1220 hrs IST: Midday meal scheme to get Rs8000cr
1220 hrs IST: Rural jobs scheme to get Rs30100cr in FY 09-10
1216 hrs IST: Integrated Child Development Scheme gets Rs 6,705 crore in 2009-10
1215 hrs IST: Plan expenditure in 2009-10 may have to be increased substantially at the time of presentation of overall budget if we have to give economy the stimulus it needs: Mukherjee
1214 hrs IST: Rajiv Gandhi Rural Drinking Water Mission gets Rs 7,400 crore in 2009-10
1214 hrs IST: Bharat Nirman programme gets Rs 40,900 crore in 2009-10
1214 hrs IST: Allocation for JNNURM programme raised to Rs 11,842 crore
1213 hrs IST: Allocation for Sarva Shiksha Abhiyan programme increased to Rs13,100cr
1211 hrs IST: Defence allocation increased to Rs1,41,703cr in wake of Mumbai attacks
1211 hrs IST: Flagship NREGA scheme gets Rs 30,100 crore in 2009-10
1210 hrs IST: Budgetary support increased for MinIST: ries of Rural Development, Road Transport & Highway, Power, Railways, Industrial Policy & Promotion and IT
1208 hrs IST: Rs 40,000 crore relief extended through tax cuts to counter economic slowdown
1206 hrs IST: : Fiscal deficit for FY 09 at 6 pc of GDP
1203 hrs IST: : Revised estimates of tax collection at Rs 6.2 5 lakh crore
1159 hrs IST: : Tax collections down by Rs 60,000 crore over budget estimates for 2008-09
1155 hrs IST: : Per capita income increased 7.4% per annum during the UPA govt's tenure
1154 hrs IST: Fertiliser subsidy increased by Rs44,863cr from about Rs14,000cr during 2008-09
1152 hrs IST: Expenditure for 08-09: Rs750,884cr, Planned expenditure: Rs2,43,386cr
1148 hrs IST: 15-point programme for the welfare of minorities set up
1148 hrs IST: Rs 65,300 crore in loans waived for farmers in FY 08-09
1147 hrs IST: Revised budget estimates for 2008-09 increased to Rs 9,09,053 crore from Rs 7,50,884 crore
1146 hrs IST: Non-performing assets of public sector banks have fallen from 7.8% in 2007 to 2.3% in March 2008
1144 hrs IST: The PSU profits have gone up 72 pc from 53000 crore to 91000 crore and their contribution to the central exchequer has gone up 86%
1143 hrs IST: Rs 632 crore provided for recaptalisation of Regional Rural Banks
1143 hrs IST: Turnover of public sector companies increased from Rs587,000cr in 2003-04 to Rs10,87,000cr in 2007-08
1141 hrs IST: Outlay on higher education has been increased 900% in the 11th Five Year Plan
1138 hrs IST: FDI inflow of $23.3bn between April and Nov 08
1137 hrs IST: Govt to continue to provide interest subsidy to farmers in FY 10
1134 hrs IST: Student loans increased from Rs4,500cr to Rs24,260cr as on September 30 over 3 years
1133 hrs IST: New scheme for young widows in the age group of 18 to 40 unveiled; will get priority in admission to ITIs and a stipend of Rs 500 per month
1130 hrs IST: Inflation rate fell to 4.4 per cent on January 31, 2009
1129 hrs IST: World economy, according to forecasts, will fare worse in 2009 than in 2008
1128 hrs IST: India is second fastest growing economy in the world with 7.1% GDP expansion in 2008-09
1128 hrs IST: Export growth rate in first nine months of 2008-09 touched 17.1%. Industrial production fell by 2% in December
1128 hrs IST: Occasional downturns are inescapable in market economy, Mukherjee quotes Amartya Sen
1127 hrs IST: Allocation for agriculture increased by 300% from 2003-04 to 2008-09
Source: THE TIMES OF INDIA
============================
Highlights of the Budget
Following are the highlights of the interim budget presented by acting finance minIST: er Pranab Mukherjee in the Lok Sabha Monday:
* Revised fiscal deficit estimated at 6 per cent of GDP as against 2.5 per cent in the Budget estimate. Revised revenue deficit placed at 4.4 per cent as against 1 per cent in the Budget estimate for 2008-09.
*Fiscal deficit has gone up from Rs 133,287 crore in the budget estimates to Rs 326,515 crore in the revised estimates for 2008-09.
*Rs 40,000 crore relief extended through tax cuts to counter economic slowdown.
*Budget estimate for expenditure for 2009-10 put at Rs 953,231 crore. This includes Rs 285,145 crore for plan expenditure while non-plan spend put at Rs 668,883 crore.
* India remains second-fastest growing economy in the world
* Economy expected to grow 7.1 percent this fiscal
* Need to make economic growth inclusive
* Government spent Rs.70,000 (Rs.700 billion) crore 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 percent in past five years
* Three-fold increase in short-term agriculture credit to Rs.250,000 crore (Rs.2,500 billion)
* Farm debt worth Rs.65,300 crore (Rs.653 billion) waived
* 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 percent for 11th Five Year Plan
* Country's social security net will be strengthened
* 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
* In past three years, India grew by average of over 9 percent
* Per capita income expanded by 4.7 percent per annum
* Fiscal deficit was brought down from 4.5 percent to 2.7 percent
* Revenue deficit was cut from 3.6 percent to 1.1 percent
* Exports increased 26.4 percent per annum
* Foreign trade increased from 27.3 percent to 35.5 percent
* Tax to gross domestic product ratio expanded by 9.2 to 12.5 percent
* Agriculture grew by 3.7 percent per annum
Last year's financial highlights:
In past three years, India grew by average of over 9 percent
Exports grew at average annual growth rate of 26.4%
Gross domestic saving rate at 37.7%
Domestic investment rate at 39% in FY 08
Per capita income increased 7.4% per annum during the UPA govt's tenure
The GDP went from 7.5% in 04-05 to 9.7% in 06-07 and clocked 9% in 08
Fiscal deficit was brought down from 4.5 percent to 2.7 percent
Revenue deficit was cut from 3.6 percent to 1.1 percent
Foreign trade increased from 27.3 percent to 35.5 percent
Tax to gross domestic product ratio expanded by 9.2 to 12.5 percent
Agriculture grew by 3.7 percent per annum
Source: THE TIMES OF INDIA
.::. All my articles can be view here: MELTED HEARTS .::.
1220 hrs IST: Rural jobs scheme to get Rs30100cr in FY 09-10
1216 hrs IST: Integrated Child Development Scheme gets Rs 6,705 crore in 2009-10
1215 hrs IST: Plan expenditure in 2009-10 may have to be increased substantially at the time of presentation of overall budget if we have to give economy the stimulus it needs: Mukherjee
1214 hrs IST: Rajiv Gandhi Rural Drinking Water Mission gets Rs 7,400 crore in 2009-10
1214 hrs IST: Bharat Nirman programme gets Rs 40,900 crore in 2009-10
1214 hrs IST: Allocation for JNNURM programme raised to Rs 11,842 crore
1213 hrs IST: Allocation for Sarva Shiksha Abhiyan programme increased to Rs13,100cr
1211 hrs IST: Defence allocation increased to Rs1,41,703cr in wake of Mumbai attacks
1211 hrs IST: Flagship NREGA scheme gets Rs 30,100 crore in 2009-10
1210 hrs IST: Budgetary support increased for MinIST: ries of Rural Development, Road Transport & Highway, Power, Railways, Industrial Policy & Promotion and IT
1208 hrs IST: Rs 40,000 crore relief extended through tax cuts to counter economic slowdown
1206 hrs IST: : Fiscal deficit for FY 09 at 6 pc of GDP
1203 hrs IST: : Revised estimates of tax collection at Rs 6.2 5 lakh crore
1159 hrs IST: : Tax collections down by Rs 60,000 crore over budget estimates for 2008-09
1155 hrs IST: : Per capita income increased 7.4% per annum during the UPA govt's tenure
1154 hrs IST: Fertiliser subsidy increased by Rs44,863cr from about Rs14,000cr during 2008-09
1152 hrs IST: Expenditure for 08-09: Rs750,884cr, Planned expenditure: Rs2,43,386cr
1148 hrs IST: 15-point programme for the welfare of minorities set up
1148 hrs IST: Rs 65,300 crore in loans waived for farmers in FY 08-09
1147 hrs IST: Revised budget estimates for 2008-09 increased to Rs 9,09,053 crore from Rs 7,50,884 crore
1146 hrs IST: Non-performing assets of public sector banks have fallen from 7.8% in 2007 to 2.3% in March 2008
1144 hrs IST: The PSU profits have gone up 72 pc from 53000 crore to 91000 crore and their contribution to the central exchequer has gone up 86%
1143 hrs IST: Rs 632 crore provided for recaptalisation of Regional Rural Banks
1143 hrs IST: Turnover of public sector companies increased from Rs587,000cr in 2003-04 to Rs10,87,000cr in 2007-08
1141 hrs IST: Outlay on higher education has been increased 900% in the 11th Five Year Plan
1138 hrs IST: FDI inflow of $23.3bn between April and Nov 08
1137 hrs IST: Govt to continue to provide interest subsidy to farmers in FY 10
1134 hrs IST: Student loans increased from Rs4,500cr to Rs24,260cr as on September 30 over 3 years
1133 hrs IST: New scheme for young widows in the age group of 18 to 40 unveiled; will get priority in admission to ITIs and a stipend of Rs 500 per month
1130 hrs IST: Inflation rate fell to 4.4 per cent on January 31, 2009
1129 hrs IST: World economy, according to forecasts, will fare worse in 2009 than in 2008
1128 hrs IST: India is second fastest growing economy in the world with 7.1% GDP expansion in 2008-09
1128 hrs IST: Export growth rate in first nine months of 2008-09 touched 17.1%. Industrial production fell by 2% in December
1128 hrs IST: Occasional downturns are inescapable in market economy, Mukherjee quotes Amartya Sen
1127 hrs IST: Allocation for agriculture increased by 300% from 2003-04 to 2008-09
Source: THE TIMES OF INDIA
============================
Highlights of the Budget
Following are the highlights of the interim budget presented by acting finance minIST: er Pranab Mukherjee in the Lok Sabha Monday:
* Revised fiscal deficit estimated at 6 per cent of GDP as against 2.5 per cent in the Budget estimate. Revised revenue deficit placed at 4.4 per cent as against 1 per cent in the Budget estimate for 2008-09.
*Fiscal deficit has gone up from Rs 133,287 crore in the budget estimates to Rs 326,515 crore in the revised estimates for 2008-09.
*Rs 40,000 crore relief extended through tax cuts to counter economic slowdown.
*Budget estimate for expenditure for 2009-10 put at Rs 953,231 crore. This includes Rs 285,145 crore for plan expenditure while non-plan spend put at Rs 668,883 crore.
* India remains second-fastest growing economy in the world
* Economy expected to grow 7.1 percent this fiscal
* Need to make economic growth inclusive
* Government spent Rs.70,000 (Rs.700 billion) crore 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 percent in past five years
* Three-fold increase in short-term agriculture credit to Rs.250,000 crore (Rs.2,500 billion)
* Farm debt worth Rs.65,300 crore (Rs.653 billion) waived
* 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 percent for 11th Five Year Plan
* Country's social security net will be strengthened
* 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
* In past three years, India grew by average of over 9 percent
* Per capita income expanded by 4.7 percent per annum
* Fiscal deficit was brought down from 4.5 percent to 2.7 percent
* Revenue deficit was cut from 3.6 percent to 1.1 percent
* Exports increased 26.4 percent per annum
* Foreign trade increased from 27.3 percent to 35.5 percent
* Tax to gross domestic product ratio expanded by 9.2 to 12.5 percent
* Agriculture grew by 3.7 percent per annum
Last year's financial highlights:
In past three years, India grew by average of over 9 percent
Exports grew at average annual growth rate of 26.4%
Gross domestic saving rate at 37.7%
Domestic investment rate at 39% in FY 08
Per capita income increased 7.4% per annum during the UPA govt's tenure
The GDP went from 7.5% in 04-05 to 9.7% in 06-07 and clocked 9% in 08
Fiscal deficit was brought down from 4.5 percent to 2.7 percent
Revenue deficit was cut from 3.6 percent to 1.1 percent
Foreign trade increased from 27.3 percent to 35.5 percent
Tax to gross domestic product ratio expanded by 9.2 to 12.5 percent
Agriculture grew by 3.7 percent per annum
Source: THE TIMES OF INDIA
.::. All my articles can be view here: MELTED HEARTS .::.
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