New pension schemes for widows, disabled in interim budget

September 22nd, 2009 ITANAGAR - A physically disabled candidate has joined the Assembly election bandwagon in Arunachal Pradesh. Tami Taniang, 47, who got a National Award for his service to the physically disabled, is contesting elections as a candidate of the Janata Dal.

July 6th, 2009 NEW DELHI - The Indian government Monday partially met the "one-rank-one-pension" (OROP) demand of the armed forces, announcing enhanced pensions for soldiers and junior commissioned officers (JCOs) that will entail additional expenditure of Rs.2,100 crores per year. Officers, however, who had initiated the OROP demand, have been ignored.

July 6th, 2009 NEW DELHI - With a cherry-brown briefcase in hand, Finance Minister Pranab Mukherjee arrived in parliament Monday to present India's budget for this fiscal with hopes high that his proposals will help put the $1.2 trillion economy back on the high growth track. Dressed in a spotless white bandhgala suit, the 73-year-old politician will have to draw from his experience of having presented three regular budgets as finance minister between January 1982 and December 1984 to find the resources for a host of pre-election promises made by his Congress party.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government has decided to substantially improve the pension of pre 01.01.2006 defence pensioners below officer rank and bring pre 10.10.1997 pensioners on par with post 10.10.1997 pensioners. Presenting the Budget proposals for the year 2009-10 in Lok Sabha, Mukherjee said that it was based on the recommendation of the Committee headed by the Cabinet Secretary on One Rank One Pension (OROP).

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

May 1st, 2009 NEW DELHI - The New Pension Scheme (NPS) has been launched on 'Labour Day' on Friday for all the citizens. This followed the confirmation by the National Interim Pension Regulator of the scheduled launch of the Mega Pension Plan from Friday.

February 15th, 2009 NEW DELHI - In an exercise that has disappointed India Inc and the average citizen alike, External Affairs Minister Pranab Mukherjee Monday tabled a Rs.953,231-crore (Rs.9.53 trillion/$190.6 billion) interim budget for 2009-10 that keeps tax rates unaltered and steps up social sector spending, while giving a skip to fiscal prudence in times of 'extraordinary' circumstances. Primarily devoting his 69-minute speech to highlighting the achievements of the United Progressive Alliance (UPA) government with an eye clearly to the ensuing general elections, Mukherjee expressly chose to leave additional measures required to counter the economic slowdown for the regular budget to address.

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 - 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 - With no changes in tax rates but higher spending toward social sector projects, Minister for External Affairs Pranab Mukherjee Monday tabled a Rs.952,231 crore (Rs.9.52 trillion/$190.6 billion) interim budget for 2009-10 that chose to give fiscal prudence a miss during 'extraordinary economic circumstances'. Presenting the interim budget on behalf of Prime Minister Manmohan Singh who is recovering from heart bypass surgery, Mukherjee devoted large parts of his 69-minute speech to the achievements of the United Progressive Alliance (UPA) government and said additional steps needed to be considered in the regular budget to be presented by the next government, after the ensuing general elections in a month or two.

February 15th, 2009 THIRUVANANTHAPURAM - The first reactions from Kerala to the interim budget presented in Parliament Monday by Minister for External Affairs Pranab Mukherjee have been those of disappointment. Mukherjee, presenting the interim budget on behalf of Prime Minister Manmohan Singh who is recovering from heart bypass surgery, said additional steps would have to be considered in the regular budget to be presented by the next government, after the ensuing general elections in a month or two.

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 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 - An amount of Rs.10 billion has been earmarked in the interim budget for building infrastructure for the 2010 Commonwealth Games, an official statement said here Monday. 'The Delhi government has been allocated an amount of Rs.24.18 billion in the union interim budget 2009-10 presented Monday in parliament by acting Finance Minister Pranab Mukherjee,' the statement said.

February 4th, 2009 NEW DELHI - Widows and the disabled living below the poverty line have been brought within the ambit of a social security scheme for senior citizens over the age of 65, it was announced here Thursday. 'The cabinet today (Thursday) approved the expansion of the National Social Assistance Programme (NSAP) to include other vulnerable groups of the society,' Home Minister P.