Finance Budget for 2009-2010 [summary]

Rural goodies * Spending on rural job scheme up by massive 144 percent. * Bharat Nirman scheme gets 45 percent hike in funds * Rs 38,000-crore increase in credit flow for farmers. * Subsidised 7 percent interest schemes for crop loans continues Tax sops * Salaried class gets 10K hike in income-tax exemption limits, 15K for senior citizens (1,60,000 for you; 1,90,000 for your wife; 2,40,000 for your father). *Filing tax returns to get simpler * 10% surcharge on individual income, in excess of Rs 10 lakh, is no more * Fringe Benefits tax scrapped, MAT raised from 10% to 15% Investors' delight * Commodities transaction tax disbanded * Uniform non-promoter public shareholding for all listed firms Splash the cash * Higher disposable income * Branded jwellery, LCD TVs, big-sized car cheaper * Set-top box costly, cotton apparel and branded fuel dearer * Life-saving drugs cheaper Big Business and Politics * Tax burden on economy comes to 10.9% of GDP, down from 11.6% * Tax exemption for IT sector and EOUs extended by one more year * 100% tax exemption on donations to political parties * Fiscal deficit 6.8% of GDP

Highlights of Railway Budget 2009-2010

• NO INCREASE IN PASSENGER FARE AND FREIGHT TARIFF
• BUDGET TO HAVE INCLUSIVE GROWTH AND EXPANSION OF RAILWAY NETWORK TO EVERY CORNER OF THE COUNTRY
• PLAN OUTLAY OF RS.40,745 CR. PROPOSED FOR 2009-2010
• PASSENGER AMENITIES GET HIGH PRIORITY, TO GET 119% INCREASE
• TRAFFIC RECEIPTS DURING 2008-09 INCREASE BY 11.4 % WHILE FREIGHT LOADING GREW @ 5%
• SPECIAL TRAINS FOR PERISHABLE FARM PRODUCE, FACILITIES FOR TRANSPORTATION OF RURAL CRAFT
• WORKS FOR 7 NEW LINES, GAUGE CONVERSION OF 17 LINES AND DOUBLING OF 13 LINES TO BE TAKEN UP
• FASTER PARCEL SERVICES PROPOSED ON THREE ROUTS
• TATKAL SCHEME TO BE MADE PASSENGER FRIENDLY
• RAILWAY TICKETS TO BE MADE AVAILABLE THROUGH POST OFFICES AND 'MUSHKIL AASAAN' MOBILE VANS
• CONCESSION FOR PRESS PERSONS INCREASED TO 50%
• MONTHLY TICKET OF RS. 25/- FOR UNORGANIZED SECTOR/POOR UNDER 'IZZAT' SCHEME
• "ONLY LADIES" EMU TRAINS AT DELHI, KOLKATA AND CHENNAI
• 'YUVA TRAINS' FROM RURAL HINTERLAND TO METROS AT CONCESSIONAL FARE
• 12 NEW POINT-TO-POINT 'DURANTO' TRAINS
• 57 NEW TRAINS, EXTENSION OF 27 TRAINS AND INCREASE IN FREQUENCY OF 13 TRAINS AND AIR-CONDITIONED DOUBLE-DECKER TRAINS PROPOSED
• 50 STATIONS TO BE UPGRADED TO WORLD CLASS STATIONS
• LONG DISTANCE TRAINS TO HAVE ON-BOARD DOCTORS AND INFOTAINMENT SERVICES
• HANDICAPPED AND AGED PERSONS TO HAVE MORE AMENITIES
• SPECIAL TRAINS TO FERRY PERISHABLE AGRO PRODUCTS AND RURAL HANDICRAFTS
• SPECIAL FUND FOR THE DEVELOPMENT OF NORTH EAST RAILWAY
• QUAZIGUND-ANANTNAG LINE TO BE COMPLETED BY NEXT MONTH
• 6560 RAILWAY STAFF QUARTERS TO BE CONSTRUCTED AND GROUP 'D' EMPLOYEES TO GET SCHOLARSHIPS FOR THEIR GIRL CHILD
• RAILWAYS TO COME OUT WITH WHILE PAPER ON FINANCIAL STATUS AND VISION-2020 DOCUMENT

1.	Minister of Railways Mamata Banerjee announced that there will be no increase in passenger fare and freight tariff. She said that the budget will have approach for 'inclusive growth' and expansion of rail network to take development to every corner of the country.
2.	Presenting the railway budget she proposed an outlay of Rs,.40,745 cr. for 2009-10. Out of this, Rs.2,921 cr. will be spent on new lines, Rs.1,750 cr. on gauge conversion and Rs.1,102 cr. on passenger amenities, which is 119% more than the allocation in the interim budget. Rs.424 cr. will also be spent on railway staff amenities. She proposed freight loading target of 882 MT and estimated gross freight receipt at Rs.88,419 cr.
3.	Giving an overview of financial performance of the Railways in 2008-09, the Minister informed that freight loading during the period grew by 5 percent while traffic receipt increased by 11.4 per cent to reach Rs. 79,862 cr.
4.	The Budget has proposals for 7 new lines, Gauge conversion of 17 lines and doubling of 13 railway lines. In addition, proposals for 53 new lines, 3 gauge conversion and doubling of 12 lines will be processed during the year.
5.	Proposing revision in Tatkal Scheme to make it more passenger friendly, the Railway Minister said that both the advance booking time and minimum charge will be reduced. She said perceptible improvement will be ensured in passenger amenities and safety and security will be given utmost importance. Cleanliness and quality of railway catering will be improved with focus on strict monitoring. She proposed that ticketing facilities will be taken to the grass root level. Computerized tickets will also be made available through Post Offices. Mobile ticketing vans, 'Mushkil Aasaan', will also be introduced to provide services in remote areas.
6.	Timely track renewal, modernization of signals and use of digital ultrasonic flaw detectors will be introduced for the safety of the passengers besides Integrated Security Scheme at 140 vulnerable and sensitive stations. Women RPF Squads, exclusively for women passengers, will also be introduced. 7. She announced a new scheme "Izzat” for travel with dignity. Under this scheme the people in unorganized sector with monthly income upto Rs.1,500/- can avail concessional monthly season ticket of Rs.25/- for travel upto 100 k.m. 8. The existing student concession is to be extended to students of Madrasas and students in Kolkata will now have the MST facilities for Kolkata Metro also. 9. To provide relief to women passengers the Minister proposed 'only ladies' EMU trains in Delhi, Chennai and Kolkata suburban during rush hours. She also announced new 'Yuva trains' dedicated to young generation from rural hinterland to major metros with concessional rail fare but with air-conditioned facilities. 10. Now the Press persons will get increased concession of 50% instead of existing 30% . Once in a year their spouse can also travel with 50% concession. 11. The Railway Minister announced 12 new point to point, non-stop 'Duronto' trains, 57 new train services, extension of 27 trains and increase in frequency of 13 trains. The Minister also proposed introduction of Air-conditioned double Decker coaches for inter-city travel. 12. Fifty stations will be developed as world class stations and 375 stations as 'Adarsh Stations' with improved basic amenities. Multi-functional complexes with shopping facilities, food stalls, budget hotels are to be constructed at 50 railway stations, which serve as centers of pilgrimage, tourist and industry. 13. The Minister announced extensive availability of 'Janata Khana', in which national and regional cuisines will be ensured. To improve the cleanliness, the on board house keeping scheme (OBHS) will cover 200 additional pairs of trains. The long distance trains will have on board availability of doctors and infotainment services. She also proposed 1000 new passenger reservation locations and expansion of Unreserved Ticketing System terminal from 5000 to 8000, In addition, automated ticket vending machines will be installed at 200 large and medium size stations. 14. Stressing on the extension of facilities for handicapped persons, the Railway Minister said that the Railway will have more ramps, lifts, escalators and special coaches for physically challenged and aged persons. 15. Reiterating her priority to extend railway services to farmers, she announced special trains to ferry perishable agro products like fruits, vegetables and also village handicrafts, cottage industry and textile products from production clusters to consumer clusters. She also proposed premium freight service for container movement with assured transit time and a mega logistic hub alongside eastern and western dedicated freight corridors. Premium parcel services with guaranteed transit time on pilot basis will be introduced on three routes. During 2009-10, Railway would acquire 18,000 new wagons against 11,000 in 2008-09. 16. The Minister announced creation of North-East Rail Development Fund for timely completion of national projects in the North Eastern region and said Quazigund-Anantnag new line in Kashmir will be completed by next month. She also proposed setting up of a new factory at Kanchrapara-Halisahar for manufacturing rail coaches and setting up 1000 MW power plant at Adra, in collaboration with Ministry of Power. 17. The Railway Minister said that welfare of railway staff will be given high priority. 6560 staff quarters will be constructed in 2009-10 and indoor stadium will be developed in major railway divisions and zones. Increased contribution of Rs.350 per employees to Staff Benefit Fund will continue for a year, with Rs.100 per employee for women empowerment. Scholarships will be introduced for the higher education of girl children of Group 'D' staff. She proposed attached medical colleges with railway hospitals at 18 locations and one burn unit at major hospitals. The Minister said the policy on Railway Recruitment Boards will be reviewed. Special recruitment drives for filling vacancies of SC and ST and physically handicapped will also be undertaken. 18. Emphasizing on review of projects with social perspective, Mamata Banerjee said, innovative financing will be adopted. The Railways will come out with White Paper on organizational, operational and financial status based on the last five years' performance and develop Vision-2020 with short and long term strategy and plan of action. She said that a project monitoring committee will be set up for developing mechanism to avoid slippage in project delivery. Special monitoring will be taken up for all National Rail Projects. She also proposed an expert committee headed by Shri Sam Pitroda to suggest innovations to utilize optic fibre cable network of Railways and take information technology to remote areas.