What's in store in the Interim Budget?

Minister for External Affairs Pranab Mukherjee in the Lok Sabha has presented the Interim Budget 2009-10 in Lok Sabha today. While presenting the budget the Minister said India remains second-fastest growing economy in the world despite the global meltdown. Pranab presented the 6th Budget of UPA govt on vote of account, which was passed in the Lok Sabha. India's economy has slipped from a growth rate of about nine per cent in the past three years, but still looks healthy compared with most developed economies, many of which are in recession.

Here are the highlights of the Interim Budget 2009-10:
- Govt. focused on farms, jobs, fiscal devolution
-Govt spent Rs.70,000 crore on 37 infrastructure projects in 2008-09
-Govt may consider additional fiscal measures in budget
-Government will need to return to deficit targets after revival
-Govt to expand employment generation schemes
-Economy grew at 9% for three straight years
-Per capital income growth at 7.4% per annum for 4yrs

-Investment as percentage of GDP rose to 39% in 2007-08 from 27.6%
-Gross domestic savings rate at 37.7% during 2007-08
-Foreign trade at 35.5% of GDP during 2007-08
-Forecasts indicate 2009 may be worse than 2008
-Refinance to banks for long term credit to infra projects
-IIFCL to refinance 60% of commercial bank loans for PPP
-FRBM targets relaxed to boost consumption demand
-Mukherjee: Steps to bring back 9% growth needed at earliest
-Mukherjee: Growth rate of exports down to 17.1% in 9 months
-Mukherjee: Need to accelerate pace of policy reforms
-Plan allocation for agriculture increased by 300% in 08-09
-India got record $32.4bn FDI in FY'08
-Defence Allocation hiked to 141,703 crore, linking it to 26/11 Mumbai terror attacks