labels: Economy - general
Interim Budget 2009: Defence budget hiked to Rs.141,703 crore news
16 February 2009

In the interim budget for 2009-10, the allocation for defence has been increased to Rs1,41,703 crore. The total revised expenditure for 2008-09 was Rs1,14,600 crore. The 11th Five-Year Plan expenditure will be to the tune of Rs86,879 crore against Rs73,600 crore and will include Rs.54,824 crore for capital expenditure as against Rs41,000 crore for 2008-09. The raise has been made to strengthen security in view of the recent terror attacks inn Mumbai.
 
Rural infrastructure fund created

The Interim budget for 2009-10 proposes a Rural Infrastructure Development Fund-XV (RIDF-XV) a corpus of Rs.14,000 crore, and continuation of the separate window for rural roads with a corpus of Rs.4,000 crore. This is to ensure continuity in financing of rural infrastructure projects, said acting finance minister Mukherjee..

Interest subvention of two per cent on pre- and post-shipment credit for certain employment oriented sectors like textiles (including handlooms and handicrafts), carpets, leather, gems and jewellery, marine products and SMEs has been extended till 30 September 2009 from 31 March 2009. This is expected to involve an additional financial outgo of Rs.500 crore during the financial year 2009-10.

A provision of Rs.100 crore has been made for 2009-10 for the setting up of a 'Unique Identification Authority of India'. Under the aegis of Planning Commission, it will put in place a comprehensive system of identity for resident Indians.


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Interim Budget 2009: Defence budget hiked to Rs.141,703 crore