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Union Budget 2008-09  »   Story
Patil sings 'aam aadmi' tune in address to Parliament
Press Trust of India
New Delhi, February 25, 2008
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The government will step up priority sector lending to minority communities' development programmes as part of the architecture of inclusive growth, President Pratibha Patil said on Monday.

In her maiden address to the joint sitting of Parliament marking the commencement of the Budget Session, she touched upon various issues pertaining to the 'aam aadmi' (common man) and said the National Rural Employment Guarantee Programme would be extended to all rural districts of the country from April.

She said the government has taken various steps to mitigate the plight of Scheduled Castes, Scheduled Tribes and workers in the unorganised sector.

Recalling that Prime Minister's new 15-point programme for development of minorities aimed at ensuring that benefits flowed equitably to them, Patil said "the proportion of priority sector lending going to minority communities will be stepped up from the present nine per cent to 15 per cent."

Certain proportion of development projects would be located in minority concentration areas and, wherever possible, 15 per cent of targets and outlays under various schemes would be earmarked for the minorities, she said.

The President said several programmes have been launched based on the recommendations of the Sachar Committee report to improve the economic and educational status of the minorities.

She said the 11th Plan provides Rs 800 crore for merit-cum-means based scholarship for professional courses, nearly Rs 3,300 crore for post and pre-matric scholarship programmes for minority students and Rs 3,780 crore for the development of 90 minority concentration districts.

Sector Analysis
AUTO
Negotiating a rough patch
Demand growth is expected to be buoyant driven by new vehicle launches, likely softening of interest rates and continued growth on the export front.
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Railway Budget
Lalu presents people's budget, slashes fares
The minister announced launch of several new trains and reduction in fares across all classes amid chaos by Opposition in Parliament.
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Features
A budget for Bharat
Buoyant tax revenues a lower fiscal deficit and an economy that's in top gear permit the FM to pump big money into agriculture and the social sector. Those efforts might help at the hustings, too.
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Economic Survey
'Expand telecom infrastructure, R&D'
"With rapid growth of telecom network, there is a need to further expand the infrastructure and research and development," the survey said.
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Surfers' comments
This is a very good budget, especially for agriculture and education. P Chidambaram is the best.
- By Saravanan P (plsharavanan@rediffmail.com)
If you can waive Rs 50,000 crore for farmers what about the tax on housing loan interest? That should also have been reduced.
- Chandra Shekar V (rilshekar@yahoo.co.in)
Please tax the street hawkers and give relief to the salaried persons.
- Rajaram (rajaramghurup@rediffmail.com)
This is the worst budget the finance minister has ever presented. The backbone of the country's economy is the transport but he completely missed it out.
- Jayakaanthan A (jayakaanthan@gmail.com)
The budget is sure to augment growth and will also lessen the volatility of the stock markets.
- Sidharth Paul (sidharth.paul@gmail.com)
Overall, the budget is satisfactory but the health sector should have been given greater importance.
- Ankit Chaudhary (chaudharyankit1987@gmail.com)
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Business Today's Budget edition
Editorial: Predictably populist budget
Special: Something for everyone...
Column: All for the common man
Exclusive interview with the FM
Maintaining the growth story
The Finance Minister defends Budget 2008 and the Rs 60,000 crore loan waiver doled out to farmers in an exclusive interview to Business Today's Sanjoy Narayan and R Sridharan.
VOX CEOs
"Total reduction of excise duties by 2% will give a welcome boost to the manufacturing sector. Also, the exemption of specified parts of set-top boxes from customs duties is commendable".
- Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises
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