Union Budget 2011
Union Budget 2011
A stock broker watches the BSE screen as the markets jumped more than 500 points ending 122 points up at the end of the Budget day
Photo by Suryakant Vithoba
Rajan Mittal president FICCI,Naina kidwai of HSBC and other businessmen listening to FM's Budget Speach in new dlehi
Photo by Sanjay Sharma
India Inc watched the Budget speech viewing organised by the CII today as the Industry hailed the Budget as pro growth
India increased spending on infrastructure by 23% in Monday's budget and raised the limit for foreign institutional investors in corporate bonds for infrastructure, in a bid to overhaul the sector.
The pace at which India constructs power plants, highways and ports has for years lagged the demand of the world's second-fastest growing major economy, eating into growth and helped keep inflation uncomfortably high.
The government has of late talked up the need for spurring infrastructure growth and announced a $1.5 trillion spending splurge over a decade for the sector, though it has often fallen short of its funding and construction targets.
In his budget speech for the 2011-12 financial year, Finance Minister Pranab Mukherjee announced several initiatives -- some new and some long-pending -- and increased allocatio
Old men sitting as they chat among themselves during the Budget
Finance Minister Pranab Mukherjee today proposed to raise the income tax exemption limit for general tax payers to Rs 1.80 lakh per annum from Rs 1.60 lakh at present and introduced a high new tax slab for senior citizens aged 80 years and more.
Unveiling the Budget proposals for 2011-12 in the Lok Sabha, he also proposed to reduce the age limit for consideration as senior citizens from 65 years to 60.
Senior citizens will get tax exemption for income up to Rs 2.5 lakh, higher from Rs 2.4 lakh now.
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