India Bugdet 2009-10 Highlight

India Bugdet 2009-10 Highlight

Finance Minister Pranab Mukerjee Submitted 2009-10 Budget on the back drop od huge expectation of huge reform in the recession hit economy and UPA Election Promises.


Here I have captured some of the highlight of the budget.


Life saving Drugs to become cheaper
Customs duty on gold and silver import increased
Customs duty on bio-diesel removed
Full exemption of excise duty on branded jewelry
Tax holiday extended for Textile units
5 percent custom duty levied on set top boxes
Custom duty on LCD panel reduced from 10% to 5 %
Commodity transaction tax will be removed
Allowance for paramilitary will be at par with the defence forces
One lakh dwelling units for paramilitary force will be built
Defense allocation has gone up by 34% compare to previous year
New pension benefis for 12 lakh jawans and JCOs
Rs 2,100 cr allotted for higher pension of Jawans
One rank, one pension for ex servicemen
The Income Tax exemption limit for senior citizens is increased by Rs.15,000,
For women and others by Income tax exemption increased by Rs.10,000 each.
Small businesses exempted from advance tax
Fringe Benefit Tax (FBT) abolished
Tax filing to be simplified in next 4 years
Surcharge of 10 per cent in the Personal income tax removed
No change in Corporate tax
50% of rural womens will be brought under the women self help group.
National mission for female literacy
Allocation for Commonwealth Games increased to Rs 3,073 crores.
New IITs to be set up
Rs 2313 cr allocation for IITs NIITs
Unique Identification ID plan will roll out in 12 to 18 months and will tap private talent
Allotment to nation highway project development hiked by 23 pc
US$ 100 million for rehabilitation of the internally displaced tamils in srilanka
Fiscal deficit at 6.8 pc
Domestic oil prices must be in sync with global prices
Effective interest rate at 6 pc for farmers
500 crore for Mumbai floods management
Steps to ensure the agriculture continues to grows at 4 pc
Interest subsidy for home loan up to 1 lakh


Estimated Budget expenditure for the year 2009-10 is Rs 10, 28,032 crore



He said there are three important 3 Challenges in front of Government:

1. To return to 9 pc growth rate at the earliest
2. Ensure inclusive development. To make sure no section is left out
3. All institutions must provide for the growth to be achieved