Sucheta Dalal

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July 6, 2009


* Govt plans to bring back economy to high growth of 9%


* GDP growth dipped to 6.7% in FY'09


* FM to make pre-budget talks with state FMs annual affair


* Fiscal deficit up from 2.7% to 6.8% of GDP


* Return to fiscal prudence at the earliest


* 'Aam admi' is focus of all programmes and schemes


* IT exemption limit raised; Rs15,000 for senior citizens


* Limit raised by Rs10,000 for tax payers, including women


* 10% surcharge on personal income tax scrapped


* Fringe Benefit Tax abolished


* No change in corporate tax


* Defence gets Rs1.4 trillion, up 34%


* Total fiscal stimulus in 2008-09 amounts to Rs 1.9 trillion


* IIFCL to evolve mechanism for increased funding of infra


* IIFCL to re-finance commercial bank loans up to 60% in critical projects through PPP to tune of Rs1 trillion


* Allocations for highways being stepped up by 23%


* Funds for housing, amenities for urban poor up Rs39.7 billion


* Funds for JN Urban Renewal Mission up 87% to Rs128.9 billion


* Assistance for storm-water drainage project up by Rs3 billion


* Farm credit target up at Rs3.3 trillion from Rs2.9 trillion


* Interest rates incentive to farmers to repay loans on time


* Additional Rs10 billion for accelerated irrigation scheme


* Export Credit Guarantee scheme extended till March 2010


* 2% interest subvention (IS) scheme extended till March 2010


* IS scheme to cover 7 job-oriented sectors, including textile, handicrafts and handlooms.


* Commodity Transaction Tax abolished


* New pension system trust exempted from STT DDT


* Minimum Alternate Tax hiked to 15% from 10%


* Tax holiday on petro sector extended to natural gas


* 100% tax deduction on political donation


* Stimulus for print media for another six months


* Fertilizer subsidy to be nutrient-based, not price


* Expert Group to form viable pricing for imported petro goods


* Banks and insurance firms to remain in public sector


* Rs1 billion one-time grant to expand banks in unbanked areas


* Govt committed to provide Rs100 a day as wages under NREGA


* Allocation of Rs391 billion to be made for NREGA, NREGA coverage increased to 4.

-- Sucheta Dalal