Union Budget 2010-11: Highlights (Part I)

New Delhi, Feb 26 : The union Budget for the year 2010-11 was presented in the parliament by the Union Finance Minister Pranab Minister on Friday, Feb 26.

Highlights of Union Budget 2010-11 are as follows:

First challenge before Government is to quickly revert to high GDP growth path of nine per cent

Second challenge is to harness economic growth to make it more inclusive and consolidate gains.

Impressive recovery in the past few months can witness faster recovery in the coming months

To strengthen food security.

Focus shifted to non-governmental actors. Government to concentrate on supporting and delivering services to the economically backward sections

Growth rate in manufacturing was 18.5 per cent

Economy stabilised in Q1 of 2009

Development needs to be more inclusive

Challenge is to return to high GDP

Government to consult with CMs to bring down inflation

Income tax reforms nearly complete

Earnest endeavour to implement General Sales Tax in April 2011

Disinvestment target: Rs 25,000 crore this year

Government hopes to implement direct tax code from April 2011

Fertiliser subsidy to be reduced

To discuss Kirit Parikh report in due course

Status paper on public debt within six months

Rs 16,500 crore capital support for PSU banks

ANI