Indian Army to help de-mine Sri LankaNEW DELHI - After providing medical services to thousands displaced by war, Indian soldiers will now go to Sri Lanka to help de-mine areas once held by the Tamil Tigers, it was announced Monday. Hike in defence budget misleading: ExpertsNEW DELHI - The 34 percent hike in the defence budget for 2009-10 is driven more by the increased salaries granted to government employees on a pay panel’s recommendations than by the armed forces’ need for capacity building, experts say. PM heads for Italy Tuesday as India finds G8, G5 useful forumsNEW DELHI - With the national budget presented in parliament Monday, Prime Minister Manmohan Singh will be heading for the Italian mountain town of L’Aquila Tuesday to join discussions with leaders of the world’s most powerful and industrialized nations at their annual G-8 summit. The town was devastated by an earthquake just three months ago. Senate to follow House in posting staff salaries, office expenses on WebWASHINGTON — How your senators are spending their multimillion-dollar budgets for staff salaries, travel and office expenses may soon be just a computer mouse click away. Italy’s Berlusconi, mired in sex scandal at home, basks in spotlight as G-8 hostROME — Premier Silvio Berlusconi will bask in his role as host of the Group of Eight summit of industrialized nations — a break from the barrage of attacks from a starlet scandal that has engulfed him at home. Budget evokes mixed reactions among industrialistsNEW DELHI - Following are the reactions of the top industrialists in India to the union budget 2009-10 presented by Finance Minister Pranab Mukherjee in parliament Monday: Budget does not satisfy needs of common man: PatnaikBHUBANESWAR - Orissa Chief minister Naveen Patnaik criticized the union budget presented Monday by Finance Minister Pranab Mukherjee in the Lok Sabha saying that it does not satisfy the needs of the common man. Budget anti-poor and serves Congress’ interests: Raman SinghRAIPUR/NEW DELHI - Chhattisgarh Chief Minister Raman Singh Monday termed the union budget as “anti-poor” and aimed to serve the Congress party’s “political interests”. India’s budget places common man above fiscal responsibility (Commentary)Finance Minister Pranab Mukherjee has pleased the “aam aadmi” (common man) but made the “khaas aadmi” (the elite) unhappy in his 2009-10 budget proposals. Constrained by the global recession and domestic economic strains, he has provided a much awaited further stimulus to the economy by raising plan expenditure by as much as 25 per cent in real terms. Youngistan welcomes ‘aam aadmi’ focus of Indian budgetNEW DELHI/BANGALORE - Students and young professionals Monday hailed Finance Minister Pranab Mukherjee’s ‘aam admi’ focus of the union budget with many rejoicing over tax sops and interest subsidy in education loans. Congress says budget progressive, opposition calls it ‘routine’NEW DELHI - The ruling Congress said Monday the budget presented by Finance Minister Pranab Mukherjee was progressive, but the opposition parties termed it as “routine and inconsequential. Tourism sector gets Rs.1,070 croreNEW DELHI - With a view to giving a fillip to the tourism industry, which is witnessing a downturn due to the global meltdown, Finance Minister Pranab Mukherjee allocated Rs.1,070 crore to the sector in the union budget he presented in parliament Monday. Budget helps Indian economy to return to path of growth says ChidambaramNEW DELHI J - Union Home Minister P. Chidambaram has hailed the union budget, saying it has been prepared with great skill and wisdom and with the objective of stimulating the economy and returning to the high growth path. Fiscal deficit projected at 6.8 percent of GDP in 2009-10NEW DELHI - Union Finance Minister Pranab Mukherjee on Monday said that the fiscal deficit as a percentage of GDP is projected at 6.8 per cent as compared to 2.5 per cent of the Budget Estimates (BE) for 2008-09 and 6.2 per cent as per the provisional accounts of 2008-09. Income of NPS Trust to be exempt from income taxNEW DELHI - Union Finance Minister Pranab Mukherjee in his Budget Speech informed the Lok Sabha on Monday that he proposes to exempt the income of New Pension System (NPS) Trust from the income tax and any dividend paid to this Trust from Dividend Distribution Tax (DDT). Indian Union Budget 2009-10: Roundup
Bengal gains from Mamata-Pranab duetKOLKATA - After being showered with goodies in the railway budget, West Bengal Monday got its share of booty from the union budget in terms of grants for the post-Cyclone Aila reconstruction efforts, setting up of an Aligarh Muslim University Campus and announcement of a handloom cluster. Funds hiked 144 percent for ambitious rural job schemeNEW DELHI - Finance Minister Pranab Mukherjee has allocated a whopping Rs.39,100 crore for the Congress-led government’s flagship scheme under the National Rural Employment Guarantee Act (NREGA), a hefty 144 percent hike over the previous budget estimates. Cycle of rising unemployment, foreclosures and bankruptcies raising economic stressCalifornia, Michigan and South Carolina suffered the most financial pain in May as unemployment, home foreclosures and bankruptcies rose, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties. Pranab Mukherjee takes first step to reform political fundingNEW DELHI J - Union Finance Minister Pranab Mukherjee proposed to allow 100% deduction in the computation of donor, in the donations given to electoral trusts with a view to reform the system of funding of political parties. Mukherjee Neglected Key Issues in Budget for 2009-10: India Inc.
Gross budgetary support for annual plan increased by Rs. 40,000 croreNEW DELHI - Finance Minister Pranab Mukherjee in his budget speech on Monday said that the government has taken a conscious and bold decision to enhance the Gross Budgetary Support (GBS) for the Annual Plan 2009-10 by Rs.40,000 crore over the interim budget for 2009-10. Budget provision for upgrading polytechnicsNEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the provisions for the Scheme ‘Mission in Education through ICT’ has been substantially increased to Rs. 900 crore. Manmohan Singh appreciates admirable job by Pranab MukherjeeNEW DELHI - Prime Minister Dr. Manmohan Singh toady said that Finance Minister Pranab Mukherjee has done an admirable job by reconciling short-term requirements of the economy with medium term goals. Government increases infrastructure fundingNEW DELHI - Infrastructure development continues to be a priority area for the United Progressive Alliance (UPA) government with Finance Minister Pranab Mukherjee increasing public investment in this sector. Service tax revenue to be flat in 2009-10NEW DELHI - India’s service tax revenue is estimated to be flat at Rs.65,000 crore ($13.4 billion) this fiscal, Finance Minister Pranab Mukherjee said Monday while presenting the budget for 2009-10 in the Lok Sabha. Economic woes mean leaner running of the bulls this year in PamplonaPAMPLONA, Spain — Daredevils sprinting with one-ton fighting bulls swallow an exhilarating cocktail of adrenalin and fear. Now, a new brand of jitters has set in at one of the world’s great fiestas as businesses ponder the partypooping impact of economic woe. Budget is positive, realistic, say industrialistsNEW DELHI - The union budget for 2009-10 presented by Finance Minister Pranab Mukherjee Monday is “positive” and “realistic” and both the business community and the common man would benefit from the budgetary proposals, leading industrialists in the country said. Relief, cheer at Panjab University over budgetary grantCHANDIGARH - A wave of cheer and hope went out among faculty and students at Panjab University Monday as the union budget announced a grant of Rs.50 crore (Rs.500 million) for the fund-starved varsity, which is one of India’s oldest. Happy with IGNOU, Pranab allocates Rs.500 mnNEW DELHI - Impressed by its excellence in education and plans for further expansion, Finance Minister Pranab Mukherjee Monday allocated Rs.500 million to the Indira Gandhi National Open University (IGNOU). |
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NEW DELHI - Promising to reinstate India’s high economic growth, Finance Minister Pranab Mukherjee on Monday presented a $204-billion annual budget with more funds for welfare schemes and infrastructure, along with a declared “vision” to reach the fruits of progress to each of the country’s 1.17 billion people.
