indian union budget 2007

Union Budget 2007 Highlights

Rs 63 crore for share capital for National Minorities Development Finance Corporation following Sachar Committee recommendations.
Allocation for SC/ST scholarships enhanced from Rs 440 crore to Rs.611 crore.
Scholarships programme for minorities students to be of the order of Rs 72 crore for pre-metric, Rs 48 crore for graduate and postgraduate.
Total Budget for the Northeastern region raised from Rs 12,041 crore to Rs 14,365 crore.
New Industrial Policy for the northeastern region to be in place before March 31.
Women’s development allocation will be Rs.22,282 crore.

Rs 7,000 crore allocation for better tax administration to be used for social schemes.
Rs 2,25,000 crore farm credit proposed in the new budget. A target of additional 50 lakh farmers to be brought under farm credit.
Farmers’ credit likely to reach Rs.1,90,000 crore as against the targeted Rs.1,75,000 crore during 2006-07.
Special Purpose Tea Fund to rejuvenate tea production. (more) PTI ARC RKC 02281127 DEL Rs. 100 crore allocated for National Rainfed Area Authority.
One hundred per cent subsidy for small farmers and 50 per cent for other farmers for water recharging scheme.
World Bank signed agreement for revival of 5,763 waterbodies in Tamil Nadu. Loan component Rs 2,182 crore. To have a command area of four lakh hectares.
Similar agreement with Andhra Pradesh in March for recharge of 2,000 bodies. Command area 2.5 lakh hectares.
National Agricultural Insurance Scheme to be continued for Kharif and Rabi this year.
Bonds worth Rs 5,000 crore to augment NABARD to be issued.
Death and disability cover for rural landless families to be introduced, known as ‘Aam Aadmi Bima Yojana’.
Allocation for schemes only for SCs and STs to be increased to Rs 3271 crore.
Computerisation of PDS and integrated computerisation programme for FCI.
Gross budgetary support in 2007-08 raised to Rs 2,05,100 crore from 1,72,728 crore in 2006-07. Of this, budgetary support to the Central plan will go up to 1,54,939 crore against 1,72,728 crore.
Allocation for AIDS control programme to be raised to Rs 969 crore.
School dropout rates high. To prevent dropout, a National Means-cum-Merit scholarship to be implemented, with an allocation of Rs 6,000 per child.
Rs 1290 crore to be provided for elimination of polio. Intensive coverage will be undertaken in 20 districts in UP and 10 districts in Bihar. This will be integrated into NRHM.
Rs 800 crore for Sampoorna Gram Rozgar Yojana in districts not covered by NREGA. Swarna Jayanti Swarozgar Yojana allocation increased from Rs 250 crore to Rs 344 crore.
National AIDS Control Programme to achieve zero level disease.
Measures for significant improvement of health care in rural area.
Allocation for ICDS programme to be increased from Rs 4087 crore to Rs 4761 crore.
130 more districts under NREGA. Additional allocation of Rs.12,000 crore for it.
Government concerned over inflation and would take all steps for moderating it.
Already a number of steps on fiscal, monetary and supply management side have been taken.
Annual target of 15 lakh houses under Bharat Nirmal Programme to be exceeded.
Allocation for National Rural Health Mission stepped up from Rs 8207 crore to Rs 9947 crore.
9.2 per cent GDP growth rate estimated in 2006-07.
Average growth for last three years is 8.6 per cent.
Saving rate of 32.4 per cent, investment rate of 33.8 per cent will continue.
A number of proposals to perk up agriculture to be announced.
Bank credit rate grew by 29 per cent during first ten months of 2006-07.
Inflation during 2006-07 estimated at between 5.2 and 5.4 per cent against 4.4 per cent during the previous year.
Fertilizer, farm and food subsidy to be overhauled
Primary education outlay at Rs 10393 cr
No new forward contract to be launched on wheat and rice from today.
Abhijit Sen report on forward trading to be submitted in two months’ time.
Additional irrigation potential of 24 lakh hectares to be implemented, including nine lakh hectares under Accelerated Irrigation Benefit Programme.
Economy in a stronger position than ever before.
Villages have been covered under rural telephony and efforts to be made to complete the target of covering 20,000 villages by 2006-07.
Allocation on Healthcare to increase by 21.9 per cent
Allocattion for education to be enhanced by 34.2 per cent.
Two lakh more teachers to be employed and five lakh more classrooms to be constructed.
Secondary education allowance to be increased from Rs 1,837 crore to Rs.3,794 crore.
Government committed to fiscal reforms.
Foreign exchange reserves stand at 180 billion dollars.
Allocation under Rajiv Gandhi Drinking Mission stepped up from Rs 4680 crore to Rs 5850 crore.
Government concerned over inflation and would take all steps for moderating it.
Already a number of steps on fiscal, monetary and supply management side have been taken.
Annual target of 15 lakh houses under Bharat Nirmal Programme to be exceeded.
Allocation for National Rural Health Mission stepped up from Rs 8207 crore to Rs 9947 crore.