Union Budget, 2009-10: Balanced and Growth-Oriented

Bheemanagouda and J Madegowda

The IUP Journal of Public Finance, 2010, vol. VIII, issue 1 & 2, 48-62

Abstract: Global economic slowdown/meltdown, decline in the Gross Domestic Product (GDP) growth rate, retrenchment of employees by a few large scale organizations (more particularly, the IT and BT companies), etc., posed a number of challenges to the government in the form of revival of the economy to achieve atleast 9% growth in GDP, broadening and deepening of the policies and programs for inclusive growth, and to improve the effectiveness of the delivery mechanism of the government. Further, all sections of the economy including individuals, corporate, market, international players, etc., were expecting more from this year’s budget. Under these challenges, pulls and pressures, constraints, etc., the Finance Minister has done a good job to prepare a balanced and growth-oriented budget. This paper makes an attempt to present the highlights of the Union Budget for 2009-10 and to make an evaluation of the same.

Date: 2010
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