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TDP and Cong lose Deposit in Kamareddy, St. Ganpur

AP by election results 2012: Telugu Desam Party had its first taste of humiliating defeat in the by-elections in Kamareddy assembly constituency, which was once its stronghold. TRS candidate Gampa Goverdhan, who had defected from the TDP to the TRS a few months ago, won the seat with a thumping majority of 44,465 votes over his nearest Congress rival Y Raji Reddy. TDP candidate M Venugopal Reddy had to lose his deposit as he could not secure even 13,000 votes.     On the other hand, another TRS candidate T Rajaiah also declared elected from Station Ghanpur constituency over the nearest TDP rival Kadiam Srihari with a majority of over 36,000 votes. The TDP managed to secure the second position here as expected, whereas Congress candidate Pratap is said to have lost his deposit.

AP By election Results 2012 Live

AP by election Results Live: The bypolls results are coming up shortly. As of now the counting is going on and as per the fresh reports, Kovvur is expected to be won by YSR Congress with huge majority and TDP in second place while Nagarkurnool may go to Nagam Janardana Reddy. And in other places TRS is expected to win.   The movements at 11 am: 1.    Kovvur: YSR Cong candidate Prasanna Kumar Reddy leads by 13,004 votes. 2.    Stationghanpur: TRS in the lead. 3.    Nagarkurnool:  Independent Candidate Nagam Janardhan Reddy leads by 17,439 4.    Mahbubnagar: TRS in the leads. 5.    Kollapur: TRS leads. 6.    Adilabad: TRS leads 7.    Kamareddy: TRS leader Gampa Govardhan Reddy win by 44,465 votes.

The By polls Results Updates

The by Polls results 2012: The by polls results are coming up shortly. As of now the counting is going on and as per the fresh reports Mehboobnagar, Congress is leading as of second round. Still the counting is going on. After the completion of first round in Kollapur, TRS is leading with a small majority.    By elections 2012 Updates  

Bypolls 2012 Results: TRS 4, Cong 1, Ysrcp 1

The by election results 2012: The by election results are coming up shortly. As of now the counting is going on and as per the fresh reports Mehboobnagar, Congress is leading as of second round. Still the counting is going on. After the completion of first round in Kollapur, TRS is leading with a small majority.   Kovvur is expected to be won by YSR Congress with huge majority and TDP in second place while Nagarkurnool may go to Nagam Janardana Reddy. And in other places TRS is expected to win. Get glued here to know more. Mahaboob Nagar Congress is leading and BJP Second place after second round counting. TRS in fourth place. Kovvur YSRCP leading 4300 votes after 3rd round.

AP Byelection 2012 Results Today

AP by election results 2012: Chief electoral officer Bhanwarlal said elaborate arrangements have been made for counting of votes in all the seven assembly segments where the by-elections were held on March 18. The first results are expected to be out by 10.30-11 am. The counting will start at 8 am and is set to be completed by noon. Even before counting, some of the candidates started celebrations in Telangana region. For the first time, the election authorities are using 3G services to upload the counting process on to internet. The entire process would be recorded with web cameras which are connected to internet through 3G services enabling the Election Commission authorities to watch the process. Counting in Kamareddy would be held at Jeevadhan High School, for Adilabad at APTWRS Junior College. In Kovur, counting would be taken up the government polytechnic school and for three constituencies in Mahbubnagar, Jayaprakash Narayana Engineering college has been selected. The electronic voting machines ( EVMs) have been stored in strong rooms in the designated counting halls after completion of polling on Sunday.

AP Bypolls: Lagadapati Predicts Another Debacle For Congress

Clear indications are there that the ruling Congress party in Andhra Pradesh may not win a single seat out of the 7 bypolls held on Sunday. Congress is in for another setback after the recent debacle in Uttar Pradesh and Punjab, indicate the exit-poll surveys. It is likely that Congress may also lose in the second round of by-elections to be held shortly in 18 constituencies. The by-elections to seven assembly constituencies - six in the volatile Telangana region and the remaining one in the coastal district of Nellore - held on Sunday. "The Telangana Rashtra Samithi (TRS) will win all the five seats it has contested - Adilabad, Kamareddy, Station Ghanpur, Kollapur and Mahbubnagar - while the Independent candidate backed by TRS in Nagarkurnool will retain his seat. The Kovvur seat in Nellore will go to YSR Congress party," Congress MP from Vijayawada, Lagadapati Rajagopal, who commissioned an independent survey after the byelections, said. What is worse, the Congress could end up in third position in at least three constituencies, he said. That the party will come a cropper in the Telangana region is a foregone conclusion. Congress' inability to take any decision on TRS chief K. Chandrasekhar Rao's demand for a separate state and instead, deliberately dodging the issue, has given rise to much heartburn among the people. But the worst is yet to come. There are going to be another round of byelections for 18 assembly constituencies, 16 of which had fallen vacant after rebel Congress MLAs joined the YSR Congress. Of the other two, Chiranjeevi is going to vacate the Tirupati seat shortly as he has been nominated to Rajya Sabha and another MLA has submitted his resignation. And going by the ground report, the Congress is unlikely to win any of those seats.

AP by-poll: 84 Percent Voter Turnout in Kovur

ap by elections 2012: Voters turned up in large numbers to exercise their franchise in the by-elections to seven Assembly seats in Andhra Pradesh on Sunday, seen as the “quarter finals”. High voter turnout of 84 per cent in Kovur marked peaceful polling in the by-elections to seven Assembly constituencies in the State on Sunday. The average polling percentage in the seven constituencies was 71 per cent, while it was 68 per cent in the six segments of Telangana – Adilabad, Kamareddy, Station Ghanpur, Mahabubnagar, Nagarkurnool and Kollapur. The by-elections were necessitated following the resignation by six MLAs and the death of another.  

Sachin Tendulkar Timeline: 1989 to 2012

Masterblaster Sachin Tendulkar ended the agonising wait for his 100th 100 in Dhaka against Bangladesh on Friday 16 March, 2012. Batting first in the fourth match of the Asia Cup at Mirpur's Sher-e-Bangla National Stadium, India were cruising but all eyes were at Sachin Tendulkar who crossed his nineties confidentially. And he did not look nervous at all! Twenty-three years, every conceivable record, a World Cup medal, hundred international centuries - what more could Sachin Ramesh Tendulkar and millions of his fans have asked for. From the day he played his first game for India till today the man continues to baffle one and all with his class and consistency. Here's a quick timeline of Sachin Tendulkar's career so far. 1989: Makes his international debut in the away series against Pakistan under the captaincy of Krishnamachari Srikkanth as a 16-year-old and scores two half-centuries in six Test innings. 1990: Scores his maiden Test century (119 not out, 17 fours) against England at Old Trafford and helps India to save the match. 1991: Plays an impressive knock of 52 not against Pakistan at Sharjah which ended a series of defeats for India against their arch rivals at that venue. Also came into prominence in the same tournament as a bowler taking 4/34 against the West Indies which resulted in a comprehensive win for India. 1992: Plays a sublime innings of 114 in the Perth Test against an Aussie attack comprising of Craig McDermott, Merv Hughes, Paul Reiffel and Mike Whitney. Plays a match winning innings of 54 not out against Pakistan at Sydney in the 1992 World Cup, gets the crucial wicket of Aamir Sohail and ends up with the man of the match award. Becomes the first-ever overseas cricketer to represent Yorkshire in their County Championship. 1993: Bowls India to a memorable victory against South Africa at the Hero Cup when six runs were required to win off the last over. Scores his first Test century (165) in India at Chennai during the home series against England. 1994: Takes the world by storm as he is asked to open for the first time in one day internationals (ODI) during India's tour of New Zealand. Goes on to annihilate the Kiwi bowlers on his way to 82 off just 49 balls at Auckland's Eden Park as India level the series after losing the first match. Scores his first ODI ton in his 79th match during the Singer Cup against Australia at Colombo during a quadrilateral tournament involving hosts Sri Lanka, Australia and Pakistan. 1995: Signs first contract worth Rs 3.5 crore with WorldTel, for a five-year commercial endorsements and marketing deal. 1996: Scores a total of 523 runs in the World Cup hosted by India, Pakistan and Sri Lanka which includes two centuries. Also plays a major role in India's progress to the semi-finals. Takes over the captaincy from Mohammad Azharuddin after India's tour of England and leads India to victory over Australia in the one-off Test at Delhi which was followed by a Test series win over South Africa at home. India also win the Titan Cup by beating Australia and South Africa under his captaincy. Scores his 10th Test century (177) during the third Test against England at Trent Bridge, Nottingham. Scores his 10th ODI ton (114) during the Pepsi challenge match against South Africa at the Wankhede stadium. 1997: Leads India to a 4-1 victory over Pakistan at Toronto in the second edition of the Sahara Cup. Wins the Wisden cricketer of the year award. 1998: Scores an unbeaten 155 against Australia during the third Test at Chennai and helps India to a massive 179-run victory. Scores back to back centuries against Australia at Sharjah in a tri-series also involving New Zealand which helped India to go all the way. Brings up his 20th ODI ton at Sharjah against the Zimbabweans. 1999: Completes 8,000 runs in ODIs in his 217th match at the age of 26 years and 45 days vs Pakistan at Manchester in the World Cup. Scores his first Test double century (217 runs against New Zealand) in Ahmedabad. Brings up his 20th Test ton vs New Zealand at Mohali. Completes 50 catches in Test cricket in his 70th match vs New Zealand at Kanpur. 2000: Completes 9,000 runs in ODIs in his 242nd match at the age of 26 years and 330 days. Completes 6,000 runs in Test cricket in his 76th match vs South Africa at Bangalore. 2001: Completed 10,000 runs in ODIs in his 266th match. Becomes the first batsman in ODI history to score 10,000 runs. Brings up his 30th one-day century at Johannesburg against South Africa. Completes his 100 wickets in ODIs. Also completes a unique double of 10,000 runs and 100 wickets. 2002: Equals Sir Donald Bradman's record of 29 Test Centuries by scoring 117 vs West Indies at Port-of-Spain. In his 99th Test appearance, surpasses Bradman's record of 29 centuries scoring 193, against England at Headingly, Leeds. Only his mentor, Sunil Gavaskar is ahead of him at 34 centuries. Scores his 30th Test ton against England at Headingley, Leeds. 2003: Makes 673 runs in 11 matches in the ICC World Cup – most by any batsman in a single World Cup that wins him the player of the tournament award. Scores his 12,000th ODI run, while playing against Pakistan in the group match during the World cup. 2004: Equals Sunil Gavaskar's world record 34 Test centuries in the first match against Bangladesh. Becomes only the third player in history, after Gary Kirsten and Steve Waugh, to score centuries against all Test playing nations. Also becomes the first player in ODI history to win 50 Man of the Match awards. 2005: Completes 10,000 runs in Test cricket in his 122nd match at the age of 31 years and 326 days. Scores a record 35th hundred on the first day of the second Test against Sri Lanka in New Delhi, surpassing Gavaskar's record. 2006: Sets a new world record by completing 14,000 one-day runs en route to his 39th century in the first one-day international against Pakistan in Peshawar. Scores his 40th ODI century at Kuala Lumpur against the West indies during a tri-series competition also including Australia. Time magazine rewards Tendulkar as one of the Asian Heroes. 2007: Rested for the first time in his career, for the three-ODI series against Bangladesh. Scores back-to-back centuries in the two following Tests. Plays in his 400th one-day international. 2008: During the second match of the CB series involving hosts Australia, India and Sri Lanka, Tendulkar becomes the first batsman to go past 16,000 runs in ODIs. Tendulkar becomes the highest run-scorer in Test cricket at Mohali against Australia, surpassing Brian Lara's tally of 11953 runs. 2009: Becomes the first batsman to aggregate 17,000 ODI runs during his innings of 175 against Australia at Hyderabad. 2010: Becomes the first batsman to score a double-century, brings up the feat in ODI vs South Africa at Gwalior. Becomes the most capped player in Test cricket, surpassing Steve Waugh's tally of 168 Tests. Brings up his 50th Test century at the Centurion against South Africa. 2011: Becomes the most capped player in ODIs with the World Cup opening game vs Bangladesh, surpassing Sanath Jayasuriya's tally of 444 matches. Hits two hundreds and is first to score 2000 runs in World Cups as India win the World Cup beating Sri Lanka in the final at Wankhede. 2012: Becomes the first batsman in cricket hostory to score 100th interntaional ton. He reached the landmark on Friday, 16th March 2012 against Banglandesh at Mirpur. Source:cn.

Sachin Tendulkar gets 100 Century

Sachin 100 century: Sachin Tendulkar has become the first cricketer to score 100 international centuries after his hundred against Bangladesh in the Asia Cup in Dhaka. It has been over a year since he hit his last, against South Africa in Nagpur in a World Cup match, which is the longest time that he has had to wait for a century since his first Test century against England at Old Trafford in August 1990 and his second one against Australia nearly two years later in January 1992. Tendulkar has now hit 49 ODI centuries and 51 in Tests.

Indian Union Budget 2012-13: Highlights

Finance Minister Pranab Mukherjee on Friday announced tax relief for individual tax payers. Presenting Union Budget 2012-13 in Lok Sabha, Mukherjee said income upto Rs 2 lakh would be tax free; income from Rs 2 to 5 lakh would be taxed at 10%; from Rs 5 to 10 lakh at 20%; and income above Rs 10 lakh would attract tax of 30%. In other tax measures, Mukherjee announced that interest from savings account up to Rs 10,000 would be tax free. Also, apart from medical insurance, an additional Rs 5,000 would be exempted for preventive health check-ups. Senior Citizens have been exempted from filing advance tax. Meanwhile, Service Tax has been hiked from 10% to 12%. Also, its net has been widened and all services barring 17 would now be taxed. Corporate Tax structure has been left unchanged. Mukherjee earlier said India continues to remain among front-runners in economic growth. Mukherjee however said the economic growth is estimated at 6.9 percent during the current fiscal year which was "disappointing". The Finance Minister also exuded confidence that headline inflation would moderate in the next few months and remain stable. Income Tax: * Tax collection up 15% * Personal Income Tax slabs for individuals relaxed * Exemption limit enhanced from Rs 1.8 lakh to Rs 2 lakh * Upper limit of 20% tax raised from Rs 8 lakh to Rs 10 lakh New Slabs as follows: * Upto Rs 2 lakh - Nil, Rs 2-5 lakh - 10%, Rs 5–10 lakh – 20%, and above Rs 10 lakh – 30%. * Interest from savings account up to Rs 10,000 to be exempt from tax. * In addition to medical insurance, an additional Rs 5000 to be exempted for preventive health check-ups. * Senior Citizens exempted from filing advance tax. Compulsory reporting of assets sold abroad. Corporate Tax: * Corporate Tax structure left unchanged. Withholding tax on certain overseas borrowings reduced to 5% from 20%. Securities transaction tax by 20% for stock market orders. Service Tax: * Service Tax rates raised from 10% to 12%. To bring more businesses under Service Tax net; only 17 services exempted now. Higher Service Tax to add Rs 186.6 bn in revenue. Changes in direct taxes to result in revenue loss of Rs 45 bn. Government services, public transport exempted from services tax. Standard excise rate hiked to 12% from 10%. Tax Reforms: * Advanced pricing agreement in DTC to be in Financial Bill. New tax exemption on individual share invest with lock-in. GST network to get operational from Aug. GST under progress, talks on with states for drafting law. * To examine parliamentary panel report on Direct Tax Code. * Rajiv Gandhi Equity Saving Scheme launched * Rajiv plan equity invest lock-in period to be 3 years * Rs 50000 tax exempt for share invest in new Rajiv plan * Tax exemption on individual share invest below a million rupees * Tax free infra bonds Rs 600 bn to be issues FY 13 * To allow Rs 100 bn NHAI tax free bonds FY 13 * To allow Rs 100 bn IRFC tax free bonds in FY 13 * To allow Rs 50 bn HUDCO tax free bonds FY 13 * To allow Rs 50 bn SIDBI tax free bonds FY 13    * To allow Rs 100 bn power sector tax free bonds FY 13 * To okay Rs 50 bn National Housing Bank tax free bonds * 1% loan sop plan for home loans up to Rs 2.5 mn * Interest subvention on low cost homes extended by a year Growth & Divestment: Past year was supposed to be year of recovery. This year’s performance turned out to be disappointing. We were facing several challenges; global situation a dampener. * GDP estimated to grow 6.9% in 2011-12 * FY 13 GDP seen 7.6%, plus or minus 0.25% Proposes Mid-term fiscal goals: Aim to raise Rs 300 bn through sales of stakes in state run companies next fiscal. Aim to raise Rs 140 bn through sales of stakes in state companies this fiscal year. Agri, Services performing well. Industry pulled down growth in past two years. Industry now showing signs of recovery. * FY 12 Services growth at 9.4 * FY 12 Industry growth at 3.9% * FY 12 Agri growth at 2.5% Need to improve supply side of economy. India still front runner in world; share of trade has increased. Crude oil prices to cross USD 115/barrel. Five main objectives: * Focus on domestic demand driven growth recovery * Create conditions for rapid revival of high growth in private investment * Address supply bottlenecks in agriculture, energy and transport sectors, particularly in coal, power, national highways, railways and civil aviation. * Intervene decisively to address the problem of malnutrition especially in the 200 high-burden districts * Expedite coordinated implementation of decisions being taken to improve delivery systems, governance, and transparency; and address the problem of black money and corruption in public life. Fiscal Health & Estimates * Aim to trim fiscal deficit * To make amendments to Fiscal Responsibility and Budget Management Act (FRBM Act) * Current account deficit 3.6% * Fiscal deficit 5.9% of GDP this FY * Expect fiscal deficit 5.1% of GDP next FY * Concept of effective revenue deficit to be fiscal parameter * Expect gross tax receipts at Rs 10.78 tn next FY, up 15.6% * As a percentage of GDP, gross taxes to be 10.6 % in FY 13 * Total spending Rs 14.49 tn next FY * Non-Plan spending Rs 9.69 tn next FY, 8.7% higher than revised estimates * Net tax to Centre in FY 13 at Rs 7.71 tn * Expect non-tax revenue at Rs 1.64 tn next FY * Non-debt Capital Receipts at Rs 416.50 bn * Plan expenditure at Rs 5.21 tn, 18% higher than estimates * Direct tax collection fell short by Rs 320 bn * Total Debt stock at 45.5 % of GDP * Effective Revenue Deficit at Rs 1.85 tn or 1.8% of GDP Farm & Food * Agri to be on govt priority list * To increases outlay for agriculture by 18% to RS 202.08 bn * India to be self sufficient in urea manufacturing in 5 years * Announces 2 new handloom mega clusters * To set up 3 technical assistance centres for textiles * Allot Rs 700 mn for Maharashtra power loom cluster * East Indian states produced 7 mn tones more of paddy * Rs 5 bn pilot plan in 12th plan for geo textiles in NE * Allocated Rs 3 bn for FY 13 irrigation plans * Allot Rs 10 bn to up kharif output in NE FY 13 * Allot Rs 4 bn to up kharif output in NE FY 12 * Allot 5 bn for aquaculture FY 13 * NABARD to give rural banks Rs 100 bn for short term loans * To move bill for NABARD Act amendment * 3% rate subvention for farmers repaying loans on time * Rs 5.75 tn farm credit target in FY 13 * Rs 2 bn for R&D of seeds and farm research * Allocation to farm development plan RKVY hiked to Rs 92.17 bn * To set up govt owned irrigation promotion company * To add 5 mn tones grain storage capacity in FY 13 * To start national food processing mission in FY 13 * Micro-irrigation allotment up 13% to Rs 142.42 bn Inflation: * Headline inflation was major cause of concern * Inflation likely to moderate in FY 13 * Inflation largely structural in nature * Headline inflation is beginning to stabalize * Prolonged period of high inflation tends to get generalized * Inflation driven by farm supply constraints Financial Sector & Banks * India Opportunity Venture Fund via SIDBI of Rs 50 bn * To issue revised norms for banks priority sector lending * To set up financial holding company for recapitalization of banks * To move National Housing Bank Amendment Bill * To move Regional Rural Bank Amendment Bill * Rs 158.88 bn for capitalization of PSU banks in FY 13 * Propose electronic voting to up shareholder involvement * IPOs of over Rs 100 mn to be in electronic form Infrastructure: * 12th plan invest for infra at Rs 50 tn * ECBs allowed to part finance rupee debt of power projects * Coal India told to to sign coal supply pacts with power companies * Inter ministerial panel to monitor allocated coal mines * Targetting 8800 km projects under NHDP FY 13 * Irrigation including damns under viability gap funding FY 13 * Irrigation, fertilizer, terminal market under viability gap funding * Viability gap funding for oil, gas pipelines, storage * Telecom towers to get viability gap funding in FY 13 * Inadequate infra strain on growth * Extend plan to capitalize regional rural banks by 2 years * To give Rs 40 bn FY 13 for rural housing V Rs 30 bn in FY 12 * Realtors can borrow overseas for low cost home projects * To move bill for Public Debt Management * To allow external commercial loans for affordable homes * Foreign airline investment of 49% under consideration * Budget approves overseas borrowing of upto USD 1 bln for airlines' working capital needs * Budget OKs overseas borrowing for low-cost housing projects * To allow 1 year ECBs of USD 1 bn for airline companies * Allowed direct import of ATF by airlines * Foreign borrow for capex maintain, operate toll roads * Up NHDP allocation 14% to Rs 253.6 bn in FY 13 Subsidy: * To keep Subsidies under 2% of GDP over next 3 Years * Subsidy for food security to be fully provide for * Some subsidies inevitable * Fiscal policy had to absorb subsidy payments * Aim to directly transfer kerosene subsidy to individuals * Testing kerosene subsidy transfer in Rajasthan * Direct transfer subsidy pilot for 50 districts * Aim to directly transfer subsidy on LPG to consumers * Direct transfer of fertilizer subsidy to retailer, farmers soon * Direct transfer subsidy to be rolled out gradually Other Highlights: * GDP to grow by 6.9% in 2011-12 * This year’s performance disappointing * India still among front runners in economic growth * Monetary policy was geared towards containing inflation * Need to improve supply side of economy * Exports grew 23 % * Imports grew 29% * Past year was supposed to be year of recovery * To keep subsidies under 2% of GDP over next 3 years * We were facing several challenges; global situation a dampener * Industry pulled down growth in past two years * Industry now showing signs of recovery * Need to improve supply side of economy * Subsidy for food security law to be fully provided * Some subsidies inevitable * Agriculture to services performed well * Economy now turning around * Manufacturing on cusp of revival * Need to improve micro-economic environment * Expect headline inflation to moderate in the next few months and remain stable * Agri growth at 2.5% * External trade growth encouraging * India has successfully achieved diversification of import and export market * Diversification has helped overcome global slowdown * Current account deficit at 3.6% * Fiscal balance has deteriorated due to increase in direct tax seepages and increased subsidy * Expect smaller fiscal deficit in the coming year * Concept of effective revenue deficit is being brought in as a fiscal parameter * Crude oil prices to cross USD 115/barrel * Need to take a close look at revenue expenditure, particularly subsidies * Endeavour to restrict subsidy to under 2% of GDP * Recommendation of task force under Nandan Nilekani has been accepted * Direct transfer of fertilizer subsidy to retailer and then on to farmer to be rolled out * Direct transfer of kerosene subsidy pilot project in Alwar, Rajasthan * Direct subsidy transfer to be implemented in at least 50 more districts soon * DTC to be implemented at the earliest * The structure of GST network has been approved by EGoM * Treasury management for CPACs has been enhanced * Rs 30000 cr to be raised via disinvestment * At least 51% stake will remain with the govt * FDI in multi-band retail held in abeyance * GST to be operational by August 2012 * Provision for advance pricing agreement included in DTC bill * Reform in financial sector has been pursued to ensure more market intervention * New scheme - Rajiv Gandhi equity scheme - to be introduced * Simplifying process of IPOs * Mandatory for companies to issue stocks over Rs 10 cr through online system * 8 financial amendments bills to be introduced this year * Central Know Your Customer repository would be set up * 70,000 habitations have been provided with banking services * Ultra small branches would be set up * Swabhiman campaign to be extended to habitations with population of 1000 people * 81 Regional Rural Banks have migrated to core banking * Weak RRBs to be recapitalized for another two years * Viability gap funding under PPP is an important factor * Oil and gas and LNG storage and oil gas pipeline, telecom towers will also be * made eligible under viability gap finding * The first infra debt fund with a outlay of Rs 8,000 cr has been launched * Tax free infra bonds to be raised to Rs 60,000 cr * Coal India has been advised to sign power purchase agreements with power plants * 8,800 km roads to be covered under NHDP * ERCB for capex of toll system and maintenance * ECB for working capital requirement of aviation industry for a period of 1 year with an upper cap of USD 1 bn * Delhi-Mumbai industrial corridor has made progress * USD 4.5 bn has come Japan for DMIC * ECB for low cost housing * New handloom cluster in Prakasam and Guntur districts of AP and leather cluster in Jharkhand * Power loom mega cluster in Ichalkaranji in Maharashtra * India opportunity venture fund to be launched * 1% interest subvention for homes costing less than Rs 25 lakhs to continue * RKBY under Rs 300 cr for irrigation program * National food security mission, integrated development of pulses villages * National mission of sustainable irrigation being taken up * National mission on oil seed and oil palms * Rs 500 cr for aquaculture * Rs 10,000 cr to NABARD to refinance RRBS * Kisan card can be operated from ATMs * Allocation for SC/ST increased to Rs 37,113 crore * Food security a legal entitlement * PDS network being created using AADHAR platform * Multispectral programs to address maternal nutrition to be rolled out in select district * Budget OKs overseas borrowing to part-fund power projects' rupee debts * Budget approves overseas borrowing of upto USD 1 bln for airlines' working capital needs * Budget OKs overseas borrowing for low-cost housing projects * To increases outlay for agriculture by 18% to Rs 202.08 bn * India to be self sufficient in urea manufacturing in 5 years * Foreign borrow for capex to maintain, operate toll roads * Irrigation including damns under viability gap funding FY 13 * Irrigation, fertilizer, terminal market under viability gap funding * To allow Rs 100 bn NHAI tax free bonds FY 13 * To allow Rs 100 bn IRFC tax free bonds in FY 13 * To allow Rs 50 bn HUDCO tax free bonds FY 13 * To allow Rs 50 bn SIDBI tax free bonds FY 13 * To allow Rs 100 bn power sector tax free bonds FY 13 * Inter ministerial panel to monitor allocated coal mines * To OK Rs 50 bn National Housing Bank tax free bonds * ECBs allowed to part finance rupee debt of power projects * Hike in agri credit by Rs 1 tnh To Rs 5.75 tn next FY * Outlay for agriculture up by 18% to Rs 202.08 bn * Mid-Day meal scheme allocated Rs 11937 cr * RG for empowerment of adolescent girls scheme gets 750 cr * Rural drinking water and satiation allocated 14000 cr * PMGSY get Rs 24000 cr * Backward region development fund allocated Rs 12040 cr * Development projects for drought mitigation in Bundelkhand and other select areas Rs 20000 cr * Rs 5000 cr for developing warehousing facility * 6000 schools to be set up at block levels and developed as model schools * No new case of polio was reported in last one year * New vaccine unit to be set up near Chennai * NRHM enlarged to include iodine deficiency and vaccination * NRHM allocated Rs 20822 cr * National urban health mission launched * Seven more govt medical colleges to be upgraded to AIIMS * National Rural Livelihood Mission to provide self employment - allocation upped to Rs 3915 cr * Interest subvention of additional 3% on loans upto Rs 3 lakhs to women self help groups - effective rate of 4% * Credit guarantee fund for skill development * In the eventuality of the death of the bread earner of a BPL family they will get Rs 10,000 * Rs 25 cr to Institute of Rural Management in Anand * Rs 100 cr for Kerala agricultural University * Rs 50 cr of Dharwad Agriculture University * Rs 50 cr to Agri universities in Haryana, Odisha * Indira Gandhi pension scheme beneficiaries to get Rs 300 pm as against current Rs 200 * National population registry project to be completed in the next two years * 14 cr AADHAR number generated * AADHAR is ready for payments under MGNERGA, pension scheme * 82 double tax avoidance agreements have been finalized * 17 tax info sharing agreements has been finalized * Will table white paper on black money * Dedicated information cells to track black money * Allowed direct import of ATF by airlines * Realtors can borrow from overseas for low cost home projects * Gave Rs 40 bn in FY 13 for rural housing Vs Rs 30 bn in FY 12 * Announces 2 new handloom mega clusters * To set up 3 technical assistance centres for textiles * Allot Rs 700 mn for Maharashtra power loom cluster * East Indian states produced 7 mn tones more of paddy * Rs 5 bn pilot plan in 12 plan for geo textiles in NE * Allot 10 bn to up kharif output in NE FY 13 * Allot 4 bn to up kharif output in NE FY 12 * Rs 5.75 tn farm credit in FY 13 * Rs 100 bn to NABRAD for refinancing RRBs * NABARD to give rural banks Rs 100 bn for short term loans * Allocated Rs 255.55 bn under Right to Education * Allocated Rs 208.22 bn under rural health plan FY 13 * No new case of polio * Credit guarantee fund proposed for poor students * Allocated Rs 31.24 bn for secondary education * Allocated Rs 200 bn for rural infra development in FY 13 * Allocated Rs 240 bn under rural road project * Allocated Rs 158.50 bn for child development in FY 13 * Expect gross tax receipts at Rs 10.78 tn next FY * Total spending Rs 14.49 tn next FY * Expect non-tax revenue at Rs 1.64 tn next FY * Non-Plan spending Rs 9.69 tn next FY * Fiscal deficit 5.9% of GDP this FY * Expect Fiscal deficit 5.1% of GDP next FY Source:zeenews.  

Union Budget 2012-13: Live Video Updates 4-11

Union Finance Minister Pranab Mukherjee is presentig the Union Budget 2012-13 today in Lok Sabha. Here is the video coverage of budget presentation. Watch this page for bit by bit presentation of the budget. Finance Minister Pranab Mukherjee on Friday announced tax relief for individual tax payers. Presenting Union Budget 2012-13 in Lok Sabha, Mukherjee said income upto Rs 2 lakh would be tax free; income from Rs 2 to 5 lakh would be taxed at 10%; from Rs 5 to 10 lakh at 20%; and income above Rs 10 lakh would attract tax of 30%. In other tax measures, Mukherjee announced that interest from savings account up to Rs 10,000 would be tax free. Also, apart from medical insurance, an additional Rs 5,000 would be exempted for preventive health check-ups.                                                

What is in India Union Budget 2012

* Revenue deficit for 2012-13 projected at Rs 1,85,752 crore. * No change in corporate taxes but measures to enable them better access funds. * Sale of residential property exempted from capital gains if invested in equity or equipment of an SME. * New income tax slabs: Rs 5 lakh – Rs 10 lakh – 20%; above Rs 10 lakh – 30%. * Total debt of the Centre will be 45 per cent of GDP. * Service tax net widened, to include most sectors. Service tax raised to 12 pc from 10 pc. Freelancers in the film industry exempted from paying the service tax. * Govt services, public transport exempt from service tax. * Excise duty on large cars raised from 22% to 24%. * Tax exemption of up to Rs 5,000 for health insurance for annual preventive health checkup. * Proposal of 20% less tax on buying and selling shares.  

Union Budget 2012-13: Live Video Updates

Union Finance Minister Pranab Mukherjee is presentig the Union Budget 2012-13 today in Lok Sabha. Here is the video coverage of budget presentation. Watch this page for bit by bit presentation og the budget.                          

Union Budget 2012-13: Expectations And Apprehensions

The Union Budget 2012-13 is considered the toughest ever budget to be presented by Union Finance Minister Pranab Mukherjee in his career. All economic indicators are crying for a "tough budget" from the Finance Minister. On Thursday, the economic survey tabled in Parliament and the credit policy announcement of the Reserve Bank of India together called in one voice for "fiscal consolidation". Which is equal to a tough budget. Such a budget should have more tax receipts, more disinvestment, more reforms, less dole-outs through subsidies and less expenditure. Coalition politics of the fragile nature that the UPA government has on its hands now demands exactly the opposite – doles, freebies, populist measures, no reforms. Experts of all hue have called on the finance minister to act in the interest of the nation. Dinesh Trivedi, the railway minister, is on the verge of losing his job for having done that – he raised train fares after nine years, a bold move hailed universally, and now his own party the Trinamool Congress wants him axed. In the coming few hours, it would be known how this finacial wizard - the seasoned finance minister Pranab Mukherjee - is going to handle the situation.

Rail Minister Dinesh Trivedi has not Resigned

Railway Minister Dinesh Trivedi has said that he has not yet resigned from the Cabinet and is still the Union railway minister. Dinesh Trivedi said that he had come to Parliament as a minister to answer questions on the Railway Budget.   This even as the Trinamool Congress MPs have staged a sit-in outside Parliament demanding rollback of increase in rail fares and a special package for West Bengal. There appears to be no early end to the confrontation between Dinesh Trivedi and his party with Trinamool Congress already announcing its new nominee for the post of railway minister. Meanwhile, the crisis within the UPA resonated both in the Lok Sabha and the Rajya Sabha with opposition members demanding clarity on the row over status of Dinesh Trivedi. Arun Jaitley said the row in the UPA was a theatre of the absurd. Leading the charge in the Lok Sabha, Leader of Opposition Sushma Swaraj said the government should clarify the status of railway minister and the Railway Budget. Dinesh Trivedi has said that he has not yet resigned from the Cabinet and is still the Union railway minister.  

Railway Budget 2012: List of 75 New Trains

Rail budget 2012: The Minister of Railways, Shri Dinesh Trivedi on Wednesday announced introduction of 26 new trains, extension of five existing trains, increase in frequency of two existing trains and introduction of new five sub-urban trains. Most of these new services announced were part of the Railway Budget 2011-12. The trains announced in the Railway Budget 2011-12 are implemented by the end of the financial year i.e. 31st March 2012.   With this announcement, 115 out of 132 new trains proposed for introduction during Railway Budget 2011-12 will get introduced, 19 out of 22 increase in frequency of trains proposed in Railway Budget 2011-12 will be effected and all the extension of trains proposed in Railway Budget 2011-12 will get implemented. Efforts are being made to ensure introduction of other remaining services proposed in the Railway Budget 2011-12 by the stipulated date of 31st March, 2012. Today’s announcement include three Duronto, one Shatabdi, one fully AC Express, three  Rajyarani Express, nine Mail and Express services, three MEMU services, three DEMU services and five EMU services. In case of new trains, local public representatives as per laid down protocol will be invited by the concerned Zonal Railway/Divisional Railway for the formal flagging off in next 7 to 10 days. Extension and increase in frequency of the existing trains will be introduced with immediate effect, as operationally feasible. The list of new trains, extension of existing services etc. is given below: 12297/12298 Pune-Ahmedabad AC Duronto (Tri-weekly) 22209/22210 Mumbai Central-New Delhi AC Duronto (Bi-weekly) 19405/19406 Ahmedabad-Yesvantpur AC Express (Weekly) 12567/12568 Saharsa-Patna Rajya Rani Express (Daily) 22101/22102 Manmad-Mumbai Rajya Rani Express (Daily) 19261/19262 Porbander-Kochuvelli Express (Weekly) 22901/22902 Udaipur-Bandra(T) Express (Tri-weekly) 18511/18512 Visakhapatnam-Koraput Intercity Express 57477/57478 Tirupati-Guntakal Passenger (Daily) 58301/58302 Koraput-Sambalpur Passenger (Daily) 59425/59426 Bhuj-Palanpur passenger (Daily) 66302/66303 Ernakulam-Kollam MEMU (6 days a week) 77683/77684 Jalna-Nagarsol DEMU (6 days a week) 77686/77685 & 77688/77687 Kacheguda – Nizamabad DEMU (6 days a week) 77681/77682 & 77679/77680 Falaknuma-Medchal DEMU (6 days a week) 19027/19028 Bandra (T)-Jammu Tawi Vivek Express (Weekly) 12293/12294 Allahabad-  Mumbai  AC Duronto (Bi-weekly) 22454/22453 Meerut-Lucknow Rajya Rani Express (Daily) 13423/13424 Bhagalpur-Ajmer Express (Weekly) 12371/12372 Kolkata-Jaisalmer Express (Weekly) 22451/22452 Mumbai-Chandigarh Express (Weekly) 19407/19408 Varanasi-Ahmedabad Express (Weekly) 15033/15034 Haridwar-Ramnagar Express (Tri-weekly) 66019/66020 Salem-Katpadi MEMU (6 days a week) (Railway Budget 2010-11) 66300/66301 Ernakulam-Kollam MEMU (6 days a week) (Railway Budget 2010-11) Introduction of Anandvihar-Kathgodam Shatabdi Express (4 days a week)   EXTENSION: 1. 59803/59802 Nagda-Kota Passenger extension upto Ratlam 2. 19603/19604 Sultanpur-Ajmer Express extension upto Ahmedabad 3. 12965/12966 Udaipur-Gwalior Express extension upto Khajuraho 4. 55007/55008 Hajipur-Thawe Passenger extension upto Kaptanganj 5.12891/12892 Bhubaneswar-Baripada Express extension upto Bangriposi INCREASE IN FREQUENCY:  1. 59025/59026 Surat-Amravati Fast Passenger from 2 to 3 days a week.  2. 15279/15280 Saharsa-Adarsh Nagar Delhi Express from weekly to bi-weekly SUBURBAN: 1       Avadi-Chennai Beach                       2       Chennai Beach-Gummidipundi                                3       Gummidipundi-Chennai Beach                                 4       Chennai Central-Tiruvallur                            5       Tiruvallur-Chennai Central  source: PIB, Government of India  

Railway Minister Trivedi May Resign

Union Railways Minister Dinesh Trivedi is likely to resign over his own party's attack on fare hike in the Railway Budget presented by him in Lok Sabha today. Sources say Trinamool Congress chief Mamata Banerjee has sent him a message "Either rollback the hike or quit." Mr Trivedi belongs to the Trinamool Congress, which is headed by Mamata Banerjee who was Railways Minister till she became the Chief Minister of West Bengal in May.  Sources say that Mr Trivedi may have to resign and that Ms Banerjee has been upset with him for some time. Minutes after Mr Trivedi completed his speech outlining the country's Railways Budget in Parliament, his party colleague Sudip Bandopadhyay said, "We are opposing because of our party leader Mamata Banerjee who has taught us to protect interests of poor people.  We have told Dinesh Trivedi to withdraw the hike.  Party has not discussed anything with the minister on the railway budget."  Sources say Mr Trivedi has two choices: resign or withdraw the increased fares for train tickets. The Rail Minister has defended his bold move, the first in nine years, to raise passenger fares nominally. "It's a nominal hike...I have kept in mind the needs of the aam admi.  Without this small rise in fares, we cannot improve amenities and provide cleaner or safer trains," Mr Trivedi said. Interestingly, first reactions from passengers all over the country have been largely the same - that the fare hike is too nominal to make a dent - they all said they would readily pay a little more for a safer journey. Now the minister has only two options - Either to go by his party diktat or sail along the public opinion.  

Railway Budget 2012-13: What is in Store?

Unveiling his maiden Railway Budget before Parliament on Wednesday, Minister Dinesh Trivedi announced that the annual plan for 2012-2013 would be Rs 60,100 crore, the highest ever. He said the ministry plans to borrow 500 billion rupees from the market through the Indian Railway Finance Corporation (IRFC) in the 2012/13 fiscal year. In his budget presentation speech, Trivedi made safety the Railway's first priority. He proposed that all unmanned level crossings be abolished in the next five years and a special purpose vehicle -- Rail Road Grade Separation Corporation of India -- be set up for the purpose. He also proposed setting up an Independent Railway Safety Authority as a statutory body. Proposals in 2012-13 Railway Budget: * Signalling to be improved over 19,000 km. * Aim to bring down operating ratio from 90 percent to 84.9 per cent in 2012-13 and to 72 per cent by 2016-17. * Improving railway stations can provide employment to 50,000 people * Investment of Rs. 5.60 lakh crore required for modernisation * 1,500 EMU coaches added; Conversion of DC to AC fully achieved on Western Railway, soon on Central Railway. * Attempt to increase train speeds to 160 kmph; journey time from Delhi to Kolkata can be brought down to 14 hrs. * New line planned to Nepal from Bihar. * 31 projects of over 5,000 km being implemented with the support of state governments. * Elevated car project from Churchgate to Virar through PPP route to be studied. * Upgradation of 929 stations. * Dedicated freight corridor from Ludhiana to Dankuni and Dadri to JN Port. * Proposal to connect Agartala and Bangladesh. * Proposal to set up a dedicated design campus for railways at NID, Ahmedabad. * Introduction of alternate train accommodation system – to accommodate waitlisted passengers. * Jamnagar, Gujarat, to get a locomotive factory. * More than 1 lakh persons to be recruited by railways in 2012-13. * Focus on disaster management programme in Railways. Proper rest period to be introduced. Plan to set up three disaster management training centres at Bengaluru, Kharagpur & Lucknow. * Wellness programme for railways staff to be introduced. * New Rail Khel Ratna awards to be given to 10 sportspersons every year. * 2100 specially designed coaches for differently-abled people. 1 special coach in each express train for differently-abled persons. * 2500 coaches to have green toilets. Allocation of Rs. 1,112 crores for amenities. Special housekeeping body for cleanliness on trains, stations. Cleanliness standards to be improved within next 6 months. Proposal for escalators on stations, book-a-meal. Specialised body for hygiene and sanitation on trains to be set up. * High-speed train corridors to be started. * Indian Railways Stations Development Corp will redevelop stations and maintain them on pattern of airports.

Railway Budget-2012-13: AP Prospects in The Budget

Railway Budget - 2012-13 is being presented today in the Lok Sabha by Union Railways Minister Dinesh Trivedi. It is a well known fact that the Andhra pradesh state is being neglected for the past 7-8 years in allocations under rail budget. There are so many projects pending in AP, while the incumbent railway ministers are only pushing through rail projects in their own states. The Telugu Desam Parliamentary Party has decided to corner the Railway Minister today on occasion of budget presentation in the Parliament. They are determined to fight tooth and nail for the injustice done to andhra pradesh state. TDPP leader Nama Nageswara Rao disclosed this intention to the media outside Parliament. Congress MP Ponnam Prabhakar took expception to this and an arguement started between Nama and Ponnam Prabhakar. The Congress party MPs are of the view that definitely the injustice done to AP will be addressed by them in the parliament and see that the railway minister would certainly does the needful. But these TDP MPs are politicising the issue in view of the impending by-elections in the state. They want gain political mileage out of rather than getting allocations for the state, say the Congress MPs.