Union Budget 2009 Live says Farmers and poor were a priority and not the markets.
The markets expected too much and that is the reason why it slipped down sharply today. The market expected announcements on PSU disinvestment, fuel policy and major FDI policies. There was no word on any of these. Pranab Mukherjee stated that the Union Budget cannot be the only instrument to bring about a change. He has presented us with a very broad roadmap and that is what the market did not like, it wanted more specific measures.
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- Here is railway budget 09 highlights.
The strong message which this Budget also sends home is that rural India is where all the growth will happen. So companies aiming to grow big, have to necessarily go rural. Thats the only key to success.
The bright side to this Budget – this is a great buying opportunity. For all those who felt that they had missed the bus earlier, this is maybe the right time. think about it.
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AND THE MONEY GOES TO……
Bharat Nirman allocation stepped up by
Rajiv Gandhi Vidyutikaran Yojana allocation hiked to Rs.7000 crore
Rs.430 crore for police modernization
Modernisation of national employment exchanges
Rs.450 crore for setting up new IITs
Indira Awas Yojana allocation up by 63%
NREGA outlay hiked by 144%; provided work to 4 crore people
Food Security to provide rice, wheat at Rs.3 per kg
Greater flexibility to IIFCL, refinance 60% of commercial banks loans for PPP projects
NHAI allocation raised by 23%
JNNURM allocation stepped up by 87%
Full interest subsidy for education loan
Farmer loan waiver period extended by 6 months
Allocation to Common Wealth up at Rs.3472 crore
Mumbai Storm Water Drain project allocation hiked by Rs.500 crore
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