chennai have been sanctioned necessary funds in 2011-12. *Action partially completed*
56.	80.	Investment in fertilizer sector is capital intensive and is considered high risk. It is proposed to include capital investment in fertiliser production as an infrastructure sub-sector. [Nodal Ministry/Department: D/o Economic Affairs]	The harmonized list of infrastructure wherein capital investment in fertilizers has been included as an infrastructure sub-sector, is under active consideration. *Work in progress*
57.	81.	Exports The Task Force on Transactions Cost set up by the Department of Commerce to identify and suggest ways to achieve improvement in efficiency of our export processes, has completed its work. Twenty one suggestions made by the Task Force have already been implemented. Action on remaining two will be taken in next few months. This will mitigate transactions cost by about Rs. 2,100 crore. [Nodal Ministries/Departments: D/o Commerce, D/o Revenue]	The recommendation regarding filing of a single bond for all customs locations has been implemented. Necessary notification has been issued on December 30, 2011 to provide average rates of Service Tax refund ranging from 0.03 per cent to 0.20 per cent of the FOB value of exports for wide range of goods exported from India . The refund will be enabled by the Indian Customs EDI System resulting in amounts getting directly credited into the exporters� Bank accounts within a few days of confirmation of export. *Action completed*
58.	82.	To quicken the clearance of the cargo by Customs authorities and further modernise the Customs administration, I propose to introduce self-assessment in Customs. Under this, importers and exporters will themselves assess their duty liabilities while filing their declarations in the EDI system. The Department will verify such assessments on a selective system driven basis. [Nodal Ministry/Department: D/o Revenue]	The provision of self�assessment in custom has been introduced in the relevant Section�s of Customs Act, 1962 by the Finance Act, 2011. Certain provisions have also been introduced for self-assessment for guidance of the trade and the departmental officers. *Action completed*
59.	83.	There have been considerable difficulties in the sanction of refunds relating to tax paid on services used for export of goods. I propose to shortly introduce a scheme for the refund of these taxes on the lines of drawback of duties in a far more simplified and expeditious manner. A new scheme is also being introduced by which units in SEZs will be able to obtain tax-free receipt of services wholly consumed within the zone and get their refunds in a much easier manner. [Nodal Ministry/Department: D/o Revenue]	Necessary notification has been issued on December 30, 2011 to provide average rates of Service Tax refund ranging from 0.03 per cent to 0.20 per cent of the FOB value of exports for wide range of goods exported from India . The refund will get directly credited into the exporters� Bank accounts. Besides, necessary notifications regarding SEZs have also been issued on March 1, 2011. *Action completed*

60.	84.	Mega clusters have large employment and export potential. I propose to extend the Mega Cluster Scheme for development of leather products. Seven mega leather clusters would be set up during the year 2011-12. I also propose to include Jodhpur for the development of a handicraft mega cluster. [Nodal Ministries/Departments: M/o Textiles, D/o Industrial Policy & Promotion]	After clearance by EFC for setting up Mega Leather Clusters, CCEA approval has been sought. To include Jodhpur for the development of a handicraft mega cluster, preparation of Detailed Project Report is under process. *Work in progress*
61.	87.	During the year, we have concluded discussions for 11 Tax Information Exchange Agreements (TIEAs) and 13 new Double Taxation Avoidance Agreements (DTAAs) along with revision of provisions of 10 existing DTAAs. To effectively handle the increase in tax information exchange and transfer pricing issues, Foreign Tax Division of CBDT has been strengthened. A dedicated Cell for exchange of information is being set up to work on this agenda. [Nodal Ministry/Department: D/o Revenue]	A software application, to be used by the dedicated Cell to effectively handle the increase in tax information exchange and transfer pricing issues, has been developed. The Cell for exchange of information has been set up. *Action completed*
62.	89.	The Ministry of Finance has commissioned a study on unaccounted income and wealth held within and outside our country. It would suggest methods to tax and repatriate this illicit money. [Nodal Ministry/Department: D/o Revenue]	MoU has been signed on March 21, 2011 between CBDT and 3 institutions for carrying out a study on unaccounted income and wealth held within and outside the country. The study will be completed within a period of 18 months from the date of MoU. *Action completed*
63.	90.	Trafficking in narcotic drugs is also a contributor to the generation of black money. To strengthen controls over prevention of trafficking and improve the management of narcotic drugs and psychotropic substances, I propose to announce a comprehensive national policy in the near future. [Nodal Ministry/Department: D/o Revenue]	A National Policy on Narcotic Drugs and Psychotropic Substances (NDPS) has been approved by the Government on January 12, 2012. *Action completed*
64.	91.	The UPA Government has engineered a major directional change in public policy by its focus on inclusive development. Creation of legal entitlements for an individual�s right to work has added to resilience and dynamism in our rural economy. The right to information and the right to education are effective tools of empowerment for removing social imbalances. The country has carried for long enough the burden of hunger and malnutrition. After detailed consultations with all stakeholders including State Governments, we are close to the finalisation of National Food Security Bill (NFSB) which will be introduced in the Parliament during the course of this year. The proposed allocation of Rs. 1,60,887 crore for social sector in 2011-12 is an increase of 17 per cent over current year. It amounts to 36.4 per cent of the total plan allocation. [Nodal Ministry/Department: D/o Food & Public Distribution]	The National Food Security Bill, 2011 has been introduced in the Lok Sabha on December 22, 2011. *Action completed*

65.

92.

Bharat Nirman

The UPA Government�s flagship programmes have been the principal instrument for implementing its agenda for inclusive development. For the year 2011-12, Bharat Nirman, which includes Pradhan Mantri Gram Sadak Yojna (PMGSY), Accelerated Irrigation Benefit Programme, Rajiv Gandhi Grameen Vidyutikaran Yojna, Indira Awas Yojna, National Rural Drinking Water Programme and Rural telephony have together been allocated Rs. 58,000 crore. This is an increase of Rs. 10,000 crore from the current year. A plan has been finalised to provide Rural Broadband Connectivity to all 2,50,000 Panchayats in the country in three years.

[Nodal Ministries/Departments: D/o Rural Development, D/o Telecommunications]

Out of 62,302 villages, Village Public Telephones (VPTs) have been provided in 62,046 villages. VPTs in Remaining 256 villages will be provided on Digital Satellite Phone Terminals (DSPTs) for which procurement of DSPTs by BSNL is under progress. Rural tele-density as of December, 2011 is 37.52%. As of January, 2012, broadband coverage has been provided to 1,43,714 Panchayats.

Action partially completed

66.

93.

MGNREGA

In pursuance of my earlier budget announcement to provide a real wage of Rs. 100 per day, the Government has decided to index the wage rates notified under the MGNREGA to the Consumer Price Index for Agricultural Labour. The enhanced wage rates have been notified by the Ministry of Rural Development on January 14, 2011. It has resulted in significant enhancement of wages for the beneficiaries across the country.

[Nodal Ministry/Department: D/o Rural Development]

A Committee has been set up to look into the issue. Its report is still awaited.

Work in progress

67.

94.

The Anganwadi workers and Anganwadi helpers are the backbone of Integrated Child Development Services Scheme. I am happy to announce an increase in the remuneration of Anganwadi workers from Rs. 1,500 per month to Rs. 3,000 per month and for Anganwadi helpers from ` 750 per month to Rs. 1,500 per month. This will be effective from April 1, 2011. Around 22 lakh Anganwadi workers and helpers will benefit from the increase.

[Nodal Ministry/Department:

M/o Women & Child Development]

Letters have been issued on July 11, 2011 to all States/ UTs for enhancement of honoraria of AWWs and AWHs.

Action completed

68.

96.

Education

Our �demographic dividend� of a relatively younger population compared to developed countries is as much of an opportunity as it is a challenge. Over 70 per cent of Indians will be of working age in 2025. In this context, universalising access to secondary education, increasing the percentage of our scholars in higher education and providing skill training is necessary. For education, I propose an allocation of Rs. 52,057 crore, which is an increase of 24 per cent over the current year.

[Nodal Ministries/Departments: D/o School Education & Literacy, D/o Higher Education]

The requisite allocation has been made.

Action completed

69.

97.

Sarva Shiksha Abhiyan

The existing operational norms of Sarva Shiksha Abhiyan have been revised to implement the right of children to free and compulsory education which has come into force with effect from April 1, 2010. For the year 2011-12, I propose to allocate Rs. 21,000 crore which is 40 per cent higher than Rs. 15,000 crore allocated in the Budget for 2010-11. A revised Centrally Sponsored Scheme �Vocationalisation of Secondary Education� will be implemented from 2011-12 to improve the employability of our youth.

[Nodal Ministry/Department: D/o School Education & Literacy]

Annual Work Plans and Budgets (AWP&B) of all States/ UTs for 2011-12 have been completed. So far Rs. 19,53,525 lakhs (93% of BE) has been released to States/UTs implementing societies for Sarva Shiksha Abhiyan. For Vocationalisation of Secondary Education, so far Rs. 4.97 crore has been released.

Action completed

70.

98.

Empowerment flows from Education. While the Scheduled Castes and Scheduled Tribes had access to post matric scholarships, there was so far a lack of pre matric scholarship scheme. In 2011-12, I propose to introduce a scholarship scheme for needy students belonging to the Scheduled Castes and Scheduled Tribes studying in classes ninth and tenth. It would benefit about 40 lakh Scheduled Caste and Scheduled Tribe students.

[Nodal Ministries/Departments: M/o Social Justice & Empowerment, M/o Tribal Affairs]

The scholarship scheme has received �in-principle� approval of the Planning Commission.

Proposal relating to introduction of new centrally sponsored Pre-matric scholarship scheme w.e.f. January 1, 2012 for SC students has been recommended by EFC. Guidelines for the scheme are being finalized in consultation with the Planning Commission.

Regarding introduction of new centrally sponsored Pre-matric scholarship scheme for ST students, EFC memo is under consideration.

Work in progress

71.	99.	National Knowledge Network Approved in March 2010, the National Knowledge Network (NKN) will link 1500 Institutes of Higher Learning and Research through an optical fibre backbone. During the current year, 190 Institutes will be connected to NKN. Since the core will be ready by March 2011, the connectivity to all 1500 institutions will be provided by March 2012. [Nodal Ministry/Department: D/o Information Technology]	A total of 639 links to institutions have been commissioned and made operational. This includes 172 links provided under National Mission on Education through ICT of MHRD, which have now migrated to NKN. 82 core links have been established between various NIC/NKN Points of Presence. *Work in progress*
72.	100.	Innovations To move beyond the formal R&D paradigm, a National Innovation Council under Shri Sam Pitroda has been set up to prepare a roadmap for innovations in India . The process of setting up State Innovation Councils in each State and Sectoral Innovation Councils aligned to Central Ministries is underway. [Nodal Ministry/Department: Planning Commission ]	21 States have constituted the States Innovation Councils. Several other States have given their commitment to constitute them at the earliest. 18 Ministries/21 Sectors have also constituted the Sectoral Innovation Councils. *Action completed*
73.	101.	The Government has been providing special grants to recognise excellence in universities and academic institutions. In the course of 2011-12, I propose to provide:
		� Rs. 50 crore each to upcoming centres of Aligarh Muslim University at Murshidabad in West Bengal and Malappuram in Kerala;	Action is underway to release the grants.
		� Rs. 100 crore as one-time grant to the Kerala Veterinary and Animal Sciences University at Pookode, Kerala;	Action is underway to release the grant.
		� Rs. 10 crore each for setting up Kolkata and Allahabad Centres of Mahatma Gandhi Antarrashtriya Hindi Vishwavidyalaya, Wardha;	Action is underway to release the grant.
		� Rs. 200 crore as one time grant to IIT, Kharagpur;	Action is underway to release the grant.
		� Rs. 20 crore for Rajiv Gandhi National Institute of Youth Development, Sriperumbudur, Tamil Nadu	Action is underway to release the grant.
		� Rs. 20 crore for IIM, Kolkata, to set up its Financial Research and Trading Laboratory;	Necessary Grant-in-aid has been released.
		� Rs. 200 crore for Maulana Azad Education Foundation;	Special grant of Rs.150 crore has been released. Remaining amount will be released upon CCEA approval.
		� Rs. 10 crore for Centre for Development Economics and Ratan Tata Library, Delhi School of Economics, Delhi ; and	Administrative sanction orders are being issued.
		� Rs. 10 crore for Madras School of Economics. [Nodal Ministries/Departments: D/o Higher Education, D/o Animal Husbandry, Dairying & Fisheries, M/o Minority Affairs, M/o Youth Affairs & Sports, D/o Economic Affairs]	Necessary Grant-in-aid has been released. *Action partially completed*

74.

102.

Skill Development

I am happy to inform the House that National Skill Development Council (NSDC) is well on course to achieve its mandate of creation of 15 crore skilled workforce two years ahead of 2022, the stipulated target year. It has already sanctioned 26 projects with a total funding of Rs. 658 crore. These projects alone are expected to create more than 4 crore skilled workforce over the next ten years. In the current year, skill training has so far been provided to 20,000 persons. Of these, 75 per cent have found placements. I will provide an additional Rs. 500 crore to the National Skill Development Fund during the next year.

[Nodal Ministry/Department: D/o Economic Affairs]

A sum of Rs. 500 crore for National Skills Development Fund has been provided.

Action completed

75.

103.

National celebrations of 150th Birth Anniversary of Gurudev Rabindranath Tagore will commence from May 7, 2011 in New Delhi . Important events will be held in several countries in Europe, America and Asia . A series of events are also proposed to be organized under the aegis of joint India-Bangladesh Celebrations Committee. An international award with prize money of ` 1 crore is being instituted for promoting values of Universal Brotherhood in the memory of Gurudev Rabindranath Tagore.

[Nodal Ministry/Department: M/o Culture]

A proposal for institution of an international award with prize money of ` 1 crore for promoting values of Universal Brotherhood in the memory of Gurudev Rabindranath Tagore has been approved.

Action completed

76.

104.

Health

For health, I propose to step up the plan allocations in 2011-12 by 20 per cent to Rs. 26,760 crore. The Rashtriya Swasthya Bima Yojana has emerged as an effective instrument for providing a basic health cover to poor and marginal workers. It is now being extended to MGNREGA beneficiaries, beedi workers and others. In 2011-12, I propose to further extend this scheme to cover unorganized sector workers in hazardous mining and associated industries like slate and slate pencil, dolomite, mica and asbestos etc.

[Nodal Ministry/Department: M/o Labour & Employment ]

A Task Force has been constituted to work out the details and to recommend to the Government, the process and procedures to be adopted for extension of RSBY to unorganized sector workers in hazardous mining and associated industries like slate and slate pencil, dolomite, mica and asbestos etc. The matter is under active consideration.

Work in progress

77.

105.

Financial Inclusion

In my last budget speech I had advised Banks to provide banking facilities to habitations having a population of over 2000 by March, 2012. The Banks have identified about 73,000 such habitations for providing banking facilities using appropriate technologies. A multi-media campaign, �Swabhimaan�, has been launched to inform, educate and motivate people to open bank accounts. During this year, banks will cover 20,000 villages. Remaining will be covered during 2011-12.

[Nodal Ministry/Department: D/o Financial Services]

About 49,000 villages have been covered under this campaign as on November 30, 2011. All Banks and the concerned State Governments have been advised to ensure that the remaining villages are covered by March, 2012.

Work in progress

78.

106.

Unorganised sector

I had announced a co-contributory pension scheme �Swavalamban� in the Budget 2010-11. This scheme has been welcomed by the workers in unorganised sector. Over 4 lakh applications have already been received. On the basis of the feedback received, I am relaxing the exit norms whereby a subscriber under Swavalamban will be allowed exit at the age of 50 years instead of 60 years, or a minimum tenure of 20 years, whichever is later. I also propose to extend the benefit of Government contribution from three to five years for all subscribers of Swavalamban who enroll during 2010-11 and 2011-12. An estimated 20 lakh beneficiaries will join the scheme by March 2012.

[Nodal Ministry/Department: D/o Financial Services]

Suitable amendments to operational guidelines, for the Swavalamban scheme to give the benefit of early exit and longer period of contribution from the Government are being formulated in consultation with the Interim Pension Fund Regulatory and Development Authority.

Till January 2012, the actual coverage under �Swavalamban� has been 1,62,614. All Public Sector Banks have been directed to enroll beneficiaries under the scheme. Besides, LIC has been made an Aggregator to take up enrollment.

Work in progress

79.

107.

Under the on-going Indira Gandhi National Old Age Pension Scheme for BPL beneficiaries, the eligibility for pension is proposed to be reduced from 65 years at present to 60 years. Further, for those who are 80 years and above, the pension amount is being raised from ` 200 at present to ` 500 per month.

[Nodal Ministry/Department: D/o Rural Development]

Necessary notification has been issued by Department of Rural Development on June 30, 2011.

Action completed

80.	108.	Environment and Climate Change Forests Protection and regeneration of forests has great ecological, economic and social value. Our Government has launched an ambitious ten-year Green India mission. I propose to allocate ` 200 crore from the National Clean Energy Fund to begin its implementation in 2011-12. [Nodal Ministry/Department: M/o Environment & Forests]	So far ` 50 crore has been sanctioned for Green India Mission (GIM) for protection & regeneration of forests from National Clean Energy Fund for the Financial Year 2011-12. Besides, a Steering Committee for GIM has been constituted for taking care of further follow up action for the activities under GIM. *Work in progress*
81.	109.	Environmental Management Environmental pollution has emerged as a serious public health concern across the country. I propose to allocate ` 200 crore from the National Clean Energy Fund as Centre�s contribution in 2011-12 for launching environmental remediation programmes. [Nodal Ministry/Department: M/o Environment & Forests]	The 1^st Meeting of Project Steering Committee was held on November 9, 2011 with concerned States followed by a Meeting with State Governments on November 30, 2011 for finalization of implementation aspect of the scheme. So far, for the year 2011-12, ` 10 crore have been sanctioned from NCEF. *Work in progress*
82.	110.	Cleaning of Rivers and Lakes A number of projects under the National Ganga River Basin Authority have been approved in 2010-11. This momentum will be further stepped up. There are many rivers and lakes of cultural and historical significance that need to be cleaned. In the course of the year 2011-12, I propose to provide a special allocation of ` 200 crore for the clean-up of some important lakes and rivers other than the Ganga . [Nodal Ministry/Department: M/o Environment & Forests]	Under National River Conservation Programme, DPRs were called from the State Governments. DPRs received for conservation of river Sabarmati (Phase-II) at Ahmedabad, river Musi (Phase-II) at Hyderabad and river Yamuna at Panipat & Sonepat were immediately processed/ appraised or are in advanced stage of processing/appraisal. The implementation of the projects identified would span about 3 years. *Work in progress*
83.	112.	The Government�s special support to Jammu & Kashmir is anchored in ` 28,000 crore Prime Minister�s Reconstruction Plan. In addition, for the current year, about ` 8,000 crore has been provided for the State�s development needs. A Task Force to assess infrastructure needs that can be addressed within a time horizon of 24 months for Ladakh and Jammu regions of the State has recommended projects amounting to ` 416 crore and ` 497 crore, respectively. I am providing ` 100 crore for Ladakh and ` 150 crore for Jammu for these identified projects in 2011-12. [Nodal Ministry/Department: M/o Home Affairs]	Funds to the tune of ` 250 crore have been sanctioned to Government of J&K on September 6, 2011. *Action completed*
84.	114.	To address problems related to Left Wing Extremism affected districts, an Integrated Action Plan (IAP) for 60 selected tribal and backward districts has been launched in	An amount of ` 2630 crore has been released to 60 district originally covered under the programme. In addition, an amount of ` 540 crore @ ` 30 crore per district has been released on December 29, 2011 for 18 districts which were

		December 2010. The scheme is being implemented with 100 per cent block grant of ` 25 crore and ` 30 crore per district during the years 2010-11 and 2011-12, respectively. The allocated funds are placed at the disposal of the district level committees who in consultation with local MPs will have the flexibility to spend the amount on development schemes as per the local needs. [Nodal Ministries/Departments: Planning Commission, M/o Home Affairs]	added to the programme on December 7, 2011. The Government has also approved continuation of the IAP in the present form for the year 2012-13. The implementation of the IAP is being monitored/reviewed through regular video conferences with States/Districts for taking immediate remedial measures at the ground level. The progress is being also uploaded on the MIS. *Action completed*
85.	115.	In recognition of the sacrifices made by Central Para-military Forces engaged in tackling Left Wing Extremism, a lump sum ex-gratia compensation of ` 9 lakh for 100 per cent disability will now be granted to personnel of the Defence and para-military forces who are discharged from service on medical grounds on account of disability attributable to or aggravated in government service. For personnel with disability ranging from 20 to 99 per cent, a proportionate amount would be given. [Nodal Ministries/Departments: D/o Ex-Servicemen Welfare, M/o Home Affairs]	Necessary orders in respect of Central Para-Military Forces have been issued by Ministry of Home Affairs on April 21, 2011. Similar orders regarding payment of ex-gratia lumpsum compensation to Defence Service Officers and PBORs, who are invalided out of service on account of disability attributable to Military Service, have been issued on December 26, 2011 by Ministry of Defence. *Action completed*
86.	117.	In order to speed up delivery of justice, the Plan provision for Department of Justice for 2011-12 has been increased three-fold to ` 1,000 crore. The enhanced provision will help in building judicial infrastructure and the project on E-courts. [Nodal Ministry/Department: D/o Justice]	Necessary allocation of funds to the tune of ` 1000 crore has been made. *Action completed*
87.	119.	In response to the overwhelming demand for enumeration of castes other than Scheduled Castes and Scheduled Tribes in Census 2011, it has been decided to canvass �caste� as a separate time bound exercise. This exercise will start in June 2011 and will be completed by 30th September 2011. [Nodal Ministry/Department: M/o Home Affairs]	Socio-Economic and Caste Census (SECC) has been launched in 26 States/UTs. It is already over in UTs of Dadra & Nagar Haveli, Chandigarh and Puduchhery and in the State of Tripura . It is in progress in the States/UTs of Daman & Diu, Chattisgarh, Punjab, Himachal Pradesh, Andhra Pradesh, Goa, Haryana, Maharashtra, Rajasthan , Sikkim , Arunachal Pradesh, Meghalaya, Karnataka, Jammu & Kashmir, Assam , Bihar, Madhya Pradesh, Gujarat, Delhi , Uttrakhand, Nagaland and Odisha. Out of total of 16,16,457 Enumeration Blocks (EBs) in the above 26 States/UTs, the field survey has been completed in about 4,93,647 EBs. *Work in progress*

88.	120.	UID Mission The UID Mission has taken off and Aadhaar numbers are being generated in large numbers. So far 20 lakh Aadhaar numbers have been given and from 1st October 2011, ten lakh numbers will be generated per day. The stage is now set for realising the potential of Aadhaar for improving service delivery, accountability and transparency in governance of various schemes. [Nodal Ministry/Department: Planning Commission]	12.1 crore Aadhar numbers have been generated as on January 31, 2012 out of which 2.52 crore (at an average of 8 lakhs numbers per day) were generated in January 2012. UIDAI is confident of scaling up of the numbers further and establish a consistent generation of 10 lakh plus numbers per day. *Action partially competed*
89.	121.	IT Initiatives The backbone of an efficient tax administration is a robust IT infrastructure and its deployment for enhanced taxpayer services. Towards this objective, both the Central Boards of Direct Taxes (CBDT) and Excise and Customs (CBEC) have put in place the following measures:
		� The on-line preparation and e-filing of income tax returns, e-payment of taxes through 32 agency banks, ECS facility for electronic clearing of refunds directly in taxpayers� bank accounts and electronic filing of TDS returns are now available throughout the country. These measures have empowered taxpayers to meet their tax obligations without visiting an income tax office.
		� The Centralized Processing Centre (CPC) at Bengaluru has increased its daily processing capacity from 20,000 to 1.5 lakh returns in 2010-11. This project has won a Gold Award for e-Governance in 2011. Two more CPCs will become operational in Manesar and Pune by May 2011 and a fourth CPC will come up in Kolkata in 2011-12.	The work relating to setting up of CPC at Manesar and Pune is under progress. The tendering for CPC Kolkata can be initiated only after completion of the Pune & Manesar tendering process. Delay in setting up of CPCs at these places was on account of fulfillment of required procedures.
		� With the completion of its IT Consolidation Project, CBEC can now centrally host its key applications in Customs, Central Excise and Service Tax. The Customs EDI system now covers 92 locations across the country. CBEC�s e-Commerce portal ICEGATE, has also been conferred a Gold Award for e-Governance.	The IT consolidation project has been implemented. The Central Excise and Service Tax application (ACES) is ported in the national Data Centre and implemented in all 104 Central Excise and Service Tax Commissionrates. The upgraded Customs application (ICES 105) is also ported in the National Data Centre and has been implemented in 94 locations.
		� The �Sevottam� concept has been adopted by both Boards. The three pilot projects of Aaykar Seva Kendras (ASKs) under CBDT have come of age. CBDT will commission eight more such centres this year. In 2011-12, another fifty ASKs will be set up	50 ASKs under CBDT are likely to become functional by March 31, 2012. One more formation under CBEC has been granted �Sevottam� certificate by the Bureau of Indian Standards taking the total number to 5. In phase-II, Sevottam is being

		across the country. CBEC has also launched a similar initiative and four of their pilot projects have been commissioned.	implemented in 20 other formations.
		� The electronic filing of Tax Deduction at Source (TDS) statements has stabilized. The Board shall soon notify a category of salaried taxpayers who will not be required to file a return of income as their tax liability has been discharged by their employer through deduction at source.	Notification has been issued on June 23, 2011 for exempting a category of salaried tax payers from filing of IT Returns.
		� CBDT will provide a separate web-based facility to enable a direct, stand-alone interface for taxpayers with the Income Tax Department so that they can report and track the resolution of their refunds and credit for prepaid taxes. [Nodal Ministry/Department: D/o Revenue]	The functionality has been developed and undergoing testing and will be made live for the public during current financial year. *Action partially completed*
90.	122.	Mission Mode Projects for computerization of Commercial Taxes in States that I announced in my last Budget, will allow States to align with the roll out of GST. Funds have been released for 31 projects received from the States and Union Territories . Most of the States and UTs have already enabled the facility of dealers making electronic payments. A number of States have already started accepting Electronic Tax Returns and issuing forms required for inter-state trade. [Nodal Ministry/Department: D/o Revenue]	22 States/UTs have successfully started e-payment facility to their dealers. 21 States/UTs have successfully started e-Return filing facilities for their dealers. 13 States/UTs have collected more than 80% of PAN details from their dealers and remaining States are collecting it on priority. Most of the States/UTs have made PAN compulsory for filling return. In 5 States/UTs e-refund is also operational. *Action completed*
91.	123.	With the development of the economy, the need to review the provisions of the Indian Stamp Act, 1899 has been felt over the years. I propose to introduce a Bill shortly to amend the Indian Stamp Act. [Nodal Ministry/Department: D/o Revenue]	The legal vetting of the draft Bill is in progress. *Work in progress*
92.	124.	Five years ago, we took an initiative to introduce a modern and people-friendly e-stamping facility in the country. Only six States have introduced this system so far. I propose to launch a new scheme with an outlay of ` 300 crore to provide assistance to States to modernise their stamp and registration administration and roll out e-stamping in all the districts in the next three years. [Nodal Ministry/Department: D/o Revenue]	To discuss and finalise guidelines of the scheme to provide assistance to States to modernize their stamp and registration administration and roll out e-stamping in all the districts in the next three years, a meeting was held with Sates. Accordingly, the Committee on Non-plan Expenditure is being requested to approve the scheme. *Work in progress*

93.	125.	I propose to introduce a new simplified return form �Sugam� to reduce the compliance burden of small taxpayers who fall within the scope of presumptive taxation. [Nodal Ministry/Department: D/o Revenue]	A new simplified return form �Sugam� has been notified on April 5, 2011. The same is available for use by the small taxpayers, who fall within the scope of the presumptive taxation. *Action completed*
94.	126.	The increase in scope of cases admitted by the Settlement Commissions has provided relief to several taxpayers. This has also increased the workload of the Commission. To fast track the disposal of cases, three more Benches of the Commission are being set up. [Nodal Ministry/Department: D/o Revenue]	Three Additional Benches of Income Tax Settlement Commission have been set up vide Government order dated December 5, 2011. *Action completed*
95.	128.	Corruption A Group of Ministers has been constituted to consider measures for tackling corruption. The Group has been tasked with addressing issues relating to State funding of elections, speedier processing of corruption cases of public servants, transparency in public procurement and contracts, discretionary powers of Central ministers and competitive system for exploiting natural resources. The Group will make its recommendations in a time bound manner. [Nodal Ministry/Department: D/o Personnel & Training]	The GoM has already submitted its 1^st Report in April, 2011, which has been accepted by the Government with minor modifications. Action has already been initiated for implementing the accepted recommendations. In a few cases, instructions have already been issued and in the remaining cases, necessary action is under way for amendments in statutory rules. The GoM has not yet submitted its final recommendations. *Work in progress*
96.	129.	Performance Monitoring and Evaluation System Pursuant to the recommendations of Second Administrative Reforms Commission, the Government has set up a Performance Monitoring and Evaluation System (PMES) to assess the effectiveness of Government departments in their mandated functions. It involves preparation of a Results Framework Document (RFD) by each department, highlighting its objectives and priorities for the financial year and achievements against pre-specified targets at the end of the year. This document would be available for public information on the departmental websites. In the first phase, 62 departments have been covered under PMES. [Nodal Ministry/Department: Performance Management Division, Cabinet Secretariat]	Presently 78 central Government Ministries/Departments and some 800 Responsibility Centres (attached, subordinate offices and autonomous bodies) under them are covered by the PMES/RFD policy. In addition, RFD policy has been adopted by the Governments of Kerala, Maharashtra, Karnataka, Punjab, Himachal Pradesh and Assam . Many other state Governments have expressed interest in adopting the PMES/ RFD policy. The achievements of the Ministries/Departments vis-a-vis targets laid down in their respective RFDs for the years 2009-10- and 2010-11 have also been evaluated and reviewed by an independent group of experts. *Action completed*
97.	130.	TAGUP In pursuance of the announcement made in the Budget 2010-11, I had set up a Technology Advisory Group for Unique Projects (TAGUP).	To discuss and implement the recommendations of Technology Advisory Group for Unique Projects, a High Level Coordination Committee (HLCC) has been constituted

		The Group has submitted its report and its recommendations have been accepted in principle. The modalities of implementation are being worked out. [Nodal Ministry/Department: D/o Revenue]	under the Chairmanship of Finance Secretary to carry forward the recommendations made by TAGUP. The modalities of implementation are being worked out by HLCC. *Work in progress*
98.	131.	Indian Rupee now has a new symbol which has been notified for use by the Central and State Governments, business entities and the general public. A new series of coins carrying this symbol will be issued shortly. The Government has approached Unicode Standards Authority for inclusion of the symbol in international standards. [Nodal Ministry/Department: D/o Economic Affairs]	New series of coins has been introduced with new rupee symbol �`�. The �`� symbol has been encoded in Unicode Standard and National Standard ISCII. *Action completed*
99.	144.	To attract foreign funds for financing of infrastructure, I propose to: � create special vehicles in the form of notified infrastructure debt funds; � subject interest payment on the borrowings of these funds to a reduced withholding tax rate of 5 per cent instead of the current rate of 20 per cent; � exempt the income of the fund from tax. [Nodal Ministry/Department: D/o Revenue]	Finance Act, 2011 has inserted a new sub-section 10(47), effective from June 1, 2011, in the Income-Tax Act, 1961, which provides that income of Infrastructure Debt Fund, set up in accordance with the prescribed guidelines, shall be exempt from taxation with withholding rate of 5% in respect of interest paid to non-resident investors. Suitable structure for the proposed Infrastructure Debt Fund has been finalized. *Action completed*
100	. 147.	In order to give a boost to production in the agriculture sector, I propose to extend the benefit of investment linked deduction to businesses engaged in the production of fertilisers. [Nodal Ministry/Department: D/o Revenue]	Finance Act, 2011 has amended section 35AD of the Income Tax Act to include the specified business of production of fertilizers in India for the purpose of investment-linked deduction. *Action completed*
101	. 148.	Considering the importance of housing, I also propose investment linked deduction to businesses which develop affordable housing under a notified scheme. [Nodal Ministry/Department: D/o Revenue]	Guidelines in respect of investment linked deduction for affordable housing, under section 35AD of the Income Tax Act, have been notified on January 2, 2012. *Action completed*
102	. 149.	In this Decade of Innovation, I enhanced the weighted deduction on payments made to	Weighted deduction on payments made to National Laboratories, Universities and Institutes of technologies for

		National Laboratories, universities and Institutes of technology, for scientific research, to 175 per cent in the last budget. I propose to further enhance this to 200 per cent. [Nodal Ministry/Department: D/o Revenue]	scientific research has been enhanced to 200 percent by the Finance Act, 2011 w.e.f. April 1, 2012. *Action completed*
103.	150.	In order to strengthen our system of collection of information from foreign tax jurisdictions, I propose to provide a toolbox of counter measures to discourage transactions with entities located in non-cooperative jurisdictions as may be notified by the Government. [Nodal Ministry/Department: D/o Revenue]	Finance Act, 2011 has inserted a new section 94A in the Income Tax Act to provide toolbox of counter measures to discourage the transactions with entities located in non-cooperative jurisdiction. *Action completed*
104.	177.	Other Proposals Works of art and antiquities are exempt from customs duties when imported for exhibition in a public museum or national institution. In recent years, many organisations have joined the cause of promoting and popularising both traditional and contemporary art. Some of them have been active in locating heritage works of Indian art and antiquities in foreign countries and bringing them back home. To encourage such initiatives, I propose to expand the scope of this exemption for works of art and antiquities to also apply to imports for exhibition or display, in private art galleries or similar premises that are open to the general public. Department of Culture will notify details of the scheme separately. [Nodal Ministry/Department: M/o Culture]	Pursuant to Notification dated March 1, 2011 issued by Department of Revenue, the operational guidelines have been notified by Ministry of Culture on October 25, 2011. *Action completed*
105.	184.	The actual collections of Service Tax do not reflect the full potential of this sector. While retaining the standard rate of service tax at 10 per cent, I seek to achieve a closer fit between the present service tax regime and its GST successor by:	The following steps have been taken as a part of the Finance Act, 2011 and also through issue of Notifications in the Official Gazette:
		� Bringing in a few new services into the tax net to expand the tax base while ensuring that the impact is predominantly on sections of society that have the ability to pay;	Two new taxable services viz. restaurant services and short term accommodation service have been included in the tax-net w.e.f. May 1, 2011.
		� Suitably expanding or rationalizing the scope of existing service categories;	The scope of the existing service categories has been expanded/rationalized in the Finance Act, 2011.
		� Rationalizing certain provisions relating to import of services and valuation;	Notification has been issued on March 1, 2011 to carry out the necessary changes in the import of services.

		� Modifying provisions of the Cenvat Credit scheme to achieve a more realistic balance between input credits and output tax and harmonising the provisions of the scheme across goods and services;	Notification has also been issued on March 1, 2011 to carry out the necessary changes in the Cenvat Credit scheme.
		� Rationalizing penal provisions to reinforce the message that honest taxpayers would be facilitated and deviants would be dealt with severely; and	Section 89 has been inserted in the Finance Act, 1994 to usher in stringent penal provision for the tax evaders.
		� Adoption of Point of Taxation rules for services which would shift the basis for tax collection from �cash� towards �accrual� basis as with Central Excise duty. [Nodal Ministry/Department: D/o Revenue]	Notification has been issued on March 1, 2011 to introduce Point of Taxation Rules, 2011. Besides, notification has also been issued on March 31, 2011 to make necessary amendments to the Rules. *Action completed*
106.	194	Many experts have argued that it will be desirable to tax services based on a small negative list, so that many untapped sectors are brought into the tax net. Such an approach will be very conducive for a nationwide GST. I propose to initiate an informed public debate on the subject to help us finalise the approach to GST. [Nodal Ministry/Department: D/o Revenue]	Public debate has been initiated on the composition of �negative list� for service tax, as an approach to Goods and Service Tax (GST). Besides, concept paper on negative list approach to taxation of services has been placed in the public domain for debate. *Action completed*