Interim budget disappointing: Kerala minister

July 6th, 2009 MUMBAI - The budget has proved to be a letdown for the corporate sector and has not been very encouraging in view of the current economic scenario, according to noted city-based corporate tax consultant J.P. Purohit. "Even the raised exemption limit of Rs.10,000 in personal income tax is hardly any relief given the high prices in the markets, though the abolition of fringe benefit tax is a good step," Purohit observed.

July 3rd, 2009 THIRUVANANTHAPURAM - Kerala got a fair share of the budgetary proposals of Railways Minister Mamata Banerjee tabled in parliament Friday. The small southern state which had long complained of being "neglected" by successive railways ministers got eight new trains, two new railway lines and a railway medical college.

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.

February 21st, 2009 THIRUVANANTHAPURAM - Kerala Finance Minister Thomas Isaac, who tabled the state budget in the assembly Friday, has allocated Rs.100 million (Rs.10 crore) for the newly-floated Pravasi Welfare Fund, a scheme to help those non-resident Malayalis who have not completed two years of employment abroad but have to return on account of the global meltdown. 'This is basically for those who have spent a lot of money to go abroad, and as the first step, we will have a registry of those returning and the money will be allocated after studying their needs,' said Isaac.

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 - 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 KOLKATA - The interim budget presented by External Affairs Minister Pranab Mukherjee did not address the problem of rising unemployment in the country due to global economic crisis, West Bengal Finance Minister Asim Dasgupta said here Monday. 'The budget failed to address consequences related to global economic crisis,' he told reporters at the Writers Buildings - the state secretariat.

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 - External Affairs Minister Pranab Mukherjee did not present a populist budget as the United Progressive Alliance (UPA) government had done a 'tremendous job' and does not need to play to the gallery, the ruling Congress maintained Monday. Mukherjee observed 'constitutional propriety' while presenting the interim budget, Congress spokesperson Manish Tewari said.

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 15th, 2009 NEW DELHI - Prime Minister Manmohan Singh Monday hailed the interim budget as a 'fine balancing act', and said it will stimulate growth for the country in these difficult times. 'I have no doubt that the continued stimulus for the various flagship programmes of the government will provide relief to all sections - specially the 'aam aadmi' (common man),' the prime minister said in a statement.

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.

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 BHUBANESWAR - Orissa has been neglected in interim railway budget presented by Railways Minister Lalu Prasad in Parliament Friday, Orissa Chief Minister Naveen Patnaik said here. 'I am disappointed as Orissa has been neglected,' Patnaik told reporters here, adding that only one new express train was proposed to be introduced in the state in 2009-2010.

February 12th, 2009 THIRUVANANTHAPURAM - Kerala chief minister V.S. Achuthanandan Friday said he is disappointed with the interim rail budget for 2009-10 presented by Railways Minister Lalu Prasad in parliament.