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Budget highlights
PTI | New Delhi
Following are the highlights of the Budget speech for 2010-11 by Finance Minister Pranab Mukherjee in Lok Sabha on Friday.
India weathered economic crisis well
Need to review stimulus imparted to econony
Need to review public spending and mobilise resources
High food inflation due to bad monsoon & drought conditions
Steps being taken to tackle price rise
Economy in far better position than it was eight years ago
First challenge is to quickly revert to 9% high GDP growth
Second to make growth more inclusive and consolidate gains
Impressive recovery in past few months
Economy stabilised in Q1 of 2009 itself
18.5% manufacturing growth in Dec highest in two decades
Faster recovery seen in the coming months
Figures for merchandise exports for January encouraging
Food security strengthened
Govt's focus on services to economically backward sections
Hope to implement Direct Tax Code from April 2011
Status paper on public debt within six months
Endeavour to implement General Sales Tax in April 2011
Govt will raise Rs 25,000 cr from disinvestment in PSUs
Market cap of five PSUs listed since October up 3.5 times
Fuel price deregulation proposal will be taken up
Nutrient-based fertiliser subsidy from April 1, 2010
FDI inflows steady; Govt simplifying FDI regime
To set up Financial Stability and Development Council
RBI mulling additional banking licenses to pvt
NBFC will be considered if they meet criteria
2% interest subvention on handicraft exports for 1 more yr
Rs 200 crore for climate resilient agriculture initiative
Committed to growth of Special Economic Zones
Need for firm view on opening up retail sector
Farm loan repayment eased by 6 months till June 30, 2010
Crop loan interest subsidy for timely payment raised to 2%
Propose to maintain thrust of rural, urban infra upgrade
IIFCL authorised to refinance infrastructure projects
Rs 1,73,552 cr provided for infrastructure development
Railways allocation hiked Rs 950 cr to Rs 16,752 crore
Govt proposes to set Coal Development Regulatory Authority
Mega power plant policy modified to lower generation cost
Allocation to power sector more than doubled to Rs 5,130 cr
Govt for competitive bid for coal blocks for captive power
Rs 500 crore for solar and hydro projects in Ladakh region
New Clean Energy Fund for research in new energy sources
Renewable Energy Ministry allocation up 61% to Rs 1000 cr
Rs 200 cr one-time grant to Tirupur textile cluster in TN
Outlay for Ganga River Basin Authority doubled to Rs 500 cr
Alternative port at Sagar Island in West Bengal
Draft of Food Security Bill ready; in public domain soon
Outlay for social sectors pegged at Rs 1,37,674 crore
Social sector outlay 37 per cent of total plan allocation
Plan allocation for school education Rs 31,036 cr
Allocation for health and family welfare Rs 22,300 cr
For rural development Rs 66,100 cr allocated
Indira Awas Yojana unit cost raised to Rs 45,000 in plains & Rs 48,500 in hilly areas.
Allocation for urban development raised 75% to Rs 5,400 cr
1% loan interest subsdiy for houses upto Rs 20 lakh
Outlay for micro & small scale sector raised to Rs 2,400 cr
Rs 1,270 crore for slum development programme, up 700%
National Social Security Fund with Rs 1000 cr outlay
Allocation for women and child development hiked 80%
Rs 1,000/yr to a/c holders under New Pension Scheme
Outlay for Minority Affairs Min raised to Rs 2,600 cr
Rs 1,900 cr for Unique Identification Authority of India
Unique identity symbol for Indian Rupee like US Dollar etc.
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