Key Features of Budget 2008-2009
The Gross Domestic Product increased by
7.5%, 9.4% and 9.6% in first 3 years, of the UPA
Government resulting in an unprecedented
average growth rate of 8.8%.
The drivers of growth continue to be 'services'
and ‘manufacturing’ which are estimated to
grow at 10.7% and 9.4% respectively.
Growth rate in agriculture for 2007-08 is
estimated at 2.6%.
Food grain production in 2007-08, estimated
at 219.32 million tones-an all time record.
Rice production at 94.08 million tones, maize
at 16.78 million tones, Soya bean at 9.45
million tones, cotton at 23.38 million bales
each, an all time record.
Rashtriya Krishi Vikas Yojana launched with
an outlay of Rs. 25,000 crore, National Food
Security Mission with an outlay of Rs. 4,882
crore under National Policy for Farmers in the
Eleventh Five Year Plan. 3/24/2009
THE GROWTH STORY
Agricultural credit poised to reach
Rs. 2,40,000 crore by March, 2008.
11.4 crore children covered under
Mid Day Meal Scheme, the largest
School Lunch programme in the world.
Under National Rural Health Mission 8,756
primary health centre's have been made 24x7
1,82,000 girls enrolled in residential schools under
Kasturba Gandhi Balika Vidyalaya Scheme. 3/24/2009
CORPORATE AND BUSINESS
20% INCREASE IN THE TUF PACKAGE FR
REDUCTION IN THE AUTOMOBILES
NOMINAL GROWTH FOR HOTEL &
NO SCOPE FOR SMALL SCALE INDUSTRIES
NO REDUCTION IN THE CORPORATE TAX
ZERO % INTEREST LOAN FOR
RELIEF IN THE DEBTS.
LOAN FASCILITY AVAILAIBLE IN
GOVERNMENT AND CORPORATIVE
NO PROVISION FOR SMALL FARMERS
Growth of hospitals
Allocation for National Rural Health Mission increased by 15%
Rs. 12,050 crores to strengthen health services in rural area
Excise duty on the pharma products to be reduced to 14%
The excise duties on anti-AIDS drugs to be lowered
Rs. 1,042 crores to be allocated for anti-Polio drive
PROMOTION OF IIT’S
• The growth rate of the economy has been 8.8%
• Service sector is the key player and expected to grow at 10.7 %
• Tax exemption limit increased from Rs. 1,10,000 to Rs. 1,50,000
• Tax exemption limit for women increased from Rs. 1,45,000 to 1,80,000
• Tax rate for the income bracket Rs. 1,50,000 to 3,00,000 to be 10%
• Tax rate for the income bracket Rs. 3,00,000 to Rs. 5,00,000 to be 20%
• Income above Rs. 5,00,000 to be taxed at 30%
• Exemption limit for the senior citizens to be increased from Rs. 1,95,000
• Excise duty on small cars to be 14% 3/24/2009
• Excised duty reduced to 8% on water purification devices