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9% GOI Senior Citizens Savings Scheme
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Budget 2007-2008
Budget
Source: Press Information Bureau
Union Finance Minister, Shri P. Chidambaram, Minister of State (Revenue) Shri. S.S. Palanimanickam and the Minister of State (E, B&I) Shri Pawan Kumar Bansal are also seen.
Budget 2007 Impact on IT Sector - A Snapshot
NASSCOM dismayed at proposal to extend MAT
"An Inclusive Budget" : CII President / Falls short of expectations on Corporate Taxes : R Seshasayee
FICCI President lauds big steps in social sector; expresses disappointment over tax proposals for corporate India
Ruias praise FM for striking balance between growth and inflation
Budget anti-inflationary - Prime Minister Manmohan Singh
Shri Deora Hails Union Budget 2007-08 as well balanced, long pending demand of oil industry met
Budget 2007-08: Infrastructure Continues to be a Focus Area
Industry Specific Proposals in Budget 2007-08: focus on Textiles, Handlooms and Coir Industry
PAN to be sole identification number, Mutual Funds permitted to launch infrastructure funds
Customs Duty Reduced on Non-Agricultural Products, Customs duty exempted on coking coal
Duty Reduction on Drip Irrigation Systems, import duty on medical equipment reduced, duty reduced on sunflower oil
Cigarettes to cost More, Pan Masala containing no Tobacco to Cost Less
Service Tax Exemption limit raised for small service providers, extends service tax net
Cement manufacturers holding the price line rewarded
Ad Valorem on Petrol and Diesel Reduced from 8 to 6 Percent, Water purification devices fully exempted from excise duty
Total Revenue Receipts Expected to be Rs. 486,422 Crore, Plan expenditure estimated at Rs.205,100 crores
Defence Allocation Enhanced to Rs. 96,000 Crore
Rs.500 Crore earmarked for commonwealth games in the current budget
Allocation for E-Governance Increased Substantially, support for E-governance at state levels increased to Rs.500 crores
Tax holiday for undertakings in J&K extended, CNG distribution networks entitled for tax concession
5 Year tax holiday for hotels in Delhi & Adjoining areas
Education Cess raised to 3 per cent, Surcharge on corporate income upto Rs.1 Crore removed
Exemption limit for cash transaction Raised to Rs. 50,000
Union Budget bring Esop under FBT, Dividend distribution tax raised to 15%

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