Senior citizens, women, students get tax reliefsNEW DELHI - Tax-paying individuals stand to benefit this fiscal. Finance Minister Pranab Mukherjee has eased their tax burden and provided relief for specific groups of people such as senior citizens, physically handicapped and women. Government to raise Rs.1,120 crore from divestmentNEW DELHI - The government will raise Rs.1,120 crore (Rs.11.2 billion/$224 million) this fiscal from sale of government equity in state-owned units, according to the budget papers Finance Minister Pranab Mukherjee presented in parliament Monday. Employment exchanges to be modernisedNEW DELHI - The government will modernise employment exchanges to enable job seekers to register online from anywhere and approach any employment exchange, Finance Minister Pranab Mukherjee announced Monday. Highlights of union budget for 2009-10 (Fifth Lead)NEW DELHI - Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday: Pranab hopes to green economy, NGO unimpressedNEW DELHI - Finance Minister Pranab Mukherjee Monday cut customs duty on a key wind turbine component and on bio-diesel while presenting his 2009-10 budget proposals, hoping the move would please environmentalists. But an international NGO said he had done nothing to change the direction of India towards a greener economy. Govt accepts recommendation of one-rank-one pension for ex-servicemenNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government has decided to substantially improve the pension of pre 01.01.2006 defence pensioners below officer rank and bring pre 10.10.1997 pensioners on par with post 10.10.1997 pensioners. Funds for minority welfare up by 74 percentNEW DELHI - The budget has increased the outlay for the minority affairs ministry from Rs.1,000 crore last fiscal to Rs.1,740 crore with a focus on educational schemes. Indian stocks slide after government says spending will boost budget deficit to 6.8 pct of GDPMUMBAI, India — Aiming to revive economic growth, India’s government said Monday increased spending in its new budget would inflate the fiscal deficit to 6.8 percent of the country’s gross domestic product. Higher education gets boost, IITs, NITs bag Rs.21 billionNEW DELHI - Continuing its thrust on higher education, the union budget 2009-10 Monday proposed to allocate over Rs.21 billion for the Indian Institutes of Technology (IITs) and the National Institutes of Technology (NITs). PM leaves for G-8 meeting in Italy TuesdayNEW DELHI - With the national budget being presented in parliament Monday, Prime Minister Manmohan Singh will be heading for the Italian mountain town of L’Aquila Tuesday to take part in discussions with leaders of the world’s most powerful and Recovery dependent on global turnaround: MukherjeeNEW DELHI - Finance Minister Pranab Mukherjee Monday said recovery of Indian economy in the current fiscal would be difficult unless there were visible improvements in the global economic scenario. ICDS to be extended to every child under six by March 2012NEW DELHI - Union Finance Minister Pranab Mukherjee while presenting the General Budget in Parliament today announced that the Government is committed to the universalisation of the Integrated Child Development Services (ICDS) Scheme in the country. Takeout financing scheme to be evolved by IIFCLNEW DELHI - The India infrastructure Finance Company Limited (IIFCL) will evolve a ‘takeout financing’ scheme in consultation with banks to facilitate incremental landing to infrastructure sector. Additional sum of Rs. 430 crore to modernise police machinery in statesNEW DELHI - For modernization of police force in the States, Finance Minister Pranab Mukherjee has proposed an additional amount of Rs. 430 crore over and above the provision in the Interim Budget. High GDP growth, inclusive development to be key challenges: Finance MinisterNEW DELHI - Presenting the General Budget 2009-10 in Lok Sabha today, Finance Minister Pranab Mukherjee said that the Government has clearly recognized and identified the challenges to boost Indian economy specially at a time when the world is still struggling with an unprecedented financial crisis and an economic slowdown. All BPL families proposed to be brought under Rashtriya Swasthya Bima YojanaNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government proposes to bring all BPL families under the Rashtriya Swasthya Bima Yojana (RSBY). No prior approval for expansion off-site ATMsNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that a sub-committee of State level Bankers Committee (SLBC) would identify and formulate an action plan for providing banking facilities in under-banked/unbanked areas in the next three years. In agriculture, credit flow of Rs. 3,25,000 crore targeted for 2009-10NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the target for the agriculture credit flow for the year 2009-10 is being set at Rs. 3,25,000 crore. Expert group to advice on petroleum, diesel pricesNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government will set up an expert group to advice on a viable and sustainable system of pricing petroleum products. New project to enable job seekers to register on-line from anywhere to be launchedNEW DELHI - A new project for the modernization of the employment exchanges is to be launched in Public Private Partnership. Unique identity number to be rolled out in 12 to 18 monthsNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Unique Identification Authority of India (UIDAI) will establish an online database with identity and biometric details of Indian residence and provide enrolment and verification services across the country. India’s defence budget stays at Rs.141,703 crore (Second Lead)NEW DELHI - India’s defence expenditure during 2009-10 remains unchanged from Rs.141,703 crore ($28 billion) allocated in the interim budget earlier this year - which was a hike of 34 percent over the previous year. Sensex down 770 points as budget disappoints (Second Lead)MUMBAI - Investors in Indian equity markets were disappointed with the 2009-10 budget, resulting in a key index plummeting by more than 700 points even as Finance Minister Pranab Mukherjee was presenting the document. Funds for minority affairs up by 74 percentNEW DELHI - Funds for the ministry of minority affairs has been hiked from Rs.1,000 crore to Rs.1,740 crore to implement projects for the welfare of the minorities, Finance Minister Pranab Mukherjee announced Monday. Farmers’s debt relief scheme extendedNEW DELHI - The government has extended the debt relief scheme for farmers from June 30 to the end of the year, Finance Minister Pranab Mukherjee announced Monday. Budget disappointing, says tax expertMUMBAI - The budget has proved to be a letdown for the corporate sector and has not been very encouraging in view of the current economic scenario, according to noted city-based corporate tax consultant J.P. Purohit. Soldiers, JCOs pension upped; officers ignoredNEW DELHI - The Indian government Monday partially met the “one-rank-one-pension” (OROP) demand of the armed forces, announcing enhanced pensions for soldiers and junior commissioned officers (JCOs) that will entail additional expenditure of Rs.2,100 crores per year. Increased allocations growth-oriented, says industry bodyMUMBAI - The All India Association of Industries (AIAI) has welcomed the hikes in allocations for infrastructure, agriculture and small and medium enterprises (SMEs) for exports in the fiscal 2009-10 budget announced Monday, and termed the move as growth-oriented”. Debate hours shrinking with every budgetNEW DELHI - Parliamentarians seem to be turning increasingly apathetic to the general budget, which touches upon the lives of a large number of people, if the number of hours they spent on debating its proposal is any indication. Tax sops, more funds for welfare, infrastructure in India’s budgetNEW DELHI - Promising to halve poverty by 2014 and add 12 million jobs each year, Finance Minister Pranab Mukherjee presented India’s budget for this fiscal that hikes income tax exemption limit and steps up allocations for welfare schemes and infrastructure, while assuring high growth for the $1.2 trillion economy once again. |
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