Highlights of Union Budget 2010-11

The Indian Finance minister Pranab Mukherjee presented the Union budget for 2010-11 in the Lok Sabha today after the Cabinet approval of the document. the following are some of the key highlights of his budget speech.

* The Indian economy was facing grave uncertainty. Growth had started decelerating when the interim and full budget for 2009-10 were presented.
* At home there was added uncertainty because of subnormal southwest monsoon.
* Yet, the economy now in a far better position than it was
eight years ago.
* India weathered the economic crisis well and emerged from the global slowdown faster than any other country.
* First challenge before the government is to quickly revert to
high GDP growth path of 9%.
* Expects 10% economic growth in the near future.
* Second challenge is to harness economic growth to make it more inclusive and consolidate gains.
* Third challenge is to overcome weakness in government's public delivery mechanism; a long way to go in this.
* Impressive recovery in the past few months. Can witness
faster recovery in the coming months.
* Food security has been strengthened.
* But bottleneck of the public delivery mechanism can hold us back.
* Fiscal year 2009-10 was challenging for the economy.
* Focus shifted to non-governmental actors and an enabling government. Government now concentrates on supporting and delivering services to the poorer sections.
* Economy stabilised in the first quarter of 2009 itself.
* 18.5% manufacturing growth in December was the highest in two decades.
* Figures for merchandise exports for January encouraging
after turnaround in November and December last year.

Read the complete highlights of the budget 2010-11 at www.stockinvest.in