Highlights of General Budget 2008-08

February 29th, 2008 - 3:03 pm ICT by admin  


New Delhi, Feb 29 (ANI): Following are the key points of Union Budget 2008-09 tabled by P Chidambaram
Revenue Deficit will be 1.4 per cent Budget Estimate of 1.5 per cent
Planning Commission to evaluate major schemes
Sixth central pay commission to submit report by March
Rs 50 cr grant for Natl Tiger Conservation Authority
Rs 75 cr to ICCR for cultural development
Defence allocation hiked by 10% to Rs 1,05,600 cr
Rs 32,676 crore as subsidy to Public Distribution System (PDS)
Smart-card based PDS system in Haryana, Chandigarh
Allocation of Rs 44 cr to 22 Sainik schools each
Rs 75 cr to Agri Ministry for soil testing labs in 250 districts
Rs 15,000 cr for non-profit body for skilled dev programme
Launch a world-class skilled development programme
Permanent Account Number (PAN) requirement for all securities transactions
Plan to start a forex derivative market
More transparency in the derivative market
Risk Capital Fund to be set up in Small Industries Development Bank of India
(SIDBI)
National Highway Dev programme gets Rs 12,966 cr
Accelerated power development programmes to get Rs 8,000 cr
Ultra mega power project at Tilana shortly
Rs 12,956 Cr for National Highways Development Project
(NHDP)
Banks to be encouraged to embrace total financial inclusion
Foreign investment up to 8 billion dollars expected for oil block exploration
Coal regulator to be set up
17 lakh families of weavers under Health Insurance
State data centres scheme approved and get Rs 275 cr
1 lakh broadband-enabled common service centres in villages
Enhance allocation of NHDP programme
Rs 800 cr for power reforms
Manufacturing growth rate to be taken to double digit
Rural Infrastructure Development Fund ( RIDF) corpus to be hiked to Rs 14,000 cr
Total estimate of loans being waived is Rs 50,000 cr
Implementation of debt waiver scheme to end by June 30
Implementation of debt waiver scheme to end by June 30
Waiver amounts to 4 per cent of total bank loans
Rescheduled farm loans eligible for waiver
Marginal, small farmers to get full waiver on all loans
500 soil testing labs to be set up in the country
Scheme of debt waiver and debt relief for farmers
Allocation for National Rural Health Mission ( NRHM) increased to Rs 12,050 cr
National Horticulture Mission gets Rs 1,100 cr
Weather-based crop insurance scheme to get Rs 50 cr
Rs 20,000 cr for irrigation projects under Accelerated Irrigation Benefits Programme (AIBP)
Special grant of Rs 20 cr to Tea Research Association
Rs 500 cr to be allocated for micro irrigation schemes
More funds for cardamom, coffee growing
Rashtriya Krishi Vikas Yojana to get Rs 2,80,000 cr
53 minor irrigation programmes to be implemented
Target of Rs 2.80 lakh cr for agri-credit in 2008-09
Ministry of Woman and Child Development gets Rs 7,200 cr
24% increase in allocation for child development
Rs 500 cr for development of border areas
Rs 1,042 cr for anti-Polio drive
Jawaharlal Nehru Urban Renewal Mission to get Rs 6,865cr
Growth of agri-credit impressive
Allocation for Integrated Child Development Services increased to Rs 6,300 cr
Minority Affairs Ministry fund doubled to Rs 1,000 cr
288 Public Sector Banks (PSU) bank branches in minority districts
Rs 540 cr for development plan for minority districts
Rs 500 cr for corpus fund to subsidize all women
Life Insurance Corporation of India (LIC) to cover all women Self-help Groups linked to banks
Rs 12,050 cr for strengthening rural health services
Sanitation programmes to get Rs 1200 cr
More minority recruitments in central para-military forces
PSU allocation hiked to Rs 6,300 cr
Rs 300 cr for desalination plant near Chennai
Rs 75 cr for Rajiv Gandhi National Fellowship Programme
National Handicap Development Corp to get Rs 9 cr
National Minorities Development Corp to get Rs 75 cr
Rs 75 cr for Rajiv Gandhi National Fellowship Programme
National Handicap Development Corp to get Rs 9 cr
National Minorities Development Corp to get Rs 75 cr
Allocation for NE schemes up from 14,365 cr to 16,400 cr
Rajiv Gandhi Drinking Water mission allocation hiked
The National Rural Employment Guarantee ( NREG) scheme to be rolled out in 596 districts
National Rural Health Mission allocation hiked by 15%
Remuneration of Anganwadi helpers hiked to Rs 750
Remuneration of Anganwadi workers hiked to Rs 1,500
National Programme for the Elderly to be set up
Rs 30,000 health cover for every worker in unorganised sector
2 schools of Planning and Architecture
Secondary education Scheme Rs 4,554 crore
Rs 100 cr to Ministry of Science and tech for National Knowledge Network

All knowledge bodies to be connected via broadband
Rs 85 crore to building a knowledge society
Scholarships for science and research
Education and Health allocation up 20 per cent

Service Sector to grow at 10.7 per cent
3 IITs in AP, Bihar and Rajasthan
16 central universities to be set up
Mid-day meal scheme extended to upper primary classes
Budgetary allocation for mid-day meal scheme Rs 8,000
16 central universities to set up
Mid-day meal scheme extended to upper primary classes
Budgetary allocation for mid-day meal scheme Rs 8,000

Rs 10 cr for Nehru Kendras in 110 districts

Rs 34,400 cr budgetary allocation for education
Sarva Shiksha Abhiyaan gets Rs 13,100 cr
Bharat Nirman Programme gets allocation of Rs 31,280 cr
410 Vidyalayas in villages

Education, health pillars of social sector reforms

2008-09 will be a year of consolidation

Budget 08-09 about raising our sights, doing better
Capital inflows in excess of economic deficit
Confident of maintaining 8 per cent growth
Impact of global markets on local markets unclear
Govt, Reserve Bank of India to jointly work to check capital inflow
Govt will monitor foreign fund inflow
Impact of global markets on local markets unclear

Govt, RBI to jointly work to check capital inflow
Govt will monitor foreign fund inflow
Check foreign inflow to stabilise Indian markets
Capital Inflow needs to be managed more actively
Agriculture credit doubled in first 2 years of UPA rule
Global markets are weak
Inflation will be checked
Sustained progress thanks to economic reforms
Launched Rashtriya Krishi Vikas Yojna
All time record for food grain output in 2007
Total output of food grains 219.32 mn tonnes
We must be vigilant for downside risk
Crude oil down significantly
Agriculture was disappointing
Capital inflow poses a challenge to monetary management
Capital inflow poses a challenge to monetary management
Growth rate is 8.8 per cent
Service sector is the driver of Budget
Since Aug 2007 financial economies witnessed turmoil
2007-08 has been a challenging year (ANI)

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in National |

Subscribe