Union Budget 2007-2008

Finally Finance Minister rolled out his budget for 2007-2008 today.

It was not so as expected two three weeks before, a 'DREAM Budget', but is a good budget according to my view.

His budget has some (even little) feathers for AAM AADMI and all too.

Highly concentrated for education (included scholarship for 1 lac student in a year who were dropping school after 8 th std), inflation rate (reduced excise duty for most common food mixtures!), agriculture , and Textiles (this budget is more favorable for textile industry).

As for as (genuine) tax payer (like us!?!)concern, he increased the threshold limit of tax free income from 1 Lac to 1.1 lac for all, 1.35 Lac to 1.45 Lac for women and for senior citizen it is hiked to 1.95 lac from 1.85 lac. He didn't do any reformation in the slabs (most of the analysts expected Kelkhars recommendation may included with the reintroduction of 80 L for Senior Taxpayers), but he hiked the education cess from 2% to 3% ( the raised 1 percent will be used for the secondary education schemes).

So... It is a good budget so far.


For more readings on the budget and its highlights..
http://indiabudget.nic.in/ub2007-08/ubmain.htm
http://www.rediff.com/money/budget07.html