---------- Forwarded message ----------
From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Fri, Feb 26, 2010 at 2:40 PM
Subject: General Budget 2010-11 part4
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Substantial relief to individual tax payers
New Delhi: February 26, 2010.
In the General Budget 2010-11 presented by the Finance Minister Shri
Pranab Mukherjee in the Lok Sabha today, the income tax slabs for
individuals have been revised. The new slabs will be as under:
Income upto Rs 1.6 lakh Nil
Income above Rs 1.6 lakh and upto Rs. 5 lakh 10 per cent
Income above Rs. 5 lakh and upto Rs. 8 lakh 20 per cent
Income above Rs. 8 lakh 30 per cent
The existing limit of Rs 1 lakh on tax saving has been
raised by an additional amount of Rs. 20,000 for investment in long
term infrastructure bonds as notified by the central government.
Contributions to the Central Government Health Scheme have also been
allowed as deductions within the overall ceiling for tax rebate,
besides contributions to health insurance scheme s which are
currently allowed as deductions under the Income Tax Act.
bsc/rs/db/15/dk/kol/14:28 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Service Tax to be retained at 10%
CERTAIN NEW SERVICES TO BE BROUGHT WITHIN SERVICE TAX PURVIEW.
LEGISLATIVE CHANGES TO PLUG REVENUE LEAKAGES TO REMOVE DISTORTIONS AND
TO CLARIFY CERTAIN DOUBTS.
PROCESS OF REFUND OF ACCUMULATED CREDIT TO EXPORTERS OF SERVICES TO BE MADE EASY
ACCREDITED NEWS AGENCIES PROVIDING ONLINE FEED TO BE EXEMPTED FROM SERVICE TAX
NET REVENUE GAIN OF RS. 3,000 CRORE ESTIMATED FROM SERVICE TAX PROPOSALS.
New Delhi: February 26, 2010.
The Finance Minister Shri Pranab Mukherjee while presenting the Union
Budget 2010-11 in Lok Sabha today announced that rate of tax on
services will be retained at 10% to pave the way forward for Goods and
Services Tax (GST). Shri Mukherjee said that all services are not
being brought under service tax at this stage. He, however, announced
that certain services hitherto untaxed would be brought within the
purview of service tax levy. These services will be notified
separately, he added.
Shri Mukherjee informed that the new proposal relating to Service
Taxes are estimated to result in a new revenue gain of Rs. 3,000
crore.
The Finance Minister said that certain legislative changes are
proposed to be made to plug revenue leakages, to remove distortions
and he clarify certain doubts that have arisen over a period of time.
The details of these proposed changes have been provided in the
Finance Bill and other Budget documents, he added.
Shri Mukherjee pointed out that Export of Services, especially in the
area of Information Technology and Business Process Outsourcing (BPO),
generates substantial employment and brings in foreign exchange. He
said that process of refund of accumulated credit to exporters of such
services will be made easy by making necessary changes in the
definition of export of services and procedures.
Acknowledging the yeoman services of accredited news agencies which
provide news feed on line in disseminating news, the Finance Minister
announced that such news agencies which meet certain criteria will be
exempted from Service Tax.
bsc/aks/gdk/12/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Fiscal deficit pegged at 5.5 per cent
ROLLING TARGETS FOR 2011-12 AND 2012-13 TO BE 4.8 AND 4.1 PER CENT
AN INCREASE OF 8.6 PER CENT ENVISAGED IN THE TOTAL EXPENDITURE IN 2010-11
New Delhi: February 26, 2010.
Returning on the path of fiscal consolidation, the fiscal deficit is
proposed to be pegged at 5.5 per cent in the General Budget 2010-11
against a fiscal deficit of 7.8 per cent in 2008-09 and 6.9 per cent
as per the Revised Estimates for 2009-10. At 5.5 per cent of GDP the
fiscal deficit in 2010-11 works out to Rs. 3,81,408 crore. The Medium
Term Fiscal Policy statement presented by the Finance Minister, Shri
Pranab Mukherjee in Lok Sabha today has fixed the rolling targets for
fiscal deficit at 4.8 per cent and 4.1 per cent for 2011-12 and
2012-13 respectively.
The actual net market borrowing of the Government in 2010-11 is
estimated to be of the order of Rs. 3,45,010 crore. With this, the
Finance Minister expressed hope, that there would be enough space to
meet the credit needs of the private sector. The borrowing programme
will be planned in consultation with the Reserve Bank of India, said
the Finance Minister.
The total expenditure is proposed to be Rs. 11,08,749 crore in the
Budget Estimates (BE) for 2010-11, which is an increase of 8.6 per
cent over the total expenditure in Budget Estimates in 2009-10. The
Plan and Non Plan expenditures in BE 2010-11 are estimated at Rs.
3,73,092 crore and Rs. 7,35,657 crore, respectively. While there is a
15 per cent increase in Plan expenditure, the increase in Non Plan
expenditure is only 6 per cent over the BE of previous year.
Presenting the General Budget 2010-11, Shri Pranab Mukherjee said that
at this level the total Plan expenditure would be very closed to 100
per cent of the expenditure envisaged in the Eleventh Five Year Plan.
The Gross Tax Receipts are estimated at Rs. 7,46,651 crore. The Non
Tax revenue Receipts are estimated at Rs. 1,48,118 crore. The net tax
revenue to the Centre as well as the expenditure provisions in 2010-11
have been estimated with reference to the recommendations of the
Thirteenth Finance Commission.
bsc/sp/as/1/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Allocation for Rajiv Awas Yojana enhanced to Rs. 1270 crore from last
year's Rs. 150 crore
1 PER CENT INTEREST SUBVENTION FOR HOUSING LOAN UP TO RS. 10 LAKH
EXTENDED UPTO MARCH 31, 2011
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the
allocation for the Rajiv Awas Yojana has been increased by over 700
per cent from last year's Rs. 150 crore to Rs. 1270 crore for 2010-11.
This Yojana for slum dwellers and urban poor was announced last year
to extend support to States that are willing to provide property
rights to slum dwellers and is now ready to take off.
The Finance Minister announced that the scheme of 1 per cent interest
subvention on housing loans up to Rs.10 lakh where the cost of the
house does not exceed Rs.20 lakh is proposed to be extended up to
March 31, 2011. For this Rs. 700 crore has been provided in the
Budget,
The Finance Minister stated that the allocation for urban development
is being increased by more than75 per cent from Rs.3060 crore to Rs.
5400 crore in 2010-11. The allocation for Housing and Urban Poverty
Alleviation is being raised from Rs. 850 crore to Rs. 1,000 crore in
2010-11.
bsc/mv/gc / 37/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET: 2010-11
Government to follow four pronged strategy in agri sector: to promote
inclusive growth and enhance rural income
Rs. 400 CRORE FOR EXTENDING GREEN REVOLUTION IN EASTERN INDIA
60,000 'PULSES AND OIL SEED VILLAGES' PLANNED FOR RAINFED AREAS
FIVE MORE MEGA FOOD PARKS PROPOSED
New Delhi: February 26, 2010.
Shri Pranab Mukherjee, Union Finance Minister, while presenting the
Union Budget in Lok Sabha today, said that the government intends to
follow a four-pronged strategy covering (a) agricultural production;
(b) reduction in wastage of produce; (c) credit support to farmers;
and (d) a thrust to the food processing sector.
The first element of the strategy is to extend the green revolution to
the Eastern region of the country comprising Bihar, Chattisgarh,
Jharkhand, Eastern UP, West Bengal and Orissa by providing Rs.400
crore for this initiative during 2010-11. It is also proposed to
organize 60,000 'Pulses and oil seed villages' in rain-fed areas for
providing water harvesting, watershed management and enhance
productivity of the dry land farming areas by allocating Rs.300 crore.
An allocation of Rs.200 crore has also been provided for sustaining
the gains already made in the green revolution areas through
conservation farming.
The second element of the strategy relates to reduction of significant
wastage in storage as well as in the operations of the existing food
supply chains in the country. The deficit in storage capacity is met
through an ongoing scheme for private sector participation where the
FCI has been hiring godowns from private parties for a guaranteed
period of 5 years. This period is now being extended to seven years.
The third element of the strategy relates to improving the
availability of credit to farmers. The banks have been consistently
meeting the targets set for agriculture credit flow in the past few
years. For the year 2010-11, the target has been set at Rs.3,75,000
crore.
The fourth element of the strategy aims at lending a further impetus
to the development of food processing sector by providing
state-of-the-art infrastructure. In addition to the 10 mega food park
projects already being set up, the government has decided to set up
five more such parks.
bsc/rj/mrs/39/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Rs.66,100 crore provided for Rural Development
UNIT COST UNDER INDIRA AWAS YOJANA INCREASED TO RS.45,000 IN PLAIN
AREAS AND TO RS.48,500 IN HILLY AREAS
ADDITIONAL CENTRAL ASSISTANCE OF RS. 1,200 CRORE PROVIDED FOR DROUGHT
MITIGATION IN BUNDELKHAND
PLAN ALLOCATION FOR SCHOOL EDUCATION INCREASED BY 16 PER CENT
ANNUAL HEALTH SURVEY TO PREPARE DISTRICT HEALTH PROFILE OF ALL
DISTRICTS TO BE CONDUCTED IN 2010-11
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, stated that for the
Government, development of rural infrastructure remains a high
priority area. For the year 2010-11, Rs.66,100 crore has been provided
for rural development. For NREGA, the allocation has been stepped up
to Rs. 40,100 crore and for Bharat Nirman to Rs. 48,000 crore for
2010-11.
The Finance Minister announced that unit cost under Indira Awas Yojana
is being increased to Rs. 45,000 in plain areas and to Rs. 48,500 in
the hilly areas. Allocation for this scheme is being increased to Rs.
10,000 core for the year 2010-11.
The Finance Minister announced that additional central assistance of
Rs. 1,200 crore is being provided for drought mitigation in
Bundelkhand region. He said that as a part of the strategy to bridge
the infrastructure gap in backward districts of the country, the
Backward Region Grant Fund has proved to be an effective instrument.
It has been proposed to enhance the allocation to this fund by 26 per
cent from Rs. 5,800 croe in 2009-10 to Rs.7,300 crore in 2010-11.
The Finance Minister announced that the Plan allocation for school
education is being increased by 16 per cent from Rs. 26,800 crore in
2009-10 to Rs. 31,036 crore in 2010-11. In addition, States will have
access to Rs. 3,675 crore for elementary education under the
Thirteenth Finance Commission grants for 2010-11.
Shri Mukherjee announced that an Annual Health Survey to prepare the
District Health Profile of all Districts shall be conducted in
2010-11.
bsc/mv/gc /32/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
37 Per cent of total plan outlay for 2010-11 earmarked for social sector
APPROPRIATE BANKING FACILITIES FOR HABITATIONS WITH POPULATION ABOVE 2000
AUGMENTATION OF RS.100 CRORE EACH FOR FINANCIAL INCLUSION FUND AND
FINANCIAL INCLUSION TECHNOLOGY FUND
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the
spending on social sector has been gradually increased to Rs.1,37,674
crore and now stands at 37 per cent of the total plan outlay in
2010-11. Another 25 per cent of the plan allocations are devoted to
the development of rural infrastructure. With growth and the
opportunities that it generates, the Government hopes to further
strengthen the process of inclusive development, he added.
The Finance Minister has stated that to reach the benefits of banking
services to the 'Aam Aadmi', the Reserve Bank of India had set up a
High Level Committee on the Lead Bank Scheme. After careful assessment
of the recommendations of this Committee, and in further consultation
with the RBI, it has been decided to provide appropriate Banking
facilities to habitations having population in excess of 2000 by
March, 2012. It is also proposed to extend insurance and other
services to the targeted beneficiaries. These services will be
provided using the Business Correspondent and other models with
appropriate technology back up. By this arrangement, it is proposed to
cover 60,000 habitations.
In 2007-08 the Government had set up a Financial Inclusion Fund and a
Financial Inclusion Technology Fund in NABARD, to reach banking
services to the unbanked areas. To give momentum to the pace of
financial inclusion, the Finance Minister has proposed an augmentation
of Rs. 100 crore for each of these funds, which shall be contributed
by Government of India, RBI and NABARD.
bsc/mv/gc /22/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET: 2010-11
Additional one per cent interest subvention to farmers
REPAYMENT PERIOD OF LOAN BY FARMERS EXTENDED BY SIX MONTHS
New Delhi: February 26, 2010.
Shri Pranab Mukherjee, Union Finance Minister, while presenting the
Union Budget in Lok Sabha today, informed that an incentive of
additional one per cent interest subvention to farmers who repay
short-term crop loans as per schedule, is proposed to be increased to
two per cent for 2010-11. Thus, the effective rate of interest for
such farmers will now be 5 per cent per annum.
In view of the recent drought in some States and the severe floods in
some other parts in other country, the period for repayment of the
loan amount by farmers is proposed to be extended by six months from
December 31, 2009 to June 30, 2010 under the Debt Waiver and Debt
Relief Scheme for farmers.
bsc/rj/mrs/29/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Plan Allocation for Ministry of Social Justice and Empowerment
enhanced by 80 per cent
PLAN OUTLAY FOR MINISTRY OF MINORITY AFFAIRS AND FOR WOMEN AND CHILD
DEVELOPMENT ENHANCED BY ALMOST 50 PER CENT
MAHILA KISAN SASHAKTIKARAN PARIYOJANA TO BE LAUNCHED
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the Plan
outlay of the Ministry of Social Justice and Empowerment has been
enhanced by 80 per cent to Rs. 4500 crore, supporting programmes being
implemented for target population groups covering Scheduled Castes,
Other Backward Classes,persons with disabilities, senior citizens and
victims of alcoholism and substance abuse. With this enhancement, the
Ministry will be able to revise the rates of scholarship under its
post-matric scholarship schemes for SCs and OBC students, which is
long overdue, he added. The allocation will also assist in
establishing an Indian Sign Language Research and Training Centre for
the benefit of the hearing impaired. District Disability
Rehabilitation Centres are being set up in 50 additional districts
along with two composite regional centres for persons with
disabilities.
The Finance Minister also announced that the Plan outlay for Women and
Child Development is being stepped up by almost 50 per cent. The ICDS
platform is being expanded for effective implementation of the Rajiv
Gandhi Scheme for Adolescent Girls. A mission for the empowerment of
women is being set up.
Shri Mukherjee stated that the Plan allocation for the Ministry of
Minority Affairs is being increased by nearly 50 per cent from Rs.1740
crore to Rs.2600 crore for the year 2010-11. He added that the
Government is close to achieving the target of 15 per cent priority
sector lending to minorities in the current year, which will be
maintained in the next three years.
The Finance Minister announced the launch of a Mahila Kisan
Sashaktikaran Pariyojana to meet the specific needs of women farmers.
Rs. 100 crore is being provided for this initiatives as a
sub-component of the National Rural Livelihood Mission.
bsc/mv/gc/23/dk/kol/14:32 hrs.
From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Fri, Feb 26, 2010 at 2:40 PM
Subject: General Budget 2010-11 part4
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Substantial relief to individual tax payers
New Delhi: February 26, 2010.
In the General Budget 2010-11 presented by the Finance Minister Shri
Pranab Mukherjee in the Lok Sabha today, the income tax slabs for
individuals have been revised. The new slabs will be as under:
Income upto Rs 1.6 lakh Nil
Income above Rs 1.6 lakh and upto Rs. 5 lakh 10 per cent
Income above Rs. 5 lakh and upto Rs. 8 lakh 20 per cent
Income above Rs. 8 lakh 30 per cent
The existing limit of Rs 1 lakh on tax saving has been
raised by an additional amount of Rs. 20,000 for investment in long
term infrastructure bonds as notified by the central government.
Contributions to the Central Government Health Scheme have also been
allowed as deductions within the overall ceiling for tax rebate,
besides contributions to health insurance scheme s which are
currently allowed as deductions under the Income Tax Act.
bsc/rs/db/15/dk/kol/14:28 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Service Tax to be retained at 10%
CERTAIN NEW SERVICES TO BE BROUGHT WITHIN SERVICE TAX PURVIEW.
LEGISLATIVE CHANGES TO PLUG REVENUE LEAKAGES TO REMOVE DISTORTIONS AND
TO CLARIFY CERTAIN DOUBTS.
PROCESS OF REFUND OF ACCUMULATED CREDIT TO EXPORTERS OF SERVICES TO BE MADE EASY
ACCREDITED NEWS AGENCIES PROVIDING ONLINE FEED TO BE EXEMPTED FROM SERVICE TAX
NET REVENUE GAIN OF RS. 3,000 CRORE ESTIMATED FROM SERVICE TAX PROPOSALS.
New Delhi: February 26, 2010.
The Finance Minister Shri Pranab Mukherjee while presenting the Union
Budget 2010-11 in Lok Sabha today announced that rate of tax on
services will be retained at 10% to pave the way forward for Goods and
Services Tax (GST). Shri Mukherjee said that all services are not
being brought under service tax at this stage. He, however, announced
that certain services hitherto untaxed would be brought within the
purview of service tax levy. These services will be notified
separately, he added.
Shri Mukherjee informed that the new proposal relating to Service
Taxes are estimated to result in a new revenue gain of Rs. 3,000
crore.
The Finance Minister said that certain legislative changes are
proposed to be made to plug revenue leakages, to remove distortions
and he clarify certain doubts that have arisen over a period of time.
The details of these proposed changes have been provided in the
Finance Bill and other Budget documents, he added.
Shri Mukherjee pointed out that Export of Services, especially in the
area of Information Technology and Business Process Outsourcing (BPO),
generates substantial employment and brings in foreign exchange. He
said that process of refund of accumulated credit to exporters of such
services will be made easy by making necessary changes in the
definition of export of services and procedures.
Acknowledging the yeoman services of accredited news agencies which
provide news feed on line in disseminating news, the Finance Minister
announced that such news agencies which meet certain criteria will be
exempted from Service Tax.
bsc/aks/gdk/12/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Fiscal deficit pegged at 5.5 per cent
ROLLING TARGETS FOR 2011-12 AND 2012-13 TO BE 4.8 AND 4.1 PER CENT
AN INCREASE OF 8.6 PER CENT ENVISAGED IN THE TOTAL EXPENDITURE IN 2010-11
New Delhi: February 26, 2010.
Returning on the path of fiscal consolidation, the fiscal deficit is
proposed to be pegged at 5.5 per cent in the General Budget 2010-11
against a fiscal deficit of 7.8 per cent in 2008-09 and 6.9 per cent
as per the Revised Estimates for 2009-10. At 5.5 per cent of GDP the
fiscal deficit in 2010-11 works out to Rs. 3,81,408 crore. The Medium
Term Fiscal Policy statement presented by the Finance Minister, Shri
Pranab Mukherjee in Lok Sabha today has fixed the rolling targets for
fiscal deficit at 4.8 per cent and 4.1 per cent for 2011-12 and
2012-13 respectively.
The actual net market borrowing of the Government in 2010-11 is
estimated to be of the order of Rs. 3,45,010 crore. With this, the
Finance Minister expressed hope, that there would be enough space to
meet the credit needs of the private sector. The borrowing programme
will be planned in consultation with the Reserve Bank of India, said
the Finance Minister.
The total expenditure is proposed to be Rs. 11,08,749 crore in the
Budget Estimates (BE) for 2010-11, which is an increase of 8.6 per
cent over the total expenditure in Budget Estimates in 2009-10. The
Plan and Non Plan expenditures in BE 2010-11 are estimated at Rs.
3,73,092 crore and Rs. 7,35,657 crore, respectively. While there is a
15 per cent increase in Plan expenditure, the increase in Non Plan
expenditure is only 6 per cent over the BE of previous year.
Presenting the General Budget 2010-11, Shri Pranab Mukherjee said that
at this level the total Plan expenditure would be very closed to 100
per cent of the expenditure envisaged in the Eleventh Five Year Plan.
The Gross Tax Receipts are estimated at Rs. 7,46,651 crore. The Non
Tax revenue Receipts are estimated at Rs. 1,48,118 crore. The net tax
revenue to the Centre as well as the expenditure provisions in 2010-11
have been estimated with reference to the recommendations of the
Thirteenth Finance Commission.
bsc/sp/as/1/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Allocation for Rajiv Awas Yojana enhanced to Rs. 1270 crore from last
year's Rs. 150 crore
1 PER CENT INTEREST SUBVENTION FOR HOUSING LOAN UP TO RS. 10 LAKH
EXTENDED UPTO MARCH 31, 2011
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the
allocation for the Rajiv Awas Yojana has been increased by over 700
per cent from last year's Rs. 150 crore to Rs. 1270 crore for 2010-11.
This Yojana for slum dwellers and urban poor was announced last year
to extend support to States that are willing to provide property
rights to slum dwellers and is now ready to take off.
The Finance Minister announced that the scheme of 1 per cent interest
subvention on housing loans up to Rs.10 lakh where the cost of the
house does not exceed Rs.20 lakh is proposed to be extended up to
March 31, 2011. For this Rs. 700 crore has been provided in the
Budget,
The Finance Minister stated that the allocation for urban development
is being increased by more than75 per cent from Rs.3060 crore to Rs.
5400 crore in 2010-11. The allocation for Housing and Urban Poverty
Alleviation is being raised from Rs. 850 crore to Rs. 1,000 crore in
2010-11.
bsc/mv/gc / 37/dk/kol/14:29 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET: 2010-11
Government to follow four pronged strategy in agri sector: to promote
inclusive growth and enhance rural income
Rs. 400 CRORE FOR EXTENDING GREEN REVOLUTION IN EASTERN INDIA
60,000 'PULSES AND OIL SEED VILLAGES' PLANNED FOR RAINFED AREAS
FIVE MORE MEGA FOOD PARKS PROPOSED
New Delhi: February 26, 2010.
Shri Pranab Mukherjee, Union Finance Minister, while presenting the
Union Budget in Lok Sabha today, said that the government intends to
follow a four-pronged strategy covering (a) agricultural production;
(b) reduction in wastage of produce; (c) credit support to farmers;
and (d) a thrust to the food processing sector.
The first element of the strategy is to extend the green revolution to
the Eastern region of the country comprising Bihar, Chattisgarh,
Jharkhand, Eastern UP, West Bengal and Orissa by providing Rs.400
crore for this initiative during 2010-11. It is also proposed to
organize 60,000 'Pulses and oil seed villages' in rain-fed areas for
providing water harvesting, watershed management and enhance
productivity of the dry land farming areas by allocating Rs.300 crore.
An allocation of Rs.200 crore has also been provided for sustaining
the gains already made in the green revolution areas through
conservation farming.
The second element of the strategy relates to reduction of significant
wastage in storage as well as in the operations of the existing food
supply chains in the country. The deficit in storage capacity is met
through an ongoing scheme for private sector participation where the
FCI has been hiring godowns from private parties for a guaranteed
period of 5 years. This period is now being extended to seven years.
The third element of the strategy relates to improving the
availability of credit to farmers. The banks have been consistently
meeting the targets set for agriculture credit flow in the past few
years. For the year 2010-11, the target has been set at Rs.3,75,000
crore.
The fourth element of the strategy aims at lending a further impetus
to the development of food processing sector by providing
state-of-the-art infrastructure. In addition to the 10 mega food park
projects already being set up, the government has decided to set up
five more such parks.
bsc/rj/mrs/39/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Rs.66,100 crore provided for Rural Development
UNIT COST UNDER INDIRA AWAS YOJANA INCREASED TO RS.45,000 IN PLAIN
AREAS AND TO RS.48,500 IN HILLY AREAS
ADDITIONAL CENTRAL ASSISTANCE OF RS. 1,200 CRORE PROVIDED FOR DROUGHT
MITIGATION IN BUNDELKHAND
PLAN ALLOCATION FOR SCHOOL EDUCATION INCREASED BY 16 PER CENT
ANNUAL HEALTH SURVEY TO PREPARE DISTRICT HEALTH PROFILE OF ALL
DISTRICTS TO BE CONDUCTED IN 2010-11
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, stated that for the
Government, development of rural infrastructure remains a high
priority area. For the year 2010-11, Rs.66,100 crore has been provided
for rural development. For NREGA, the allocation has been stepped up
to Rs. 40,100 crore and for Bharat Nirman to Rs. 48,000 crore for
2010-11.
The Finance Minister announced that unit cost under Indira Awas Yojana
is being increased to Rs. 45,000 in plain areas and to Rs. 48,500 in
the hilly areas. Allocation for this scheme is being increased to Rs.
10,000 core for the year 2010-11.
The Finance Minister announced that additional central assistance of
Rs. 1,200 crore is being provided for drought mitigation in
Bundelkhand region. He said that as a part of the strategy to bridge
the infrastructure gap in backward districts of the country, the
Backward Region Grant Fund has proved to be an effective instrument.
It has been proposed to enhance the allocation to this fund by 26 per
cent from Rs. 5,800 croe in 2009-10 to Rs.7,300 crore in 2010-11.
The Finance Minister announced that the Plan allocation for school
education is being increased by 16 per cent from Rs. 26,800 crore in
2009-10 to Rs. 31,036 crore in 2010-11. In addition, States will have
access to Rs. 3,675 crore for elementary education under the
Thirteenth Finance Commission grants for 2010-11.
Shri Mukherjee announced that an Annual Health Survey to prepare the
District Health Profile of all Districts shall be conducted in
2010-11.
bsc/mv/gc /32/dk/kol/14:30 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
37 Per cent of total plan outlay for 2010-11 earmarked for social sector
APPROPRIATE BANKING FACILITIES FOR HABITATIONS WITH POPULATION ABOVE 2000
AUGMENTATION OF RS.100 CRORE EACH FOR FINANCIAL INCLUSION FUND AND
FINANCIAL INCLUSION TECHNOLOGY FUND
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the
spending on social sector has been gradually increased to Rs.1,37,674
crore and now stands at 37 per cent of the total plan outlay in
2010-11. Another 25 per cent of the plan allocations are devoted to
the development of rural infrastructure. With growth and the
opportunities that it generates, the Government hopes to further
strengthen the process of inclusive development, he added.
The Finance Minister has stated that to reach the benefits of banking
services to the 'Aam Aadmi', the Reserve Bank of India had set up a
High Level Committee on the Lead Bank Scheme. After careful assessment
of the recommendations of this Committee, and in further consultation
with the RBI, it has been decided to provide appropriate Banking
facilities to habitations having population in excess of 2000 by
March, 2012. It is also proposed to extend insurance and other
services to the targeted beneficiaries. These services will be
provided using the Business Correspondent and other models with
appropriate technology back up. By this arrangement, it is proposed to
cover 60,000 habitations.
In 2007-08 the Government had set up a Financial Inclusion Fund and a
Financial Inclusion Technology Fund in NABARD, to reach banking
services to the unbanked areas. To give momentum to the pace of
financial inclusion, the Finance Minister has proposed an augmentation
of Rs. 100 crore for each of these funds, which shall be contributed
by Government of India, RBI and NABARD.
bsc/mv/gc /22/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET: 2010-11
Additional one per cent interest subvention to farmers
REPAYMENT PERIOD OF LOAN BY FARMERS EXTENDED BY SIX MONTHS
New Delhi: February 26, 2010.
Shri Pranab Mukherjee, Union Finance Minister, while presenting the
Union Budget in Lok Sabha today, informed that an incentive of
additional one per cent interest subvention to farmers who repay
short-term crop loans as per schedule, is proposed to be increased to
two per cent for 2010-11. Thus, the effective rate of interest for
such farmers will now be 5 per cent per annum.
In view of the recent drought in some States and the severe floods in
some other parts in other country, the period for repayment of the
loan amount by farmers is proposed to be extended by six months from
December 31, 2009 to June 30, 2010 under the Debt Waiver and Debt
Relief Scheme for farmers.
bsc/rj/mrs/29/dk/kol/14:31 hrs.
Press Information Bureau
Government of India
* * * * *
Ministry of Finance GENERAL BUDGET 2010-11
Plan Allocation for Ministry of Social Justice and Empowerment
enhanced by 80 per cent
PLAN OUTLAY FOR MINISTRY OF MINORITY AFFAIRS AND FOR WOMEN AND CHILD
DEVELOPMENT ENHANCED BY ALMOST 50 PER CENT
MAHILA KISAN SASHAKTIKARAN PARIYOJANA TO BE LAUNCHED
New Delhi: February 26, 2010.
The Finance Minister, Shri Pranab Mukherjee, while presenting the
Union Budget 2010-11, in the Lok Sabha today, announced that the Plan
outlay of the Ministry of Social Justice and Empowerment has been
enhanced by 80 per cent to Rs. 4500 crore, supporting programmes being
implemented for target population groups covering Scheduled Castes,
Other Backward Classes,persons with disabilities, senior citizens and
victims of alcoholism and substance abuse. With this enhancement, the
Ministry will be able to revise the rates of scholarship under its
post-matric scholarship schemes for SCs and OBC students, which is
long overdue, he added. The allocation will also assist in
establishing an Indian Sign Language Research and Training Centre for
the benefit of the hearing impaired. District Disability
Rehabilitation Centres are being set up in 50 additional districts
along with two composite regional centres for persons with
disabilities.
The Finance Minister also announced that the Plan outlay for Women and
Child Development is being stepped up by almost 50 per cent. The ICDS
platform is being expanded for effective implementation of the Rajiv
Gandhi Scheme for Adolescent Girls. A mission for the empowerment of
women is being set up.
Shri Mukherjee stated that the Plan allocation for the Ministry of
Minority Affairs is being increased by nearly 50 per cent from Rs.1740
crore to Rs.2600 crore for the year 2010-11. He added that the
Government is close to achieving the target of 15 per cent priority
sector lending to minorities in the current year, which will be
maintained in the next three years.
The Finance Minister announced the launch of a Mahila Kisan
Sashaktikaran Pariyojana to meet the specific needs of women farmers.
Rs. 100 crore is being provided for this initiatives as a
sub-component of the National Rural Livelihood Mission.
bsc/mv/gc/23/dk/kol/14:32 hrs.
--
Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/
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