UNION Budget 2009-2010 - Highlights

New Delhi: Union finance minister Pranab Mukherjee began presenting the Union budget 2009-10 in the Lok Sabha today. Here are the highlights:

  • Government plans to bring back the economy to the high GDP growth rate of nine per cent at the earliest, Mukherjee said.
  • Growth rate in 2008-09 dipped to 6.7% from the average 9% growth in previous three fiscal years, he said.
  • Mukherjee intends to make pre-budget consultations with state finance ministers an annual affair.
  • Fiscal deficit grew from 2.7% to 6.8% of GDP.
  • Total fiscal stimulus during 2008-09 amounts to Rs1,86,000 crore.
  • Indian Infrastructure Financial Corporation Limited (IIFCL) to evolve financing mechanism for giving increased support to infrastructure projects.
  • Allocations for highways being stepped up by 23%.
  • Indian Infrastructure Finance Company Limited will re-finance commercial bank loans upto 60% in critical projects through public-private partnership to the tune of Rs1,00,000 crore, to raise investment in the sector.
  • Allocation for urban poor for provision for housing and basic amenities to be raised to Rs3,973 crore in the current year.
  • Allocation for Jawaharlal Nehru Urban Renewal Mission increased by 87% to Rs12,887 crore.
  • Central assistance for storm-water drainage project increased to Rs500 crore from Rs200 crore in the interim budget.
  • Target for agriculture credit raised to Rs3,25,000 crore in 2009-10 from Rs2,87,000 crore.
  • Incentives in interest rates to farmers to pay back agriculture loans on time.
  • Additional allocation of Rs1,000 crore for accelerated irrigation project.
  • Export Credit Guarantee scheme extended till March 2010.
  • Allocation for market development assistance scheme enhanced by 148%.
  • Extension of interest subvension scheme extended to March 2010 to cover sectors like handicrafts and handlooms.
  • Extension of stimulus package for print media by another six months beyond June 30 in view of the economic downturn.
  • To return to FRBM target for fiscal discipline at the earliest, says Mukherjee.
  • Subsidy regime for fertilisers to change to nutrient-based rather than price-based.
  • Expert committee to be set up to advise on viable and sustainable pricing system for imported petroleum products.
  • IT returns to be made simpler.
  • Banks and insurance firms to remain in the public sector.
  • Rs100 crore to be given as one-time grant in aid to expand banks in unbanking areas.
  • Aam admi is the focus of all our programmes and schemes, says Mukherjee.
  • Government committed to provide Rs100 a day as wages under NREGA.
  • Work on National Food Security scheme for providing food at cheaper rates to the poor has begun, says FM.
  • An allocation of Rs39,100 crore to be made for NREGA in 2009-10, an increase of 144%.
  • NREGA coverage increased from 3.39 crore households in 2007-08 to 4.74 crore households in 2008-09.
  • Allocation for flagship Bharat Nirman progamme being raised by 45%.
  • For Indira Awas Yojana, allocation to be increased by 63%in 2009-10, to touch Rs8,800 crore.
  • Rs2,000 crore for rural housing fund under National Housing Bank.
  • Rashtriya Mahila Kosh corpus to be raised from Rs100 crore to Rs500 crore.
  • National Mission for Female Literacy with emphasis on minorities, scheduled castes and scheduled tribes to be launched. Fifty per cent of all rural women to be brought into self-help group programmes.
  • Full interest subsidy for students taking courses in approved institutions. Five lakh students to benefit.
  • Modernisation of national exployment exchanges to be carried out.
  • Action initiated to provide social security to unorganised sector workers.
  • Allocation for National Rural Health Mission to be raised by Rs257 crore over and above the outlay in the interim budget.
  • Under National Action Plan on climate change, eight national missions are being launched. For one of the missions, National Ganga Project, the government proposes to increase allocation to Rs562 crore.
  • First Unique Identification Card to citizens to roll out in 12-18 months. I propose provision of Rs120 crore for the project, says Finance Minister.
  • New pension benefits for 12 lakh jawans and junior commissioned officers from July.
  • Allocation for Commonwealth Games increased to Rs3,472 crore from Rs2,112 crore.
  • I propose to allocate Rs500 crore for rehabilitation of internally displaced Tamils in Sri Lanka, says Mukherjee.
  • Rs1,000 crore for rebuilding infrastructure damaged by the recent Cyclone Aila in West Bengal.
  • Total budget expenditure for 2009-10 will be Rs10,28,032 crore, crossing the Rs10 lakh crore mark for the first time since independence.
  • Plan expenditure, for both the Centre and states, to go up by Rs61,000 crore over the interim budget.
  • Fiscal deficit in 2009-10 is proposed at 6.8% of GDP.
  • Defence gets Rs1,41,703 crore for 2009-10, a 34% hike from the 2008-09 budgetary allocation of Rs1,05,600 crore.
  • To further improve the efficiency of tax system, I propose to set up two authorities for advance ruling, says Mukherjee.
  • Effort is to improve tax collection by eliminating distortions in tax system and expanding the base.
  • No change in corporate tax.
  • Personal income tax exemption limit for senior citizens raised by Rs15,000.
  • I propose to raise by Rs10,000 the exemption limit for women on income tax. For all others, Rs10,000 up from Rs1,50,000, says Mukherjee.
  • Ten per cent surcharge on personal income tax removed.
  • Fringe Benefit Tax abolished.
  • Proposal to incentivise business. I propose to start investment-linked tax benefits in areas of agriculture and national grid, says Mukherjee.
  • Minimum Alternate Tax on book profits increased to 15% from 10%.
  • 100% tax deduction for donations to electoral funds to improve transparency in political funding.
  • Income tax incentives on educational loans expanded to cover vocational studies after schooling.
  • Small businesses up to Rs40 lakh turnover exempted from filing advance tax returns.
  • Presumptive Taxation of 8% on businesses of turnover of up to Rs40 lakh.
  • Customs duty of 5% being levied on import of set-top boxes used under Conditional Access System (CAS).
  • Manufacturing growth, which was negative during last year till March this year, appears to be barely turning the corner, says Mukherjee.
  • Customs duty on gold and silver import increased.
  • Customs duty to be reduced on drugs for heart treatment.
  • Proposal to restore optional 4% CENVAT on cotton textiles beyond fibre stage.
  • Excise duty on fibre for cheaper cloth reduced.
  • Excise duty on petrol-driven small trucks reduced to 10%
  • Full exemption from excise duty on branded jewellery
  • Service tax exempted for exporters on select services
  • Service Tax to be extended to lawyers on technical advice

Indian Premier League-2009- Shedule of Matches

IPL 2009 : IPL Fixures , Schedule 2009 will be announced by BCCI . IPL Venues , Teams will be displayed here.
April 18
: RAJASTHAN ROYALS v ROYAL CHALLENGERS BANGALORE (4 pm) at Cape Town; MUMBAI INDIANS v CHENNAI SUPER KINGS (8 pm) at Cape Town
April 19: KOLKATA KNIGHT RIDERS v DECCAN CHARGERS (4 pm) at Cape Town; DELHI DAREDEVILS v KINGS XI PUNJAB (8 pm) at Cape Town.
April 20: ROYAL CHALLENGERS BANGALORE V CHENNAI SUPER KINGS (4 pm) at Port Elizabeth.
April 21: RAJASTHAN ROYALS v MUMBAI INDIANS (4 pm) at Durban; KOLKATA KNIGHT RIDERS v KINGS XI PUNJAB (8 pm) at Durban
April 22: DELHI DAREDEVILS v CHENNAI SUPER KINGS (4 pm) at Durban; ROYAL CHALLENGERS BANGALORE v DECCAN CHARGERS (8 pm) at Cape Town
April 23: KOLKATA KNIGHT RIDERS v RAJASTHAN ROYALS (4 pm) at Port Elizabeth
April 24: KINGS XI PUNJAB v ROYAL CHALLENGERS BANGALORE (4 pm) at Johannesburg
April 25: KOLKATA KNIGHT RIDERS v CHENNAI SUPER KINGS (4 pm) at Cape Town; DECCAN CHARGERS v MUMBAI INDIANS (8 pm) at Durban.
April 26: RAJASTHAN ROYALS v KINGS XI PUNJAB (4 pm) at Cape Town; ROYAL CHALLENGERS BANGALORE v DELHI DAREDEVILS (8 pm) Port Elizabeth
April 27: KOLKATA KNIGHT RIDERS v MUMBAI INDIANS (4 pm) at Cape Town; CHENNAI SUPER KINGS v DECCAN CHARGERS (8 pm) at Durban.
April 28: DELHI DAREDEVILS v RAJASTHAN ROYALS (4 pm) at Pretoria
April 29: MUMBAI INDIANS v KINGS XI PUNJAB (4 pm) at Durban; KOLKATA KNIGHT RIDERS v ROYAL CHALLENGERS BANGALORE (8 pm) at Durban
April 30: DELHI DAREDEVILS v DECCAN CHARGERS (4 pm) at Pretoria; RAJASTHAN ROYALS v CHENNAI SUPER KINGS (8 pm) at Pretoria.
May 1: ROYAL CHALLENGERS BANGALORE v KINGS XI PUNJAB (4 pm) at East London; MUMBAI INDIANS v KOLKATA KNIGHT RIDERS (8 pm) at Durban
May 2: RAJASTHAN ROYALS v DECCAN CHARGERS (4 pm) at Johannesburg; CHENNAI SUPER KINGS v DELHI DAREDEVILS (8 pm) at Port Elizabeth
May 3: MUMBAI INDIANS v ROYAL CHALLENGERS BANGALORE (4 pm) at Durban; KINGS XI PUNJAB v KOLKATA KNIGHT RIDERS (8 pm) at East London
May 4: DECCAN CHARGERS v CHENNAI SUPER KINGS (4 pm) at Port Elizabeth
May 5: DELHI DAREDEVILS v KOLKATA KNIGHT RIDERS (4 pm) at Durban; KINGS XI PUNJAB v RAJASTHAN ROYALS (8 pm) at Durban
May 6: MUMBAI INDIANS v DECCAN CHARGERS (4 pm) at Pretoria
May 7: KINGS XI PUNJAB v CHENNAI SUPER KINGS (4 pm) at Pretoria; ROYAL CHALLENGERS BANGALORE v RAJASTHAN ROYALS (8 pm) at Pretoria
May 8: DELHI DAREDEVILS v MUMBAI INDIANS (4 pm) at East London
May 9: DECCAN CHARGERS v KINGS XI PUNJAB (4 pm) at Bloemfontein; CHENNAI SUPER KINGS v RAJASTHAN ROYALS (8 pm) at Port Elizabeth
May 10: KOLKATA KNIGHT RIDERS v DELHI DAREDEVILS (4 pm) at East London; ROYAL CHALLENGERS BANGALORE v MUMBAI INDIANS (8 pm) at Johannesburg
May 11: DECCAN CHARGERS v RAJASTHAN ROYALS (4 pm) at Bloemfontein May 12: ROYAL CHALLENGERS BANGALORE v KOLKATA KNIGHT RIDERS (4 pm) at Pretoria; KINGS XI PUNJAB v MUMBAI INDIANS (8 pm) at Pretoria.
May 13: DECCAN CHARGERS v DELHI DAREDEVILS (4 pm) at Durban
May 14: MUMBAI INDIANS v RAJASTHAN ROYALS (4 pm) at Durban; CHENNAI SUPER KINGS v ROYAL CHALLENGERS BANGALORE (8 pm) at Durban.
May 15: KINGS XI PUNJAB v DELHI DAREDEVILS (4 pm) at Kimberley
May 16: CHENNAI SUPER KINGS v MUMBAI INDIANS (4 pm) at Johannesburg; DECCAN CHARGERS v KOLKATA KNIGHT RIDERS (8 pm) at Port Elizabeth
May 17: RAJASTHAN ROYALS v DELHI DAREDEVILS (4 pm) at Kimberley; KINGS XI PUNJAB v DECCAN CHARGERS (8 pm) at Johannesburg
May 18: CHENNAI SUPER KINGS v KOLKATA KNIGHT RIDERS (4 pm) at Pretoria
May 19: DELHI DAREDEVILS v ROYAL CHALLENGERS BANGALORE (4 pm) at Johannesburg
May 20: CHENNAI SUPER KINGS v KINGS XI PUNJAB (4 pm) at Durban; RAJASTHAN ROYALS v KOLKATA KNIGHT RIDERS (8 pm) at Durban
May 21: DECCAN CHARGERS v ROYAL CHALLENGERS BANGALORE (4 pm) at Pretoria; MUMBAI INDIANS v DELHI DAREDEVILS (8 pm) at Pretoria
May 22: Semi Final 1 at Pretoria
May 23: Semi Final 2 at Johannesburg
May 24: Final at Johannesburg.

Home Minister Shivraj Patil has submitted his resignation over the attacks in Mumbai

New Delhi: Home Minister Shivraj Patil, under tremendous criticism over a spate of terrorist attacks in the country since last year, resigned today in the wake of the Mumbai terror strikes.

Patil, who had offered to step down at the Congress Working Committee (CWC) meeting last night, sent his resignation to Prime Minister Manmohan Singh this morning, sources said.

The 74-year-old Patil was inducted into the Union Cabinet despite his defeat from Latur in Maharashtra in the 2004 Lok Sabha polls and has been a target of the opposition as also the detractors within the party over his handling of the internal security situation in the country.

Patil had told the CWC meeting that as the Home minister he “takes the responsibility and whatever the CWC decides, I am ready to do”, the sources said.
Patil’s remarks came in the wake of criticism by several leaders, including Union Ministers P Chidambaram, Kamal Nath, Kapil Sibal and H R Bhardwaj, they said.
The refrain of these leaders at the meeting was that a strong action is needed in the wake of the Mumbai terror strikes and accountability has to be ensured at the higher as well as lower levels.

Patil, who has been in public life for over four decades, was brought into the Manmohan Singh Cabinet as he was considered a complete Gandhi loyalist and Sonia Gandhi had turned down repeated demands for his ouster from the government.
Patil was also one of the serious candidates of the Congress for the post of the President last year after the tenure of A P J Abdul Kalam got over. But, the Left parties, which were supporting the government from outside, had put their foot down on such a proposal.

Source: LiveMint.com