Interim Budget 2009 Highlights

Posted By: Staff
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 Key Features of Interim Budget 2009-2010

--Revenue Deficit seen at 4 pc GDP in 2009-10

--Need to go back to fiscal targets once economy is revived

--Major subsidy spending for 2009-10 at Rs95,500 cr

--Additional plan expenditure has to increase by 0.5-1.0 pc post poll

--Export interest subsidy extended for some sectors

--Allocation for JNNURM programme raised to Rs11,842 cr

--Bharat Nirman programme gets Rs 40,900 cr in 2009-10

--Rajiv Gandhi Rural Drinking Water Mission gets Rs7,400 cr in 2009-10

--Rural sanitation spending at Rs1,200 cr next FY

--Urban renewal spending in 2009-10 at Rs11,842 cr

--Fiscal deficit at 5.5 pc

--plan expenditure to go up substantially in regular budget

--Rs 40,000 cr relief through tax cuts
12:30 PM

--Defence allocation Rs 141,703 cr

--Food, fertiliser, petroleum subsidies to go up

--Rs 8300 cr for mid day meal scheme

--Rs 13100 cr to Sarva Shuikha Abhiyan
12:20 PM

Complete text of interim budget speech 2009-2010

--Flagship NREGA scheme gets Rs30,100 cr in 2009-10

--2009-10 gross budgetary support Rs 2,85,000 cr

--Rs 40,000 cr relief extended via tax cuts to counter economic slowdown

--Revised budget estimates for 2008-09 increased to Rs9,09,053 cr from Rs7,50,884 cr

--Fertiliser subsidy increased by Rs44,863 crore from about Rs14,000 crore during 2008-09

--Central plan expenditure increased from Rs2,43,386 crore to Rs2,82,957 crore

--Aim to increase job opportunities for 12 mn/year

--Tax collection down by 60,000 crore Vs budget estimate
12:14 PM

--FY09 revenue 4.4 pc vs 1 pc estimate

--Tax recollection down by Rs 60,000 cr over estimates

--FY09 fiscal deficit seen at 6 pc of GDP

--2008-09 revised estimate of spending Rs9,90,000 crore
12:08 PM

--Lok Sabha adjourned for 10 minutes

--Ambulance rushed in to take him out

--JS (D) MP Virendra Kumar from Kerala unwell,  Budget adjourned

--Dec industrial growth fell 2 pc

--Measures to bring back 9 pc growth needed

--Distortion in tax structure has reduced

--Need to revive fiscal consolidation at the earliest

--Farmers to get loans up to 3 lakhs at 7 pc interest

--IIFCL can raise upto 10,000 cr

--Tax rate must fall, our ability to pay tax must rise

--PSU turnover upto 84 pc

--No of PSus making loses reduced to 52 from 72

--6 new IITs became functional in 2008-09

--Dividend contribution by PSY increased by 86 pc

--65,300 cr loan waiver to farmers

--Farm growth 3.7 in last 4 years

--Pension schemes for widows and severely disabled launched

--Adhoc grants increased by 50 pc
11:56 AM

--India has whethered the global economic crisis

--Govt may consider additional fiscal efforts

--6 new IIMs to be operational by 2010

--The RIDA corpus was hiked from Rs 5,500 to Rs 14,000 cr

--60.12 lakh houses built under Indira Awaas Yojna

--Comitted to ensure food security

--Focused attention on agriculture sector

--Two more IITs in Madhya Pradesh and Rajasthan

--Education loan scheme revised

--Out lay for higher education raised 900 pc

--Government's highest priority to rural sector
11:43 AM

--Rs 13500 cr agriculture revival package implemented in 35 states

--Plan allocation to agriculture up to 300 pc in last 4 years

--Agriculture credit disbursement has gone up

--Employment generation schemes have to be expanded

--$23.3 bn FDI inflow between Apri-Nov 2008

--37 infrastructure projects worth 70,000 cleared

--Extension of export credit for labour intensive project

--Indian infrastructure-co to re-finance 60 pc of projects
11:29 AM

--Export growth slowed down it 17.1 percent in last 9 months

--Consistent 9 pc growth in 3 years in a row

--Grain production encouraging for the coming year

--Export growth at 26.4 annually for last four years

--Granaries were full in 2008

--Agriculture annual growth rate 3.7 pc

--India second fasted growing economy at 7.1 pc growth

--Saving rate up to 30.7 pc in 2008

--Farm, SVCs and manufacturing are growth derivatives
11:25 AM

--Per Capital Income up by 7.4 pc under UPA regime

--Agriculture is the back bone of Indian economy and 'farmers are the real heroes of our economy', said the minister in his Budget speech

--Fiscal revenue deficit is down

--Pranab said that the UPA government had made every effort to fullfill promises.

--Pranab Mukherjee presented the interim Budget 2009 in the Parliament on Monday, Feb 16.
11:12 AM

New Delhi, Feb 16: Union External Affairs Minister Pranab Mukherjee who is also handling the Finance portfolio in the absence of Prime Minister Manmohan Singh presented the interim Budget 2009 on Friday, Feb 16 in the Parliament. Experts believe that the UPA will kick off its election campaigning with the interim budget announcing major sops. At the same time some opine that no major change will be made in the tax policies.

Interim Railway Budget 2009 highlights

While interim Budgets are hardly proven poll winners, the Congress may go for populist announcements with substantial sops to the middle-class and the beleaguered industry. The common public are expecting tax breaks in personal incomes and home loans, while the industry sector hoping for some duty cuts to withstand global meltdown.

My budget will not hurt common man: Lalu

This is the first Budget speech of Pranab Mukherjee in the UPA government. He was the Finance Minister between 1982 to 1984. During this period Dr Manmohan Singh was the governor of Reserve Bank of India.

OneIndia News (With inputs from Agencies)
10:15 AM

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