Expectations are running high for the Budget 2010 to do many things -- maintain growth, provide employment, reduce fiscal deficit, take steps to shift to the new Direct Taxes Code, take measures to implement Goods and Services Tax, reduce inflation and increase revenue for the government.
Because of global economic meltdown and stimulus packages provided to industry.
Finance Minster Pranab Mukherjee in his Budget Speech in Parliament on Friday proposed to increase the Plan outlay for the Ministry of New and Renewable Energy by 61% from Rs 620 crore in 2009-10 to Rs 1000 crore in 2010-11.
Excise duty was cut by six per cent in two phases since December 2008 from a peak of 14 per cent earlier to perk up the economy, which came under the impact of deepening financial crisis.
The United Nations has an observer team in Kashmir, which keeps the world body informed of the developments there, he added.
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