UNION BUDGET 2009: BUDGET HIGHLIGHTS

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Finance Minister Pranab Mukherjee has presented Budget 2009-10 in Parliament.

Beginning his Budget speech, Pranab first thanked the voters for reposing faith in the UPA government.

Here are the Budget highlights as presented in Parliament:

  • Total budget expenditure for 2009-10 will be Rs 10, 28,032 cr
  • Plan expenditure, for both Centre and States, to go up by Rs 61,000 cr
  • Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
  • Higher public investment in infrastructure
  • Goods and Services Tax to be introduced from April 1, 2010
  • Defence outlay goes up
  • Total fiscal stimulus for 2008-09 amounts to Rs 1,86,000 cr
  • Strengthen the delivery mechanism for healthcare
  • Increase investment in infrastructure
  • Mandate for inclusive growth
  • Re-energise government and re institutionalise development
  • Challenege before UPA to return to 9 per cent growth
  • Aim to create 12 million jobs
  • Economic growth is a synergy of states and Centre
  • Integration of Indian economy with rest of the world
  • Significant hike in foreign capital
  • Govt took 3 stimulus packages to fight slowdown
  • Two worst quarters since September slowdown behind us
  • Signs of revival in the domestic industry
  • Fiscal stimulus gave economy a boost
  • New company IIFCL to look at infrastructure needs
  • IIFCL will also look at incremental lending by banks
  • GDP grew at 6.7 per cent
  • JNNURM allocation hiked by 87 per cent
  • Hike infrastructure investment to over 9% of GDP by 2014
  • Fund allocation for urban poor accommodation is 3,973,000 cr
  • Hike in allocation for Mumbai flood management
  • JNNURM allocation hiked by 87 per cent
  • NHAI allocation up by 23 per cent
  • IIFCL will also look at incremental lending by banks
  • New company IIFCL to look at infrastructure needs
  • Additional budget allocation to farmers
  • FIIs have returned to India in last few months
  • Target for agriculture credit raised to Rs 3, 25,000 cr in 2009-10
  • Pranab Mukherjee quotes Kautilya in Budget speech
  • Export Credit Guarantee scheme extended till March 2010
  • Incentives in interest rates to farmers to pay back
  • An expert group will look into petroleum product pricing
  • Saral-II forms to simplify taxation process
  • Move towards energy security via Integrated Energy Act
  • Raise threshold for non-promoter public listed companies
  • Banking network to be expanded
  • NREGA gave employment opportunities to more than 4.479 cr households
  • Stimulus for print media extended till December 2009
  • Rs 39,100 crore allocation for NREGA
  • Indira Awaas Yojna hiked by 63% to Rs 8,883 cr, up 144 per cent
  • Rs 100 cr one-time grant to expand banks in 'unbanking' areas
  • Work on National Food Security scheme for subsidised food
  • Families below the poverty line will be entitled to 25 kg of rice or wheat per month at Rs 3 per kg
  • Rs 100 crore for pilot scheme for development of SC-dominated villages.
  • Aim to bring 50 per cent of all rural women under women’s self-help groups in five years and link them to banks.
  • Aim to reduce female illiteracy by half. The scheme will focus on the minorities, SCs, STs and other marginalised groups.
  • One rank, one pension for ex-servicemen from July 1
  • Interest subsidy for home loans up to Rs 1 lakh
  • Rs 2,000 cr for rural housing fund under National Housing Bank
  • Commonwealth Games allocation hiked to Rs 16,300 cr
  • Rs 2,113 cr for IITs and NITs
  • Pension of non-commissioned officers to be hiked
  • Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
  • Rs 1,000 cr for Aila rehabilitation programme to West Bengal
  • Funds for GSI to enhance exploration of minerals
  • IIFCL will refinance 60% of commercial bank loans in PPP
  • Housing allocation hiked under Rajiv Awaas Yojana
  • Trade in goods and services doubled in 2008

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