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.