The Hindu : New Delhi News : Delhi to benefit: Sheila

Online edition of India's National Newspaper
Friday, Jul 09, 2004

New Delhi

New Delhi

Delhi to benefit: Sheila

By Our Staff Reporter

NEW DELHI, JULY 8. Describing the Union Budget presented by P. Chidambaram in Parliament today as excellent, progressive and growth-oriented, the Chief Minister, Sheila Dikshit, said that Delhi would benefit immensely from the various urban development schemes announced by the Union Finance Minister. The Government would also save Rs. 4.8 crores following the revision of the interest rate on borrowings from the Central Government, she added.

Reacting to the budgetary proposals and schemes, Ms. Dikshit said that by the revision of the interest rate on the Central loans and borrowings from 10.5 per cent to 9 per cent, the Delhi Government would save Rs. 4.8 crore. The Central Plan assistance for Delhi remains same as last year and the Government would get funds in various shapes from the urban schemes announced by Mr. Chidambaram. Stating that the common man and the farmers have been given the good deal in the budget, the Chief Minister said the thrust rural development, rural credit and promotion of water harvesting was a welcome development. "I am particularly enthused by the proposal to strengthen the movement under the Rajiv Gandhi Water Mission in urban and rural areas and also provide subsidy to water harvesting backed by a legislation," she remarked.

The salaried class has also been provided relief by raising of the income tax exemption limit to Rs. 1 lakh. The increase in plan assistance to Indian Institute of Technology (IITs) is also welcome as it would provide thrust to new innovative projects for improvement in the rural and urban sectors.

Giving 100 per cent marks to the budget, the Chief Minister said some of the proposals would surely help in giving a new direction to the initiatives in various sectors in Delhi. Asked if the echo of the United Progressive Alliance budget would be found in the Delhi Budget, the Chief Minister quipped: "Just wait and see. I am motivated to take the development process and reforms in various sectors further. Also, there is a need to give a new dimension to the second generation reforms in the fight against pollution."

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