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Budget Highlights By Finance Minister Pranab Mukherjee in Lok Sabha on Friday
Following are the highlights of the Budget speech for 2010-11 by Finance Minister Pranab Mukherjee in Lok Sabha on Friday.
- India weathered economic crisis well
- Need to review stimulus imparted to econony
- Need to review public spending and mobilise resources
- High food inflation due to bad monsoon & drought conditions
- Steps being taken to tackle price rise
- Economy in far better position than it was eight years ago
- First challenge is to quickly revert to 9% high GDP growth
- Second to make growth more inclusive and consolidate gains
- Impressive recovery in past few months
- Economy stabilised in Q1 of 2009 itself
- 18.5% manufacturing growth in Dec highest in two decades
- Faster recovery seen in the coming months
- Figures for merchandise exports for January encouraging
- Food security strengthened
- Govt's focus on services to economically backward sections
- Hope to implement Direct Tax Code from April 2011
- Status paper on public debt within six months
- Endeavour to implement General Sales Tax in April 2011
- Govt will raise Rs 25,000 cr from disinvestment in PSUs
- Market cap of five PSUs listed since October up 3.5 times
- Fuel price deregulation proposal will be taken up
Source: The Pioneer Budget Highlights By Finance Minister Pranab Mukherjee in Lok Sabha on Friday
Click On "Full Story" For More...
By ugesh sarkar, Section News
Posted on Fri Feb 26, 2010 at 01:06:17 AM EST
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- Nutrient-based fertiliser subsidy from April 1, 2010
- FDI inflows steady; Govt simplifying FDI regime
- To set up Financial Stability and Development Council
- RBI mulling additional banking licenses to pvt
- NBFC will be considered if they meet criteria
- 2% interest subvention on handicraft exports for 1 more yr
- Rs 200 crore for climate resilient agriculture initiative
- Committed to growth of Special Economic Zones
- Need for firm view on opening up retail sector
- Farm loan repayment eased by 6 months till June 30, 2010
- Crop loan interest subsidy for timely payment raised to 2%
- Propose to maintain thrust of rural, urban infra upgrade
- IIFCL authorised to refinance infrastructure projects
- Rs 1,73,552 cr provided for infrastructure development
- Railways allocation hiked Rs 950 cr to Rs 16,752 crore
- Govt proposes to set Coal Development Regulatory Authority
- Mega power plant policy modified to lower generation cost
- Allocation to power sector more than doubled to Rs 5,130 cr
- Govt for competitive bid for coal blocks for captive power
- Rs 500 crore for solar and hydro projects in Ladakh region
- New Clean Energy Fund for research in new energy sources
- Renewable Energy Ministry allocation up 61% to Rs 1000 cr
- Rs 200 cr one-time grant to Tirupur textile cluster in TN
- Outlay for Ganga River Basin Authority doubled to Rs 500 cr
- Alternative port at Sagar Island in West Bengal
- Draft of Food Security Bill ready; in public domain soon
- Outlay for social sectors pegged at Rs 1,37,674 crore
- Social sector outlay 37 per cent of total plan allocation
- Plan allocation for school education Rs 31,036 cr
- Allocation for health and family welfare Rs 22,300 cr
- For rural development Rs 66,100 cr allocated
- Indira Awas Yojana unit cost raised to Rs 45,000 in plains & Rs 48,500 in hilly areas.
- Allocation for urban development raised 75% to Rs 5,400 cr
- 1% loan interest subsdiy for houses upto Rs 20 lakh
- Outlay for micro & small scale sector raised to Rs 2,400 cr
- Rs 1,270 crore for slum development programme, up 700%
- National Social Security Fund with Rs 1000 cr outlay
- Allocation for women and child development hiked 80%
- Rs 1,000/yr to a/c holders under New Pension Scheme
- Outlay for Minority Affairs Min raised to Rs 2,600 cr
- Rs 1,900 cr for Unique Identification Authority of India
- Unique identity symbol for Indian Rupee like US Dollar etc.
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