Budget updates 1st hour

Posted on    29 February 2008

P. Chidambaran presents his 7th Union budget and puts down the following points:

GDP at present- 8.8%

Concern throughout- Inflation in Cheack is the cornerstone of the policy .

Capital Inflow needs to be managed

Govt, RBI to jointly take temporary steps to manage capital inflows

capital inflows in excess of Economic Deficit.

Gross Budgetary Support F/y-09 Rs.2.4 Lakh crores

Education,health allocation up by 20%

Iits to be set up in bihar,andhra pradesh and rajasthan

Health outlay up by 15%

3 Iisc to be set up in bhopal and trivandrum

Education 34,400 crore

Bharat nirman 31,281 crores

Sarva siksha 13,100 crores

Mid day meal 8,000 crores

Rajeev gandhi drinking water mission-7,300 crores

NREGS to be extended to all districts-16,000 crores

Health outlay up by 15%

16 central universities to be set up

National rural health mission allocation up by 15%

Allocation of 100 crores to it ministry

ICDS allocation hiked to 6,300 crores

2 national institutes for ageing

MInority outlay doubled

Gross budegetary support up by 38,000 crores

RS 540 crores for minority dominated districts

288 PSU branches to be set up in backward areas

RS 11,460 crores for women development schemes

Rs 500 crores for development of border areas

Urban renewal allocation plan up by 25%

Agri cultural credit target at 2,80,000 crores

750 irrigation in fy09 and 20 major projects

20 crores to tea research industry

north-east to get 15% more funds

Irrigation outlay up by 80%

For marginal farmers that is holding up to 1 hectare and small farmers upto 2 hectares complete loan waiver.

One time settlement scheme for all other farmers

Waiver amounts to rs. 50,000/- crore

Agricultural loans restructured earlier will also be legible for complete waiver or relief as the case may be.
Planned Additional Rs.10,000/- Crore Capital expenditure.

Loan waiver amounts to 4% of the bank loans.

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