Commerce Ministry gets marginal hike of Rs 1,977 cr in Budget

New Delhi, Feb 28 (UNI) Budgetary allocation for the Ministry of Commerce and Industry has been marginally hiked to Rs 1,977 crore in the Union Budget 2007-08, presented by Finance Minister P Chidambaram in the Lok Sabha today, up from Rs 1,925 crore sanctioned in the previous budget.

Of this, the share of the Department of Commerce in this year's Budget has gone up to Rs 1,477 crore against Rs 1,425 crore earmarked in Union Budget 2006-07.

Allocation for the Department of Industrial Policy and Promotion, however, remained static at Rs 500 crore.

Under the revised estimates, the expenditure for DIPP worked out to Rs 450 crore, bringing down the outlay of the Ministry to Rs 1,875 crore against the amount santioned of Rs 1,925 crore.

UNI