FM aims for 10% growth

Finance Minister P Chidamabaram begins budget speech. He says agriculture growth is once again at 2.1 per cent. Non-food credit growth is at over 2.5 per cent. The foodgrain output is at 209.5 MT.

Farm credit to double in three years.

Rajiv Gandhi drinking water plan gets a hike.

Savings are up at 21.9 per cent of GDP. He says the government is determined to take economic growth to 10 per cent. Further, he says, Rs 944 cr is given under Bharat Nirman. FY06 GDP growth is put at 8.1 per cent.

Manufacturing sector growth seen at 9.4 per cent in FY 07.

Investment

rate up. It appears India is catching up with high investement rate of Asia and China.

The Finance Minister has proposed a provision of over Rs 16000 crore (Rs 160 billion) for PSU equity.

Ninety-six per cent of Golden Quadilateral to be completed by June this year. The entire project will be completed by 2008.

For education, Rs 24115 crore (Rs 241.15 billion) ahs been allocated. Old-age pension raised to Rs 200 per month. Rs 16.4 cr allocated for National Minority Development Corporation.