Indian Budget 2010

Development and growth of any country and country’s people is depends on the Budget of that country. Budget 2010 is just around the corner and everyone was hoping to get some relief from inflation. The common man had a lot to expect from the government in terms of sops and tax cuts. When budget was announced it gives relaxation to lots of people. It would also play an important role in reducing the debt, because people can save more money that would help them to pay off their debt.

I would like to discuss some of the points of current budget.

Taxation

Income tax slabs has revised. Now the people need not have to pay such high income tax to the government. They can save more money and that money can also be used for personal development.

Infrastructure

For the development of infrastructure which accounts 46 per cent of the total plan allocation. Allocation of road transport has been also increased by 13 percent from last budget. Development of infrastructure helps in industrialization, generation of more employment and increase living standards of people. These all elements are interrelated and help to build the complex system of any country.

Agriculture

A Nutrient Based Subsidy policy for the fertilizer sector has been approved. For agriculture growth, credit support will be provided to farmers and food processing sector. That would help farmers in increasing production. Five more mega food parks are going to be set up in near future.

Education

Plan allocation for school education increased by 16 per cent. To reduce illiteracy rate of female, the Government has recast the National Literacy Mission. It would help to increase the literacy rate of country.

Every budget has some pros and cons, and the same goes for this budget. But this time budget has brought happy colors infrastructure, agriculture and education system. That would definitely bring positive results.