Thus spake FM: Budget highlights

Thus spake FM: Budget highlights

Highlights of the budget for 2011-12 presented by Finance Minister Pranab Mukherjee in Parliament on Monday:

* Economy back to pre-crisis trajectory.

* Set pace for double digit growth.

* Total food inflation declined to less than 9 percent in January.

* Growth at 8.75 percent to 9.25 percent in 2011-12.

* Bills on insurance, pension funds, banking to be introduced.

* Gap between wholesale and retail prices not acceptable.

* Setting up independent debt management office; public debt management bill to be introduced in parliament.

* Seek Lord Indra's blessings for good monsoon

* Introduction of GST will improve compliance; bill in current session; setting up strong IT network for implementation.

* Expenditure has to be oriented towards production of goods and services.

* Government committed to retaining 51 percent stake in public sector enterprises.

* FDI policy being liberalised.

* Current account deficit at 2009-10 levels.

* Corruption a problem we have to fight collectively.

* Development needs to be more inclusive.

* Stronger fiscal consolidation needed.

* Setting tone for newer, vibrant economy.

* Economy has shown remarkable resilience to external and internal shocks.

* Economy back to pre-crisis trajectory.