Budget Reactions from RAAC

RESIDENTS AWARENESS ASSOCIATION OF COIMBATORE

PSG TECH SOFTWARE PARK 2,AVANASHI ROAD,PEELAMEDU,COIMBATORE-641004

EMAIL:coimbatore@raac.co.in Phone:6505435

Union Budget 2009

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Increase in allocation to National Highways Authority of India (NHAI) for the National Highway Development Programme (NHDP) increased by 23 per cent over B.E. 2008-09 and for Railways to Rs.15,800 crore is not sufficient to cope up with the requirements road and rail infrastructure in terms of the population growth.

Allocation under Jawaharlal Nehru National Urban Renewal Mission (JNNURM)

stepped up by 87 per cent to Rs.12,887 crore in B.E. 2009-10 and allocation for housing and provision of basic amenities to urban poor enhanced to Rs.3,973 crore in B.E. 2009-10 is a welcome measure.

Target for agriculture credit flow set at Rs.3,25,000 crore for the year 2009-10 is a welcome measure.

The other proposals of

Scheduled commercial banks allowed to set up off-site ATMs without prior approval subject to reporting.

National Food Security Act to be brought in to ensure entitlement of 25 kilo of rice or wheat per month at Rs.3 per kilo to every family living below the poverty line in rural or urban areas.

To enable students from economically weaker sections to access higher education,

a scheme to provide full interest subsidy during the period of moratorium introduced to cover loans taken from scheduled banks to pursue any of the approved courses of study in technical and professional streams from recoganised institutions in India.

New project for modernization of Employment Exchange in public private partnership to be launched so that a job seeker can register on line from anywhere

and approach any employment exchange.

Income tax Exemption limit in personal income tax raised by Rs.15,000 from Rs.2.25 lakh to Rs.2.40 lakh for senior citizens; by Rs.10,000 from Rs.1.80 lakh to Rs.1.90 lakh for women tax payers; and by Rs.10,000 from Rs.1.50 lakh to Rs.1.60 lakh for all other categories of individual taxpayers.

Eliminating the surcharge of 10 percent on personal income-tax are the welcome measurers in this budget.

Other than the above few proposals nothing much has been announced to improve the Infrastructure requirements which will benefit Coimbatore.

We request you to kindly publish in your esteamed daily and oblige

Thanking you

Yours truly

R R Balasundharam

Hon.Secretary

RAAC