BUDGET: FM Launches More Reform Measures

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: BUDGET
FM Launches More Reform Measures
Finance minister Jaswant Singh on Tuesday presented the interim budget for 2004-05 in the Lok Sabha. He said the government was committed to second green revolution, employment generation, eradication of poverty and fiscal consolidation.

Mr Singh launched several initiatives and reform measures directed towards removing poverty. He outlined the objective of the interim budget 2004-05 as “garib ke pet me dana, grihini ki tuki a anna” (poor to get food and housewives to get money).

Mr Singh said that the interim budget will provide the much-needed acceleration to growth and stabilise the economy. “This is just an interim budget and we can’t address everything in it. But we have tried to address the issues which will be necessary to accelerate growth, stablise the economy, reduce poverty and give more relief to farmers,” Mr Singh said.

Some of the highlights of the budget are:

*Reduced interest rates for crop loans by public sector banks

*All eligible farmers will be given Kisan Credit Cards by April 1

*Special loan facilities for tea growers

*Government to prepare package for revitalisation of sugar industry

*Agricultural infrastucture and credit fund set up

* Outlay of Rs 15,000 crore to be shared between Central and state governments

*Small and medium enterprises to have easier access to bank credit through Laghu Udyami Credit Card scheme

*Small and medium enterprise fund set up; to lend 2 per cent points below prime lending rate

*50 per cent of the DA to be merged with basic salary for govt employees

*Exemption from long-term capital gains tax on listed equities extended

*Tax treatment of family pension for war widows to be reviewed

*Antyodaya Anna Yojana extended to cover 2 crore BPL (below poverty line) families

*Pradhan Mantri Swasthya Suraksha Yojana unveiled.

BOFORS
Clean Chit Given To Rajiv Gandhi
More than 16 years after the Bofors scam rocked the political scene, the Delhi high court on Wednesday gave a clean chit to former prime minister Rajiv Gandhi even as it quashed charges against three Europe-based Hinduja brothers under the Prevention of Corruption Act framed by CBI which came in for severe criticism from the court.