What are the Highlights of Union Budget 2010-11 ?
Following the highlights of the budget 2010 - 11----:-
Crop loan at 5% interest for farmers
Govt extends interest subvention scheme for home loans
Sops for exporters extended for another year
The total expenditure proposed in the budget estimates is rs.11,08,749 crore , an increase of 8.6 per cent over last year.
The plan and non-plan expenditure estimated at rs.3,73,092 crore and rs.7,35,657 crore respectively, an increase of 15 percent in plan expenditure and 6 per cent in non-plan expenditure over the be of previous year.
Fiscal deficit at 5.5 per cent of GDP works out to be Rs. 3,81,408 crore.
Rolling targets for fiscal deficit pegged at 4.8 per cent and 4.1 per cent for 2011-12 and 2012-13.
Net market borrowing would be of the order of rs. 3,45,010 crore leaving enough space to meet credit needs of private sector.
Against a fiscal deficit of 7.8 per cent in 2008-09 , inclusive of oil and fertilizer bonds, the comparable fiscal deficit is 6. ...more
While addressing a SIDBI (Small Industries Development Bank of India) in New Delhi, he said, "I am optimistic that the measures I have outlined in this year's budget will revive private investment and put the economy back on the growth path of 9 percent. The economy in 2009-10 would grow by 7.2 percent, which is impressive by global standards, while the growth during the 2010-11 will be between 8.25-8.75 percent."
Manmohan Singh, Prime Minister also declared that the Indian economy would see a growth of 9 percent till 2011-12 and after that in the 12th Five Year Plan it will go up to 10 percent. Mukherjee also reported that the direct tax collection for 2009-10 fiscal was far more than it was expected.
Till 2007-08, India saw an economic growth of 9% percent and after that in 2008-09 the econo ...more