Interim budget presented by Pranab Mukherjee
February 16, 2009

The interim budget is finally out and the stress is on help for rural sector and curtailing job cuts. The farmers are again going to benefit from this budget with subsidized interest rate for debt hit farmer. Two stimulus packages were already announced and the government has now made it public to borrow Rs 460 billion to fund the stimulus package. The growth is anticipates to fall from 9% to 7.1% this fiscal year due to the economic meltdown the world is facing. The health, education and rural sectors will benefit through this budget, it is stated.

Pranab Mukherjee

There are no tax changes in this budget. The terror attacks have given a new dimension to the budget this year, with Rs. 1,40,703 cr allotted for defense sector. The subsidies on food, petroleum and fertilizer are to be increased. The mid day scheme will get Rs. 8,300 cr. Sanitation program to get Rs.1,200 cr.
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