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	30 Dec 1899 \| Last Updated 04:44 IST

No changes in personal IT rates
NEW DELHI: Making no changes in the personal and corporate income tax rates, the Union budget for 2007-08 raised the threshold limit of exemption by Rs 10,000 giving a relief of Rs1000 to all individuals and brought down excise duty on petrol and diesel by two per cent as an anti- inflationary measure while cigarettes and bidis will cost more. Full Story

Hike to social sector, inflation high priority: PC
NEW DELHI: Finance Minister P Chidambaram in his Budget 2007-08 on Wednesday substantially hiked allocations for social sector and flagship programmes of the UPA government and announced that agriculture was to be given the highest priority to achieve the targeted growth rate of over 9 per cent. Full Story

Education, healthcare main focus of the Budget: PM
NEW DELHI: Prime Minister Manmohan Singh on Wednesday said the Prime focus of the Union Budget 2007-08 was on education and healthcare as he reaffirmed his government's commitment on increasing the spending on the social infrastructure. Full Story

Biscuits, food mixes to be cheaper; cigarette costly
NEW DELHI: Food mixes, biscuits, mouth freshener, footwear, water purifiers and filters, umbrellas, and low value cement would become cheaper while cigarettes, bidis, aircraft for personal use and set top boxes will be costlier as a result of budget proposals for 2007-08. Full Story

Allocation for rural health hiked to Rs 9,947 cr
NEW DELHI: Identifying HIV-AIDS and polio as major challenges in the healthcare sector, Finance Minister P Chidambaram proposed to increase the allocation in the 2007-08 budget for the National Rural Health Mission (NRHM) to Rs 9,947 crore from Rs 8,207 crore in the current fiscal. Full Story

1396 ITIs to be upgraded into centres of excellence
NEW DELHI: As many as 1396 Industrial Training Institutes (ITI) have been proposed to be upgraded into centres of excellence in specific trades and skills under Public-Private Partnership (PPP). Full Story

FM promises more jobs for physically challenged
NEW DELHI: To generate more jobs and help the physically challenged jobless people in the country, the Government in its 2007-08 budget on Wednesday promised to create one lakh more jobs for them and create two lakh vacancies for teaching fraternity. Full Story

Nothing in budget to tame inflation: Opposition
NEW DELHI: Finance Minister P Chidambaram’s budget failed to cheer some of the government’s allies, while the opposition was predictably peeved as it felt not much has been done to contain rising prices. Full Story

UPA's friends and foes attack budget
NEW DELHI: The Union Budget for 2007-08 on Wednesday drew flak from ruling UPA's friends and foes alike who dubbed it as anti-farmer, anti-common man and listless. Full Story

Opposition takes break from Quattrocchi during budget
NEW DELHI: Scenes in the Lok Sabha during presentation of the General Budget by Finance Minister P Chidambaram on Wednesday were quite in contrast with that witnessed two days ago when the railway budget was tabled in the house. Full Story

India Inc disappointed over budget
NEW DELHI: Indian industry on Wednesday expressed disappointment over Finance Minister P Chidambaram's budget for 2007-08, raising concerns on lack of measures to increase productivity and for losing an opportunity to provide relief to the corporate sector. Full Story

• Income tax limit not to be changed
• Minimum alternate tax being extended
• Five year tax holiday for star hotels
• Service tax on residents welfare associations
• Dividend distribution tax raised to 15 per cent
• Surcharge on corporate income tax removed
• Deduction on medical insurance increased
• Excise duty on cement reduced to Rs.350/tonne
• Excise duty on mouth fresheners cut
• Specific rates of excise duty on cigarettes increased
• Water purification devices exempted from excise duty
• Bio-diesel to be exempted from excise duty
• Food mixes to be exempted from excise
• Excise duty for plywood reduced to 8 per cent
• SSIs excise duty exemption to Rs 1.5 crore
• 3 pc import duty on private importers of aircraft
• Duty reduced on watch dials and movements and umbrella parts
• Duty on sunflower oil and pet food cut
• All coking coal fully exempted from duty

• One-lakh jobs for physically challenged
• 1,396 ITIs to be upgraded to achieve technical excellence
• Scholarship of Rs 6,000 per child to check dropouts
• AIDS control programme to get Rs 969 crore
• 5,763 water-bodies in Tamil Nadu to be revived
• Full subsidy for small farmers for water recharging scheme
• Women's development allocation will be Rs.22,282 crore
• Scholarships programme for minority students
• SC/ST scholarships to get Rs.611 crore
• SCs and STs schemes to get Rs 3271 crore
• Rs 800 crore for Sampoorna Gram Rozgar Yojana
• National AIDS control programme to achieve zero level disease
• Rs 1290 crore to be provided for elimination of polio
• Two lakh more teachers to be employed
• Five lakh more classrooms to be constructed
• E-governance allocation to be increased to Rs.719 crore
• Backward regions grant fund to be raised to Rs 5800 crore
• Defence allocation increased to Rs 96,000 crore
• Investors to be allowed investment in overseas capital markets
• Insurance companies to launch a senior citizens scheme
• Northeastern region will get Rs 405 crore for highway development

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