Highlights of interim budget presented in Lok Sabha

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

May 26th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Tuesday said the government would present the budget for 2009-10 in the first week of July. "I would not like to have a second batch of vote on account.

February 15th, 2009 NEW DELHI - Lok Sabha Speaker Somnath Chatterjee had to Monday interrupt the interim budget presentation by Minister for External Affairs Pranab Mukherjee as an MP fell ill. A doctor was called in and the Lok Sabha was adjourned for 10 minutes.

February 15th, 2009 NEW DELHI - Home Minister P. Chidambaram Monday praised the interim budget tabled in parliament, saying Minister for External Affairs Pranab Mukherjee had done a commendable job given the difficult times facing the Indian economy.

February 15th, 2009 NEW DELHI - Following are the highlights of the interim budget presented by Minister for External Affairs Pranab Mukherjee in the Lok Sabha Monday: * 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

February 15th, 2009 NEW DELHI - Following are the reactions from some prominent industrialists and economists to the interim budget presented by acting finance minister Pranab Mukherjee here Monday: Deepak Parekh, chairman, HDFC Bank: Not a disappointment, I did not expect anything in the interim budget. It was never meant to be a giveaway.

February 15th, 2009 NEW DELHI - Lok Sabha Speaker Somnath Chatterjee had to Monday interrupt the interim budget presentation by Minister for External Affairs Pranab Mukherjee after Janata Dal-Secular MP M.P. Veerendra Kumar fell ill.

February 15th, 2009 NEW DELHI - Following are the highlights of the interim budget presented by Minister for External Affairs Pranab Mukherjee in the Lok Sabha Monday: * India remains second-fastest growing economy in the world * Economy expected to grow 7.1 percent this fiscal * Government spent Rs.70,000 crore (Rs.700 billion) 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 criris, but no room for complacency * Country's agriculture outlook is encouraging * Record foreign direct investment of $32.4 billion attracted * Extraordinary situation merits extraordinary measures * Need to consider additional fiscal measures in regular budget * 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

February 15th, 2009 NEW DELHI - External Affairs Minister Pranab Mukherjee began presenting the interim budget for the next fiscal amid expectations that measures will be announced to cushion the impact of global meltdown on the Indian economy, and help revive consumer demand. The exercise began with Mukherjee reading out his budget speech in the Lok Sabha, during which he will also seek an approval to finance the government's expenditure, till such time the regular budget is presented by a new government after elections, and passed by parliament.

February 15th, 2009 NEW DELHI - Reacting to criticisms over lack of measures in the interim budget presented Monday, Planning Commission Deputy Chairman Montek Singh Ahluwalia said in an election year, an incumbent government had the mandate only to present a vote on account. 'I think this is a failure to understand the limitations of an interim budget,' Ahluwalia said, soon after industry and average citizens complained that the interim budget tabled in parliament by External Affairs Minister Pranab Mukherjee had no specific measures on tax rates or to help cushion the impact of global slowdown.

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Railway Minister Lalu Prasad in Lok Sabha Friday: * 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 managed 8 percent growth in freight loading * Drop in train accidents, railway safety enhanced

February 12th, 2009 RAIPUR - The interim railway budget presented Friday by Railways Minister Lalu Prasad has let down expectations of Chhattisgarh despite the fact that the state generates high revenue for the railways, Chief minister Raman Singh said here. 'The interim rail budget is disappointing, it has let down expectations of millions of people of Chhattisgarh,' said Singh in his reaction to the interim budget.

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Railway Minister Lalu Prasad in Lok Sabha Friday: * Two percent reduction in fares for virtually all classes * 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 in five years * But freight down in current year due to economic downturn * 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 * Dedicated freight corridor from Ludhiana to Kolkata to be inaugurated later this month * Kolkata Metro will be expanded * Frequencies of a host of trains enhanced * Frequencies of several trains across the country increased to daily service * Steps to have railway connectivity to Kashmir initiated * Railways have set up four call centres

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

February 12th, 2009 BHOPAL - The interim railway budget presented Friday is disappointing for Madhya Pradesh, Chief Minister Shivraj Singh Chouhan said. 'The proposals like plying a daily Habibganj-Kurla train, running daily train between Bhopal and Lucknow, making the Puri-Jaipur Express bi-weekly, extending the Shatabdi to Indore, starting a third Bina-Itarsi line and adding a coach from Bhopal to the Jabalpur Mumbai-Garib Rath have not been implemented,' he said in a statement.