Prime Minister Manmohan Singh on Monday said the Budget was aimed at consolidation of fiscal deficit and moderation of taxes and will meet challenges of the economic growth of the country.

New Delhi: Bringing some cheer to the industry, Finance Minister Pranab Mukherjee today lowered the surcharge tax limit on corporate tax to five per cent from 7.5 per cent even while marginally raisi

Following is the table of new income tax slabs proposed by Finance Minister Pranab Mukherjee in Budget 2011-12

INCOME TAX RATE

1. General Tax Payers

Up to Rs 1,80,000NIL Rs 1,80,001 to Rs 5,00,

The exemption limit for general category of tax payers has been enhanced to Rs 1.8 lakh from Rs 1.6 lakh in the 2011-12 general Budget.

New Delhi: The Youth Affairs and Sports Ministry has been allocated Rs 11.21 billion in the Budget for 2011-12, which is nearly one-third of last year's Rs 33.16 billion.

In his Budget presented in

New Delhi: Highlights of the budget for 2011-12 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Monday:

Expenditure in 2011-12 estimated at Rs.12,57,729 crore, an increase of 13.4

Investors cheered the Budget 2011-12 on Monday pushing up the Sensex nearly 600 points before profit-booking erased gains as the BSE benchmark index closed at over 17,823, up about 122 points.

Prime Minister Manmohan Singh's embattled government will likely boost spending on social programmes in a populist Budget on Monday, even as India is threatened with a potentially ballooning subsidy bill for food and fuel.

Cheering Budget proposals enhancing FII limits and slashing the surcharge on corporate tax, the Bombay Stock Exchange benchmark Sensex was trading over 550 points higher at mid-session on Monday.

Following is the list of items, the prices of which, Pranab Mukherjee has decided to change.

Items to be cheaper:

* Mobile phones
* Refrigerators
* Home loans
* Cement