Key features of Budget 2009-2010

The following are the highlights and key quotes of the budget 2009-10 presented by Finance Minister Pranab Mukherjee in parliament today.

Key Features of Budget 2009-2010

Challenges - To lead economy to high GDP growth rate of 9% per annum at the earliest. To deepen and broaden the agenda for inclusive development. To improve delivery mechanisms of the government.

Overview of the Economy

Growth rate of Gross Domestic Product dipped from an average of over 9% in the previous three fiscal years to 6.7% during 2008-09. Whole sale price index rose to nearly 13% in August, 2008 and had an equally sharp fall to zero per cent in March, 2009.

The structure of India’s economy changed over the last ten years with contribution of the services sector to GDP at well over 50% and share of merchandise trade doubling to 38.9% of GDP in 2008-09.

Recognising economic recovery and growth as co-operative effort of the Central and State Governments, meeting with Finance Ministers of States held as part of preparation of the Budget. This is intended to become an annual feature.