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Highlights of interim budget presented in Lok Sabha

delhi Updated: Feb 16, 2009 15:00 IST
IANS
Highlight Story

Following are the highlights of the interim budget presented by Minister for External Affairs Pranab Mukherjee in the Lok Sabha on Monday:

* Plan expenditure for 2009-10 pegged at Rs 953,231 crore (Rs 9.52 trillion)

* Budgetary support for 2009-10 at Rs 2,85,149 crore (Rs 2.85 trillion), 17.16 per cent

* Additional plan expenditure between 0.5 per cent to 1 per cent of GDP may be considered

* Subsidy for food, fertiliser and petroleum at Rs 95,579 crore (Rs 955.79 billion)

* Defence allocation increased to Rs 141,703 crore (Rs 1.417 trillion)

* Urban renewal spending pegged at Rs 11,842 crore (Rs 118.42 billion)

* Gross market borrowing estimated at Rs 3,62,000 crore in 2009-10 (Rs 3.62 trillion)

* 2009-10 gross budgetary support at Rs 2,85,000 crore (Rs 2.85 trillion)

* Substantial relief of about Rs 40,000 crore (Rs 400 billion) due to tax cuts in 2008-09

* Rural job schemes to get Rs 30,100 crore (Rs 301 billion) in 2009-10

* Rural sanitation spending at Rs 1,200 crore (Rs 12 billion)

* National rural health mission spending at Rs 12,070 crore (Rs 120.7 billion)

* Rural infrastructure development outlay at Rs 14,000 crore (Rs 140 billion)

* Midday meal scheme spending at Rs 8,000 crore (Rs 80 billion)

* India remains second-fastest growing economy in the world

* Economy expected to grow 7.1 per cent this fiscal

* Need to make economic growth inclusive

* Government spent Rs 70,000 crore (Rs 700 billion) on 37 infrastructure projects in 2008-09

* Under public-private partnership (PPP), 54 central infrastructure projects approved

* Total expenditure of PPP projects estimated at Rs 67,700 crore (Rs 677 billion)

* India Infrastructure Finance Company to raise Rs 10,000 crore (Rs 100 billion) by end-March

* India has weathered inflation crisis, but no room for complacency

* Country's agriculture outlook is encouraging

* Focussed attention to agriculture

* Plan allocation for farm sector hiked 300 per cent in past five years

* Three-fold increase in short-term agriculture credit to Rs 250,000 crore (Rs 2.5 trillion) in 2007-08

* Farm debt worth Rs 65,300 crore (Rs 653 billion) waived of 360 million farmeRs

* Government will continue to provide additional subsidy to farmers

* Corpus of Rural Infrastructure Development Fund hiked to Rs 14,000 crore (Rs 140 billion) from Rs 5,500 crore (Rs 55 billion)

* Outlay for higher education hiked 900 per cent for 11th Five-Year Plan

* Country's social security net will be strengthened

* New scheme unveiled for young widows in the age group of 18-40

* New disability pension scheme introduced for age group of 18-40

* 15-point programme for welfare of minorities set up

* Record foreign direct investment of $32.4 billion attracted

* Global economic situation not encouraging

* Extraordinary situation merits extraordinary measures

* Need to consider additional fiscal measures in regular budget

* Financial sector reforms need to be accelerated

* Non-performing assets (NPAs) of public sector banks have declined

* State-run banks see NPAs drop from 7.8 per cent to 2.3 per cent in four years

* Number of loss-making state-run units down from 73 to 58

* Profit-making units up from 143 units to 158 units

* In past three years, India grew by average of over 9 per cent

* Per capita income expanded by 4.7 per cent per annum

* Fiscal deficit was brought down from 4.5 per cent to 2.7 per cent

* Revenue deficit was cut from 3.6 per cent to 1.1 per cent

* Exports increased 26.4 per cent per annum

* Foreign trade increased from 27.3 per cent to 35.5 per cent

* Tax to gross domestic product ratio expanded by 9.2 to 12.5 per cent

* Agriculture grew by 3.7 per cent per annum

* Revised estimates for 2009-09 peg plan expenditure at Rs 282,957 crore (Rs 2.83 trillion)

* Central plan increased for host of areas like telecom, rural development

* Tax collections expected to fall to Rs 627,949 crore (Rs 6.28 trillion)

* Revised revenue deficit is 4.4 per cent of GDP against 1 per cent

* Revised fiscal deficit at 6 per cent of GDP against 2.5 per cent

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