The Union Budget of India 26th of February 2010 by Dr. Pranab Mukherjee - the honourable Finance Minister of India. Get the live Budget Speeches for 2010-11, Budget Highlights, Budget Expectations, Budget Glossary, Expectations of industry from the interim budget etc.
Due to immense pressure of price rise at this moment, there is a heavy toll of expectations from the union budget. The price of essential commodities like sugar, pulses and vegetables are on its peak. The rocketing price has been hitting the pockets of a middle class family very badly. People are looking for some relief in the budget. On the corporate front also, there seems to be an air of expectations. Industries are looking forward for the continuation of Stimulus packages.
Meanwhile Get the Review of Budget (2009-10):
Union Budget 2009-10
Democracy is the art and science of mobilizing the entire physical, economic and spiritual resources of various
sections of the people in the service of the common good of all.
~Mahatma Gandhi
{Sh. Pranab Mukherjee quoting the Father of the Nation in his Budget address on 6th July, 2009}
More Updates on Union Budget (2009-10)
Economy Overview
- - Whole sale price index rose to nearly 13 per cent in August, 2008 and had an
equally sharp fall to zero per cent in March, 2009.
- - Growth rate of Gross Domestic Product dipped from an average of over 9 per cent
in the previous three fiscal years to 6.7 per cent during 2008-09.
- - The structure of Indias economy changed over the last ten years with contribution
of the services sector to GDP at well over 50 per cent and share of merchandise
trade doubling to 38.9 per cent of GDP in 2008-09.
- - Recognising economic recovery and growth as co-operative effort of the Central
and State Governments, meeting with Finance Ministers of States held as part of
preparation of the Budget. This is intended to become an annual feature.
Steps for Revival of Economy
- - Fiscal accommodation led to an increase in fiscal deficit from 2.7 per cent in
2007-08 to 6.2 per cent of GDP in 2008-09.
- - To counter the negative fallout of the global slowdown on the Indian economy,
Government responded by providing three focused fiscal stimulus packages in the
form of tax relief and increased expenditure on public projects along with RBI
taking a number of monetary easing and liquidity enhancing measures.
- - The fiscal stimulus at 3.5 per cent of GDP at current market prices for 2008-09
amounts to Rs.1,86,000 crore.
- - Measures taken by the Government were effective in arresting the fall in GDP
growth rate in 2008-09. 6.7 per cent growth rate recorded in 2008-09.
Highway/Railways:
- - Allocation to National Highways Authority of India (NHAI) for the National
Highway Development Programme (NHDP) increased by 23 per cent over
B.E. 2008-09 in B.E. 2009-10 and allocation for Railways increased from Rs.10,800
crore in Interim B.E. 2009-10 to Rs.15,800 crore in B.E. 2009-10.
Urban Infrastructure:
- - Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM)
stepped up by 87 per cent to Rs.12,887 crore in B.E. 2009-10 over B.E. 2008-09.
Allocation for housing and provision of basic amenities to urban poor enhanced to
Rs.3,973 crore in B.E. 2009-10. This includes provision for Rajiv Awas Yojana
(RAY), a new scheme announced.
Development of Agriculture:
- - Target for agriculture credit flow set at Rs.3,25,000 crore for the year 2009-10.
In 2008-09 agriculture credit flow was at Rs.2,87,000 crore.
- - Interest subvention scheme for short term crop loans up to Rs.3 lakh per farmer at
the interest rate of 7 per cent per annum to be continued. Additional subvention of
1 per cent to be paid from this year, as incentive to those farmers who repay short
term crop loans on schedule. Additional allocation of Rs.411 crore over Interim
B.E. 2009-10 made.
- - It was brought to the knowledge of the parliament that the revenue
deficit has outgrown four-fold as a result of extension of stimulus
package provided to lot of industries in the light of the global
economic meltdown.
Improvement in Public Services:
- - Unique Identification Authority of India (UIDAI) to set up online data base with
identity and biometric details of Indian residents and provide enrolment and
verification services across country. Provision of Rs.120 crore made for this in the
Budget. First set to roll out in 12-18 months.
- - Additional amount of Rs.2,284 crore proposed over Interim B.E. 2009-10 for
construction of fences, roads, flood lights on the international borders.
- - Additional amount of Rs.430 crore provided over Interim B.E. 2009-10
to modernise police machinery in the States.
- - Programme for housing to create 1 lakh dwelling units for Central Para-military
Forces personnel to be launched through innovative financing model.
- - Rs.827 crore allocated for opening one Central University in each uncovered State.
- - Rs.2,113 crore allocated for IITs and NITs which includes a provision of Rs.450
crore for new IITs and NITs.
- - Rs.50 crore allocated for Punjab University, Chandigarh. Plan allocation for
Chandigarh to be suitably enhanced during the year to provide better infrastructure
to the people of Chandigarh.
- - The overall Plan budget for higher education is to be increased by Rs.2,000 crore
over Interim B.E. 2009-10.
- - Rs.1,000 crore allocated for programme for rebuilding the damaged infrastructure
caused due to cyclone Aila in West Bengal.
Budget 2010-11 Highlights
Capture all the information related to the highlights of Union Budget (2010-11) here. See if the Finance Minister has lived up to your expectations or not.
Union Budget Speech :
This section is dedicated for you to be the first to read the word-for-word transcripts of India's Finance Minister in his speech on Union Budget of India 2009.
Budget Expactations :
Mr. Pranab Mukherjee will be in thick of the action when he rolls out the Union Budget (2010-11). See if this year's budget could meet the expectations of the people of India.
Rail Budget 2010-11 Highlights
Catch all the action of 2009 Railway Budget here with Surfindia. Get the budget highlights and latest information as the Railways Minister, Ms Mamta Banerjee unravels the Rail Budget.
Rail Minister Speech
Catch the entire transcript of budget speech in the parliament presented by the Railway Minister Ms Mamta Banerjee.
Rail Budget 2010-11 Updates
This section will acquaint you with all the updates of the newest edition of the Railway Budget (2010-11). Implementation of new fairs, more trains introduced and changes in rail facilities.
Rail Budget 2010-11 Review
Rail Budget presented by Ms Mamta Banerjee has invoked mixed reaction from all quarters.
Shri P. Chidambaram at his best, unraveling the budget for the fiscal year 2008-09. Capture the highlights from past years budget.
Shri P. Chidambaram at his best, unraveling the budget for the fiscal year 2008-09. Capture the highlights from past years budget.
We bring to you the budget for the fiscal year 2007-8 which was presented in the parliament by the Finance Minister, P. Chidambaram.
Presenting the Union Budget 2006-7 at a glance for your ready reference. Get informed on all the information related to the budget. See how the F.Minister had fullfiled budget aspirations of the people.
