Sucheta Dalal :BUDGET HIGHLIGHTS
Sucheta Dalal

Click here for FREE MEMBERSHIP to Moneylife Foundation which entitles you to:
• Access to information on investment issues

• Invitations to attend free workshops on financial literacy
• Grievance redressal

 

MoneyLife
You are here: Home » What's New » BUDGET HIGHLIGHTS
                       Previous           Next

BUDGET HIGHLIGHTS  

July 6, 2009

 

* Govt plans to bring back economy to high growth of 9%

 

* GDP growth dipped to 6.7% in FY'09

 

* FM to make pre-budget talks with state FMs annual affair

 

* Fiscal deficit up from 2.7% to 6.8% of GDP

 

* Return to fiscal prudence at the earliest

 

* 'Aam admi' is focus of all programmes and schemes

 

* IT exemption limit raised; Rs15,000 for senior citizens

 

* Limit raised by Rs10,000 for tax payers, including women

 

* 10% surcharge on personal income tax scrapped

 

* Fringe Benefit Tax abolished

 

* No change in corporate tax

 

* Defence gets Rs1.4 trillion, up 34%

 

* Total fiscal stimulus in 2008-09 amounts to Rs 1.9 trillion

 

* IIFCL to evolve mechanism for increased funding of infra

 

* IIFCL to re-finance commercial bank loans up to 60% in critical projects through PPP to tune of Rs1 trillion

 

* Allocations for highways being stepped up by 23%

 

* Funds for housing, amenities for urban poor up Rs39.7 billion

 

* Funds for JN Urban Renewal Mission up 87% to Rs128.9 billion

 

* Assistance for storm-water drainage project up by Rs3 billion

 

* Farm credit target up at Rs3.3 trillion from Rs2.9 trillion

 

* Interest rates incentive to farmers to repay loans on time

 

* Additional Rs10 billion for accelerated irrigation scheme

 

* Export Credit Guarantee scheme extended till March 2010

 

* 2% interest subvention (IS) scheme extended till March 2010

 

* IS scheme to cover 7 job-oriented sectors, including textile, handicrafts and handlooms.

 

* Commodity Transaction Tax abolished

 

* New pension system trust exempted from STT DDT

 

* Minimum Alternate Tax hiked to 15% from 10%

 

* Tax holiday on petro sector extended to natural gas

 

* 100% tax deduction on political donation

 

* Stimulus for print media for another six months

 

* Fertilizer subsidy to be nutrient-based, not price

 

* Expert Group to form viable pricing for imported petro goods

 

* Banks and insurance firms to remain in public sector

 

* Rs1 billion one-time grant to expand banks in unbanked areas

 

* Govt committed to provide Rs100 a day as wages under NREGA

 

* Allocation of Rs391 billion to be made for NREGA, NREGA coverage increased to 4.


-- Sucheta Dalal



 



Recent Comments