Two-wheeler and three-wheeler goods carrier demand will be indirectly aided by increased agriculture credit and additional subvention on farm loans
- Increased excise duty by 2% to 12% on both two wheelers and three wheelers.
- Basic customs duty on non-alloy HR and CR coils hiked from 5% to 7.5%. HR. This can lead to more pricing power for steel, and increase in steel cost of the auto sector.
- Target for agricultural credit raised by Rs 1, 00,000 crore to Rs 5, 75,000 crore in FY 2012-13.
- Interest subvention scheme for providing short term crop loans to farmers at 7% interest per annum to be continued in 2012-13. Additional subvention of 3% available for prompt paying farmers.
- Plan Outlay for Department of Agriculture and Co-operation increased by 18%.
- Outlay for Rashtriya Krishi Vikas Yojana (RKVY) increased to Rs 9,217 crore in FY 2012-13. Further Rs 300 crore has been allocated to Vidarbha Intensified