Mukherjee puts money in one pocket, takes out from others
In his seventh national budget presented in the Lok Sabha Friday, Mukherjee raised the income tax exemption limit for individuals to Rs.2,00,000 from Rs.1,80,000 and revised the tax slabs to bring relief to some 35 million people in the country.
But by bringing virtually all services under the tax net and by hiking the rate from 10 percent to 12 percent -- as also by raising the standard excise rate to 12 percent from 10 percent -- he also ensured you pay more indirect taxes than before.
This is why the net impact of his proposals is such that while direct tax measures will result in a net revenue loss of Rs.4,500 crore ($900 million), the indirect tax changes will fetch a net revenue gain of Rs.45,940 crore ($9.1 billion) -- over 10 times more.
budget videos
Watch the footage of the Indian Union Budget 2013-14 presented by Finance Minister P Chidambaram on February 28.
Date 28-02-13, Duration 1:45:24, Views 127
Video by: MSN Video | Chidambaram hikes welfare budget to win India over Union Budget 2013: MSN Live Blog Budget 2013: Chidambaram increases spending, taxes the rich
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Budget disappoints tea traders of WB
Date 28-02-13 2:04Tooltip Information:
Budget disappoints tea traders of WBVideo by:Description: The Union Budget has disappointed the tea traders of Siliguri in West Bengal as it failed to take up their long-time demand of cutting import and export duties on tea.Rating: 4Views: 41 -
Main thrust of budget to control fiscal deficit: FM
Date 28-02-13 1:26Tooltip Information:
Main thrust of budget to control fiscal deficit: FMVideo by:Description: Union Finance Minister P Chidambaram has said the main thrust of the Union Budget 2013-14 was to signal to the world that the Government was following a fiscally prudent path to control fiscal deficit. The Minister added that he would announce another set of measures and decisions in Parliament soon to attract investors and boost growth.Rating: 4Views: 94 -
Indian Union Budget 2013-14
Date 28-02-13 1:45:24Tooltip Information:
Indian Union Budget 2013-14Video by:Description: Watch the footage of the Indian Union Budget 2013-14 presented by Finance Minister P Chidambaram on February 28.Rating: 2.33Views: 127 -
Budget 2013-14 highlights - Part 7
Date 27-02-13 2:09Tooltip Information:
Budget 2013-14 highlights - Part 7Video by:Description: Union Finance Minister P Chidambaram on February 28 presented the much awaited finance budget for 2013-14 in the Lok Sabha, stressing on the fact that India is not unaffected by what happens in the world, adding that the global recession is the main reason why the country's economy too has slowed down.Rating: 3.75Views: 285
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news videos
The water level of the Yamuna river has crossed the danger mark in Delhi, increasing the threat of flood. Locals are gearing to face the crisis as the rains are at least twice as heavy as usual in northwest and central parts of India.
Date 21 hrs ago, Duration 1:02, Views 1023
Video by: Asian News International | India clears Pakistani panel's Mumbai visit to probe 26/11 attacks BJP walks out from trust vote in Bihar Assembly UP announces Rs 25 crore aid to rain-hit Uttarakhand
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Yamuna crosses danger mark in New Delhi
Date 20 hrs ago 1:02Tooltip Information:
Yamuna crosses danger mark in New DelhiVideo by:Description: The water level of the Yamuna river has crossed the danger mark in Delhi, increasing the threat of flood. Locals are gearing to face the crisis as the rains are at least twice as heavy as usual in northwest and central parts of India.Rating: 5Views: 1065 -
Neil visits Bangla Sahib Gurudwara
Date 20 hrs ago 1:21Tooltip Information:
Neil visits Bangla Sahib GurudwaraVideo by:Description: Bollywood actor Neil Nitin Mukesh recently visited the Bangla Sahib Gurudwara in New Delhi and prayed for the success of his upcoming film 'Shortcut Romeo'.Rating: 4Views: 58
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