Here is what you gain and what you lose on account of the budget proposals presented by Finance Minister Pranab Mukherjee Friday:
Gains:
– Minimum exemption limit for income tax raised to Rs.2,00,000 from Rs.1,80,000
– Tax slabs raised: In Rs.2-5 lakh bracket levy will be 10 percent, for income between Rs.5-10 lakh levy would be 20 percent and above Rs.10 lakh it is 30 percent
– Further exemption of Rs.5,000 for those going for preventive health check-up
– LCD, LED television sets will become cheaper due to excise duty cuts
– Life saving drugs, branded ready made garments will cost less
– Electric vehicles may cost less as duty breaks extended to batteries
Losses:
– Most daily use items will be dearer as excise duty on manufactured goods is raised
– Treatment in private hospitals will cost more
– Air travel, hotel stay, hiring a lawyer is going to cost more
– Luxury cars, gold, polished gems to become dearer
– Cars whose length is more than four metres and engine capacity (1,200 cc for petrol) (1,500 cc for diesel) will be costlier
– Smokers and tobacco users will pay more for cigarettes, beedis, pan masala
– Buyers will have to shell out more for liquor too