Union Budget 2009: Highlights

Union Budget 2009: Highlights




• Budgetary support increased for Ministries of Rural Development, Road Transport & Highway, Power, Railways, Industrial Policy & Promotion and IT.
• Will return to FRBM targets when Economy is on track
• 15 point programme for welfare of minorities set up.
• Food, fertiliser and petroleum subsidies to go up
• Defence allocation hiked to Rs 141,703 cr
• Central planned expenditure hiked to Rs 2,82,957 cr
• Rs 8,300 cr allocated for mid-day meal scheme
• 2 per cent interest subvention for export credit.
• Rajiv Gandhi Rural Drinking Water Mission gets Rs 7,400 crore in 2009-10.
• Central plan increased for host of areas like telecom, rural development
• Flagship NREGA scheme gets Rs 30,100 crore in 2009-10
• Allocation for JNNURM programme raised to Rs 11,842 crore.
• Rs 13,100 cr earmarked for Sarva Shiksha Abhiyan
• Rs 4,900 cr allocation under Bharat Nirman
• Aim to increase job opportunities to 12 million/year
• Infrastructure investment to be raised to over 9 per cent of GDP.
• Budget estimate for expenditure 09-10 put at Rs 953,231 crore.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09.
• 55 loss making PSUs against 73 when UPA took over.
• 2008-09 tax collection to exceed previous year
• Revised tax estimates at Rs 6.2 lakh crore against Rs 6.80 lakh crore.
• Rs 8,000 cr sanctioned for mid-day meal scheme during 2009-10.
• Total expenditures estimated at Rs 9.90 lakh crore versus Rs 7.50 lakh crore.
• FY09 revenue deficit 4.4% vs 1% estimate
• FY09 fiscal deficit @ 6% of GDP
• Tax collections down by Rs 60,000 cr over budget estimates for 2008-09
• Budget presentation resumes
• House adjourned for 10 minutes
• JDS MP Virender Kumar unwell
• Revised budget estimates 2008-09 increased to Rs 909,053 cr from Rs 750,884 cr.
• Distortions in tax structure have been reduced
• Rs 632 cr provided for recapitalisation of RRBs
• Significant improvement in health of PSU banks
• State run PSEs profit up 72 per cent in 2008-09.
• NPAs for PSU banks falls to 7.3 per cent in 2008-09
• PSU turnover up 84%
• Dividend contribution from PSUs increased by 86%
• 3.6 crore households gained from waiver
• Adhoc grants increased by 50%
• Pension schemes for widows, severely disabled launched
• 6 new IIMs to be operational by 2010
• 60.4 lakh houses constructed under Indira Awas Yojana during the year
• 2 more IITs in M.P. and Rajasthan
• Student loans increased from Rs 4,500 cr on March 31, 2004 to Rs 24,260 cr as on September 30, 2008
• Educational loan scheme revised
• Outlay for higher education hiked by 900%
• Govt's highest priority to rural sector
• Committed to ensuring food security
• Steps to bring back 9% growth needed
• Farm, SVCs, manufacturing are growth drivers
• FRBM targets relaxed to boost consumer demand
• Credit disbursement up three fold.
• Rs 13,500 cr agricultural revival package implemented in 25 states
• FDI inflows $23.3 bn in Apr-Nov up 45%
• Govt to consider more fiscal measures.
• Medium term target is to return to fiscal consolidation
• Debt waiver of Rs 65,300 cr till now.
• Agriculture credit disbursement has gone up
• Agriculture credit has been increased by three fold to Rs 2,50,000 crore
• Plan allocation to agriculture up 300%
• Employment generation schemes have to be expanded
• Need to revert to fiscal consolidation soon
• Extension of export credit for labour-intensive projects
• 37 infrastructure projects worth Rs 70,000 cr cleared
• Govt okayed 27 infrastructure projects between August 2008 - January 2009.
• In-principle nod for 50 infrastructure projects worth Rs 67,700 cr
• India Infrastructure Co to re-finance 60% of projects
• Inflation rate fell to 4.4% on Jan 31, 2009
• Revenue deficit cut from 3.6 per cent to 1.1 per cent
• Slow down in export growth to 17.1% for last 9 months
• Boost to public- private partnership projects through higher viability gap funding
• India second-fastest growing Economy @7.1% growth
• Agriculture annual growth rate 3.7%
• Farmers to get loans upto Rs 3 lakhs at 7%
• Investment as per cent of GDP rose to 29 per cent in 2007-08 from 27.6 per cent.
• Foreign trade at 35.5% of GDP
• Export growth at 26.4% annually in last 4 yrs
• Tax-GDP ratio at 12.5 per cent in 2007-08.
• Industrial production has fallen by 2 per cent
• India has weathered the Global crisis
• Global Economy will fare worse in 2009 than in 2008
• Export growth down to 17.1 per cent.
• Grain production encouraging for coming year
• Per capita income grew 7.4%
• Real heroes of our Economy are farmers
• Fiscal revenue down
• Average growth rate of agri @ 3.7%.
• Consistent 9% growth over three years
• Pranab begins Budget speech
• Pranab to present interim Budget at 11 am
• Pranab Mukherjee to present Union Budget