Highlights of union budget for 2009-10 (Fifth Lead)

Highlights of the union budget for the current fiscal presented by Finance Minister Pranab Mukherjee in the Lok Sabha Monday:

- Fiscal deficit estimated at 6.8 percent of GDP

- National Housing Bank to get Rs.2,000 crore for rural housing funds

- Higher education outlay increased by Rs.2,000 crore over interim budget

- Geological Survey of India, Botanical and Zoological Survey of India to get Rs.15 crore each.

- National River programmes to get Rs.562 crore, up from Rs.335 crore earlier

- Rs.1,000 crore for reconstruction activities in the Aila-hit areas in West Bengal

- An additional amount of Rs.430 crore allocated to modernise police machinery in states

- Rs.190 crore budgetary support for civil aviation

- One handloom mega cluster each will be set up in West bengal and Tamil Nadu

- One powerloom mega cluster in Rajasthan

- At least 50 percent of the total rural women to be brought under the self-help group (SHG) network

- Banking network to be expanded to "unbankable" areas

-Expert group to be set up to advice on petroleum and diesel prices

- No change in corporate tax rate

-Centralised processing centre at Bangalore to streamline taxation

- Income tax exemption limit for senior citizens increased by Rs.15,000, for women and others by 10,000 each

- New indirect tax will be introduced in 45 days

- Fringe benefit tax abolished

- Duties on life saving drugs reduced

- Excise duty on petrol-driven trucks reduced

- Goods and services tax (GST) will be introduced April 1, 2010

- An alternative dispute settlement mechanism to be set up to settle tax disputes

- Lawyers brought under the ambit of service tax

- Tax exemption on profits in the natural gas sector extended

- Customs duty on LCD TVs reduced to 5 percent from 10 percent

- Five percent customs tax imposed on set-top boxes

- Rs.500 crore for the rehabilitation of displaced Sri Lankan Tamils and reconstruction activities in that country

- Aligarh Muslim University off-campus centres to be set up in Murshidabad in West Bengal and Malappuram in Kerala

- Allocation for the minority affairs ministry raised to Rs.1,740 crore

- Plan expenditure up 34 percent, non-plan spend up 37 percent

- Total spending increased to Rs.10.2 lakh crore

- Rs.420 crore for new IITs and NITs

- Commonwealth Games allocated Rs.3,472 crore

- National unique identification numbers to start rolling out in 12-18 months

- Paramilitary forces such as CRPF to get 100,000 homes

- Banking services in under-banked areas to be increased, scheme allocated Rs.100 crore

- Agriculture debt waiver extended by six months

- Outlay for national rural health mission increased by Rs.2,057 crore from the Rs.12,070 crore provided in the interim budget

- Allocation towards National Rural Employment Guarantee Act increased by Rs.39,100 crore

- Allocation for Bharat Nirman scheme increased by 45 percent

- Rs.20,000 crore for rural housing

- Rural electrification scheme to get Rs.7,000 crore more

- Tax department to work on early introduction of Saral 2 forms

- Stimulus for print media extended from June 13 to Dec 31

- Rs.1,000 crore to accelerate irrigation projects

- Agriculture development fund increased from Rs.2.87 lakh crore to Rs.3.25 lakh crore

- Market development assistance scheme for exporters increased by 148 percent to Rs.124 crore

- Pre-shipment interest subvention set at 2 percent for textile exporters

- Sufficient funds for infrastructure development

- Allocation for national highways development stepped up by 23 percent

- Allocation for urban poor schemes to be raised to Rs.39,730 crore

- LNG infrastructure to be expanded

- Allocation for Jawaharlal Nehru Urban Renewal Mission raised by 87 percent to Rs.12,887 crore

Last updated on Jul 6^th, 2009 at 15:43 pm IST--IANS