|
Monday July 6, 06:10 PM
|
|
FACTBOX - 2009/10 budget and the economy
NEW DELHI (Reuters) - Finance minister on Monday outlined plans to speed infrastructure development and unveiled increased spending for farmers and the poor in the first budget since the Congress-led government was re-elected convincingly in May.
The government said the additional spending would push the 2009/10 fiscal deficit to 6.8 percent of GDP, much higher than markets had expected, sending local shares sharply lower and pushing up bond yields.
Following are some facts about the budget and key numbers from the 2009/10 federal budget.
SIZE OF ECONOMY (GDP): $1 trillion
POPULATION: 1.15 billion
GROWTH: The government said on Monday economic growth slowed to 6.7 percent in 2008/09 from year-earlier 9.0 percent. It would be the slowest growth in six years.
The budget assumes growth of 8 percent in 2010/11 and of 9 percent in 2010/11.
INDUSTRIAL GROWTH: India's industrial output , which accounts for a quarter of its GDP, grew 2.4 percent in the year to March 2009, compared with 8.5 percent growth the year before.
Output was up 1.4 percent in April.
EXPORTS: India's exports, which form 16 percent of the economy, grew 3.4 percent in the year to March 2009, compared with growth of 23.02 percent in 2007/08.
They fell 29.2 percent in May and fell 33.2 percent in April.
BUDGET ESTIMATES FOR 2009/10:
* Total receipts seen at 10.21 trillion rupees
* Revenue receipts seen at 6.14 trillion rupees
* Capital receipts seen at 4.06 trillion rupees
* Borrowings and other liabilities seen at 4.01 trillion rupees
* Total expenditure seen at 10.21 trillion rupees
* Plan expenditure seen at 3.25 trillion rupees
* Non-plan expenditure seen at 6.96 trillion rupees
* Fiscal deficit seen at 4.01 trillion rupees, or 6.8 percent of GDP
* Revenue deficit seen at 2.83 trillion rupees, or 4.8 percent of GDP
(For more news on Reuters Money click http://in.reuters.com/money)
(For full coverage on Budget 2009 click http://in.reuters.com/news/globalcoverage/budget2009)
