Budget 2008 Highlights
>Waiver of all loans for marginal and small farmers.
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Budget 2008 Highlights
>Waiver of all loans for marginal and small farmers.
>Rs. 20,000 crores allocated for irrigation.
>24 major irrigation projects will be completed this year.
>Gross capital formation in agriculture was 12.5% in 2006-2007 : Finance Minister.
>Rs. 540 crores for development of minority dominated areas.
>Rs. 300 crores for Desalination Plant near Chennai.
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>Threshold limit for taxes for senior citizens Rs. 2,25,000.
>15% increase in taxes for short-term capital gains.
> Higher rates of taxes for both filtered and unfiltered cigarettes.
>Rs. 450 per metric ton excise duties on cement clinkers.
>Excise duties eliminated on set-top boxes for televisions.
>30% tax for income over Rs. 5,00,000.
>Surcharge on corporate tax remains unchanged.
>No changes in corporate tax rate
>Exemption of taxes for persons paying medical insurance premium for parents.
>Threshold limit for taxes for women Rs. 1,80,000.
Rs. 3,00,000 to 5,00,000 to be taxed at 20% rate.
Rs. 1,50,000 to 3,00,000 to be taxed at 10% rate.
Threshold limit for taxes increased to Rs. 1,50,000.
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Good info. Thanks world finance
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