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.



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