Finance Minister Pranab Mukherjee has presented Budget 2009-10 in Parliament. The budget was a big disappointment. Bombay Stock Exchange crashed down today as it was let down by the finance minister. Following are the budget 2009-10 highlights:
Total budget expenditure for 2009-10 will Rs 10,28,032 crore.
50 per cent of rural women in self-help groups
Higher public investment in infrastructure
Defence outlay has gone up
Rs.1,000 crore for Aila rehabilitation programme
Rs.25 crore each for AMU campuses in Murshidabad and Mallapuram
Rs.2,113 crore for IITs and NITs
Commonwealth allocation hiked to Rs 16,300 crore
Government to hike allocation to National Ganga Project to Rs 562 crore
One rank, one pension for ex-servicemen from July 1
Allowances to para-military forces at par with defence forces
Unique Identification ID project to tap private talent
Full interest subsidy for students in approved institutions
Goods and Services Tax to be introduced from April 1, 2010
New tax code to be set up in 45 days
Eliminated surcharge on personal Income tax by ten per cent
Hike in IT exemption of Rs.10,000 (for older people it is Rs.15000)
Commodities Transaction Tax to be scrapped
Small businesses exempt from advance tax
Custom duty on LCD panels halved; Branded jewellery, mobile phone accessories and drugs for heart diseases to become cheaper
Customs duty on bio-diesel reduced
Tax holiday extended for textile units
Customs duty on gold and silver import increased (ANI)
Abolition of Fringe Benefit Tax (FBT)
Aim to create 12 million jobs
JNNURM allocation hiked by 87 per cent
Additional budget allocation to farmers
Rs 2,000 crore for rural housing fund under National Housing Bank
Allocation to Indira Awaas Yojna hiked by 63% to Rs 8,883 cr. Rs 7000 crores for rural electrification scheme.
Rs 31,100 crore allocation for NREGA.
Showing posts with label Budget. Show all posts
Showing posts with label Budget. Show all posts
July 6, 2009
July 4, 2009
Rail Budget (2009-10) Highlights
•No hike in passenger fares and freight charges
•Rs 1,102 crore allocated towards improving passenger amenities
•Rs 50 billion increase in budgetary support in 2009-10
• Freight target for 2009-10 set at 882 million tonnes
•Freight cargo increased 5% in 2008-09
• One doctor to be posted on each long distance train
• Rs.25 monthly pass for unorganised sector employees with income below Rs 1,500 for travel up to 100 km
• New "Yuva" fully air-conditioned train for youth, Yuva fares Rs.299 up to a distance of 1,500 km and Rs 399 up to 2,500 km
• Student concession to be extended to madarssa students
• Student concession of 60 percent on Kolkata Metro
• Introduction of trains for women during peak seasons
12 non-stop trains
• New train information system to be started in Kolkata, Chennai, Delhi
• 50 mobile rail ticket vans to be introduced , ATMs on 200 mid and small-sized stations
•Setting up of a 1,000 MW power plant
• Special recruitment drive for the physically challenged, minorities
• Committee under Sam Pitroda to commercialise railways' optic fibre network
• Private operation of freight terminals to be encouraged
• New factory in West Bengal for making 500 state-of-the-art coaches annually
• "Janta khana" (peoples' food) to be provided at railway stations
• Railways will not be guided by economic viability, but by social commitment
• Seven nursing colleges to provide employment to railway spouses , Medical colleges proposed to be opened through public-private partnership model
• Cold storages and cargo facilities to eliminate wastage of perishables
• 50 world class stations to be developed on public-private partnership model, 309 out of 375 stations will be developed with modern facilities
• 50 stations at tourist, religious places to have integrated facilities
• Infotainment facilities on Rajdhani Express for long distance passengers
• Unreserved ticketing systems to be expanded from 5,000 to 8,000 terminals
• Passengers can buy unreserved tickets at 5,000 post offices
• Air-conditioned double-decker trains for inter-city travel
• SMS updates for wait-listed passengers
• 200 automatic vending machines at key stations for selling tickets
• Discount for press correspondents increased from 30 to 50%
• Discount of 60% on fare if press correspondents travel with spouse
Just before presenting her first railway budget, Mamta Banerjee had said that her budget would focus more on common people. Therefore, true to her character she announced lot of good things. The "tatkal" or instant ticketing scheme, under which people could buy tickets five days before the date of journey, can now do so three days before departure. The service charges under the scheme have been lowered from Rs 150 to Rs 100. Previously, Lalu Prasad had increased the charges as well as increased the number of days for tatkal booking. Moreover, he had also increased the number of tickets under tatkal scheme which resulted in lesser number of tickets under general category.
She has also announced to introduce a monthly pass of Rs.25 per month pass for people falling under on-organized sector having income below Rs.1,500 per month. But, the problem with this scheme is how would any labour show his income? Will they have to show any documents to prove that? The railways will have to ensure that only those people who really need this scheme are benefitted. Corruption is bound to happen.
Most of the other things that she had announced had been announced several times before other railway ministers, but, the problem with the Indian rail is that it takes many years to implement any such schemes. Many schemes never see the light. For the last few years, the railways had been announcing that it would build world class rail stations.
The most promising part of the budget was to announce a special Yuva train and to post a doctor in long distance trains. Overall, the budget was quite impressive.
•Rs 1,102 crore allocated towards improving passenger amenities
•Rs 50 billion increase in budgetary support in 2009-10
• Freight target for 2009-10 set at 882 million tonnes
•Freight cargo increased 5% in 2008-09
• One doctor to be posted on each long distance train
• Rs.25 monthly pass for unorganised sector employees with income below Rs 1,500 for travel up to 100 km
• New "Yuva" fully air-conditioned train for youth, Yuva fares Rs.299 up to a distance of 1,500 km and Rs 399 up to 2,500 km
• Student concession to be extended to madarssa students
• Student concession of 60 percent on Kolkata Metro
• Introduction of trains for women during peak seasons
12 non-stop trains
• New train information system to be started in Kolkata, Chennai, Delhi
• 50 mobile rail ticket vans to be introduced , ATMs on 200 mid and small-sized stations
•Setting up of a 1,000 MW power plant
• Special recruitment drive for the physically challenged, minorities
• Committee under Sam Pitroda to commercialise railways' optic fibre network
• Private operation of freight terminals to be encouraged
• New factory in West Bengal for making 500 state-of-the-art coaches annually
• "Janta khana" (peoples' food) to be provided at railway stations
• Railways will not be guided by economic viability, but by social commitment
• Seven nursing colleges to provide employment to railway spouses , Medical colleges proposed to be opened through public-private partnership model
• Cold storages and cargo facilities to eliminate wastage of perishables
• 50 world class stations to be developed on public-private partnership model, 309 out of 375 stations will be developed with modern facilities
• 50 stations at tourist, religious places to have integrated facilities
• Infotainment facilities on Rajdhani Express for long distance passengers
• Unreserved ticketing systems to be expanded from 5,000 to 8,000 terminals
• Passengers can buy unreserved tickets at 5,000 post offices
• Air-conditioned double-decker trains for inter-city travel
• SMS updates for wait-listed passengers
• 200 automatic vending machines at key stations for selling tickets
• Discount for press correspondents increased from 30 to 50%
• Discount of 60% on fare if press correspondents travel with spouse
Just before presenting her first railway budget, Mamta Banerjee had said that her budget would focus more on common people. Therefore, true to her character she announced lot of good things. The "tatkal" or instant ticketing scheme, under which people could buy tickets five days before the date of journey, can now do so three days before departure. The service charges under the scheme have been lowered from Rs 150 to Rs 100. Previously, Lalu Prasad had increased the charges as well as increased the number of days for tatkal booking. Moreover, he had also increased the number of tickets under tatkal scheme which resulted in lesser number of tickets under general category.
She has also announced to introduce a monthly pass of Rs.25 per month pass for people falling under on-organized sector having income below Rs.1,500 per month. But, the problem with this scheme is how would any labour show his income? Will they have to show any documents to prove that? The railways will have to ensure that only those people who really need this scheme are benefitted. Corruption is bound to happen.
Most of the other things that she had announced had been announced several times before other railway ministers, but, the problem with the Indian rail is that it takes many years to implement any such schemes. Many schemes never see the light. For the last few years, the railways had been announcing that it would build world class rail stations.
The most promising part of the budget was to announce a special Yuva train and to post a doctor in long distance trains. Overall, the budget was quite impressive.
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