Defence gets Rs.1,41,703 crore in interim budget

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday proposed an additional sum of Rs.430 crore (Rs.4.3 billion), over and above the provisions in the interim budget, for the modernization of state police forces and also earmarked Rs.2,284 crore (Rs.22.84 billion) for construction of fences, roads and flood lights along the international borders. Presenting the financial budget for 2009-10 in parliament, Mukherjee said that paramilitary personnel will also get special risk/hardship allowances at par with the defence forces.

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 NEW DELHI - Finance Minister Pranab Mukherjee has proposed to substantially enhance the allocations for the Commonwealth Games 2010 from Rs. 2,112 crore in the interim budget to Rs.

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 - India's defence expenditure during 2009-10 remains unchanged from Rs.141,703 crore ($28 billion) allocated in the interim budget earlier this year - which was a hike of 34 percent over the previous year. Finance Minister Pranab Mukherjee, while presenting the budget in the Lok Sabha, had a word of cheer for soldiers and junior commissioned officers (JCOs), saying their pensions would be enhanced.

July 3rd, 2009 NEW DELHI - Union Railway Minister Mamata Banerjee has proposed an outlay of Rs.40,745 crore for 2009-2010, which is 2840 crore more than the allocation proposed in the interim budget. "Rs. 15, 675 crore will be deployed through internal resources and Rs.9, 170 crore from market borrowings.

July 3rd, 2009 NEW DELHI - Taking a dig at her predecessor Lalu Prasad, Railways Minister Mamata Banerjee Friday said the target set by him for the railways in the interim budget was "unrealistically high". "Based on the reviews, it is very clear that the unrealistically high targets set in the interim budget are not sustainable and warrant a mid course correction," Banerjee said while presenting her ministry's budget for the current fiscal in the Lok Sabha.

April 1st, 2009 BANGALORE - State-run defence behemoth Hindustan Aeronautics Ltd (HAL) posted a turnover of Rs.10,260 crore in 2008-09, registering a 19 percent increase year-on-year from Rs.8,625 crore, the company said Wednesday. 'With this record performance, we have met the memorandum of understanding (MoU) parameters signed with the defence ministry,' the company said in a statement.

March 18th, 2009 MUMBAI - The Maharashtra government's interim budget for the current year, presented Tuesday, shows a yawning deficit of over Rs.84.6 billion (Rs.8,462 crore), but no new taxes have been imposed and there has been no cut on developmental expenditure. State Finance Minister Dilip Walse-Patil, unveiling the interim budget in the legislative assembly, emphasised that the Ashok Chavan-led Democratic Front government has earmarked funds to step up power generation, minimise load shedding, augmenting irrigation facilities and focussing on the social sector.

February 15th, 2009 NEW DELHI - Security experts have viewed as marginal the 34 percent hike in the defence allocation in the interim budget for 2009-10 presented in the Lok Sabha Monday, pointing to the armed forces returning Rs.7,000 crore from what had been earmarked for arms purchases during the fiscal ending Mar 31. 'On the face of it they are talking about an increase of 25 percent (in real terms) but much of it is going to be used to pay arrears to the armed forces personnel after the (hikes recommended by the) Sixth Pay Commission,' defence analyst Commodore (retd) C.

February 15th, 2009 NEW DELHI - The government Monday revised the total expenditure estimate in the current fiscal to a little over Rs.9 trillion (Rs.900,953 crore), an increase of Rs.1.5 trillion (Rs.150,069 crore) on account of increased assistance to states, greater sectoral investments and a higher subsidy burden. In the interim budget that he presented in the Lok Sabha, External Affairs Minister Pranab Mukherjee hiked the plan expenditure by Rs.395.71 billion (Rs.39,571 crore) to Rs.2.82 trillion (Rs.282,957 crore), against the budgeted estimate of Rs.2.43 trillion (Rs.243,386 crore).

February 15th, 2009 NEW DELHI - Maintaining a 'threshold has been crossed' with the Mumbai terror attacks, the Indian government hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 that External Affairs Minister Pranab Mukherjee presented in the Lok Sabha Monday. 'We welcome the budget,' Defence Minister A.K.

February 15th, 2009 NEW DELHI - Holding a 'threshold has been crossed' with the Mumbai terror attacks, the Indian government hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 External Affairs Minister Pranab Mukherjee presented in the Lok Sabha Monday. The allocation is nearly 15 percent of the total interim budget of Rs.953,231 crore for the fiscal beginning April 1.

February 15th, 2009 NEW DELHI - Saying a 'threshold has been crossed' with the Mumbai terror attacks, External Affairs Minister Pranab Mukherjee hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 he presented in the Lok Sabha Monday. The allocation is nearly 15 percent of the total interim budget of Rs.953,231 crore for the fiscal beginning April 1.

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Minister for Railways Lalu Prasad in Lok Sabha Friday: * Feasibility studies progressing well to start 'bullet trains' in India * Railways will create record surplus of Rs.900 billion (Rs.90,000 crore) this fiscal * In past five years, no burden imposed on train passengers * Railways saw 14 percent rise in passenger income * Railways managed 8 percent growth in freight loading * Drop in train accidents, railway safety enhanced * Rs.700 billion (Rs.70,000 crore) surplus ploughed back to improve efficiency * Rs.367.73 billion (Rs.36,773 crore) spent this fiscal toward productivity, passenger facilities * Railways to introduce wagons with higher capacity * Railways to spend Rs.230 billion (Rs.23,000 crore) in 2009-10 * Work has started on Delhi-Mumbai dedicated freight corridor