Hi,
Apart from the above mentioned highlights there are few more which people were eagerly looking for are
. Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0-2.5 lakh.
. For senior citizens, no tax for income up to Rs 3 lakh/annum.
. Housing loan rebate to raised from Rs 1.5 lakh to Rs 2 lakh.
. PPF limit to be raised to Rs 1.5 lakh.
. Rs 1000 crore provided for rail connectivity in northeastern region.
. Rs 100 crore set aside for project to link rivers.
. Rs 5000 crore set aside for defence outlay over and above amount provided under interim budget.
. Rs 4200 crore set aside for Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia, over 1620 km.
@ Amreesh, Seems like a well covered budget, all that remains to be seen is whether this government will be able to put the money to use as stated or fill some hidden bank accounts like Swiss Bank.
Hi,
Here are the highlights of Union Budget 2014 tabled by finance minister Arun Jaitley:-
. Tax proposals on indirect tax front would yield Rs 7525 crore.
. Single Window Project to be taken up for facilitating trade.
. Additional 5% excise tax to be levied on aerated drinks with added sugar such as cold drinks.
. Tobacco products also to get costly as excise duty hiked to 72%
. Reduction in excise duty for specified food package industry from 10% to 6%.
. Excise duty on footwear reduced from 12% to 6% and many more