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Union Budget 2013 – What is costlier and What is cheaper?

Finance Minister Chidambaram has presented the Union Budget for 2013 – 14. Here are some of the main highlights of the budget

  • Service Tax on Film Industry scrapped.
  • Cigarettes, Mobiles, Imported Luxury Cars, SUV’s, High Capacity Motorcycles, Set Top Boxes, DTH Services and Hotels to be costlier
  • Leather goods, Books, Footwear and Readymade garments will be cheaper.
  • Surcharge of 10% on persons who earn more than Rs. 1 Crore
  • New Sea Ports in Andhra Pradesh and Bengal.
  • No Change in Income Tax Slabs
  • TDS of 1 % on land deals over Rs. 50 lakh
  • 3000 km of road projects to be approved
  • Additional IT exemption of 1 lakh for taxpayer taking 1st home loan worth upto Rs 25 Lakhs
  • Excise rate, service tax rate unchanged
  • 4.5 % increase in Defence Budget at Rs. 2.03 trillion
  • Clean drinking water and sanitation projects allocated Rs. 15,260 Crores
  • Allocation of 1,400 Crores for fluoride affected areas
  • FM Radio in all cities that have a population of 1 lakh or more.

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