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Govt looking at strong IT infrastructure

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CIOL Bureau
New Update

NEW DELHI, INDIA: Finance Minister Pranab Mukherjee, who presented the Union Budget for the Financial Year 2011-12 in Parliament on Monday said that the GDP growth would be around 9 per cent.

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He also said the government is looking at strong IT infrastructure.

In his budget speech Mukherjee said the GDP growth for fiscal 2010-11 was around 8.6 per cent, where agriculture grew by 5.9 per cent, industries by 9.6 per cent and services by 9.6 per cent.

The exports grew by 29.4 at $184.6 bn and imports  reached to $273.6 bn, a growth of 7.6 per cent.

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In the speech, Pranab Mukherjee shared that the government is looking at strong IT infrastructure. It would set up a national information utility backbone of IT and NSDL by June- July 2011. It would also set up an agency for public dept next year.

2010 would see a transition to transparent and result-oriented governance, prioritizing on growth and public delivery and improving regulatory standards.

Invoking the gods while presenting the budget for 2011-12, appealing to Indra, the god of rains, and Saraswati, the goddess of learning, Mukherjee said agriculture growth is key to development and Green Revolution is waiting to happen in eastern region.

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Some more highlights of budget for 2011-12:

Women's self-help development panel to be set up.

Bills on insurance, pension funds, banking to be introduced.

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Introduction of GST will improve compliance; bill in current session; setting up strong IT network for implementation.

Expenditure has to be oriented towards production of goods and services.

Government committed to retaining 51 per cent stake in public sector enterprises.

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FDI policy being liberalised.

Corruption a problem we have to fight collectively.

Economy has shown remarkable resilience to external and internal shocks.

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