Allocation for export market development increased

July 6th, 2009 NEW DELHI - With the exports dipping for the second consecutive month in May, the allocation for the market development scheme for exporters has been increased 148 percent to Rs.124 crore, Finance Minister Pranab Mukherjee said while presenting the union budget for 2009-10 in the Lok Sabha Monday. The market development scheme provides support to exporters in developing new markets.

July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: - Agriculture debt waiver extended by six months - Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget - Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore - Allocation for Bharat Nirman scheme increased by 45 percent - Rs.20 billion for rural housing - Rural electrification scheme to get Rs.7,000 crore more - Tax department to work on early introduction of Saral 2 forms - Stimulus for print media extended from June 13 to Dec 31 - Rs.1,000 crore to accelerate irrigation projects - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore - Pre-shipment interest subvention set at 2 percent for textile exporters - Will make sufficient funds for infrastructure development - Allocation for national highways development stepped up by 23 percent - Allocation for urban poor schemes to be raised to Rs.39,730 crore in 2009-10 - LNG infrastructure to be expanded - Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the provisions for the Scheme 'Mission in Education through ICT' has been substantially increased to Rs. 900 crore. Presenting the Union Budget proposals for the year 2009-10 in Lok Sabha, he said: "Similarly, for establishment and up-gradation for Polytechnics under the Skill Development Mission has been increased to Rs.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday stepped up by 45 percent the budgetary allocation for the flagship Bharat Nirman (Build India) programme that focuses on rural development and poverty alleviation.

July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: - Fiscal deficit estimated at 6.8 percent of GDP - National Housing Bank to get Rs.2,000 crore for rural housing funds - Higher education outlay increased by Rs.2,000 crore over interim budget - Geological Survey of India, Botanical and Zoological Survey of India to get Rs.15 crore each. - National River programmes to get Rs.562 crore, up from Rs.335 crore earlier - Rs.1,000 crore for reconstruction activities in the Aila-hit areas in West Bengal - An additional amount of Rs.430 crore allocated to modernise police machinery in states - Rs.190 crore budgetary support for civil aviation - One handloom mega cluster each will be set up in West bengal and Tamil Nadu - One powerloom mega cluster in Rajasthan - At least 50 percent of the total rural women to be brought under the self-help group (SHG) network - Banking network to be expanded to "unbankable" areas -Expert group to be set up to advice on petroleum and diesel prices - No change in corporate tax rate -Centralised processing centre at Bangalore to streamline taxation - Income tax exemption limit for senior citizens increased by Rs.15,000, for women and others by 10,000 each - New indirect tax will be introduced in 45 days - Fringe benefit tax abolished - Duties on life saving drugs reduced - Excise duty on petrol-driven trucks reduced - Goods and services tax (GST) will be introduced April 1, 2010 - An alternative dispute settlement mechanism to be set up to settle tax disputes - Lawyers brought under the ambit of service tax - Tax exemption on profits in the natural gas sector extended - Customs duty on LCD TVs reduced to 5 percent from 10 percent - Five percent customs tax imposed on set-top boxes - Rs.500 crore for the rehabilitation of displaced Sri Lankan Tamils and reconstruction activities in that country - Aligarh Muslim University off-campus centres to be set up in Murshidabad in West Bengal and Malappuram in Kerala - Allocation for the minority affairs ministry raised to Rs.1,740 crore - Plan expenditure up 34 percent, non-plan spend up 37 percent - Total spending increased to Rs.10.2 lakh crore - Rs.420 crore for new IITs and NITs - Commonwealth Games allocated Rs.3,472 crore - National unique identification numbers to start rolling out in 12-18 months - Paramilitary forces such as CRPF to get 100,000 homes - Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore - Agriculture debt waiver extended by six months - Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget - Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore - Allocation for Bharat Nirman scheme increased by 45 percent - Rs.20,000 crore for rural housing - Rural electrification scheme to get Rs.7,000 crore more - Tax department to work on early introduction of Saral 2 forms - Stimulus for print media extended from June 13 to Dec 31 - Rs.1,000 crore to accelerate irrigation projects - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore - Pre-shipment interest subvention set at 2 percent for textile exporters - Sufficient funds for infrastructure development - Allocation for national highways development stepped up by 23 percent - Allocation for urban poor schemes to be raised to Rs.39,730 crore - LNG infrastructure to be expanded - Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: - Tax department to work on early introduction of Saral 2 forms - Stimulus for print media extended from June 13 to Dec 31 - Rs.1,000 crore to accelerate irrigation projects - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore - Pre-shipment interest subvention set at 2 percent for textile exporters - Will make sufficient funds for infrastructure development - Allocation for national highways development stepped up by 23 percent - Allocation for urban poor schemes to be raised to Rs.39,730 crore in 2009-10 - LNG infrastructure to be expanded - Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore There's a lot of exciting revelations speculated this afternoon, do stay with us to get the latest news, views and incisive details. and bookmark the following link: Indian Budget 2009-10 We are updating every minute.

July 6th, 2009 NEW DELHI - Infrastructure development continues to be a priority area for the United Progressive Alliance (UPA) government with Finance Minister Pranab Mukherjee increasing public investment in this sector. "The investment in infrastructure for the growth of economy is critical.

July 6th, 2009 NEW DELHI - The allocation for the Jawaharlal Nehru National Urban Renewal Mission has been increased by 87 percent to Rs.12,887 crore, Finance Minister Pranab Mukherjee said while presenting the union budget in parliament Monday. Additionally, the Indira Awas Yojna, a housing programme for the poor, has been allocated Rs.2,000 crore, while a Rs.2,000-crore special fund has been set up to finance rural housing projects.

July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: - Plan expenditure up 34 percent to Rs.1,025,838 crore, non plan spend up 37 percent - Total spending increased to Rs.10.2 lakh crore - Rs.420 crore for new IITs and NITs - Commonwealth Games allocated Rs.3,472 crore - National unique identification numbers to start rolling out in 12-18 months - Paramilitary forces such as CRPF to get 100,000 homes - Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore - Agriculture debt waiver extended by six months - Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget - Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore - Allocation for Bharat Nirman scheme increased by 45 percent - Rs.20 billion for rural housing - Rural electrification scheme to get Rs.7,000 crore more - Tax department to work on early introduction of Saral 2 forms - Stimulus for print media extended from June 13 to Dec 31 - Rs.1,000 crore to accelerate irrigation projects - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore - Pre-shipment interest subvention set at 2 percent for textile exporters - Sufficient funds for infrastructure development - Allocation for national highways development stepped up by 23 percent - Allocation for urban poor schemes to be raised to Rs.39,730 crore - LNG infrastructure to be expanded - Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

July 6th, 2009 NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: - No change in corporate tax rate - Income tax exemption limit for senior citizens increased by Rs.15,000, for women and others by 10,000 each - New indirect tax will be introduced in 45 days - Fringe benefit tax abolished - Goods and services tax (GST) will be introduced April 1, 2010 - An alternative dispute settlement mechanism to be set up to settle tax disputes - Lawyers brought under the ambit of service tax - Tax exemption on profits in the natural gas sector extended - Customs duty on LCD TVs reduced to 5 percent from 10 percent - Five percent customs tax imposed on set-top boxes - Rs.500 crore for the rehabilitation of displaced Sri Lankan Tamils and reconstruction activities in that country - Aligarh Muslim University campuses to be set up in Murshidabad in West Bengal and Malappuram in Kerala - Allocation for the minority affairs ministry raised to Rs.1,740 - Plan expenditure up 34 percent, non-plan spend up 37 percent - Total spending increased to Rs.10.2 lakh crore - Rs.420 crore for new IITs and NITs - Commonwealth Games allocated Rs.3,472 crore - National unique identification numbers to start rolling out in 12-18 months - Paramilitary forces such as CRPF to get 100,000 homes - Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore - Agriculture debt waiver extended by six months - Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget - Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore - Allocation for Bharat Nirman scheme increased by 45 percent - Rs.20,000 crore for rural housing - Rural electrification scheme to get Rs.7,000 crore more - Tax department to work on early introduction of Saral 2 forms - Stimulus for print media extended from June 13 to Dec 31 - Rs.1,000 crore to accelerate irrigation projects - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore - Pre-shipment interest subvention set at 2 percent for textile exporters - Sufficient funds for infrastructure development - Allocation for national highways development stepped up by 23 percent - Allocation for urban poor schemes to be raised to Rs.39,730 crore - LNG infrastructure to be expanded - Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

July 6th, 2009 NEW DELHI - In keeping with the United Progressive Alliance (UPA) government's inclusive growth mantra, Finance Minister Pranab Mukherjee Monday announced a slew of schemes for the aam aadmi (common man). The major measures announced in his union budget for 2009-10 are: - Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore - Agriculture debt waiver extended by six months - Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget - Allocation for Bharat Nirman scheme increased by 45 percent - Rs.20,000 crore for rural housing - Rural electrification scheme to get Rs.7,000 crore more - Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore - Allocation for urban poor schemes to be raised to Rs.39,730 crore - LNG infrastructure to be expanded - National Housing Bank to get Rs.2,000 crore for rural housing funds - Higher education outlay increased by Rs.2,000 crore over interim budget - Income tax exemption limit for senior citizens increased by Rs.15,000, for women and others by 10,000 each - Duties on life saving drugs reduced - Allocation for the minority affairs ministry raised to Rs.1,740 crore - Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore - Rs.1,000 crore to accelerate irrigation projects - Allocation for Jawaharlal Nehru National Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

July 6th, 2009 MUMBAI - The All India Association of Industries (AIAI) has welcomed the hikes in allocations for infrastructure, agriculture and small and medium enterprises (SMEs) for exports in the fiscal 2009-10 budget announced Monday, and termed the move as growth-oriented". According to AIAI president Vijay Kalantri, the increased allocation of Rs.5,000 crore for railways, 23 percent for national highways, higher allocation for gas grid, Rs.7,000 crore for rural electrification and 87 percent increase in the Jawaharlal Nehru National Urban Renewal Mission would generate employment and serve as a growth stimulus.

January 19th, 2009 BHUBANESWAR - India's marine product export earnings declined at least 10 percent last year following a slump in demand triggered by the global financial meltdown, a senior industry official here said. 'The export scenario does not appear encouraging.

December 30th, 2008 THIRUVANANTHAPURAM - The Kerala government Wednesday approved a draft memorandum to be submitted to the 13th Finance Commission with demands including higher share in the central taxes and hike in the open market borrowing cap. Addressing reporters after the weekly cabinet meeting here, Chief Minister V.S.

December 25th, 2008 NEW DELHI - The government Friday announced allocation of Rs.3.5 billion (Rs.350 crore) to the state-run Export Credit Guarantee Corp of India Ltd (ECGC) for providing higher risk cover to micro, small and medium exporters (MSME). The Cabinet Committee on Economic Affairs gave its approval for allocation of the amount that will increase the risk cover to the MSMEs from 85 percent to 95 percent.