Small investors welcome I-T exemption limit hike

The National Association of Small Investors (NASI) today complimented the government for increasing the income tax exemption limit for the salaried class and also for senior citizens called the Budget provisions "growth-oriented" and beneficial to the common man.

Reacting to announcements made in the Budget speech by Union Finance Minister Pranab Mukherjee, NASI President Pradeep Bhavnani welcomed the move to give tax rebate in infrastructure bonds up to Rs 20,000.

Bhavnani also hailed the excise duty concessions in some consumer products as a "welcome step" and "beneficial" to consumers.

He also welcomed the move to give loans to farmers at subsidised interest rates and said cases of suicides among them would fall because of availability of such loans.