India Budget 2009 | India Union Budget 2009 | India Budget 2009 Live Highlights

Today, 6th July, 2009 The Finance minister Pranab Mukherjee presented the Union Budget for 2009-10 in Lok Sabha. The first budget of India was presented by by India's first Finance Minister Sir R.K on 26th November, 1947. After then 28 Union Finance Ministers have been presenting the Indian budget every year. Today Pranab Mukherjee arrived at parliament and started his speech at 10:31 am. He said that the mandate has been for equitable growth and the government would at the same time try to 'promote growth'. He said the government would 'lead the economy back to growth range of nine per cent per annum'. Get More info click Here.

Union Budget Highlight 2009 - 2010

• Exemption of duty on goods made at construction sites restored
• Customs duty on gold and silver import increased
• Customs duty of 5% being levied on import of set-top boxes
• Custom duty on LCD panels halved
• Customs duty on bio-diesel reduced
• Drugs for heart diseases to become cheaper
• Commodities Transaction Tax to be rolled back
• Small businesses exempt from advance tax
• Tax holiday extended for textile units
• Set-top boxes to cost more
• New direct tax code in 45 days
• Mobile phone accessories to become cheaper
• Anonymous funds to charitable bodies to get some tax relief
• Higher public investment in infrastructure
• Total budget expenditure for 2009-10 will Rs 10,28,032 cr
• One lakh dwelling units for paramilitary forces to be built
• GST to come into effect from April 01, 2010
• Allocation for rehab of Lankan Tamils
• Defence outlay has gone up
• Pension of non-commissioned officers to be hiked
• Corporate tax unchanged
• New tax code to be set up in 45 days
• New pension benefits for 12 lakh jawans and JCOs
• Eliminate the surcharge on personal Income tax by 10%
• Fringe Benefit Tax to be scrapped
• General Sales Tax model will have a Central GST and State GST
• Hike in IT exemption for women to Rs 1,90,000
• Hike in IT exemption to Rs 2,40,000 for senior citizens
• Interest subsidy on students' loans in higher education
• Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
• Rs 2,113 cr for IITs and NITs
• Rs 1,000 cr for Aila rehabilitation programme to West Bengal
• Pension of non-commissioned officers to be hiked
• Commonwealth allocation hiked to Rs 16,300 cr
• Govt to hike allocation to National Ganga Project to Rs 562 cr
• Rs 7000 cr for rural electrification
• Allowances to para-military forces at par with defence forces
• Government to spend Rs.12K cr on rural roads in FY'10
• NREGA gave jobs to more than 4.479 cr households
• Unique Identification ID project to tap private talent
• Rice, wheat at Rs 3 per kg to the poor
• 50% cent of rural women in self-help groups
• One rank, one pension for ex-servicemen from July 1
• Real wage of Rs.100/day provided under NREGA
• Full interest subsidy for students in approved institutions
• Modernisation of national employment exchanges
• National action plan on climate change
• Rs 100 cr one-time grant to expand banks in unbanking areas
• Work on National Food Security scheme for subsidised food
• Allocation of Rs 50 cr to Chandigrah University
• Government to shift to nutrient based fertiliser subsidy regime
• Allocation for PM Gram Sadak Yojna up by 59 per cent
• Government to introduce food security bill
• Scheduled commercial bks can set up offsite ATM
• Will create close to 12 million jobs
• Institutional refo reform measures to stabilise BOP
• To provide all possible relief to exporters
• Rs 4000cr fund to incentivise banks & SFCs to lend
• Aiming for direct transfer of subsidy to farmers
• Rural mega clusters in Bengal and Rajasthan
• National Mission for female literacy
• Banking network to be expanded
• LNG infrastructure in the country being expanded
• One banking centre in every bloc
• Rs 31,100 crore allocation for NREGA
• Rural mega clusters in Bengal and Rajasthan
• Interest subsidy for home loans up to Rs 1 lakh
• Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
• Hike in allocation for Mumbai flood management
• NREGA gave employment opportunities to more than 4.479 cr households
• Banks, insurance to stay with Government
• Raise threshold for non-promoter public listed companies
• Will ensure farm sector growth at 4%
• Need to strengthen improve regulatory framework
• Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%
• Total fiscal stimulus during '08-09 is Rs 1,86,000 cr
• Set up a task force for farmer lending
• FIIs have returned to India in last few months
• Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
• Export Credit Guarantee scheme extended till March 2010
• Additional budget allocation to farmers
• Private investment has been the key growth driver
• Print media stimulus package extended by six months
• Allocation to NHAI increased by 23%
• An expert group will look into petroleum product pricing
• GDP grew at 6.7% in 2008-09
• Blueprint for national gas grid
• IIFCL will refinance 60% of commercial bank loans in PPP
• IIFCL will look at new projects
• IIFCL will also look at incremental lending by banks
• Incentives in interest rates to farmers to pay back
• Agriculture loans in time
• Storm-water drainage project fund hiked to Rs 500 cr
• JNNURM allocation hiked by 87 per cent
• 1% int subvention to farmers making timely payment
• Move towards energy security via Integrated Energy Act
• Saral-II forms to simplify taxation process
• Raise threshold for non-promoter public listed companies
• Hike infrastructure investment to over 9% of GDP by 2014
• Fund alloction for urban poor accommodation is 3,973,000 cr
• Domestic oil prices must be in sync with global prices
• Need to reduce population below poverty line
• Housing allocation hiked under Rajiv Gandhi Rozgar Yojana
• Trade in goods and services doubled in 2008
• Significant hike in foreign capital
• New company IIFCL to look at infrastructure needs
• Signs of revival in the domestic industry
• Fiscal stimulus gave economy a boost
• Govt took 3 stimulus packages to fight slowdown

General Budget 2009 -10 highlights

• Growth rate in 2008-09 dipped to 6.7 per cent from average nine per cent growth in previous three fiscal years.
• In goods and services doubled to 47 per cent in 2008-09
• Total fiscal stimulus during 2008-09 amounts to Rs 1,86,000 crore.
• Fiscal deficit grew from 2.7 per cent to 6.8 per cent of GDP
• Indian Infrastructure Finance Company Limited will re-finance commercial bank loans upto 60 per cent in critical projects through public private partnership to the tune of Rs 1,00,000 crore to raise investment in the sector.
• Allocation for urban poor for provision for housing and basic amenities to be raised to Rs 3,973 crore in the current year.
• Allocation for Jawaharlal Nehru Urban Renewal Mission increased by 87 per cent to Rs 12,887 crore.
• Allocations for highways being stepped up by 23 per cent.
• More funds allocated to help Mumbai fight floods during rains.
• Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
• Central assistance for storm-water drainage project increased to Rs 500 crore from Rs 200 crore in the interim budget
• Print media stimulus package extended by six months
• Domestic oil prices must be in sync with global prices
• An expert panel will look into petroleum product pricing
• Storm-water drainage project fund hiked to Rs 500 cr
• Fertiliser subsidy to go directly to farmers
• Export Credit Guarantee scheme extended till March 2010
• Additional budget allocation to farmers.
• Work on National Food Security scheme for subsidised food
• Rs 100 cr one-time grant to expand banks in unbanking areas
• Blueprint for national gas grid
• Indira Awaas Yojna hiked by 63 per cent to Rs 8,883 cr
• Allocation for Prime Minister Gram Sadak Yojna up by 59 per cent
• Rs 39,100 crore allocation for NREGA
• Rural mega clusters in Bengal and Rajasthan
• Interest subsidy on education loans (ANI)

Railway Budget 2009 - 10 Highlights

• Introduction of 57 new train services
• Extension of 27 new trains
• Increase in frequency of 13 trains
• The sops also covered students of Madrassas to whom concessions will be extended.
• Making 'Tatkal' scheme more user-friendly by reducing the advance booking period from five days to two days and minimum charge from Rs 150 to Rs 100.
• Concessional monthly season tickets to students in Kolkata will be applicable for travel in the Kolkata Met

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