Interim Budget 2009

  • Pre-Budget rally fizzles; elections, RBI meet next trigger February 18, 2009

    With the Railway and Interim Budget out of the way, all eyes are on the upcoming general elections and Reserve Bank’s upcoming Monetary Policy meet. The street is expecting a 50-100 bps rate cut along with several measures to ease liquidity in the system. A week back the picture in the...
  • Advani wonders what would UPA do without Pranab February 17, 2009

    New Delhi: Taking a subtle dig at the Congress-led United Progressive Alliance (UPA), BJP's prime ministerial hopeful L K Advani on Tuesday generously praised External Affairs Minister Pranab Mukherjee and wondered aloud what the Government would have done without him. "I have great admiration for his (Mukherjee's) abilities and sometimes think...
  • Defence Budget hike to go in pay, little left for arms February 17, 2009

    New Delhi: The 23 per cent hike proposed in Defence spending in the Interim Budget seems to send a political signal that national security is high on the United Progressive Alliance Government's agenda. But a closer look reveals that much of the Rs 27,000 crore hike will not buy weapons but...
  • Poll speak in Pranab's Budget speech, none impressed February 17, 2009

    New Delhi: The UPA Government made propriety its excuse for a bland interim Budget. A vote on account has to be a report card and a simple projection of the government's expenses for the next few months. There cannot be new plans. Opinion among the experts was divided on whether...
  • Pranab's zeal: Budget in morning, diplomacy at noon February 16, 2009

    New Delhi: Veteran Congress politician Pranab Mukherjee is the archetypal multi-tasker and role-player. In the morning, he presents the interim budget, does a spot of number-crunching and tom-toms myriad achievements of the poll-bound UPA government. A few hours later, he is closeted with US special envoy Richard Holbrooke, discussing Mumbai, Pakistan and...
  • Budget reax: PM happy | India Inc not | Opposition upset February 16, 2009

    Prime Minister Manmohan Singh Monday hailed the interim budget as a 'fine balancing act', and said it will stimulate growth for the country in these difficult times. Most opposition parties, including the Bharatiya Janata Party (BJP) and the Left, on Monday said that the interim budget presented by External Affairs...
  • Budget ignores 'aam admi, recession, says opposition February 16, 2009

    New Delhi: Most opposition parties, including the Bharatiya Janata Party (BJP) and the Left, on Monday said that the interim budget presented by External Affairs Minister Pranab Mukherjee has ignored the aam admi or common man and failed to address the economic recession. However, the ruling Congress said given the 'unenviable...
  • Interim budget a fine balancing act: Manmohan Singh February 16, 2009

    New Delhi: Prime Minister Manmohan Singh Monday hailed the interim budget as a 'fine balancing act', and said it will stimulate growth for the country in these difficult times. "I have no doubt that the continued stimulus for the various flagship programmes of the government will provide relief to all sections...
  • UPA government has ignored aam admi' Advani February 16, 2009

    New Delhi: Senior Bharatiya Janata Party (BJP) leader LK Advani on Monday said the aam admi, or common man, has been badly let down during the five years of the United Progressive Alliance (UPA) rule. Speaking after the interim budget was presented, Advani, the BJP's prime ministerial aspirant, said the UPA...
  • Bland Budget is UPA's recipe to score in polls | Highlights February 16, 2009

    New Delhi: The Government gave spending estimates on Tuesday for the first four months of 2009/10, with sops for rural voters but few fresh measures to boost a faltering economy ahead of elections due in May. The reason for a bland budget The Government appeared cautious about unveiling big-ticket projects ahead of...
  • Chidu hails Interim Budget given the difficult times February 16, 2009

    New Delhi: Home Minister P Chidambaram on Monday praised the Interim Budget tabled in Parliament, saying Minister for External Affairs Pranab Mukherjee had done a commendable job given the difficult times facing the Indian economy. Chidambaram, who till the end of November last year was India's finance minister and held that...
  • Interim Budget: UPA to overshoot expenditure estimate February 16, 2009

    New Delhi: The Government on Monday revised the total expenditure estimate in the current fiscal to a little over Rs 9,00,953 crore, an increase of Rs 1,50,069 crore on account of increased assistance to states, greater sectoral investments and a higher subsidy burden. In the interim budget that he presented in...
  • Agriculture plan allocation up 300 pc in 5 yrs February 16, 2009

    New Delhi: Claiming that the United Progressive Alliance Government has given "focussed attention" to farmers, Minister for External Affairs Pranab Mukherjee on Monday said the plan outlay for the agriculture sector was hiked 300 per cent between 2003-04 and 2008-09. Presenting the interim budget for 2009-10 in parliament, Mukherjee said the...
  • Two new IITs to begin sessions next fiscal February 16, 2009

    New Delhi: Two new Indian Institutes of Technology (IITs) will commence academic sessions in 2009-10, External Affairs Minister Pranab Mukherjee said while presenting the Interim Budget in the Lok Sabha on Monday. An ordinance was promulgated for establishing 15 Central universities and in addition to this, six new IITs in Bihar,...
  • RTI has made public servants accountable: Pranab February 16, 2009

    New Delhi: The Right to Information (RTI) Act 2005 has made public servants more accountable than before, acting Finance Minister Pranab Mukherjee said on Monday. "The enactment of the Right to Information Act 2005 at the Centre and in many states has bridged a critical gap in the public decision making...
  • Pranab speaks of the 'hand' that can help February 16, 2009

    New Delhi: Finance Minister Pranab Mukherjee on Monday chanted the mantra of aam aadmi, the Congress mascot, while presenting the last Budget before the Lok Sabha elections. In an obvious reference to the election symbol of the Congress, he spoke more than once that people will recognise the 'hand' when they...
  • Despite recession, Indian FDI sees 45 pc growth February 16, 2009

    New Delhi: Notwithstanding the global financial crisis, India recorded a 45 per cent growth in Foreign Direct Investment by receiving US $23.3 bn between April and December 2008 over the same period in the previous year. Even during the fiscal 2007-08, India's FDI was a record US $32.4 bn, Finance Minister...
  • Interim Budget 2009-2010: Pranab's full speech February 16, 2009

    The Speech of Minister of Finance, Pranab Mukherjee. Mr. Speaker, Sir, I rise to present the Interim Budget for 2009-10. 2. Five years ago the people of India had voted for change. In the words of our Prime Minister, Dr. Manmohan Singh, people had sought “a change in the manner in which...
  • Budget fails to address recession: opposition parties February 16, 2009

    New Delhi: The interim budget presented by External Affairs Minister Pranab Mukherjee had failed to address the economic recession, most opposition parties, including the Bharatiya Janata Party (BJP) and the Left, said on Monday. Communist Party of India-Marxist (CPI-M) leader Basudeb Acharya said the budget did not address the key issues...
  • Fiscal deficit to rise to 5.5% on higher spending February 16, 2009

    New Delhi: The government's efforts to stimulate the economy will cloud its finances, with fiscal deficit projected to widen to 5.5 per cent of the Gross Domestic Product next fiscal - a development that would entail greater reliance on market borrowings. Fiscal deficit, a measure that tells if the government is...
  • Interim Budget: New pension schemes for widows, disabled February 16, 2009

    New Delhi: The government Monday announced two new pension schemes for widows and physically disabled in the interim budget 2009-10. The Indira Gandhi National Widow Pension Scheme will provide a pension of Rs.200 to widows in the age group of 40-64, while the Indira Gandhi National Disability Pension Scheme aims to...
  • Interim Budget disappointing: Kerala minister February 16, 2009

    Thiruvananthapuram: The first reactions from Kerala to the Interim Budget presented in Parliament on Monday by Minister for External Affairs Pranab Mukherjee have been those of disappointment. Mukherjee, presenting the Interim Budget on behalf of Prime Minister Manmohan Singh who is recovering from heart bypass surgery, said additional steps would have...
  • Interim Budget pushes UPA agenda, no tax cuts February 16, 2009

    New Delhi: Refraining from tinkering with tax and duty rates in the Interim Budget, External Affairs Minister Pranab Mukherjee, who is at present also looks after the Finance Ministry, on Monday made a huge allocation of Rs 30,100 crore to Government's flagship rural employment programme and many other schemes in...
  • Rs 1,31,317 cr allocated for Govt's flagship programmes February 16, 2009

    New Delhi: An allocation of Rs 1,31,317 crore has been made in the Interim Budget 2009-10 for the flagship programmes which directly impact the aam aadmi. Finance Minister Pranab Mukherjee said an allocation of Rs 30,100 crore has been made to the National Rural Employment Guarantee Scheme in 2009-10. The Scheme has...
  • Pranab hikes Defence Budget by 35 per cent February 16, 2009

    New Delhi: Considering the changed security scenario in view of the Mumbai terror attacks, the Government on Monday allocated Rs 1,41,703 crore for defence sector, almost a 35 per cent increase from the previous year's Budget provisions. Last year's allocation for defence stood at Rs 1,05,600 crore and the current increase...
  • Not surprised by plain-vanilla Budget: India Inc February 16, 2009

    Mumbai: Reactions quickly started pouring in from India Inc as Pranab Mukherjee finished his Interim Budget speech and its lack of any major sops or changes and not surprisingly the unanimous reaction was: we’re not surprised. “I was not expecting much from this,” said Sajjan Jindal of JSW Steel, referring...
  • Status quo on tax rates in Interim Budget February 16, 2009

    New Delhi: With no changes in tax rates but higher spending toward social sector projects, Minister for External Affairs Pranab Mukherjee on Monday tabled a Rs 952,231 crore Interim Budget for 2009-10 that chose to give fiscal prudence a miss during "extraordinary economic circumstances". Presenting the Interim Budget on behalf of...
  • Budget 2009 reactions: Congress | Opposition parties February 16, 2009

    New Delhi: External Affairs Minister Pranab Mukherjee did not present a populist budget as the United Progressive Alliance (UPA) government had done a "tremendous job" and does not need to play to the gallery, the ruling Congress maintained on Monday. Mukherjee observed "constitutional propriety" while presenting the interim budget, Congress spokesperson...
  • Budget speech disrupted as MP takes ill February 16, 2009

    New Delhi: The presentation of the Interim General Budget for 2009-10 was on Monday interrupted briefly as the Lok Sabha adjourned after JD(S) member M P Veerendra Kumar complained of uneasiness. Speaker Somnath Chatterjee adjourned the House for ten minutes till 12 noon after asking External Affairs Minister Pranab Mukherjee to...
  • UPA's poll Budget focuses on rural economy February 16, 2009

    New Delh:- The government paraded its economic achievements on Monday and promised help for the rural sector as it tried to shield the economy from a global credit crunch and stem job losses with elections just weeks away. Acting Finance Minister Pranab Mukherjee began charting spending plans for the 2009/10...