New Delhi: The Union Budget for 2004-05 was presented in the Lok Sabha today (Jul 8, 2004) by Finance Minister P Chidambaram.

In his opening remarks, Chidambaram said the verdict in the recent General Elections was a vote for a change in the manner in which the Government was run and the policies followed.

Following are the highlights of the Budget 2004-05:

Rs 3,500 crore subsidy for Antodaya scheme under which food grains would be provided for poorest of the poor.

It is proposed to launch new food for work programme to step up employment in rural areas.

National Agriculture Insurance Scheme to be redesigned by LIC.

More ITIs to be set up. Government proposed to launch a programme to upgrade 500 ITIs in the country.

Drinking water for all. Minor irrigation, water harvesting to be encouraged. More housing for the poor. Electricity for all.

Government proposes to bring all drinking water schemes under the umbrella of Rajiv Gandhi drinking water mission.

Allocation for Indira Awas Yojana for housing for the rural poor, including scheduled castes and tribes, raised to Rs 2,247 crore.

First large scale desalination plant to be set up near Chennai to tackle scarcity of drinking water.

Port infrastructure to be improved. Kochi to be made a major container transshipment terminal.

Value Added Tax (VAT) to be implemented nationwide from April one, 2005.

Commerce Minister will soon introduce a Bill to regulate Special Economic Zones (SEZs). The New Trade Policy to be unveiled by this month-end will contain strategy for boosting exports including SEZs.

Rs 5,823 crore to be invested in schemes in North-Eastern States and Sikkim. Bihar to be provided a package of Rs.3,225 crore for development.

A board for reconstruction of Public Sector Enterprises to be set up.

RBI to revise norms for providing rural housing loans.

Govenment to disinvest five per cent of NTPC's holdings.