Friday, February 29, 2008

Chidambaram to present `Budget 2008-09` today

The Indian Finance Minister P. Chidambaram will present the General Budget 2008-09 in the Lok Sabha today, February 29.

He will later address the post-budget press conference in New Delhi.

This being the last full budget of the UPA government, every segment of the society, including the individual taxpayers and the corporate, can expect some relief. With buoyancy in tax collections, Chidambaram is expected to announce a bonanza for each constituency through personal and corporate income tax cuts, excise duty relief and simplification of taxes and massive funds for farm, rural employment and other social projects.

The Economic Survey, tabled in the parliament on Thursday, has projected fiscal deficit to be further pruned to 3% in the next fiscal.

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