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Minorities' social security gets boost in Union Budget

New Delhi, Feb 27 (UNI) The Minority Affairs Ministry has been given a substantially increased amount for its various schemes and programmes in the Union Budget for 2007-08.

Social security has got a special attention from Finance Minister P Chidambaram. The allocation for the sector has gone up by about four times in this year's Budget. The sector has got Rs 512.83 crore as compared to Rs 143 crore last year.

The allocation for the welfare of Scheduled Castes, Scheduled Tribes and Other Backward Classes has been more than doubled--from Rs 112.60 crore to Rs 392 crore in the Budget.

The National Minorities Development and Finance Corporation has been given an amount about more than four times of the previous year's.

In his Budget speech, Mr Chidambaram said in view of the government's commitment to implement the Sachar Committee report, the Corporation would be required to expand its reach and intensify its efforts, so a further sum of Rs 63 crore was being added to the equity of the corporation.

The total Central sector Plan outlay has been enhanced from Rs 130 crore to Rs 500 crore.

He said the budget also made a provision of Rs 108 crore for multi-sectoral development programmes in the district with a concentration of minorities.

Besides Rs 72 crore, Rs 90 crore and Rs 48 crore have been allocated for pre-matric scholarships, post-matric scholarships and Merit-cum-means scholarships at graduate and post-graduate level respectively.

UNI

Budget speech had some lighter moments

New Delhi, Feb 28 (UNI) Members of Parliament heard in rapt attention Finance Minister P Chidambaram reading out his Budget speech except for a brief interruption towards the end, unlike the Railway Budget which was interrupted all through by the agitated NDA opposition shouting slogans trooping into the well of the House on Monday on the Bofors issue. xxxxx As Mr Chidambaram was coming to the end of his Budget speech,BJP Parliamentary Party Leader V.K.Malhotra broke the silence of the House.....

Sops for common man in Budget, but India Inc disappointed

New Delhi, Feb 28 (UNI) Targeting the 'Aam Aadmi' though lacking in substantial reform measures, Finance Minister P Chidambaram today raised the threshold for exemption in personal Income Tax by Rs 10,000, but hiked the education cess by one per cent, increased the allocation on social sectors and provided succour to small service providers and small scale industry. In the General Budget 2007-08- the fourth of the UPA government- presented in the Lok Sabha, Mr Chidambaram raised dividend distribution tax to.....

Corporation tax has highest contribution to Rupee

New Delhi, Feb 28 (UNI) Out of every Rupee spent this year, corporation tax will be contributing the maximum of 21 paise followed by borrowings and other liabilities and excise at 19 paise and 17 paise respectively. According to the breakup of the contribution of various sectors to the Rupee, Income-Tax accounts for 13 paise and Customs 12 paise. Of this, non-tax revenue shares 10 paise, service tax and other taxes is a meagre 7 paise and only 1 paise is.....
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