The Major Highlights of the Union Budget 2010-11
The budget 2010 which was presented by our Finance minister Mr. Pranab Mukharjee today in the Parliament was welcomed by the markets with full honor. The Dalal street was delighted with the announcement made by the finance minister in the annual report cars. Although it was a populist budget but almost all segments of society and all stakeholders welcomed the move except the opposition which moved out of the house during the budget speech (this has happened for the first time in Indian History) . Major announcement were :-
- Hike of excise duty by 2 %
- Making Direct and Indirect Tax code more simpler
- Increasing the tax bracket for 10% upto Rs.5,00,000 as compared to Rs.3 Lacs earlier
- Implementation of GST by 1-Apr-2011
- Major sectors have helped improve economic condition
- Increase in fuel prices by Re.1 which may hit hard to aam admi
- Attempts to make growth inclusive where all sectors of society are involved
- Budget pointed to the need of strengthen food security
- Promotion to clean energy projects
- Simplification of tax procedures
- Less taxes for small traders and professionals
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