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Budget seeks to minimise impact of global recession: PM

New Delhi: Prime Minister Manmohan Singh on Monday said the Union Budget 2009-10 is aimed at minimizing the "impact of the global recession" and achieving 8 to 9 per cent growth in the medium term. Describing the budget as rural-development-oriented, Singh said its focus was to ensure that short-term requ ....Read more

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Union Budget 2009-10By: Dr. Sandip Chatterjee | Monday , 6 Jul '09 15:49:52 PM Reply | Forward While the Budget disappointed the market players who look for immediate impacts, it has come out with innate strength by bolstering demand and capacity building. Focus on infrastructure will definitely enhance capacity, tax benefits, reduction in interest subvention by 100 basis points and elongrating agriculture debt waiver and debt relief scheme for six months will surely boost demand. Thus, the couplet of income generation emphasising rural economy and boosting real economy will have a slow but steady and far reaching impact on the economy, conducive for overcoming global melt down impact faster.

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