The Finance Minister gives with one hand, and takes away with the other. Income-tax exemption limits are raised marginally, but you will get hit on more items for service tax. And this is assuming that your food costs will drop a bit if Pranab Mukherjee's Rs 300-crore magic formula works.
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Senior citizens are the main beneficiary in the latest budget. Mukherjee has reduced the age limit for classification as a senior citizen from 65 years to 60 years.
Unveiling the Budget proposals for 2011-12 in the Lok Sabha, Mukherjee also proposed to reduce the age limit for consideration as senior citizens from 65 years to 60.
FM Pranab Mukherjee decided to maintain the standard rate of central excise duty in order to see improved business margins translated into higher investment rates.
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