In my earlier post I have given my guess list. My list was correct by more than 3/4th.
What happened from my list:
- FM had done nothing for Dollar hit export industry including IT
- Increase in Defence spending
- Dividend tax was tweaked
- Income tax exemptions increased by good percentages
- 6th Pay commission was accepted
- Farm credits /benefits were announced
What didn’t happen from my list:
- Service tax rates were not changed (Good)
- A new committee for simplification didn’t happen (Good, we have had enough committees)
The points I liked about the budget:
- Promised allocation for Minimum Work / Employment schemes
- Pushing the states for more accountability on central funded projects
- Drinking water availability in all villages and in all schools in India
- Allocation of over Rs.200 Crores for Chennai’s Desalination plant
- Service tax for Customized Software (though I don’t like the tax, it at least put an end to all arbitration on whether it is applicable or not)
- No change in corporate tax rate (Good)