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Saturday, March 17, 2012

Union Budget 2012-13: GOES UP Vs GOES DOWN

Finance Minister Pranab Mukherjee presented the Union Budget for 2012-13 on Friday.

Following are some of the key highlights of the Union Budget 2012-13, presented by Finance Minister Pranab Mukherjee in the Parliament on Friday.

Tax burden for individuals to come down: Income tax exemption limit raised from Rs 1,80,000 to Rs 2,00,000; 10 per cent tax for 2-5 lakh income; 20 per cent for 5-10 lakh and 30 per cent beyond Rs 10 lakh; Savings bank account interest up to Rs 10,000 exempted from tax.

Budget 2012-13 WHAT GOES UP
  • ACs
  • Gold jewellery
  • Refrigerator
  • Luxury cars
  • Air travel
  • Telephone bills
  • Sport Utility Vehicles
  • Cigarettes
  • Handrolled beedis
  • Platinum jewellery
  • Diamond jewellery
  • Emerald
  • Ruby
  • Branded retail garments
  • Eating out at restaurants
  • Hotel accommodation
  • Hiring a law firm

Budget 2012-13 WHAT GOES DOWN
  • Cinema and films
  • LCDs and LEDs
  • Imported bicycles
  • Housing society charges
  • LPG
  • Mobile phones
  • School education
  • Iron ore equipment
  • Medicines for treating cancer and HIV Processed food
  • Iodised salt
  • Match boxes
  • Soya products
  • Solar power lamps
  • LED bulbs
  • Natural gas
  • Uranium for generation of electricity

14 comments:

yogesh said...

The finance minister has also said that taxation of unexplained money, credits, investments, expenditures etc, will be at the highest rate of 30%, here the slab of income will not be considered

rehesh said...

Almost all the manufactured items used in every day life will become costlier

rajesh said...

The finance Minister will not mentioned the tax slabs for women and senior citizens in his Budget Speech so far but it is awaited..

neeraj said...

Indeed a very strange Budget.

sachin said...

Citizen are ignored in this budget.

krishan said...

The budget is the reflection of liberalisation,globalisation and privatisation a policy dictated by world bank that wants subsidies to be withdrawn, open all sectors for the entry of multinationals etc .

nakul said...

FINANCE MINISTER IS HIM SELF A SENIOR CITIZEN, HOW COULD HE FORGOT SENIOR CITIZENS WHILE CONSIDERING CONCESSION TO ALL CATEGORY CITIZENS IN THE BUDGET.

kuldeep said...

Please try to something good the budget and do some good also to the common people.

anju said...

This budget may become the root cause for falling the government in next election.

surinder said...

This budget has no relevance to insulate common men .

sushil said...

Not good for common men.

arman said...

All is passed on to the Citizens & mostly to Middle class. This is not at all a favorable budget to any Citizen in this country.

nitika said...

I don't understand why the middle class should sacrifice their hard earned measly monthly income in taxes.

vinod kumar said...

cell phone's rate will decreases but their bill costlier.