Fringe Benefit Tax abolished | Tax slab raised to Rs 1.6 lakh | Rice, wheat at Rs 3 per kg to poor New Pension Scheme introduced | No change in Corporate tax | Budget expenditure of 2009-10 at Rs 10,28,032cr Products that became cheap Footwear, LCD TVs, Branded Jewellery, Drugs for heart treatment, Textiles, Bulk drugs Products that became expensive Set-top boxes, Gold and Silver import, Gold Bars, Mobile phones • Rural jobs scheme is allocated Rs 39,000 cr • Small businesses exempt from advance tax • Surcharge of 10% on personal income tax eliminated • Commodity transaction tax to be axed • Commonwealth allocation hiked to Rs 16,300 cr • 8% excise duty on man-made fibre restored • Tax holiday extended for textile units • Custom duty on set top boxes now at 5 per cent • Poliical funding gets 100% tax reduction • Tax holiday for exporters has been extended till 2011 • MAT hiked to 15% of book profit • There is an hike in IT exemption for women to Rs 1,90,000 • IT exemption by Rs 15
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