Impact Of Budget On Five Major Sctors
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www.kgandhi.anindia.com Effect of Budget on Five Major Sectors The following are the key quotes of the budget 2009-10 presented by Finance Minister Pranab Mukherjee. Major announcements that may affect different sectors have given below. We have considered five major sectors such as; Infrastructure Power Agriculture Health Education
Infrastructure •
IIFCL to refinance 60 per cent of commercial bank loans for PPP projects in critical sectors over the next fifteen to eighteen months. IIFCL and Banks are now in a position to support projects involving total investment of Rs 100,000 crore (US$ 20.61 billion).
•
Allocation to National Highways Authority of India (NHAI) for the National Highway Development Programme (NHDP) increased by 23 per cent over B.E. 2008-09 in B.E. 2009-10 and allocation for Railways increased from Rs 10,800 crore (US$ 2.23 billion) in Interim B.E. 2009-10 to Rs 15,800 crore (US$ 3.27 billion) in B.E. 2009-10.
•
Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) stepped up by 87 per cent to Rs 12,887 crore (US$ 2.65 billion) in B.E. 2009-10 over B.E. 2008-09.
Power •
Allocation under Accelerated Power Development and Reform Programme (APDRP) increased by 160 per cent to Rs 2,080 crore (US$ 429 million) in B.E. 2009-10 over B.E. 2008-09.
•
Blueprint to be developed for long distance gas pipelines leading to a National Gas Grid to facilitate transportation of gas across the length and breadth of the country.
www.kgandhi.anindia.com •
Agriculture •
Target for agriculture credit flow set at Rs 325,000 crore (US$ 67.14 billion) for the year 2009-10. In 2008-09 agriculture credit flow was at Rs 287,000 crore (US$ 59.3 billion).
•
Adjustment assistance scheme to provide enhanced Export Credit and Guarantee Corporation (ECGC) cover at 95 per cent to badly hit sectors extended upto March 2010.
Health •
Allocation under National Rural Health Mission (NRHM) increased by Rs 2,057 crore (US$ 424.3 million) over Interim B.E. 2009-10 of Rs 12,070 crore (US$ 2.49 billion).
Education •
•
Rs 2,113 crore (US$ 436.32 million) allocated for IITs and NITs which includes a provision of Rs 450 crore (US$ 92.91 million) for new IITs and NITs. The overall Plan budget for higher education is to be increased by Rs 2,000 crore (US$ 412.86 million) over Interim B.E. 2009-10.
For Further Details kindly Contect : Thanks and Regards, Kirang Gandhi Corporate Financial Planner www.kgandhi.anindia.com m-9271267305
Infrastructure •
IIFCL to refinance 60 per cent of commercial bank loans for PPP projects in critical sectors over the next fifteen to eighteen months. IIFCL and Banks are now in a position to support projects involving total investment of Rs 100,000 crore (US$ 20.61 billion).
•
Allocation to National Highways Authority of India (NHAI) for the National Highway Development Programme (NHDP) increased by 23 per cent over B.E. 2008-09 in B.E. 2009-10 and allocation for Railways increased from Rs 10,800 crore (US$ 2.23 billion) in Interim B.E. 2009-10 to Rs 15,800 crore (US$ 3.27 billion) in B.E. 2009-10.
•
Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) stepped up by 87 per cent to Rs 12,887 crore (US$ 2.65 billion) in B.E. 2009-10 over B.E. 2008-09.
Power •
Allocation under Accelerated Power Development and Reform Programme (APDRP) increased by 160 per cent to Rs 2,080 crore (US$ 429 million) in B.E. 2009-10 over B.E. 2008-09.
•
Blueprint to be developed for long distance gas pipelines leading to a National Gas Grid to facilitate transportation of gas across the length and breadth of the country.
www.kgandhi.anindia.com •
Agriculture •
Target for agriculture credit flow set at Rs 325,000 crore (US$ 67.14 billion) for the year 2009-10. In 2008-09 agriculture credit flow was at Rs 287,000 crore (US$ 59.3 billion).
•
Adjustment assistance scheme to provide enhanced Export Credit and Guarantee Corporation (ECGC) cover at 95 per cent to badly hit sectors extended upto March 2010.
Health •
Allocation under National Rural Health Mission (NRHM) increased by Rs 2,057 crore (US$ 424.3 million) over Interim B.E. 2009-10 of Rs 12,070 crore (US$ 2.49 billion).
Education •
•
Rs 2,113 crore (US$ 436.32 million) allocated for IITs and NITs which includes a provision of Rs 450 crore (US$ 92.91 million) for new IITs and NITs. The overall Plan budget for higher education is to be increased by Rs 2,000 crore (US$ 412.86 million) over Interim B.E. 2009-10.
For Further Details kindly Contect : Thanks and Regards, Kirang Gandhi Corporate Financial Planner www.kgandhi.anindia.com m-9271267305
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