Follow us on   Twitter   Facebook   Explore Trade Now Feedback
Budget 2013 »Headlines»Headlines Details
Headlines Details
Back

Govt may raise tax exemption limit in Budget: Goldman

Press Trust of India / New Delhi 22 Feb 11 | 09:23 PM
126 Replies

The government may raise the income tax exemption limit in the upcoming Budget to provide some relief to the taxpayer from inflation, Goldman Sachs said today.

"Income tax relief can be provided to lower income brackets to compensate for inflation. This could take the form of raising the tax exemption limit from the current Rs 1.6 lakh," it said in a report.

Presently, income up to Rs 1,60,000 is exempted from tax for individuals. For women and senior citizens, the limit is Rs 1,90,000 and Rs 2,40,000, respectively.

Inflation continues to be a concern for the common man as well as the government.

While the food inflation had touched 18.32% in December, 2010, before being moderated to over 11% this month, the overall inflation still stood above eight% as against the comfort level of 5-6%.

Goldman also expects the fiscal deficit for the current fiscal to reduce to 4.9% of the GDP against 5.5% estimated in Budget 2010-11.

The reduction is largely due to the windfall on 3G telecom auctions and disinvestment proceeds.

"For 2011-12, even with revenue measures and slower growth in expenditures, we expect the central deficit to be slightly higher at 5% of GDP, largely as the one-off revenues would be considerably reduced", it said.

The government mobilised over Rs 100,000 crore from the 3G and Broadband Wireless Access (BWA) auctions in the current fiscal.

Besides, the government raised over Rs 15,000 crore by listing Coal India on the bourses, apart from Rs 6,000 crore from Powergrid Corporation, MOIL, Engineers India, Shipping Corporation and Satluj Jal Vidyut Nigam, taking the disinvestment proceeds to over Rs 21,000 crore.




126 Replies

Comments

    27 Jan 22 at 10:38 AM
By: ElijahMiller

I recently discovered your blog and wanted to express my gratitude for taking the time to go through your postings. Spells to make him call you

    24 Jan 22 at 01:14 PM
By: AllegroMiller

Very nice! informative post you have posted here. spell to make him call me

    20 Jan 22 at 02:09 PM
By: HeldaNate

This is an engaging material. Thank you so much for caring and helping us . revenge spells that work

    19 Jan 22 at 08:48 PM
By: sadegh77

بهترین سایت برای خرید اکانت اینستاگرام مطمئن و فوری

    18 Jan 22 at 05:14 PM
By: lunabeth4598

Ij scan utility comes packed with interactive features to ease your scanning for an unmatched experience.It also offers you to incorporate with such third-party applications and software by exporting your scanned items to the required service. ij scan utility | ij scan utility download | ij canon scan utility

    18 Jan 22 at 05:14 PM
By: jasmine4532

HP wireless printer is a versatile printing device that helps you print, scan, copy and fax your documents as per the requirement. www.hp.com/go/wirelessprinting

    18 Jan 22 at 09:01 AM
By: NirvedPerez

I am planning for a task and this has given me more trust in setting up my first blog. how to win over a Capricorn man

    10 Jan 22 at 11:19 AM
By: CorinneDonon

I just want to let you know that I just check out your site and I find it very interesting and informative. I can't wait to read lots of your posts. surah taha for love marriage

    04 Jan 22 at 05:06 PM
By: AdaShipman

Wow great post! Thankyou for sharing the information, its very helpful!!! wazifa for love on photo

    04 Jan 22 at 01:45 PM
By: TerryRuffin

I am glad to have found this informative blog!! I found some very helpful information in your blog! Thanks for sharing this. love marriage ka taweez

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | | Next




Leave a reply


Name: 
Email: * 
Comment: *
(Max. 1000 characters)
 
Word Verification: * 
 Comment 
Quick Jump

Budget Glossary

  • Appropriation Bill: It is presented to Parliament for its approval, so that the government can withdraw from the Consolidated Fund the amounts required for meeting the expenditure charged on the Consolidated Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is enacted.

Budget Trivia

  • Pranab Mukherjee's first Budget in 1982 included one provision that set the stage for India Inc's most celebrated takeover battle.
Widgets Magazine