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Wednesday, March 04, 2009

Budget report

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

  • 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 .
  • 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

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