Parties draft popular actors and cricketers - National News Updates
Supreme Court reschedules RCA election by a week on March 1 - National News Updates
Election Commission bans exit, opinion polls
Election Commission bans exit, opinion polls
Election Commission bans exit, opinion polls
Highlights of the India Interim Budget 2009
–> Sustained growth at over 9 Percent in last 4 years
–> Per capita income grew 7.4 Percent during UPA regime
–> Gross domestic savings rate at 37.7 Percent , gross capital formation at 14.2 Percent
–> Tax–> GDP ratio at 12.5 Percent in 2007–> 08, close to fiscal correction target
–> Domestic investment rate over 39 Percent in FY08
–> Growth drivers –> agriculture, services, manufacturing, construction
–> Outlook for food grain production encouraging for coming year
–> Exports grew at annual average rate of 26.4 Percent during last 4 years
–> December industrial growth fell 2 Percent (YoY)
–> GDP growth of 7.1 Percent makes India the secondfastest growing economy
–> Have taken steps to encourage private investments in infrastructure via PPP
–> Approved 37 infrastructure projects worth Rs 70,000 crore between August 08-January 09
–> 54 central infrastructure projects of Rs 67700 crore sent for final nod to PPP panel
–> Initiative for providing refinance to banks for long term credit to project
–> IIFCL to raise Rs 10000 crore, has approval for an additional Rs 30000 crore
–> IIFCL to refinance 60 Percent of their projects
–> Extension of export credit for labour intensive exports
–> FDI inflow at USD 23.3 billion during April-November 2008
–> Attention given to agriculture sector, plan allocation up 300 Percent in 4 years
–> Government implementing revival agriculture package in 25 states worth Rs 13500 crore
–> Government will continue to provide interest subvention for agriculture in FY10
–> Farm debt waiver of Rs 65,300 crores covering 36 million homes
–> Government to provide interest subsidy to farmers in FY10
–> Outlay on higher education up 900 Percent in 11th 5 year plan
–> Annual ad hoc grants have been increased by 50 Percent (YoY)
–> FY09 revised estimates of spending at Rs 9 lakh crore vs Rs 7.5 lakh crore
–> FY09 plan expenditure revised to Rs 2.8 lakh crore from Rs 2.4 lakh crore
–> Government revises FY09 fertiliser subsidy to Rs 44863 crore
–> FY09 food subsidy revised to Rs 10960 crore
–> FY09 fiscal deficit seen at 6 Percent of GDP versus estimate of 2.5 Percent
–> FY09 revenue deficit at 4.4 Percent of GDP versus estimate of 1 Percent
–> FY10 spending seen at Rs 9.53 lakh crore
–> FY10 budgetary support seen at Rs 2.85 lakh crore
–> Rural jobs scheme to get Rs 30100 crore in FY10
–> JNNURM spending seen at Rs 11842 crore for FY10
–> Allocation of Rs 40900 crore for Bharat Nirman Scheme
–> Interest subvention for some export loans extended
–> Additional plan expenditure has to increase by 0.5–> 1 Percent post polls
–> FY10 non–> plan spend est at Rs 6.68 lakh crore
–> Major subsidy spending for FY10 seen at Rs 95,500 crore
–> FY10 budget revenue deficit seen at 4 Percent , fiscal deficit at 5.5 Percent
–> FY10 gross tax revenue seen at Rs 6.71 lk crore
–> Allocation of Rs 8,000 crore for mid–> day meal scheme
–> Rs 13,100 crore allocated for elementary education
–> FY10 gross market borrowing seen at Rs 3.2–> 3.3 lakh cr
–> No tax changes in interim budget
Indian Railway budget highlights
* Fares reduced by Re 1 for ordinary trains travel costing up to Rs 50 per ticket for journey above 10 km.
* Second class and sleeper class fares cut by two per cent for tickets costing Rs 50 and more.
* A/C First Class, II and III tiers and A/C Chair Car fares cut by two per cent.
* As many as 43 new trains to be started in 2009-10.
* Frequencies of 14 trains to be increased and another 14 to be extended.
* Plan outlay kept at Rs 37,905 crore.
* Gross traffic receipts estimated at Rs 93,159 crore, an increase of Rs 10,766 crore from last fiscal.
* Passenger traffic estimated to grow by 7 per cent.
* Freight loading targeted at 910 MT, up by 60 MT from last year.
* 25 surveys proposed comprising 14 new lines, of which three for gauge conversion and eight for doubling projects.
* Pre-feasibility study for bullet trains being pursued at 6 stretches, including Delhi-Amritsar and Delhi-Patna.
* Dividend payable to general revenues kept at Rs 5,304 crore for 2009-10.
* Ordinary working expenses budgeted at Rs 62,900 crore to cover the full year impact of 6th Central Pay Commission.
* Work on diesel and electric locomotive factories at Marhoura and Madhepura targeted for early start.
* Construction of rail wheel factory at Chapra on.
* Bharat Wagon Ltd, Mokama and Muzaffarpur transfered to the Railways Ministry.
* Transfer of wagon units of Burn Standard at Burnpurand Howrah to Railways Ministry is also under consideration.
* Number of accidents came down to 194 in 2007-08.
* For the fiscal 2008-09, plan outlay revised at Rs 36,773 crore.
* Implementation of 6th CPC likely to cost Rs 9,000 crore more on staff cost and Rs 4,500 crore on pension in 2008-09.
* Freight loading target retained at 850 MT, passenger growth estimated at 7 per cent for 2008-09.
* Dividend payable to general revenues for 2008-09 kept at Rs 4,711 crore.
* Cash surplus before dividend for 2008-09 projected at Rs 19,320 crore.
* Ordinary working expenses raised to Rs 55,000 crore and appropriation to pension fund to Rs 10,500 crore in 2008-09.
Lok Sabha polls between April-May: Election Commission
After delivering a lecture on 'J&K Elections 2008', at the India House last evening, Quraishi said, "We, in the Election Commission, have not yet discussed the final dates, but it will be held between April 8 and May 15”.
The Indian High Commissioner to the UK, Shiv Shanker Mukherjee, was present on the occasion.
"The Indian election commission has the highest credibility," he asserted.
General election in India is the largest electoral exercise in the world involving 671 million voters.
Answering a question, he said the State Assembly Elections in Jammu and Kashmir were not linked to the Kashmir problem. "It (the dispute) should be resolved through negotiations," he said.
Quraishi said "our experience is that while the party in power is almost invariably unhappy with us, the opposition parties love us. But once the opposition party becomes the ruling party the roles get reversed."
He said both the ruling and the opposition parties realise, especially when they are no longer in power, how much they stand to benefit from EC's interventions.
Terrorist Attacks - What analysts have to Say.
Historic election leads to historic newspaper selloff
The New York Times is printing an extra 50,000 copies of today’s paper for the local market after completely selling out, according to spokeswoman Catherine Mathis. (See the Romenesko journalism blog for more details about heavy press runs at other U.S. newspapers.)
Here’s more from Mathis:
We increased our print run for single copy by about 35% but know first hand that some vending machines and newsstands are selling out. … In 2004 we saw an increase in sales of around 50,000 copies the day after the election and based on what we’ve seen today, we expect to significantly surpass those sales. We also plan to increase our print run for single copy sales tomorrow, although not as much as today.
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/05/AR2008110502795.html?hpid=topnews