The Union Finance Minister, Shri P. Chidambaram leaving North Block for Parliament House to present the General Budget 2007-08, in New Delhi on February 28, 2007.
The Minister of State (Revenue) Shri. S.S. Palanimanickam and the Minister of State (E, B&I) Shri Pawan Kumar Bansal are also seen.
Minister of Finance Mr P. Chidambaram, presented his budget on 28 February, here are the highlights.
GDP growth rate estimated at 9.2 per cent in 2006-07. Average growth for last three years is 8.6 per cent.
Manufacturing growth rate estimated at 11.3 per cent.
Saving rate of 32.4 per cent, investment rate of 33.8 per cent will continue.
A number of proposals to perk up agriculture to be announced.
Bank credit rate grew by 29 per cent during first ten months of 2006-07.
Inflation during 2006-07 estimated at between 5.2 and 5.4 per cent against 4.4 per cent during the previous year. Government concerned over inflation and would take all steps for moderating it.Already a number of steps on fiscal, monetary and supply management side have been taken.
The first Annual Staff Talks between the Indian Navy (IN) and Royal Australian Navy (RAN) were held in Sydney and Canberra on 29 Jan-01 Feb. The IN delegation was led by Rear Admiral Pradeep Chauhan and the RAN by RADM Russ Crane, their Deputy Chief. Maritime cooperation & security and naval exchanges were discussed at the talks.
VISIT OF ACT
CHIEF MINISTER TO INDIA
Chief Minister of Australian Capital Territory Mr. Jon Stanhope visited India from 5 to 15 February with a business delegation. He met Chief Minister of Karnataka Shri H.D. Kumaraswamy and Chief Minister of Delhi Smt. Sheila Dikshit. He addressed the IT industry leadership forum in Bangalore, during his visit. Possible cooperation particularly in the areas of education, ICT and film making was discussed during the visit.
BOMBING OF THE SAMJHAUTA EXPRESS
Government of India strongly condemned the terrorist attack on Delhi-Attari Express (link train of Samjhauta Express) on 18-19 February night. 68 persons died in the terrorist attack, most of them Pakistani nationals. Government of India provided all assistance for treatment of injured persons and to the relatives of the victims from Pakistan to come to India. Indian authorities are carrying out investigations into the attacks. The attack underscores the need for effective action against terrorist groups.
Foreign Minister of Australia Mr. Alexander Downer in a statement on 20 February condemned the terrorist bombing and expressed sympathy and support for the victims of the “cowardly terrorist attack”.
