The central budget on the rural development and agriculture is expected to reach nearly 600 billion yuan in 2008, representing a year-on-year increase of 38 percent, said Finance Minister Xie Xuren at a national work conference, adding that more money and favorable policies would be adopted in 2009 to develop the rural areas and agriculture and improve the livelihood of farmers.
Subsidies to farmers from the state exchequer more than doubled in 2008 to 102.77 billion yuan, according to Xie.
He released that the reform and development of the rural areas is one of the priorities on the list of fiscal tasks in 2009. Investment on rural infrastructure construction and social welfare will be increased significantly, particularly in the mid-west part of China. Support will be given to build a rural financial service system with diversified capital sources.
More subsidies will be given to boost the development of agriculture. Modern commercial circulation system will be built to spur the consumption.
More fiscal support is also planned to promote the education and training, health care, social security and poverty alleviation in rural areas. Reforms on the fiscal system at the county and village levels will be deepened.
The country's total fiscal revenue is expected to exceed 6 trillion yuan (about 857 billion U.S. dollars), a year-on-year increase of 19 percent, much slower than the 32.4 percent growth in 2007.
By People's Daily Online
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