Budget 08 - A populist measure

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The budget session gives a good opportunity to start re-blogging. The Finance Minister as expected (due to coming polls) delivered a populist budget. The salaried people have definitely benefited by the budget with:
  • Increase in basic exemption limit
  • Doubling the slab limits
  • Increasing medical insurance limit by adding parent's insurance cover
  • Tax Free monthly income from reverse mortgage
The budget allows more income in-hand for a salaried employee along with indirectly opening routes for higher expenditure.

If you are earning in Sikkim state, you benefited the most. FM has removed all tax-liability for individual earning in Sikkim state. This budget has given no heed to the IT-industry (especially export oriented IT companies) and the shining days seems to be over for them.