| | Budget Highlights | Time |
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Rs.5000 crores loss from indirect tax proposals. |
1: 08: 23 P.M. |
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Direct tax proposals will be revenue neutral : Finance Minister |
1: 08: 01 P.M. |
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Excise duty for unbranded diesel ` 4.6 per litre. |
12: 58: 34 P.M. |
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Rs. 1.35 per litre excise duty for unbranded petrol. |
12: 57: 43 P.M. |
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ICCR to get ` 75 crores for cultural development. |
12: 55: 04 P.M. |
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Finance Minister withdraws banking transaction tax. |
12: 50: 41 P.M. |
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Threshold limit for taxes for senior citizens ` 2,25,000. |
12: 49: 53 P.M. |
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15% increase in taxes for short-term capital gains. |
12: 48: 55 P.M. |
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Higher rates of taxes for both filtered and unfiltered cigarettes. |
12: 47: 51 P.M. |
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Rs. 450 per metric ton excise duties on cement clinkers. |
12: 46: 58 P.M. |
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Excise duties eliminated on set-top boxes for televisions. |
12: 45: 45 P.M. |
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30% tax for income over ` 5,00,000. |
12: 44: 50 P.M. |
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Surcharge on corporate tax remains unchanged. |
12: 43: 30 P.M. |
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No changes in corporate tax rate. |
12: 42: 31 P.M. |
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Exemption of taxes for persons paying medical insurance premium for parents. |
12: 41: 37 P.M. |
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Threshold limit for taxes for women ` 1,80,000. |
12: 40: 07 P.M. |
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Rs. 3,00,000 to 5,00,000 to be taxed at 20% rate. |
12: 39: 02 P.M. |
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Rs. 1,50,000 to 3,00,000 to be taxed at 10% rate. |
12: 38: 25 P.M. |
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Threshold limit for taxes increased to ` 1,50,000. |
12: 37: 28 P.M. |
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No customs duty on steel scrap. |
12: 36: 20 P.M. |
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Peak customs duty remains unchanged. |
12: 35: 41 P.M. |
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Elimination of excise duties on refrigeration devices. |
12: 35: 06 P.M. |
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Reduction in excise duties on water purification devices from 16% to 8%. |
12: 34: 10 P.M. |
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Reduction in excise duties on two-wheelers and three-wheelers from 16% to 12%. |
12: 33: 24 P.M. |
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Reduction in excise duties in pharma sector from 16% to 8%. |
12: 32: 30 P.M. |
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One more year needed to eliminate revenue deficit. |
12: 30: 54 P.M. |
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Revenue deficit for the current year will be 1.4%. Budget estimate was 1.5%. |
12: 29: 55 P.M. |
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Estimated fiscal deficit for 2008-09 to be 2.6%. |
12: 28: 53 P.M. |
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Fiscal deficit will be 3.1% this year. |
12: 28: 14 P.M. |
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Non-planned expenditure estimated at ` 507,498 crores. |
12: 27: 07 P.M. |
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Women specific schemes to get ` 11,460 crores. |
12: 25: 46 P.M. |
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Rs. 624 crores for Commonwealth Games : FM asks authorities to adhere to time and quality standards in preparation for Commonwealth Games. |
12: 24: 34 P.M. |
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22 Sainik Schools to get ` 44 crores each. |
12: 22: 44 P.M. |
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Rs. 3,443 crores allocated for Indira Gandhi National Pension Scheme. |
12: 22: 00 P.M. |
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LIC to cover poor households in India. |
12: 20: 54 P.M. |
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Smart-Card based delivery system for public distribution system in Haryana and Chandigarh. |
12: 20: 18 P.M. |
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Finance Minister expresses concern over attrition in defence services. |
12: 19: 09 P.M. |
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Rs. 750 crores for upgradation of ITIs in 2008-2009. |
12: 18: 02 P.M. |
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Upgradation of ITIs to take place at a faster rate. |
12: 16: 47 P.M. |
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SIDBI to establish Risk Capital Fund. |
12: 15: 33 P.M. |
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Increase in outlay for TUFs. |
12: 14: 16 P.M. |
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Rs. 8,000 crores for Accelerated Power Development Programs. |
12: 13: 29 P.M. |
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Fund of ` 1,200 crores for the National Housing Bank. |
12: 11: 43 P.M. |
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Manufacturing industries have grown slowly. |
12: 10: 43 P.M. |
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Double allocation to Ministry of Minorities. |
12: 09: 05 P.M. |
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15% increase in allocation for health. |
12: 08: 12 P.M. |
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Government will continue to provide fertilizers at subsidized rates to farmers. |
12: 07: 34 P.M. |
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Special Grants to Tea Research Association. |
12: 06: 08 P.M. |
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More than ` 19 crores to be allocated for rubber cultivation. |
12: 05: 08 P.M. |
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Rs. 18 crores to be allocated for coffee cultivation. |
12: 03: 53 P.M. |
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Rs. 40 crores to be allocated for tea cultivation. |
12: 03: 32 P.M. |
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500 soil testing centers to be set up during the 11th plan period. |
12: 02: 27 P.M. |
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Special boost is being given to the cultivation of coconut and cashew nut. |
12: 01: 31 P.M. |
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Total loan waivers amounting to Rs 50,000 crores |
12: 00: 51 P.M. |
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IWRFC to be set up before March 31, 2008. |
12: 00: 28 P.M. |
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June 2008 deadline for completion of waivers. |
11: 59: 18 A.M. |
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3 crores small and marginal farmers and 1 crore other farmers to benefit from loan waivers. |
11: 57: 50 A.M. |
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One time settlement scheme for all other farmers. |
11: 56: 11 A.M. |
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3 agreements to renovate water bodies. |
11: 54: 44 A.M. |
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Rs. 348 crores allocated for rain-fed areas. |
11: 53: 50 A.M. |
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Waiver of loans on land holdings upto 2 hectares. |
11: 52: 44 A.M. |
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Waiver of all loans for marginal and small farmers. |
11: 51: 46 A.M. |
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Rs. 20,000 crores allocated for irrigation. |
11: 50: 56 A.M. |
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24 major irrigation projects will be completed this year. |
11: 50: 20 A.M. |
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Gross capital formation in agriculture was 12.5% in 2006-2007 : Finance Minister. |
11: 48: 44 A.M. |
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Rs. 540 crores for development of minority dominated areas. |
11: 45: 40 A.M. |
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Rs. 300 crores for Desalination Plant near Chennai. |
11: 44: 15 A.M. |
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24% increase in allocation for women and child welfare. |
11: 43: 30 A.M. |
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More candidates from the minority community to be recruited in defence. |
11: 42: 50 A.M. |
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256 branches of Public Sector Banks opened in 2007-2008. |
11: 41: 10 A.M. |
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Rs. 3,966 crores for schemes benefiting SC and ST. |
11: 40: 00 A.M. |
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Bihar, Andhra Pradesh and Rajasthan to get 3 IITs. |
11: 39: 02 A.M. |
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20% rise in total allocation for education. |
11: 38: 13 A.M. |
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Total budget allocation for North-eastern region - ` 16,447 crores : Finance Minister. |
11: 37: 24 A.M. |
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16 Central Universities to be set up. |
11: 35: 51 A.M. |
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Standalone System to provide water to every school in water deficient areas - allocation ` 200 crores. |
11: 34: 44 A.M. |
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Rs. 7,300 crores allocated for Rajiv Gandhi Drinking Water Mission. |
11: 32: 43 A.M. |
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Rs. 1600 crores to be allocated for the National Rural Employment Guarantee Scheme. More money will be provided as demand rises. |
11: 31: 36 A.M. |
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Remuneration for Anganwari workers to be increased to ` 750. |
11: 29: 23 A.M. |
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Rs. 8000 crores for Mid-Day Meal Program. |
11: 28: 12 A.M. |
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Allocation for Education Sector - ` 34,400 crores. |
11: 27: 36 A.M. |
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Rs. 31,280 crores allocation for Bharat Nirman Program. |
11: 25: 51 A.M. |
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Mid-Day Meal is the largest school mission in the world covering 11.4 crores children. |
11: 25: 01 A.M. |
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Agricultural Output expected to reach 240,000 crores by March, 2008. |
11: 23: 34 A.M. |
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Foreign Fund Inflow to be monitored. |
11: 22: 23 A.M. |
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One of the cornerstones of our policy is keeping inflation in check : Finance Minister. |
11: 21: 36 A.M. |
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Growth Rate of agriculture of only 2%. |
11: 20: 28 A.M. |
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8.7% Growth in current year according to Central Research Organisation. Finance Minister expects 8.8%. |
11: 07: 26 A.M. |
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Growth Rate of more than 8% for 12 consecutive quarters. |
11: 05: 50 A.M. |
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P. Chidambaram starts presenting Budget 2008. |
11: 04: 55 A.M. |
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Budget Session begins in Parliament. |
11: 04: 14 A.M. |
