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Highlights of union budget for 2009-10
New Delhi (PTI): Following are the highlights of Budget 2009-10.
* Govt plans to bring back economy to high growth of 9 per cent * GDP growth dipped to 6.7 per cent in FY'09 * FM to make pre-budget talks with state FMs annual affair * Fiscal deficit up from 2.7 per cent to 6.8 per cent of GDP * Return to fiscal prudence at the earliest * 'Aam admi' is focus of all programmes and schemes * IT exemption limit raised; Rs 15,000 (rpt) 15,000 for Sr.citizens * Limit raised by Rs 10,000 for tax payers, including women * 10 per cent surcharge on personal income tax scrapped * Fringe Benefit Tax abolished * No change in corporate tax * Defence gets Rs 1,41,703 cr, up 34 per cent * Total fiscal stimulus in 2008-09 amounts to Rs 1,86,000 cr * IIFCL to evolve mechanism for increased funding of infra * IIFCL to re-finance commercial bank loans up to 60 per cent in critical projects through PPP to tune of Rs 1,00,000 cr * Allocations for highways being stepped up by 23 per cent * Funds for housing, amenities for urban poor up Rs 3,973 cr * Funds for JN Urban Renewal Mission up 87 per cent to Rs 12,887 cr * Assistance for storm-water drainage project up by Rs 300 cr * Farm credit target up at Rs 3,25,000 cr from Rs 2,87,000 cr * Interest rates incentive to farmers to repay loans on time * Additional Rs 1,000 crore for accelerated irrigation scheme * Export Credit Guarantee scheme extended till March 2010 * 2 per cent 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 * Fertiliser subsidy to be nutrient-based, not price * Expert Grp to form viable pricing for imported petro goods * Banks and insurance firms to remain in public sector * Rs 100 cr one-time grant to expand banks in unbanked areas * Govt committed to provide Rs 100 a day as wages under NREGA * Allocation of Rs 39,100 cr to be made for NREGA * NREGA coverage increased to 4.74 crore households in FY'09 * Work National Food Security scheme has begun * Allocation for Bharat Nirman being raised by 45 per cent * Rs 2,000 cr rural housing fund under National Housing Bank * Mission for female literacy with focus on minorities, SC/ST * 50% of all rural women to be brought into SHG programmes * Full interest subsidy for students in select institutions * Five lakh students to benefit * Modernisation of national exployment exchanges * Action for social security to unorganised sector workers * New pension benefits for 12 lakh jawans and JCOs from July * One lakh dwelling units for paramilitary forces personnel * Unique Identification Card to citizens in 12-18 months * Provision of Rs 120 crore for UIC project * Rs 2,113 crore allocated for IITs and new IITs * Rs 3472 cr for Commonwealth Games from Rs 2112 cr
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