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Showing posts from July 5, 2009

Budget highlights

TOWARDS ECONOMIC REVIVAL

Short-term Measures
! To counter the negative fallout of the global slowdown on the Indian economy,Government responded by providing three focused fiscal stimulus packages in the
form of tax relief and increased expenditure on public projects along with RBI
taking a number of monetary easing and liquidity enhancing measures.
! Fiscal accommodation led to an increase in fiscal deficit from 2.7 per cent in
2007-08 to 6.2 per cent of GDP in 2008-09.
! The fiscal stimulus at 3.5 per cent of GDP at current market prices for 2008-09
amounts to Rs.1,86,000 crore.
! Measures taken by the Government were effective in arresting the fall in GDP
growth rate in 2008-09. 6.7 per cent growth rate recorded in 2008-09.
Infrastructure Development
! IIFCL to evolve a Takeout financing scheme in consultation with banks to facilitate
incremental lending to infrastructure sector.
3! IIFCL to refinance 60 per cent of commercial bank loans for PPP projects in critical
sectors over the next fifteen …