The budget presented by the Finance Minister Pranab Mukherjee has been named as a rural welfare budget. The Congress has tried to fulfill their poll promises despite global meltdown.

Highlights of the Budget 2009

The income tax exemption limit was raised up to Rs. 1.6 lakh per annum for men and Rs. 1.09 lakh per annum for women and for senior citizens it will be Rs. 2.4 lakh

Fringe Benefit Tax and Commodity Transaction Tax to be scrapped

25 kg rice and wheat at Rs. 3 per kg

Disinvestment program not touched

Gold, silver and textile to be costly

LCD and branded jewelry to cost less

A national electronic job exchange to be setup

Social sector scheme to get over Rs. 71,000 crores

Assured minimum income of Rs. 100 a day for rural jobs

The farmers debt waiver program to be extended for six months

Full deduction in donation to electoral trusts

IIMs and new IITs allotted Rs. 2113 crores

Defense budget rises by 34%

Set top boxes to cost more with 5% customs duty to be levied

Excise duty to be cut on petrol-driven trucks

Big cars to cost less

Extension of Stimulus package for print media

Sri Lankan Tamils rehabilitation program to get Rs. 500 crore

Rs. 50 crore for IGNOU

Rashtrapati Bhavan budget at Rs. 27.52 crore

An expert group to be formed to decontrol petro-fuel prices