Union budget

6. Mar 2011

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Union budget

  1. It is an instrument for fulfilling the obligations of the states
  2. It is a political statement of the priorities set by the government.
  3. Each year survey is conducted to show the status of economic scenario of the country.
  4. The Economic Survey of India showcases the annual- economic development of the country.
  5. It is scheduled to be presented on 2nd July, when the Budget Session of Parliament begins.
  6. Challenges and policy response.
  7. Fiscal Developments and Public Finance.
  8. Price and Monetary management.
  9. Industrial Production.
  10. Agriculture & Food management.
  11. Energy, Infrastructure and Communication.
  12. Poverty and Human development.
  13. The overall growth of GDP at factor cost at constant prices in 2008-09, as per revised estimates released by the Central Statistical Organisation (CSO) (May 29, 2009) was 6.7 per cent.
  14. Despite the slowdown in growth, investment remained relatively buoyant, growing at a rate higher than that of GDP
  15. The overall rate of growth of capital information at constant price was 15.6 in 07-08 is compare to 13.9 in 06-07.
  16. An inflationary explosion in global commodity prices.
  17. Overall growth during the year remained as high as 8.5%.
  18. Agricultural sector contributed 12.2% of national exports in 2007-08.
  19. Total estimated income is Rs. 6,14,497crore.
  20. Sustain rate of growth 9%p.a over an extended time.
  21. IIFCL will refinance 60% of bank loan in critical sectors.
  22. Allocation of national highway authority of India for the national highway development programme increased by 23%.
  23. This is 34% up from the previous year.
  24. 2,113 crore to set upto more IITs and IIMs.
  25. Interest subsidy on loans for higher education.
  26. Rs. 827 crore allocated for opening one central university in each uncovered state.
  27. To develop and set up national gas grid.
  28. Domestic oil prices should be in sync with global crude.
  29. Pradhan Mantri Adarsh Gram Yojna has been initiated for integrated development of 1000 villages allocation Rs.100 crore.
  30. Allocation under Rajiv Gandhi Gram Vidyutikaran yojna is up by 27% to Rs.7000 crore.
  31. Bhiwani and Erode for powerlooms.
  32. Custom duty reduced from 10% to5% on 10 specific life saving drugs.
  33. Excise duty on branded articles of jewellery to be reduced from 2% to nil.
  34. The India Railway has expenditure 81685 crore.
  35. For all mail/express and ordinary passenger trains, second class and sleeper class fares are to be reduced by 2 per cent for tickets costing Rs 50 and more per passenger.
  36. Extension of 14 trains envisaged.
  37. Gauge conversion at Chhindwara, Ahmedpur and Naghbir
  38. 50 stations to be upgrade to world class standards.
  39. 49 stations to be developed at pilgrim centers.
  40. Multi-functional complexes with shopping malls, food stalls, medicines and variety stores in different parts of the country.
  41. To set up 1000 MW power plant.
  42. 309 out of 375 stations will be developed with modern facilities .