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Highlights of Union Budget 2006

TimePublished on Thu, Jan 31, 2008 at 13:20, Updated at Fri, Feb 01, 2008 in section


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Budget 2007-08: Highlights

The Government is concerned about inflation but it is confident that it will not affect growth, said Chidambaram while presenting the Union Budget.

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  • 82 power projects under construction
  • 4 new hotel management institutes in Chattisgargh, Haryana, Jharkhand and Uttaranchal.
  • Five ultra-mega power projects before Dec 2006
  • Rs 597 cr for non-conventional resources
  • Tourism plan spending at 830 cr
  • National Highway Authority of India to be restructured
  • 2 pc of the borrowers' interest liability up to Rs 1 lakh principal of crop loans taken for kharif and rabi this year is to be reimbursed to farmers before March 31 this year
  • Allocation for Rural Infrastructure Development Fund has been stepped up to Rs 10,000 crore in 2006/07
  • Textile upgradation fund allocation to be raised to Rs 55 crore
  • 12 textile industry parks to be set up
  • An allocation of Rs 189 crore provided for this
  • A National Jute Board to be set up
  • Like woolmark, there will be a handloom mark to certify quality
  • A window to be created for equity participation and viability gap funding for the growth of sunrise IT sector
  • Tax rationalisation for jewelry and gems import
  • Food Processing Sector to be a priority sector for bank credit
  • 15 tourist areas to be developed
  • Services sector put on par with manufacturing sector
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