Interim Budget

Economy
India remains and stands as the second-fastest growing country in terms of economy in the world Economy with an expected growth of 7.1 percent this fiscal year

Strengthening of Country's social security

Attraction of record high FDI foreign direct investment of $32.4 billion

Global economy condition not satisfying

Extraordinary situation merits extraordinary measures

Need to consider additional fiscal measures in regular budget

Government spent Rs.70,000 (Rs.700 billion) crore on 37 infrastructure projects in 2008-09

Under public-private partnership (PPP), 54 central infrastructure projects approved

Total expenditure of PPP projects estimated at Rs.67,700 crore (Rs.677 billion)

Infrastructure

India Infrastructure Finance Company to raise Rs.10,000 crore (Rs.100 billion) by end-March

India has weathered inflation crisis, but no room for complacency

Corpus of Rural Infrastructure Development Fund has been increased to Rs.14,000 crore (Rs.140 billion) from Rs.5,500 crore (Rs.55 billion) and the layout for higher education zoomed to 900 percent for 11th Five Year Plan

Agriculture

Country's agriculture outlook is encouraging

Highly focussed attention towards agriculture

Plan allocated for farm sector zoomed to 300 percent in past five years

Tri-fold increase in a short-term agriculture credit to Rs.250,000 crore (Rs.2,500 billion)

Crucial Farm debt worth Rs.65,300 crore (Rs.653 billion) has been waived.

Government will continue to provide additional subsidy to farmers

Agriculture grew by 3.7 percent per annum

Finance

Financial sector reforms need to be accelerated

In past three years, India grew by average of over 9 percent

Per capita income expanded by 4.7 percent per annum

Fiscal deficit was brought down from 4.5 percent to 2.7 percent

Revenue deficit was cut from 3.6 percent to 1.1 percent

Exports increased 26.4 percent per annum

Foreign trade increased from 27.3 percent to 35.5 percent

Tax to gross domestic product ratio expanded by 9.2 to 12.5 percent

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