State-run oil firms propose to raise petrol prices by up to Rs 4 a litre this week to offset rising crude oil costs as the Budget has ignored their demand to cut duties on the fuel.
Finance Minister Pranab Mukherjee’s Budget lacks tax pyrotechnics, yet it reveals a remarkably improved fiscal position and a conceptual breakthrough in delivering subsidies through cash transfers for kerosene, fertilisers and cooking gas.
In some relief to general tax payers, Finance Minister Pranab Mukherjee today enhanced the tax exemption limit by Rs 20,000 to Rs 1.80 lakh, gave additional benefits to senior citizens but excluded women from additional sops.
Finance minister Pranab Mukherjee on Monday presented to Parliament India’s budget for the coming financial year beginning in April. Following are the highlights of the budget:
Positives: 1. Excise duty to be reduced from 10% to 5% on parts of specified machinery 2. Surcharge for companies cut to 5 per cent, from 7.5 per cent 3. Citizens over 80 years to have exemption limit of Rs 5 lakh 4. Special incentives for hybrid vehicle makers if manufacturing done in India to […]
Finance minister Pranab Mukherjee has allocated Rs 5,000 cr to Small Industries Development Bank of India or Sidbi, drawing little cheer from the small and medium enterprises.
Finance Minister Pranab Mukherjee on Monday proposed to raise the income tax exemption limit for general tax payers to Rs 1.80 lakh per annum from Rs 1.60 lakh at present and introduced a high new tax slab for senior citizens of 80 years and above.