Re: PM’s Statement on Budget to the Media

On Mon, Jul 6, 2009 at 4:11 PM, PIB Calcutta <pibcalcutta1@yahoo.com> wrote:

Press Information Bureau

Government of India

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PM's Statement on Budget to the Media

 

New Delhi : July 6, 2009

 

Following is the statement of the Prime Minister, Dr. Manmohan Singh, to the media on the Budget:

 

"The Finance Minister has done a commendable job in reconciling the short term requirements of our economy, to provide a stimulus to the growth process and simultaneously to ensure that we recapture the rhythm of the growth process despite the recessionary tendencies in the world economy. He has therefore chosen a strategy to concentrate on increasing investments in the infrastructure sector both in the public sector and in the private sector through PPP route. Simultaneously he has taken care that we spend lot more money in putting in place social safety nets, in increasing our investment outlays in rural development, agriculture, in healthcare services, in urban renewal missions. Overall the strategy of the budget is to ensure that our economy recaptures the rhythm of the accelerated growth process. Simultaneously it seeks to honour in large measure, the commitments that we have made to our people to work steadfastly for the well being of the aam aadmi."

 

Question on 7 % growth rate.

 

"Well, we are working towards that goal and it is achievable. 7% growth rate this year is an achievable growth target but it is not good enough for the medium term, we must move to a growth path of 8 to 9%."

 

Question on increased outlay for NREGA.

 

"It is very significant. It is a measure of our commitment to the well being of the poorer sections of our community."

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AKT/AD/SH/LV/VK/CS/RK /spandey/General Budget 09-10-B

 

 

 

 

 

   

 

 

 

 

 

 

  Press Information Bureau

Government of India

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Budget will give boost to economy, says Chidambaram

 

New Delhi : July 6, 2009

 

The Union Home Minister, Shri P. Chidambaram has hailed the Union Budget, presented by the Finance Minister in Parliament today. The following is the text of his statement.

 

"The Budget for 2009-10 has been prepared with great skill and wisdom with the objective of stimulating the economy and returning to the high growth path. The total size of the three stimulus packages provided in 2008-09 is estimated at Rs.1,86,000 crore. The biggest stimulus in the Budget for 2009-10 is the Plan Expenditure of Rs.3,25,149 crore and the Gross Budgetary Support of Rs.2,39,840 crore for the Central Plan. It is hoped that this, together with other measures announced by the Finance Minister, will give a boost to the economy.

 

The big take-aways from the Budget speech are:

 

• Primacy accorded to infrastructure including Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Accelerated Power Development and Reform Programme (APDRP), National Highways Development Programme (NHDP), Railways, Accelerated Irrigation Benefit Programme (AIBP) and new means of financing by India Infrastructure Finance Company Limited (IIFCL).

 

• Reaffirmation of fiscal responsibility and fiscal prudence and the promise to return to the Fiscal Responsibility and Budget Management (FRBM) targets as early as possible.

 

• Rs.39,100 crore for National Rural Employment Guarantee Scheme(NREGS), Rs.12,000 crore for Pradhan Mantri Gram Sadak Yojana (PMGSY) and Rs.8,800 crore for Indira Awas Yojana (IAY), all time tested and successful programmes to promote inclusive growth.

 

• Expansion of agricultural credit with a target of Rs.3,25,000 crore, a two per cent interest subvention and an additional one per cent back-ended subvention to farmers who repay their loans on schedule.

 

• Introduction of the draft Direct Taxes Code together with a discussion paper within 45 days.

 

• Reaffirmation of the intent to introduce GST with effect from April 1, 2010.

 

• Maintaining stability in tax rates for personal income tax and corporate tax.

 

The Budget speech contains a number of innovative ideas including:

 

• Switching over to nutrient-based fertilizer subsidy and moving towards a system where the subsidy is paid directly to the farmer

 

• Introducing the National Food Security Act

 

• Prime Minister's Adarsh Gram Yojna for villages with a majority population of SC/ST

 

• Interest subsidy for educational loans taken by students belonging to economically weaker sections

 

• 100,000 houses for Central Para-Military Force personnel through innovative financing

 

• Expansion of the New Pension System (NPS) through fiscal support, including tax exemptions, to the NPS Trust

 

• Increasing the non-promoter public shareholding in all listed companies, both in the public and private sectors

 

I am confident that the Budget will be appreciated by all sections of the people. I congratulate the Finance Minister Shri Pranab Mukherjee."

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OK/KKA /spandey/General Budget 09-10-B

 

 

 

 

 

Press Information Bureau

Government of India

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Budget Highlights- Rural Development

 

New Delhi : July 6, 2009

 

• Bharat Nirman Aam  Aadmi is the focus of all UPA's schemes

 

• Mandate for inclusive growth

 

• National Rural Employment Guarantee Act (NREGA) Allocation hiked by 144% to Rs.39,100 crore

 

• NREGA  provided employment opportunities to more than 4.479 crore households in 2008-09

 

• Rs. 100 per day as entitlement under NREGA

 

• Pilot Project to be taken up in 115 districts by converging NREGA with other schemes

 

• allocation hiked by  45%

 

• Indira Awaas Yojna allocation up by 63% to Rs 8,883 crore

 

• Rs 2,000 crore for rural housing fund under National Housing Bank

 

• Rs 100 crore one-time grant to expand banks in unbanking areas

 

• PM Gram Sadak Yojna  hiked up by 59 per cent to Rs.12,000crore.

 

• PM Grameen Adarsh Yojna on pilot basis in 100 villages with SC/ST population.

 

• Swarna Jayanti Swarozgar Yojna (SGSY) now as  National Rural Livelihood Mission (NRLM) to make it universal, more focussed and time bound for poverty alleviation by 2014

 

• Target to enrol 50% cent of rural women in self-help groups over the next five years

 

• Rural mega clusters in Bengal and Rajasthan

 

• Incentives in interest rates to farmers to pay back

 

• Interest subsidy for home loans up to Rs 1 lakh

 

• Work on National Food Security scheme for subsidised food

 

• Govt to shift to nutrient based fertiliser subsidy regime

 

• Fertiliser subsidy to go directly to farmers

 

• Incentives in interest rates to farmers to pay back

 

• Target for agriculture credit raised to Rs 3,25,000 cr in 2009-10

 

• Additional budget allocation to farmers

 

• Allocation of Rashtriya Krishi Vikas Yojna stepped up by 30%

 

• Banking network to be expanded

 

• One banking centre in every bloc

 

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AKT/ST/SAK /spandey/General Budget 09-10-B

 

PIB Kolkata

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Palash Biswas
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