Indian Union Budget 2009 Highlights

Indian finance minister Mr. Pranab Mukherjee presented the Union Budget for the year 2009-10. Presenting his first full budget after 25 years, Finance Minister Pranab Mukherjee raised the tax exemption limit for senior citizen from Rs 2,25,000 to Rs 2,40,000, for women from Rs 1,80,000 to Rs 1,90,000 while for all other Rs 1,50,000 to Rs 1,60,000.


Budget 2009: Highlights

* Govt plans to bring back economy to high growth of 9%
* GDP growth dipped to 6.7% in FY '09
* FM to make pre-budget talks with state FMs annual affair
* Fiscal deficit up from 2.7% to 6.8% of GDP
* Return to fiscal prudence at the earliest
* 'Aam aadmi' is focus of all programmes and schemes
* IT exemption limit raised; Rs 15,000 for senior citizens
* Commodity Transaction Tax abolished * New pension system trust exempted from STT DDT
* Minimum Alternate Tax hiked to 15% from 10%
* Tax holiday on petro sector extended to natural gas
* 100% tax deduction on political donation
* Stimulus for print media for another six months
* Fertiliser subsidy to be nutrient-based, not price
* Expert group to form viable pricing for imported petro goods
* Banks and insurance firms to remain in public sector
* Rs 100 cr one-time grant to expand banks in unbanked areas
* Govt committed to provide Rs 100 a day as wages under NREGA
* Allocation of Rs 39,100 cr to be made for NREGA
* NREGA coverage increased to 4


Sensex plunges nearly 650 pts in volatile trade: The Sensex tumbled 448.25 points at 14,464.80 at 1200 hrs with most of the heavy-weights recording losses.

Sector wise analysis shows Bankex was the worst bit followed by oil and gas and metal indices.

Similarly, the wide-based National Stock Exchange index Nifty tumbled 133.30 points at 4,290.95 at the same time.

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