New Delhi: Union Finance Minister P Chidambaram on Friday submitted his seventh and UPA regime's last Budget in Parliament.
Growth to be led by Services & Manufacturing sector.
India registered a growth of over 8 per cent for 12 consecutive quarters.
Focus to be given on managing supply side of food, capital inflows and market.
Manufacturing sector to grow by 9.4 per cent.
Rice and Maize production to be at 94.08 and 16.78 million tonnes respectively.
Keeping inflation under check to be the top priority.
Soya Bean output to be 9.45 million tonnes.
Year 2008-09 should be a year of consolidation.
Rs 31,880 cr allocated for Bharat Nirman programme.
Mid-day meal scheme to be extended to upper primary classes.
Proposal to set up three new IITs in AP, Bihar and Rajasthan.
Age limit for Science scholarships to be raised.
Funding of educational sector up by 20 pre cent.
Health spending to be increased by 15 per cent.
Development of Rs 500 cr for Northeast.
Supply of food articles to be the biggest challenge.
Rs 650 cr for model school programme with 6,000 new schools.
Rs 70,200 cr allocated for drinking water mission.
National Rural Health Mission to get Rs 12,050 cr.
Agri credit doubled in first two years.
Rs 1,200 cr allotted for sanitation programmes.
Rs 804 cr allocated for SC development programme.
Rs 164 cr allocated for OBC development programme.
Focus on achieving self-sufficiency in food grain.
National programme for elderly with plan outlay of Rs 400 cr.
Rs 30,000 health insurance for all BPL (below poverty line) families.
16 new central universities to be built.
Allocation for ICDs increased to 6,300 cr.
Rs 992 cr for national AIDS programme.
IT industry to get Rs 100 cr for connecting knowledge institutions.
New scheme for debt waiver and debt relief for farmers.
All loans for farmers due up to 31 Mar 2007 have been waived.
Loans from farmers from SCBs, RRBs and Co-op banks to be waived.
Banks to disburse Rs 2, 80,000 cr agro-credit.
Waiver of loans for small farmers with 1-2 hectares of land.
One-time settlement scheme for farmers.
Focus on ambitious schemes for farm sector.
Implementation of debt waiver to be completed by June 2008.
Re-scheduled agri loans will also be eligible for waivers.
At least 4 cr farmers to be benefited by loan waiver.
Total value of loans waived off amounts to Rs 60,000 cr.
Loan waiver to discourage fresh lending.
Waive amounts to 4 per cent of total bank loans
Weather based crop insurance scheme to continue.
Rs 400 million for special tea fund.
Rs 200 billion for irrigation.
Govt to provide debt support of Rs 303 cr to PSUs.
Growth in capital goods still healthy at 20.2 per cent.
National fund for power transmission and distribution.
Plan Rs 800 cr for accelerating power reform in FY09.
Completion rate of golden Quadrilateral project at 98.6 per cent.
Rs 12970 cr allocated for National Highways.
Commercial banks advised to have 250 rural accounts every year.
Rs 16,436 as equity support to public sector enterprise.
Rs 5,000 cr fund for enhancing re-financing operations.
To create risk capital fund in SIDBI.
Provision of Rs 450 cr for textile parks.
All 30 integrated textile parks approved.
NELP-VII to attract investments worth $3.5-8 bn.
Coal regulator to be established with more reforms in coal and electricity.
PAN requirement extended to all financial markets.
PAN sole identification in securities market.
Govt to launch exchange traded forex along with rate derivative market.
Dollar sterilisation cost via MSS at Rs 8,351 cr for 2007-08.
Differences in state duties and levies hampering securities market.
States to help develop national securities market.
Allocation for TUF at Rs 1090 cr up from Rs 911 cr.
Defence allocation raised to Rs105,600 cr.
Rs 624 cr allocated for Commmonwealth Games.
6th Pay commission to meet employee expectation.
Rs 3,22,667 cr for food subsidies under PDS scheme.
Fiscal deficit of 3.1 per cent of GDP with revenue deficit at 1.4 per cent.
Fiscal target under FRBM Act to be met.
No change in peak customs duty.
Fiscal deficit target for 2008-09 at Rs 1,33,287 cr.
Revenue deficit target for 2008-09 at Rs 55184 cr.
FY09 fiscal target at 2.5 per cent of GDP.
Govt needs one more year to eliminate fiscal deficit.
Customs duty on few bulk drugs cut to 5 per cent vs 10 per cent.
Customs duty on project imports cut to 5 per cent vs 7.5 per cent.
Customs duty on steel scrap cut to 0 per cent vs 5 per cent.
Customs on steel melting, aluminium melting cut to 0 per cent vs 5 per cent.
Customs duty on phosphoric acid cut to 5 per cent vs 7.5 per cent.
Few IT, hardware components exempted from Customs duty.
Customs duty on few bulk drugs cut to 5 per cent vs 10 per cent.
Customs duty on project imports cut to 5 per cent vs 7.5 per cent.
Excise duty on 2-wheeler, small cars cut from 16 per cent to 12 per cent.
Customs duty on crude/unrefined sulphur cut to 2 per cent vs 5 per cent.
Excise duty on buses and chassis cut from 16 per cent to 12 per cent.
Customs exempt to continue only for naphtha for fertilisers.
CENVAT reduced from 16 per cent to 14 per cent on all goods.
Filter, non-filter cigarettes to be taxed at par.
Excise duty on bulk cement at Rs 400/tonne.
Excise cut on all pharma goods at 8 per cent vs 16 per cent.
Excise duty on some paper types cut to 10 per cent from 12 per cent.
Excise duty on hybrid cars cut from 24 per cent to 14 per cent.
Personal income tax exemption slab at Rs 1.5 lakh.
No change in corporate tax.
Personal income tax exemption slab for women at Rs 1.8 lakh.
30 per cent Income tax for income above Rs 5 lakh.
10 per cent income tax for income in the range of Rs 1.5-3 lakh.
Production of seeds added to VAT list.
5-year tax holiday for setting up hospitals in non-urban cities.
Short-term cap gains hiked to 15 per cent.
DDT unchanged at 15 per cent.
Govt to introduce commodities transaction tax, like STT.
Levy of STT only on option premiums.
Central Sales Tax cut to 2 per cent from 3 per cent.
Banking cash transaction tax withdrawn.
Securities Transaction Tax (STT) rates unchanged.
Direct tax proposals revenue neutral.
Rs 80 billion for accelerated power development programmes.
100,000 broadband-enabled common service centres to be set up in villages.
Rashtriya Krishi Vikas Yojana to get Rs 2.8 trillion.
Sanitation to get Rs 1,200 cr.
Rajiv Gandhi Drinking Water Mission to get Rs 7,300 cr.
54 depts to be set up gender budgeting divisions.
Schemes for women to get Rs 11,460 cr this fiscal.
LIC to cover all woman SHGs linked to the bank.
National Horticulture Mission to get Rs 1,100 cr.
Rs 275 cr earmarked for state data centres.
Coal regulator to be established.
22 Sainik schools get Rs 44 cr.
OTS to cost govt Rs 10,000 cr.
