General Budget 2009-10 Live Updates

Finance Minister Pranab Mukherjee will present the General Budget for 2009-10 in the Lok Sabha on Monday at 11.00 A.M. This will be the first general budget of the UPA government's second term. This will be Pranab Mukherjee's fourth Budget. He had presented three earlier Budgets as finance minister in the Indira Gandhi government. But this would perhaps be his toughest job as he has to fight recessionary pressures and at the same time meet the fiscal deficit reduction targets.

Mukherjee has already stated that the focus of the government would be on aam aadmi with more employment generation schemes on the anvil.

General Budget 2009-10 Highlights LIVE
1. Total budget expenditure for 2009-10 will Rs 10,28,032 cr
2. Modernisation of national employment exchanges
3. Higher public investment in infrastructure
4. Rs 1,000 cr for Aila rehabilitation programme
5. Rs 25 cr each for AMU campuses in Murshidabad and Mallapuram
6. Rs 2,113 cr for IITs and NITs
7. Pension of non-commissioned officers to be hiked
8. Commonwealth allocation hiked to Rs 16,300 cr
9. Allocation of Rs 50 cr to Chandigarh University
10. Government to hike allocation to National Ganga Project to Rs 562 cr
11. One rank, one pension for ex-servicemen from
12. Unique Identification ID project to tap private talent
13. Hike in IT exemption for women to Rs 1,90,000 and to Rs 2,40,000 for senior citizens
14. Anonymous funds to charitable bodies to get some tax relief
15. Commodities Transaction Tax to be scrapped
16. Small businesses exempt from advance tax
17. Custom duty on LCD panels halved
18. Tax holiday extended for textile units
19. Customs duty on gold and silver import increased (ANI)