Union Budget 2013-14: Highlights

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P. Chidambaram, the finance minister of UPA government presented his 8th union budget in the parliament today. Good news is that it doesn’t seem a popular budget keeping in mind approaching elections. The finance minister has tried to keep a balance between different sectors and increased the rates of costly commodities like foreign cars, cigarettes, mobiles etc.

Main highlights:


• No change in income tax slabs, 2-5 lac slab will get Rs. 2000 off

• Super rich who earn 1 crore plus will have to give 10% surcharge

• Home loan upto 25 lac will get 1 lac additional tax off

• Women bank will be opened, Rs. 10000 crore allocated

• Foreign cars, cigarettes, mobiles, dish TV will get costlier

• Defence sector is being allocated 2 lac, 3 thousand crore – a 14% increase

• Every government bank will have ATM facilities

• Leather products like shoes, slippers will got cheaper

• Rs. 10000 crore allocated for food security

• Govt announces Rs 2,000 cr fund for scientific innovations

• MNREGS scheme will get Rs. 33000 crore

• 0.01% CTT imposed on non agricultural products

Industrial experts are saying that the budget seems a balanced one and they are happy about the government’s decision of bringing out a balanced budget instead of a populist budget.

This union budget will help to boost the economic growth in the long term. Although bold steps are not take but it’s good that popular steps are also not taken.



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