Highlights for Interim Budget 09 - 10.

Highlights of the Interim Budget 2009
–> All efforts made to deliver on commitments
–> Sustained growth at over 9 Percent in last 4 years
–> Per capita income grew 7.4 Percent during UPA regime
–> Gross domestic savings rate at 37.7 Percent , gross capital formation at 14.2 Percent
–> Tax–> GDP ratio at 12.5 Percent in 2007–> 08, close to fiscal correction target
–> Domestic investment rate over 39 Percent in FY08
–> Growth drivers –> agriculture, services, manufacturing, construction
–> Outlook for food grain production encouraging for coming year
–> Exports grew at annual average rate of 26.4 Percent during last 4 years
–> December industrial growth fell 2 Percent (YoY)
–> GDP growth of 7.1 Percent makes India the secondfastest growing economy
–> Have taken steps to encourage private investments in infrastructure via PPP
–> Approved 37 infrastructure projects worth Rs 70,000 crore between August 08-January 09
–> 54 central infrastructure projects of Rs 67700 crore sent for final nod to PPP panel
–> Initiative for providing refinance to banks for long term credit to project
–> IIFCL to raise Rs 10000 crore, has approval for an additional Rs 30000 crore
–> IIFCL to refinance 60 Percent of their projects
–> Extension of export credit for labour intensive exports
–> FDI inflow at USD 23.3 billion during April-November 2008
–> Attention given to agriculture sector, plan allocation up 300 Percent in 4 years
–> Government implementing revival agriculture package in 25 states worth Rs 13500 crore
–> Government will continue to provide interest subvention for agriculture in FY10
–> Farm debt waiver of Rs 65,300 crores covering 36 million homes
–> Government to provide interest subsidy to farmers in FY10
–> Outlay on higher education up 900 Percent in 11th 5 year plan
–> Annual ad hoc grants have been increased by 50 Percent (YoY)
–> FY09 revised estimates of spending at Rs 9 lakh crore vs Rs 7.5 lakh crore
–> FY09 plan expenditure revised to Rs 2.8 lakh crore from Rs 2.4 lakh crore
–> Government revises FY09 fertiliser subsidy to Rs 44863 crore
–> FY09 food subsidy revised to Rs 10960 crore
–> FY09 fiscal deficit seen at 6 Percent of GDP versus estimate of 2.5 Percent
–> FY09 revenue deficit at 4.4 Percent of GDP versus estimate of 1 Percent
–> FY10 spending seen at Rs 9.53 lakh crore
–> FY10 budgetary support seen at Rs 2.85 lakh crore
–> Rural jobs scheme to get Rs 30100 crore in FY10
–> JNNURM spending seen at Rs 11842 crore for FY10
–> Allocation of Rs 40900 crore for Bharat Nirman Scheme
–> Interest subvention for some export loans extended
–> Additional plan expenditure has to increase by 0.5–> 1 Percent post polls
–> FY10 non–> plan spend est at Rs 6.68 lakh crore
–> Major subsidy spending for FY10 seen at Rs 95,500 crore
–> FY10 budget revenue deficit seen at 4 Percent , fiscal deficit at 5.5 Percent
–> FY10 gross tax revenue seen at Rs 6.71 lk crore
–> Allocation of Rs 8,000 crore for mid–> day meal scheme
–> Rs 13,100 crore allocated for elementary education
–> FY10 gross market borrowing seen at Rs 3.2–> 3.3 lakh cr
–> No tax changes in interim budget. (Hat)
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