UNION BUDGET -2008

Hi pals,

After the railway budget ,I am giving you the most important proposals of the Union budget framed by Mr.Chidambaram.This union budget is mainly a pro-agriculture budget,as it should be because of the large number of suicides committed by the farmers.
The proposals of the budget are
1.Rs.60,000 crore waiver of farm loans to benefit 4-crore farmers.
2.Tax exemption limit raised to Rs.1.5 lakhs as against the previous figure of 1.10lakhs.
3.Tax exemption raised to Rs.1.8 lakhs for women.
4.Tax exemption raised to Rs.2.25 lakhs for senior citizens.
5.Tax slab for Rs.1.5 to 3 lakh group is 10% per annum
6.Tax slab for Rs .3 to 5 lakh group is 20% per annum
7.Tax slab for Rs.5 lakh and above is 30% per annum
8.10% higher allocation of funds for Defence.
9.Customs duty on small cars and two wheelers down to 12% from 16%
10.16 new universities including three IITs at Bihar,Rajasthan and Andhra Pradesh and three IISCs(INDIAN INSTITUTE OF SCIENCE)