Opposition parties on Monday slammed the government for ignoring the interests of farmers and said funds allocated in the General Budget for agriculture ministry were not sufficient.
The Finance Minister is assisted by a team of high profile bureaucrats who work overtime with mind boggling figures to make a balanced Budget.
In his Budget speech, Finance Minister Pranab Mukherjee announced that the government is committed to the universalisation of the Integrated Child Development Services scheme in the country. Expressing grave concern at the low level of female literacy in the country, Mukherjee said the aim of the National Mission for Female Literacy would be to reduce the current level of female illiteracy by half in three years.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
The Budget Session of Parliament will commence on February 22 and the General Budget for 2010-11 will be presented on February 26.
Prime Minister Manmohan Singh on Sunday approved the interim general budget which will be presented in the Lok Sabha by External Affairs Minister Pranab Mukherjee on Monday. Singh went through the interim budget related papers and after formally signing them, forwarded them to President Pratibha Patil, a Prime Minister's Office spokesman said."The Prime Minister also approved the interim budget speech," the spokesman added.
The move can help mop up about Rs 1.2 lakh every day for the purpose.
The NIA, which came into existence in February this year with the appointment of Radha Vinod Raju as its first director general, has to accomplish important tasks in next 100 days.
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
Modi said he was "full of confidence" ahead of his "exam", the Budget, by 125 crore people
Inflation, particularly of food items, too remained an area of concern, they said in the resumed discussion on the general Budget. Main Opposition BJP said the whopping Rs 4 lakh crore (Rs 4 trillion) gap in the resources was a matter of concern and the impact could be felt on inflation.
Given the debilitating effects of the economic slowdown on various industry sectors and indeed on the nation's GDP growth, the government would have been well within its right to push through a populist budget under the garb of not letting the country's economy drift till such time as a new government is put in place after the general elections.
The last session of the current Lok Sabha beginning on Thursday is expected to be stormy with political parties likely to extract the maximum mileage ahead of the general elections.
The government and the Opposition on Tuesday agreed on the passage of this year's General Budget and the Finance Bill without any discussion in Parliament in view of the impasse over National Democratic Aliiance's demand for removal of 'tainted' mini
Speaker Meira Kumar said in her valedictory address that the Lok Sabha lost over 23 hours and 34 minutes due to interruptions and forced adjournments, but it sat late for 30 hours and 52 minutes to transact important financial and other business.
The previous budget had allocated Rs 1,581 crore.
The increased plan allocation from the Centre is expected to help Delhi complete various projects related to next year's Commonwealth Games. The city got Rs 814 crore for projects under the Jawaharlal Nehru Urban Renewal Mission, while Rs 315.82 crore has been proposed for providing basic services to the urban poor. The total allocation also includes Rs 1,129.82 crore given to the city under urban infrastructure development for small and medium towns.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
The General Budget will be presented on July 6 and the Railway Budget will be presented on July 3.
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 Veerendrakumar complained of uneasiness.
The session spread over ten sittings is essentially for taking a vote on account on Railway and General Budgets but being the first one during the year, it will begin with the President's address on the opening day. An inkling of the shape of things to come was evident when the ruling Congress and main opposition BJP virtually kicked off their poll campaign on Sunday, taking on each other on issues like terrorism, unemployment and inflation.
The early tabling of the financial Budget ends a 70-year tradition.
"The Budget is in line with expectations. With the election year fast approaching, the Finance Minister has proposed a populist Budget aimed at using fiscal measures to boost growth and control inflation," said Anirudh Sarathy, analyst for StreetEdge Investments in San Ramon, California.
The IT and ITeS sectors expect a reduction in minimum alternate tax (MAT) and dividend distribution tax in the next month's Union Budget, a senior economist said on Tuesday.
The Budget process is a massive exercise. The exercise has different stages and each stage kicks off at a different stage of Budget making process.
The strike entered the 15th day on Wednesday.
Also on the anvil is abolition of distinction between Plan and non-Plan expenditure and replacing it with capital and revenue expenditure
Following the address by President Ram Nath Kovind, the economic survey will be tabled in the two Houses.
The Railway Budget will be presented on February 25 while the Union Budget will be presented on February 29.
FM announced no change in peak rate of customs duty for non-agriculture imports.
Armed with plans announced in the rail and general budgets, Maharashtra Chief Minister Vilasrao Deshmukh said on Friday the only mantra to make Mumbai a world- class city in next few years was to improve infrastructure.
Allocation for schemes only for SCs and STs to be increased to Rs 3,271 crore (Rs 32.71 billion).
The three-month long Budget session of Parliament will commence on February 23 and the general budget would be presented by Finance Minister P Chidambaram on February 28.
India's growth rate is not UPA/NDA issue, Arun Jaitley said.
First and business class air travellers would find flying costlier.
'Over a decade of modernisation has been eaten by the locusts because a bunch of politicians thought obstruction was a short-cut to the headlines.'
Finance Minister Arun Jaitley to present Union Budget on February 28.
The finance ministry seems to be at loggerheads with the Planning Commission on funding of at least 60 centrally sponsored schemes
The government on Friday announced that six AIIMS-type medical institutes would be set up in the country and nine more state government medical institutes upgraded to the world-class level.
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