Borrowing at 29 paise will account for the largest share of every rupee that the government will use for financing the Union Budget 2010-11, while will it spend the most — 21 paise — on central plan.
Reflecting the improved finances, the dependence on debt has come down from 34 paisa in the previous budget to 29 now, as per the proposals presented by Finance Minister Pranab Mukherjee in Parliament.
The government on Friday proposed a one-time grant of Rs 200 crore for setting up effluent treatment plant at the Tirupur textiles cluster.
“I propose to provide a one-time grant of Rs 200 crore to the government of Tamil Nadu towards the cost of installation of a zero degree discharge system at Tirupur to sustain this industry which provides livelihood to lakhs of persons without undermining the environment,” Finance Minister said.
Government today proposed a nearly 16-fold increase, at Rs 1,900 crore, for Unique Identification Authority of India (UIDAI), headed by Infosys founder Nandan Nilekani.
While in the last budget the allocation for UIDAI was Rs 120 crore, Finance Minister Pranab Mukherjee, in his budget speech today, proposed Rs 1,900 crore to it.
The 2010-11 Union Budget today provided considerable relief to income taxpayers by raising the slabs at two levels but, hiked the central excise duty on non-petroleum products across the board from 8 to 10 per cent.
The entire opposition walked out of the Lok Sabha during the presentation of Budget by Finance Minister Pranab Mukherjee, dubbing it “highly inflationary”.
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