Finance Minister Chidambaram has presented the Union Budget for 2013 – 14. Here are some of the main highlights of the budget
*. Service Tax on Film Industry scrapped.
*. Cigarettes, Mobiles, Imported Luxury Cars, SUV’s, High Capacity
Motorcycles, Set Top Boxes, DTH Services and Hotels to be costlier
*. Leather goods, Books, Footwear and Readymade garments will be cheaper.
*. Surcharge of 10% on persons who earn more than Rs. 1 Crore
*. New Sea Ports in Andhra Pradesh and Bengal.
*. No Change in Income Tax Slabs
*. TDS of 1 % on land deals over Rs. 50 lakh
*. 3000 km of road projects to be approved
*. Additional IT exemption of 1 lakh for taxpayer taking 1st home loan worth upto Rs 25 Lakhs
*. Excise rate, service tax rate unchanged
*. 4.5 % increase in Defence Budget at Rs. 2.03 trillion
*. Clean drinking water and sanitation projects allocated Rs. 15,260 Crores
*. Allocation of 1,400 Crores for fluoride affected areas
*. FM Radio in all cities that have a population of 1 lakh or more.
