India finance Minister Pranab Mukherjee has cut personal income tax across various slabs.
There is a raise in the exemption limit to Rs 2 lakh for all individual tax payers. This will result in a savings of a minimum of Rs 2,000 for all tax payers.
The upper limit of 20% tax slab has been raised from Rs 8 lakh to 10 lakh - a saving of Rs 22,000 for people in this tax bracket.
The proposed tax slabs are as follows:
Income up to Rs 2 lakh - nil
Income between Rs 2 lakh to Rs 5 lakh - 10%
Income between Rs 5-10 kakh - 20%
Inncome above Rs 10 lakh - 30 %
Global crisis has affected us. India's gross domestic product (GDP) is expected to grow at 6.9 percent in 2011-12, after having grown at 8.4 percent in each of the two preceding years.
AC, gold jewelery, fridge, mobile bills and cigarettes willcost more. whereas
Cinema and films, SUVs, LCD and LED TVs, bicycles, housing society charges, LPG, mobiles, medicines for treating cancer and HIV to will cost less now.
Friday, March 16, 2012
Wednesday, March 14, 2012
Rail Budget 2012
Dinesh Trivedi -India Railway minister has presented his maiden Railway Budget 2012. There is an increase of 2 paise per km for suburban trains; 3 paise per km for mail and express trains. This is the first fare hike since last 10 years.
Highlights of Railway budget 2012:
Dinesh Trivedi announced 75 new express trains and 21 new passenger trains. He mentioned : safety is his first priority.
All meter gauge, narrow gauge sections to be made broad gauge, except heritage lines, by end of 12th Five Year Plan.New lines to be set up for Kolkata Metro.
Highlights of Railway budget 2012:
Dinesh Trivedi announced 75 new express trains and 21 new passenger trains. He mentioned : safety is his first priority.
All meter gauge, narrow gauge sections to be made broad gauge, except heritage lines, by end of 12th Five Year Plan.New lines to be set up for Kolkata Metro.
Wednesday, March 7, 2012
Brazil Economy Surpasses UK's Economy
Global Economy facing trouble of slowdown but as a surprise Brazil has become the sixth biggest economy of the world.
The Brazilian economy is now worth $2.5tn (£1.6tn), according to source.Brazil is enjoying an economic boom because of high food and oil prices, which has led to rapid growth.With substantial oil and gas reserves continuing to be discovered off Brazil's coast in recent years.
The country is now the world's ninth largest oil producer, and they are working to enter the top five.
The country will host the 2014 World Cup, and Rio de Janeiro will be home to the 2016 summer Olympics. Brazil is now giving challenge to other nations like Russia, China & India.
The Brazilian economy is now worth $2.5tn (£1.6tn), according to source.Brazil is enjoying an economic boom because of high food and oil prices, which has led to rapid growth.With substantial oil and gas reserves continuing to be discovered off Brazil's coast in recent years.
The country is now the world's ninth largest oil producer, and they are working to enter the top five.
The country will host the 2014 World Cup, and Rio de Janeiro will be home to the 2016 summer Olympics. Brazil is now giving challenge to other nations like Russia, China & India.
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