Nothing big bang; disappointing overall
- Surcharge on personal tax scrapped.
- Fringe benefit tax scrapped.
- Personal tax limit increased to 2.4 lakhs for senior citizens , 1.9 lakhs for women, 1.6 lakhs for others
- No change in Corporate tax.
Only small changes in terms of personal tax — which means people will have a little more to spend. Perhaps this will benefit FMCG. Certainly not enough for housing.
Full text of Pranab Mukherjee’s Speech: http://indiabudget.nic.in/ub2009-10/bs/speecha.htm
Coverage on Yahoo Finance: http://in.budget.yahoo.com/live-coverage.php