| Union Budget 2002-03 Highlights |
HIGHLIGHTS:
• Two per cent earthquake tax abolished
• False PAN number to be punished with Rs 10,000 fine
• NHB bonds exempt from capital gains tax
• Multiplex theatres in non-metro cities to get tax relief
• Corporate tax for foreign companies down to 40 pc from 48 pc
• IT capital goods import duties reduced by 15 pc
• No change in personal, corporate income tax rates
• Cell phone, handphones to be cheaper
• Custom duties on pulses (daal) goes up
• Custom duty on cement reduced by 5 pc
• Cenvat on liqour reduced
• Click here for more highlights
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Edible Oil May Be Delisted From SSIs’ Reserved List |
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The Union Budget is likely to announce removal of edible oil from the reserved list of small scale sector and introduction of suitable changes in the Milk and Milk Products Order for dezoning the reserved areas for milksheds, sources in the food processing ministry stated. February 28, 2002 Full story |
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Rs 7,000Cr Recapitalisation Package Likely For Co-ops |
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Finance minister Yashwant Sinha is likely to announce on Thursday a phased recapitalisation of the cooperative credit structure at an estimated cost of Rs 7,000 crore. February 28, 2002 Full story |
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FMs Not Used To Two Negative Things In One Budget: Debroy |
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Finance ministers are traditionally not interested in handling two negative factors in a single Budget. So, if the FM is putting his hands on subsidies in the Thursday’s Budget, he might not be in a position to resort to cut small savings rates. February 28, 2002 Full story |
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Rs 6,500 Cr Likely For External Aid Projects |
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A total sum of Rs 6,500 crore is likely to be assigned for external aid projects in Union Budget 2002-03, which, for the first time, will have a separate provision for it. February 28, 2002
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