union budget-2010 - a relief for masses

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The budget presented by the finance minister Sri Pranab Mukherjee , has brought amendments to some areas which are very helpful for the common people, like the raise in the income tax slabs i.e. from 1,60,000-5,00,00 @ 10% and from 5,00,000-8,00,00 @20% and above 8,00,00 @ 30% , thereby giving the general public more money in their hand in this time of heavy food price of the necessity goods. This will help in reducing the tax burden and increasing the standards of living of the people as they will have more money in hand. The budget was very good for the masses but on the corporate front it was not that great as there has been no direct incentives only a decrease in surcharge from 10% to 7.5% but at other areas there have been pressures as Minimum Alternate Tax (MAT)has been increased from 15% to 18%. Also there has been increase in excise duty from 8% at 10% at general level and specifically a higher percentages on the tobacco based products, initially the burnt will be felt by the companies but ultimately in the end it will have to be bear by the common people. So at this point it is not advantageous for the masses. But for the masses against expectations there has been no increase in service tax which everyone thought of and there has been a decrease in the import duty, so that the goods can be imported at a cheaper rate. The amount of saving in the Income Tax is really a big bonus and boos for the masses. Wat everybody thinks about it.