FM has accounced to increase the exemption limit of Income tax liability from 1.6 lakhs to 1.8 lakhs. This measure has assured a saving of at least Rs. 2000 to every tax payer in this slab.
The Finance Minister announced that the Defence sector will get more than 1.64 trillion (1.64 lakh crore rupees) for defense budget. It's an increase of more than 4% from last year.
Pranab Mukherjee announced 1% Excise duty on 130 new items. These items exclude food products clothes and daily utilities. Besides this, the base rate on excise duty has also been raised to to 5%.
Read more on Union Budget 2011
The railway budget 2011, presented by Mamta Banerjje has been called as Bengal rfail Budget by former railway minister Lalu Prasad Yadav. Mamta allocated many soaps including 34 new metro-trains in Kolkata, a rail park in Nandigram, a track-machine factory at Uluberia and many other perks
Abidibg to her "common man budget", railway minister Mamta Banerjee has announced that there will ne no hike in passenger fares. However, the E-booking charges have been redued to facilitate the passengers.
Mamata Banerjee annouced a fleet of new trains to be introduced on many routes of Indian railways. 9 new Duronto trains, 3 Shatabdi's and 56 super Fast trains are set to run to e a aprt of travel in India.
Capture all the information related to India Budget (2010-11) here.
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