Union Finance Minister P Chidambaram presented his fifth Budget in Parliament on Friday.
Chidambaram said keeping inflation under check is one of the cornerstones of the government's policy.
GDP growth, he said, has slowed to 8.4 per cent during the quarter ended December 31, 2007 as compared to 9.1 per cent a year ago.
However, the economy grew over eight per cent over 12 successive quarters since 2005, the FM added.
Following are the highlights of the Union Budget 2008-09.
FM announces chnages in income tax slabs. More...
He also waived farmers' loans. More...
Growth rate of agricultre extimated at 2.6 per cent during the current year.
Services and manufacturing sectors expected to grow by 10.7 per cent and 9.4 per cent, says Chidambaram.
Eleventh Plan started on a robust growth.
Gross budgetary support to be raised to Rs 2,43,386 crore, an increase of more than Rs 38,000 crore from the current level.
Allocation for Bharat Nirman to be raised to Rs 31,280 crore.
Image: Finance Minister P Chidambaram.
Photograph: Tauseef Mustafa/AFP/Getty Images
Also read: Union Budget 2008-09: Complete coverage 
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