Even as the finance minister has proposed to earmark `10, 000 crore over and above the normal food subsidy, the much-talked about National Food Security (NFS) Bill can only be rolled out once it is enacted by the Parliament. This seems to be possible only by the next Monsoon Session of the Parliament and some in the government circles concede that the delay in enacting the law is “deliberate” to suit timing to reap political dividend.
However, this would be grossly inaccurate to claim that the budget has no soothing effect on people. Attempts are being made win hearts of lower-middle and middle class people by offering them tax cuts on their income by giving tax credit of `2,000 per to those whose income fall between `2 lakh and `5 lakh per annum. Similarly, additional exemption Rs.1 lakh over and above the current `1.5 lakhs has been given to people who have taken home loan not exceeding `25 lakhs for a property worth less than `40 lakhs.
Interestingly, 10 per cent surcharge on the income tax payable by superrich people in the country has been levied only for this fiscal year, which will end about a month before the next year’s elections.
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`3,511 crores allocated for Minority affairs
Age Correspondent
NEW DELHI, FEB. 28
The Union ministry of minority affairs, which was established during the early part of UPA-1 tenure, has got an allocation of `3,511 crores in this year Union Budget, which marks an increase of 60 per cent over the revised estimates of 2012-13.
Among the main beneficiaries of the increased allocation will be the Maulana Azad Education Foundation (MAEF) which comes under the ministry and is tasked with the job of implementing education schemes and channelling funds to non-government organisations for the minorities.
Its corpus which the government plans to increase to `1,500 crores during the 12th Five-Year Plan has been allocated `160 crores in the 2013-14 Budget. This is up from the `750 crores which it was allocated for the 2012-13 Budget.
Further, Union finance minister P. Chidambaram also informed Parliament that the MAEF wants to add providing medical aid as one of its functions and this has been accepted by the government.