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India: Highlights of Interim Budget ’09

Pranab Mukherjee, the stand-in Prime Minister and Finance Minister of India announced the interim Budget 2009 in Parliament. Mukherjee pointing out that the United Progressive Alliance (UPA) had succeeded in implementing the promises outlined in the Common Minimum Programme (CMP).

“Achieving 7% growth rate on a sustained basis was one of the targets of the UPA,” Mukherjee said. “And the country clocked above 9% growth rate for three consecutive years — FY06, FY and FY08.”

Highlights of the Interim Budget 2009

-All efforts made to deliver on commitments
-Sustained growth over 9% in last 4 years
-Per capita income grew 7.4% during UPA regime
-Gross domestic savings rate at 37.7%, gross capital  formation at 14.2%
-Tax-GDP ratio at 12.5% in 2007-08, close to fiscal correction target
-Domestic investment rate over 39% in FY08

complete article @ Moneycontrol

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