Union Budget 2011 Highlights
Income-tax exemption limit raised
FM has accounced to increase the exemption limit of Income tax liability from 1.6 lakhs to 1.8 lakhs. This measure has assured a saving of at least Rs. 2000 to every tax payer in this slab.
Defence budget hiked to Rs 1.54 lakh crore
The Finance Minister announced that the Defence sector will get more than 1.64 trillion (1.64 lakh crore rupees) for defense budget. It's an increase of more than 4% from last year.
Excise duty on 130 new items
Pranab Mukherjee announced 1% Excise duty on 130 new items. These items exclude food products clothes and daily utilities. Besides this, the base rate on excise duty has also been raised to to 5%.
Rail Budget 2011 Highlights
Mamta's Railway Budget termed as 'Biased'
The railway budget 2011, presented by Mamta Banerjje has been called as Bengal rfail Budget by former railway minister Lalu Prasad Yadav. Mamta allocated many soaps including 34 new metro-trains in Kolkata, a rail park in Nandigram, a track-machine factory at Uluberia and many other perks
E-booking charges reduced, No hike in fares
Abidibg to her "common man budget", railway minister Mamta Banerjee has announced that there will ne no hike in passenger fares. However, the E-booking charges have been redued to facilitate the passengers.
New trains introduced
Mamata Banerjee annouced a fleet of new trains to be introduced on many routes of Indian railways. 9 new Duronto trains, 3 Shatabdi's and 56 super Fast trains are set to run to e a aprt of travel in India.
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