Mayawati’s budget allocates lion’s share to infrastructure, social sector

August 27th, 2009 NEW DELHI - The 2009-10 Plan for Meghalaya was finalized here today at a meeting between the Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, and Meghalaya Chief Minister Dr. D.D. Lapang. The plan size was agreed at Rs.2100 crores.

July 23rd, 2009 NEW DELHI - The timely release of stimulus packages has helped the infrastructure sector post a good growth rate last month despite the economic slowdown, Commerce and Industry Minister Anand Sharma claimed here Thursday. Referring to the 6.5 percent growth rate achieved by the six core infrastructure sectors in June, Sharma said: "It's clear that the government's stimulus packages and the budgetary proposals have had a positive impact.

July 20th, 2009 NEW DELHI - The share of manufactured goods in India's exports declined from 81 percent in 1999-2000 to 63 percent in 2008-09, according to an industry lobby survey released here Monday. However, India's project exports - setting up infrastructure projects overseas - increased by over 25 percent during the same period, the report by the Associated Chambers of Commerce and Industry (Assocham) said.

July 7th, 2009 NEW DELHI - The United Nations Development Programme (UNDP) and World Health Organisation (WHO) Tuesday lauded the union budget, saying it would help achieve millennium development goals. We got to recognize that government of India has taken a strong step.

July 6th, 2009 New Delhi, July 6 (ANI): Bombay Stock Exchange (BSE) crossed 15,000 points on Monday as investors built positions ahead of presentation of general budget. Following the trends of the BSE the National Stock Exchange (NSE) also gained 14 points on the opening day.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee's proposal of investment-linked tax incentives for setting up cold chain infrastructure and warehousing facilities will greatly help the food processing industry in the country, said Minister for Food Processing Industries Subodh Kant Sahai. "I propose to extend investment-linked tax incentives to the businesses of setting up and operating cold chain, warehousing facilities for storing agricultural produce and the business of laying and operating cross-country natural gas or crude or petroleum oil pipeline network for distribution on common carrier principle," Mukherjee said in parliament Monday while presenting the union budget.

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.

June 25th, 2009 ISLAMABAD - Pakistan's parliament Thursday passed a Rs.2.9 trillion ($36 billion) budget for fiscal 2009-10 focusing on sustainable development, revival of industry and providing relief to the vulnerable and the millions of refugees uprooted by the anti-Taliban offensive in the northwest. The budget, which was presented June 13 by Minister of State for Finance Hina Rabbani Khar, will be effective July 1.

June 22nd, 2009 NEW DELHI - Delhi Government on Monday revealed through its budget that it would primarily focus its attention on transport sector, urban development and water and sanitation in the year ahead. The highest share in the budget 2009-10 has been earmarked for transport sector which was given Rs 3,069 crore (about 31 per cent) followed by Urban Development with Rs 1,524 crore (15 per cent) and Water and Sanitation with Rs 1,366 crore (14 per cent).

June 13th, 2009 ISLAMABAD - Pakistan has allocated Rs.646 billion ($8 billion) for the public sector in its budget for fiscal 2009-10 beginning July 1 that envisages GDP growth of 3.3 percent for the year. Of this, Rs.421 billion will be spent on federal government projects and Rs.200 billion by the provinces through their annual development programmes, while an allocation of Rs.25 billion has been made for earthquake victims' rehabilitation.

March 1st, 2009 SHIMLA - The Planning Commission has allocated Rs.27 billion for Himachal Pradesh for 2009-10, Chief Minister Prem Kumar Dhumal said Saturday. 'The annual plan for Himachal Pradesh has been fixed at Rs.2,700 crore (Rs.27 billion), which is Rs.300 crore (Rs.3 billion) more than last year,' Dhumal told reporters.

February 15th, 2009 NEW DELHI - Leading industry lobbies in the country said the interim budget, presented in the Lok Sabha Monday, failed to live up to expectations, but welcomed the higher spending in social and infrastructure sectors, saying it will 'help the economy get out of the current stagnation'. The Associated Chambers of Commerce and Industry (Assocham) said in its response that it had expected a third and last stimulus package in the interim-budget.

February 15th, 2009 NEW DELHI - Hours after External Affairs Minister Pranab Mukherjee presented the interim budget for 2009-10, India Inc. said Monday that the budget failed to live up to expectations, but welcomed the higher spending in social and infrastructure sectors, saying it will become the 'main source of demand generation'.

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 - The Indian realty sector, which is reeling under a severe fund crunch, Monday expressed disappointment over the interim budget for 2009-10, saying the government has done nothing to provide relief to the crisis-hit industry. 'The budget has failed to meet the expectations at this time of global downturn,' said Navin M.