Highlights of Union Budget 2010-11 (Part-I) - India News and Travel Times Provides India-centric and other News and Features

Union Finance Minister Pranab Minister on Friday presented the Union Budget 2010-11 in the Parliament. Highlights of Union Budget 2010-11 are as follows: ·First challenge before Government is to quickly revert to high GDP growth path of nine per cent ·Second challenge is to harness economic growth to make it more inclusive and consolidate gains. ·Impressive recovery in the past few months can witness faster recovery in the coming months ·To strengthen food security. ·Focus shifted to non-governmental actors. Government to concentrate on supporting and delivering services to the economically backward sections ·Growth rate in manufacturing was 18.5 per cent ·Economy stabilised in Q1 of 2009 ·Development needs to be more inclusive ·Challenge is to return to high GDP ·Government to consult with CMs to bring down inflation ·Income tax reforms nearly complete ·Earnest endeavour to implement General Sales Tax in April 2011 ·Disinvestment target: Rs 25,000 crore this year ·Government hopes to implement direct tax code from April 2011 ·Fertiliser subsidy to be reduced ·To discuss Kirit Parikh report in due course ·Status paper on public debt within six months ·Rs 16,500 crore capital support for PSU banks.