Union Budget 2011-12: New Plans and Schemes

Union Finance minister of India, Pranab Mukherjee, on 28 February 2011 presented the budget in the lok sabha of Indian Parliament.

Created On: Mar 4, 2011 18:26 ISTModified On: Mar 31, 2011 21:40 IST

Union Finance minister of India, Pranab Mukherjee, on 28 February 2011 presented the budget in the lok sabha of Indian Parliament. The new plans presented in the budget are as following:

India Microfinance Equity Fund Proposed
India Microfinance Equity Fund of 100 crore with SIDBI was proposed in the budget 2011-12.The fund will be set up in the course of the year 2011.

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. In the Budget it was proposed to provide an amount of 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.

Promotion of Oil Palm
To achieve a major breakthrough, India has to pay special attention to oil palm as it is one of the most efficient oil crops. The budget proposed to provide an amount of `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.

Besides, ensuring food for all, India 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 Nutricereals is, however, low and has been steadily declining over recent years. A provision of 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 25000 villages. This will help improve nutritional security and increase feed and fodder supply for livestock.

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 will be launched in 2011-12 with an allocation of 300crore. It will take up activities to promote animal based protein production through livestock development, dairy farming, piggery, goat rearing and fisheries in selected blocks.

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. The budget proposed to provide 300 crore for Accelerated Fodder Development Programme which will benefit farmers in 25000 villages.

Scheduled Castes and Tribal Sub-plan
 In the Budget for 2011-12, for the first time, specific allocations are being earmarked towards Scheduled Castes Sub-plan and Tribal Sub-plan. These will be shown in the Budget of the relevant Ministries and Departments under separate minor heads of account. Further, the Budget allocation for primitive tribal groups was increased from 185 crore in 2010-11 to 244 crore in 2011-12.

National Mission for Hybrid and Electric Vehicles
The Indian automobile market is the second fastest growing in the world and it has shown nearly 30 per cent growth in 2010-11. 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 the year 2011 in collaboration with all stakeholders.

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