My take on Budget 2010


Finance Minister Pranab Mukherjee presented the Union Budget for 2010-2011 (April to March) on February 26, 2010

Things I liked most

1 Symbol for Indian Rupee, I always wondered as to why UK Pound , US Dollar, European Euro, Japanese Yen had a symbol but not Indian Rupee; finally, before the end of 2010 there will be a symbol for INR! To me it is the biggest contribution of Budget 2010

2 PSU undertakings are doing great; it is time that they get listed; in the process there will be more accountability and people (retail investors) will benefit. Being on the Board of Bank of India, NMDC, BEL, NLC I particularly feel happy that Finance Minister is talking proudly about the recent NTPC, REC and the planned NMDC divestment

3 Capital infusion into PSU banks Rs 16,500 Crores to enable all Banks to get Tier I capital

4 Increase in outlay for School Education by another Rs 5,000 crores beyond Rs 26,000 Crores provided last year; higher education did not find any mention though!

5 Skill Development Mission of touching 500 million Indians by 2022 is a noble goal (In fact I am the Chair of one Sub-committees of the five Committees set up by the Planning Commission); the budget allotted some more money though not much!

6  Technology Advisory Group for UID Project gets created and the project gets additional budgetary support

7 R & D investment get 200% tax concession (up from 150%) and University funding gets 175% tax concession from 125%; good for scientific establishment (specially biotech industry R & D);

8 Mobile phone assembly units get duty exemption / reduction; low cost mobile handsets will cost less! Good for aam admi

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