Vol. 6 No. 2: October 2011
The Finance minister Hon’ble Sh. Pranab Mukherjee told in his budget speech presenting Union Budget for 2010-11 that Indian Economy now is in a far better position than it was a year ago. The economy clocked a GDP growth of 6.1 percent in the first quarter of 2009-10, as against 5.8 percent in the fourth querter of the preceeding year. In the budget 2010-11, the Government provided relief to individual taxpayers by enhancing the exemption limit for all taxpayers and withdrawing the surcharge on persent income tax. To promote savings, a deduction of additional amount of Rs. 20,000 for investment in long term infrastructure bonds is declared but the rate of service tax has been raised to 12 per cent. The fiscal deficit is estimated 5.5 percent of GDP in 2010-11 which amount to Rs. 381408 crore. In the above shade of the country, we managed to give matching topics in the current issue.
Published:
01-11-2011
