Union Budget 2009-10 Major Highlights

  • ·        Excise duty on fibre for cheaper cloth reduced
  • ·        Service tax to be levied on law firms
  • ·        Excise duty on petrol-driven small trucks reduced to 10%
  • ·        Exemption of duty on goods made at construction sites restored
  • ·        Drugs for heart diseases to become cheaper
  • ·        Customs duty on gold and silver import increased
  • ·        Mobile phone accessories to become cheaper
  • ·        Branded jewellery for women to become cheaper
  • ·        Customs duty on bio-diesel reduced
  • ·        Tax holiday extended for textile units
  • ·        Small businesses exempt from advance tax
  • ·        Custom duty on LCD panels halved
  • ·        Set-top boxes to cost more
  • ·        Anonymous funds to charitable bodies to get some tax relief
  • ·        Commodities Transaction Tax to be scrapped
  • ·        MAT hiked to 15% of book profit
  • ·        Fringe Benefit Tax to be scrapped
  • ·        Surcharge on personal Income tax slashed by 10%
  • ·        Hike in IT exemption for women to Rs 1,90,000
  • ·        Hike in IT exemption to Rs 2,40,000 for senior citizens
  • ·        General Sales Tax model will have a Central GST and State GST
  • ·        GST to come into effect from April 01, 2010
  • ·        Corporate tax unchanged
  • ·        New tax code to be set up in 45 days
  • ·        New tax code to be set up in 45 days
  • ·        Goods and Services Tax to be introduced from April 1, 2010
  • ·        Govt committed to tax reforms
  • ·        Total budget expenditure for 2009-10 will Rs 10,28,032 cr
  • ·        Plan expenditure, for both Centre and States, to go up by Rs 61,000 cr
  • ·        Fiscal deficit in 2009-10 is proposed at 6.8 per cent of GDP
  • ·        Higher public investment in infrastructure
  • ·        Defence outlay has gone up
  • ·        Rs 1,000 cr for Aila rehabilitation to West Bengal
  • ·        Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
  • ·        Rs 2,113 cr for IITs and NITs
  • ·        Funds for GSI to enhance exploration of minerals
  • ·        New pension benefits for 12 lakh jawans and JCOs
  • ·        Pension of non-commissioned officers to be hiked
  • ·        Allocation for rehab of Lankan Tamils
  • ·        One lakh dwelling units for paramilitary forces to be built
  • ·        Commonwealth allocation hiked to Rs 3472 crore
  • ·        Allocation of Rs 50 cr to Chandigarh University
  • ·        Govt to hike allocation to National Ganga Project to Rs 562 cr
  • ·        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 roll out in 12-18 months
  • ·        Unique Identification ID project to tap private talent
  • ·        Allocation for NRHM to be raised by Rs 257 cr
  • ·        National action plan on climate change
  • ·        Full interest subsidy for students in approved institutions
  • ·        Modernisation of national employment exchanges
  • ·        50% cent of rural women in self-help groups
  • ·        Rural mega clusters in Bengal and Rajasthan
  • ·        Interest subsidy for home loans up to Rs 1 lakh
  • ·        Interest subsidy on education loans
  • ·        Rashtriya Mahila Kosh corpus to be raised to Rs 500 crore
  • ·        Rs 2,000 cr for rural housing fund under National Housing Bank
  • ·        National Mission for female literacy
  • ·        NREGA allocation up 144%
  • ·        Work on National Food Security scheme for subsidised food
  • ·        Rs 100 cr one-time grant to expand banks in unbanking areas
  • ·        Indira Awaas Yojna hiked by 63% to Rs 8,883 cr
  • ·        Allocation for PM Gram Sadak Yojna up by 59 per cent
  • ·        Rs 39,100 crore allocation for NREGA
  • ·        Allocation for PM Gram Sadak Yojna up by 59 per cent
  • ·        Rs 39,100 crore allocation for NREGA
  • ·        NREGA gave employment opportunities to more than 4.47 cr households
  • ·        Aam Aadmi is the focus of all UPA’s schemes
  • ·        Govt to shift to nutrient based fertiliser subsidy regime
  • ·        Banking network to be expanded
  • ·        One banking centre in every bloc
  • ·        Banks, insurance to stay with Govt
  • ·        Raise threshold for non-promoter public listed companies
  • ·        FM recalls Indira Gandhi’s bank nationalization
  • ·        Move towards energy security via Integrated Energy Act
  • ·        Saral-II forms to simplify taxation process
  • ·        An expert panel will look into petroleum product pricing
  • ·        Domestic oil prices must be in sync with global prices
  • ·        Fertiliser subsidy to go directly to farmers
  • ·        Export Credit Guarantee scheme extended till March 2010
  • ·        Pranab Mukherjee quotes Kautilya in Budget speech
  • ·        Incentives in interest rates to farmers to pay back
  • ·        Print media stimulus package extended by six months
  • ·        Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10
  • ·        FIIs have returned to India in last few months
  • ·        Storm-water drainage project fund hiked to Rs 500 cr
  • ·        Blueprint for national gas grid
  • ·        Additional budget allocation to farmers
  • ·        Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%
  • ·        Total fiscal stimulus during ’08-09 is Rs 1,86,000 cr
  • ·        Hike in allocation for Mumbai flood management
  • ·        Housing allocation hiked under Rajiv Awaas Yojana
  • ·        Fund allocation for urban poor accommodation is 3,973,000 cr
  • ·        JNNURM allocation hiked by 87 per cent
  • ·        NHAI allocation up by 23 per cent
  • ·        Hike infrastructure investment to over 9% of GDP by 2014
  • ·        IIFCL will refinance 60% of commercial bank loans in PPP
  • ·        IIFCL will look at new projects
  • ·        IIFCL will also look at incremental lending by banks
  • ·        New company IIFCL to look at infrastructure needs
  • ·        Two worst quarters since September slowdown behind us
  • ·        Signs of revival in the domestic industry
  • ·        Fiscal stimulus gave economy a boost
  • ·        Govt took 3 stimulus packages to fight slowdown
  • ·        Govt took 3 stimulus packages to fight slowdown
  • ·        Economic growth is a synergy of states and Centre
  • ·        Integration of Indian economy with rest of the world
  • ·        Significant hike in foreign capital
  • ·        Trade in goods and services doubled in 2008
  • ·        Indian economy changed in the past decade
  • ·        Challenge before UPA to return to 9% growth
  • ·        Re-energise government and reinstitutionalise development
  • ·        One Budget can’t solve all issues
  • ·        Improve rule of law for all citizens
  • ·        Mandate for inclusive growth
  • ·        Strengthen the delivery mechanism for healthcare
  • ·        Increase investment in infrastructure
  • ·        I am deeply aware of the youth’s challenges
  • ·        I am conscious of people’s faith in UPA
  • ·        FM Pranab Mukherjee begins his Budget speech

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