Budget 2013: Highlights

FM P Chidambaram 

 The Finance Minister on Thursday unveiled higher-than-expected spending for fiscal 2013/14 on Thursday, aiming to fund it with higher revenues - including new taxes on the rich and large companies - in a budget aimed at reviving growth amid the country's worst slowdown in a decade.

Here are the key highlights from the Finance Bill:

FISCAL DEFICIT 

> Fiscal deficit seen at 5.2% of GDP in 2012/13

> Fiscal deficit seen at 4.8 pct of GDP in 2013/14

BORROWING 

> Gross market borrowing seen at Rs 6.29 trillion in 2013/14

> Net market borrowing seen at Rs 4.84 trillion in 2013/14

> Short-term borrowing seen at Rs 198.44 trillion in 2013/14

> To buy back Rs 50000 crore worth of bonds in 2013/14

SPENDING 

> Total budget expenditure seen at Rs 16.65 trillion in 2013/14

> Non-plan expenditure estimated at about Rs 11.1 trillion in 2013/14

> India's 2013/14 plan expenditure seen at Rs 5.55 trln trillion

FM P Chidambaram 

> Revised estimate for total expenditure is Rs 14.3 trillion in 2012/13, which is 96 pct of budget estimate

SUBSIDIES 

> 2013/14 major subsidies bill estimated at Rs 2.48 trln from Rs 1.82 trillion

> Petroleum subsidy seen at Rs 65000 crore in 2013/14

> Revised petroleum subsidy for 2012/13 at Rs 96,880 crore

> Estimated 900 bln rupees spending on food subsidies in 2013/14

> Revised food subsidies at 850 bln rupees in 2012/13

> Revised 2012/13 fertiliser subsidy at 659.7 bln rupees