Government raises income tax exemption limits; incentive for farm, exporters
The government Monday announced a slew of tax sops, including an additional Rs10,000 personal income tax exemption and scrapping of 10% surcharge, while announcing cheaper loans to farmers and incentives for export and infrastructure to attain nine per cent growth, reports PTI.

In tune with the poll promises made by the Congress and reflecting the pressures of the global financial...

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Insecure Bond
On 7th July, a day after the Budget was presented, government bonds crashed by 5%-6%. The debt market was jittery about the fact that the Budget had proposed a massive increase in deficit spending which will have to be financed by a large increase in government borrowing. The bulk of the fiscal deficit for FY10, pegged at 6.8%, will be funded by huge government debt. The Reserve Bank...
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Life saving drugs, LCD TV cheaper; Set-top-box turns costlier
Presenting the Union Budget for 2009-10, Finance Minister Pranab Mukherjee Monday proposed reduced customs duty on life saving drugs to 5% from existing 10%. Liquid crystal display (LCD) TVs would also attract the lower 5% customs duty, making the product cheaper.

Mukherjee, however, has imposed 5% customs duty on set-top boxes used for Direct-To-Home television service.

He also...

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