The world is abuzz with the news of the union Budget 09-10 released by Financial Minister, Pranab Mukharjee and Mamta Banerjee’s Railway Budget; and every Indian is busy analyzing the extent of disappointment the budget has delivered.

Gone are the times when the Youngistan, the Gen-X, used to sit in Barista, sipping coffee and acting not bothered by all this. The youth today understands that it’s their country, their budget. Therefore, they need to be aware of the clauses, at least, those which directly affect them if not all. But understanding the jargons of the financial and statistical world that the budget is stuffed with is something that can make you pull your hair out.

So, we thought to present you with the bulletins of the budget that you would be interested in. So when your dad screams at you for not watching the News and treat you like the most unaware, dumbo, respond him with a few shots of information about the budget that we are about to provide you with.

Full interest subsidy for students taking courses in approved institutions

This means that the students from the weaker sections, who have taken loans from scheduled banks to pursue a course in technical and professional streams from a recognized university of India, will get a full interest subsidy during the period of moratorium. A moratorium is an authorization to a debtor, permitting temporary suspension of payments.

New universities and intitutions

If you planning to get into IIT or have failed to get into one this time, keep your hopes alive, for Pranab Da has something that might bring a smile to your face. The Finance Minister has allocated Rs.827 crore for opening one Central University in each uncovered State and Rs. 2,113 crore for IITs and NITs. Out of this, Rs. 2,113 crore, around 450 crore is exclusively for setting up new IITs and NITs.

“Mission in Education through ICT’

The National Mission on Education through Information and Communication Technology (ICT) is a scheme that envisages capitalizing on the benefits of the Information Technology and other communication to impart education.

In the last budget, the scheme was allocated with over Rs. 500 crore. However, this time, Pranab Da has increased the provision to Rs. 900 crore.
 
Up-gradation of Polytechnics

In the Union Budget 09, the Finance Minister has enhanced the provision for setting up and up-gradation of Polytechnics under the Skill Development Mission to Rs.495 crore. So, if you are pursuing a course through polytechnic institution then, perhaps, your institution is going to get rich!
 
Punjab University

The students of the Punjab University, Chandigarh will finally have better facilities and infrastructure; provided the funds are actually ‘used’ and not merely on paper!
The union budget has allocated Rs. 50 crore to provide better infrastructure to the people of Chandigarh.
 
Girl power!

Being a girl is now getting more and more beneficial these days. Out of the funds allocated in the union budget, Rs 110 crore has been exclusively set aside for the for Rajiv Gandhi Scheme for Empowerment of Adolescent Girls.

India is a country where a rape victim has to relive the trauma for years and years because of the disgusting attitude for the society that treats them with sympathy, rather than supporting them to overcome the ordeal. Keeping this in mind Rs. 59 crore has been set aside in the budget this year for providing relief to the rape victims and rehabilitate them.

However, the fund allocated to this initiative is a bit disappointing; keeping in view that the Police has not been able to reduce cases of rape allover India, especially Delhi.

LCD cheaper, set top boxes get costlier

If you have been running behind your parents, asking them to buy a TV, this is just the right time. The customs duty on the manufacture of LCDs has been reduced to 5%. However, the set top boxes will cost you more as a proposal to impose a customs duty of 5% has been made.

Buying sports related goods to be cheaper

Subject to specified conditions the list of specified raw materials/inputs imported by manufacturer-exporters of sports goods which are exempted from customs duty will expanded by including five additional items.

With love, Mamta Di!

If Pranab Da has been listening to the voice of ‘youngistan,’ then could Mamta Didi be far behind?

The Minister of Railways, Mamta Banerjee, had a few sops for the students in her bag of Railway Budget 09.

Yuva trains

Following the trend set by Rahul Gandhi, Mamta has tried to woo the ‘young bloods’ by starting an AC train dedicated to their serviceat affordable tariff. Calling the youths as an ‘asset’, Mamta Banerjee said that the service, which will also cater to low-income individuals, would cost Rs.299 for distances up to 1,500 km and Rs.399 for up to 2,500 km.

A weekly service will be introduced as a pilot service within three months in the following sections:

a) Mumbai to Delhi

b) Delhi to Kolkata

If successful it will be extended to other areas of the country.

Free Monthly Seasonal Ticket:

Now girl students up to graduation level and boys up to 12th standard will be provided with free monthly seasonal tickets (from home to school). The facility will also be available for those going to Madrasas.
No, the scheme isn’t a brainchild of Mamta. The provision used to exist earlier as well, however, girls up to class 10th, and boys up to class 12th could avail this facility.

Colleges on Railways’ land

Mamta Banerjee sure wants to utilize the railway assets properly. According to her proposal in the railway budget 09, colleges will be opened on railway land through public-private partnership.

Slashed fares!

The passenger fares up to Rs.50 have been cut by one rupee in non-suburban Second Class (ordinary and mail/express) and by 5% across the board for passenger fares beyond Rs.50 for all non-suburban Second Class (ordinary and mail/express).

Which means, that if you travel on a ticket that used to cost you Rs. 5, now it will cost you just Rs. 4 and you can calculate the 5% cut on the fares that are applicable on the tickets that costs you more than 50 bucks. It might seem as a small cut in the fares, but at least there is a cut!

That’s not all, the fares of AC two-tier and AC-I have been slashed by 4 percent and 7 percent respectively. However, the reduction will be half for popular trains and during peak period.

Mobile ticket vans -"Mushkil Aasaan"

New train information system will be started in Kolkata, Chennai, Delhi and around 50 mobile rail ticket vans will be introduced to make ticketing convenient.

To add to the number of facilities being proposed are ATMs on 200 mid and small sized stations, passengers would now be able to buy tickets from Post Offices and receive SMS update on waitlisted tickets.

Finally, we get some respite from the long queues and we really hope that the system will ‘really work’.

Multi-functional Complexes

The budget also proposed the construction of Multi-functional Complexes in station premises for providing rail users facilities like shopping, food stalls and restaurants, book stalls, PCOs and fax booths, medicine & variety stores, budget hotels, underground parking etc.

These Multi-functional Complexes will be developed in different parts of the country at 50 railway stations serving places of pilgrimage, industry and tourist interest in this year. The responsibility for development of these facilities will be entrusted to IRCON and Rail Land Development Authority (RLDA).

For the differently-abled

The railways will extend a helping hand to physically challenged and aged by providing standard ramps, earmarked parking lots, specially designed coaches in each mail and express train, lifts and escalators, in a phased manner.

A special recruitment drive will be carried out to fill the posts vacant for the physically challenged

Double-decker coaches

Similar to the existing double decker buses the railway ministry in is the plans to initiate a novel idea of introducing high capacity air-conditioned double-decker coaches, for intercity travel which, Mamta Banerjee claims will have superior riding quality and comfort.

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