Budget – GKTODAY-GENERAL KNOWLEDGE TODAY AND CURRENT AFFAIRS

Union Budget India 2011 Highlights

On: April 10, 2011

In: Economics, Indian Government Projects/Schemes

Standard rate of excise duty held at 10 percent; no change in CENVAT rates. Personal income tax exemption limit raised to Rs 180,000 from Rs 160,000 for individual tax payers. For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh. Citizens overContinue Reading

Budget and Budget Terms

By: gktoday

On: February 27, 2011

In: Banking Terms

The Budget is a detailed plan for a measured period, setting goals and outlining resources to meet them. It also gives details of tax revenues and other receipts besides a general break-up of expenditure, allocation of plan outlays by sectors as well as by various ministries. Important Budget Terms RevenueContinue Reading