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Old 06-13-2008, 11:13 AM
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Join Date: Jun 2008
Posts: 23
Default Indian Budget 2007 - 2008 Highlights

* GDP growth rate estimated at 9.2% in 2006-07.
* Manufacturing growth rate estimated at 11.3%.
* Saving rate of 32.4%, investment rate of 33.8% will continue.
* Tax as % of GDP at 11.4%
* Gross domestic capital formation up 23%.
* Fiscal deficit to be 3.7% in the current year and revenue deficit 2%.
* Fiscal deficit for 2007-08 pegged at 3.3% of GDP and Revenue deficit at 1.5%.
* Bank credit rate grew by 29% during first ten months of 2006-07.
* E-Governance expenditure hiked to Rs.719 crore
* Inflation during 2006-07 estimated at between 5.2 and 5.4% against 4.4% during the previous year.
* Total expenditure during 2006-07 estimated at Rs.6,80,521 crore
* Defence Budget hiked to Rs.96000 crore.
* Overseas investment to be allowed by individuals via Mutual Funds.
* Government to allow short selling by institutions.
* Mutual Funds to be allowed to launch infrastructure funds.
* PAN to be made sole identity for participants in the security markets to strengthen capital market.
* Foreign exchange reserves stand at 180 billion dollars.
* Tourism infrastructure to get an allocation of Rs 520 crore as against Rs 423 crore last year.
* Northeastern region to get Rs 405 crore for highway development. Road-cum-rail project over Brahmaputra in Bogibil, Assam.
* New industrial policy for the Northeast.
* Technology Upgration Fund to be continued during the 11th Plan. Rs 911 crore to be provided for this
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