The Union Budget was released amidst a lot of expectations from the industry.
Key highlights of Budget 2010-11
- Rs 16,500 crore has been provided to ensure that Public Sector Banks are able to attain a minimum 8% Tier-I capital by March 31, 2011
Rs 1,73,552 crore has been provided for infrastructure development, which accounts for over 46% of the total plan allocation. Allocation for road transport has been increased by over 13% from Rs 17,520 crore to Rs 19,894 crore
- Plan allocation for the power sector excluding Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) doubled from Rs 2,230 crore in 2009-10 to Rs 5,130 crore in 2010-11
- The Plan and Non-Plan expenditures in BE 2010-11 are estimated at Rs 3,73,092 crore and Rs 7,35,657 crore, respectively. While there is a 15% increase in Plan expenditure, the increase in Non-Plan expenditure is only 6% over the BE of the previous year Fiscal deficit for BE 2010-11 has been estimated at 5.5% of GDP, which works out to Rs 3,81,408 crore