The Union Budget 2007 was presented in the backdrop of an impressive nine percent GDP growth rate and buoyant tax collections. Both manufacturing and services sector performed well to register a growth rate of over 10% in the past one year. Recognising the need to maintain these rates the Government has announced a much needed increase in resource allocation to healthcare, education and infrastructure sector, thereby helping the country in reaping a demographic dividend in the coming years. Agriculture has been recognised as a priority concern and support has been announced through crop funds and farmer credit schemes. The Government has also reiterated rolling out a National Goods & Services Tax by 2010.
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