Finance Minister P Chidambaram presented the Union Budget for 2007-08 in the Lok Sabha on Wednesday. Women's development allocation will be Rs.22,282 crore (Rs 222.82 billion), the finance minister announced.
Inflation during 2006-07 is estimated at between 5.2 and 5.4 per cent against 4.4 per cent during the previous year. Stating that economy in a stronger position than ever before, the finance minister said he was confident of managing inflation.
Here are some of the other highlights:
- Saving rate of 32.4 per cent, investment rate of 33.8 per cent will continue.
- A number of proposals to perk up agriculture to be announced.
- Bank credit rate grew by 29 per cent during first 10 months of 2006-07.
- Two lakh more teachers to be employed and five lakh more classrooms to be constructed.
- Manufacturing growth rate estimated at 11.3 per cent.
- 9.2 per cent GDP growth rate estimated in 2006-07.
- Average growth for last three years is 8.6 per cent.
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