Highlights of Interim Budget 2009-10

New Delhi, Feb 16 (ANI): Acting Finance Minister Pranab Mukherjee presented the Interim Budget 2009-10 in the Lok Sabha today.The highlights are as follow:

Rs 40,000 crore relief extended through tax cuts to counter economic slowdown.

Budgetary support increased for Ministries of Rural Development, Road Transport and Highway, Power, Railways, Industrial Policy and Promotion and IT.

Defence allocation increased to Rs1,41,703 crore in wake of Mumbai attacks.

Revised fiscal deficit estimated at 6 per cent of GDP as against 2.5 per cent in the Budget estimate. Revised revenue deficit placed at 4.4 per cent as against 1 per cent in the Budget estimate for 2008-09.

Fiscal deficit has gone up from Rs 133,287 crore in the budget estimates to Rs 326,515 crore in the revised estimates for 2008-09.

Rs 40,000 crore relief extended through tax cuts to counter economic slowdown.

Budget estimate for expenditure for 2009-10 put at Rs 953,231 crore.

This includes Rs 285,145 crore for plan expenditure while non-plan spend put at Rs 668,883 crore.

India remains second-fastest growing economy in the world

Economy expected to grow 7.1 percent this fiscal

Need to make economic growth inclusive

Government spent Rs.70,000 crore on 37 infrastructure projects in 2008-09

Under public-private partnership (PPP), 54 central infrastructure projects approved

Total expenditure of PPP projects estimated at Rs.67,700 crore

India Infrastructure Finance Company to raise Rs.10,000 crore by end-March

India has weathered inflation crisis, but no room for complacency

Country's agriculture outlook is encouraging

Focussed attention to agriculture

Plan allocation for farm sector hiked 300 percent in past five years

Three-fold increase in short-term agriculture credit to Rs.250,000 crore

Farm debt worth Rs.65,300 crore waived

Government will continue to provide additional subsidy to farmers

Corpus of Rural Infrastructure Development Fund hiked to Rs.14,000 crore from Rs.5,500 crore

Outlay for higher education hiked 900 percent for 11th Five Year Plan

Country's social security net will be strengthened

Record foreign direct investment of 32.4 billion dollars attracted

Global economic situation not encouraging

Extraordinary situation merits extraordinary measures

Need to consider additional fiscal measures in regular budget

Financial sector reforms need to be accelerated

In past three years, India grew by average of over nine per cent

Per capita income expanded by 4.7 per cent per annum

Fiscal deficit was brought down from 4.5 per cent to 2.7 per cent

Revenue deficit was cut from 3.6 per cent to 1.1 per cent

Exports increased 26.4 per cent per annum

Foreign trade increased from 27.3 per cent to 35.5 per cent

Tax to gross domestic product ratio expanded by 9.2 to 12.5 per cent

Agriculture grew by 3.7 per cent per annum (ANI)