Economic Survey 2007-08    BUDGET DOCUMENTS Key to Budget Budget Highlights Budget Speech Budget At a Glance Annual Financial Statement Finance Bill Memorandum Receipt Budget Expenditure Budget Customs and Central Excise Notifications Implementation of Budget Announcements The Macro Economic Framework Statement The Medium Term Fiscal Policy Statement The Fiscal Policy Strategy Statement    DETAILED BUDGET HIGHLIGHTS Budget 2008-09: Excise duty on petrol, diesel reduced to a flat Rs1.35 Budget 2008-09: Education allocation up 20 per cent at Rs34,400 crore Budget 2008-09: Increased penetration of IT and ITeS in rural areas Budget 2008-09: Risk capital fund proposed for micro, small and medium enterprises Customs & Central Excise Customs:Non-Tariff Budget 2008-09: Government to encourage investment, increased listing of CPSEs Budget 2008-09: UPA's flagship social programmes given increased allocations Budget 2008-09: Income tax exemption limits hiked Budget 2008-09: Rs60,000-crore giveaway to farmers in poll-bound budget Budget 2008-09: Fiscal deficit pegged at 2.5 per cent of GDP Budget 2008-09 Highlights      REACTIONS Fitch says India's Union Budget 2008-09 proposals positive for state governments Indian economy to grow despite global uncertainties: IMF Budget exceeds expectations Budget an economic - political balancing act: K Ramakrishnan, Spark Capital Budget will promote demand Additional weighted deduction for R&D, incentives for export would have been welcome A well-balanced exercise More reactions Reactions to Budget positive Budget will stimulate economy Focus on long term economic growth Neutral to Positive Progressive budget Hybrids, lower tax on crude welcome Budget scores an 8 on 10 Rather flattering for the FM's finances Commodities market dumped with service tax, without benefits to stock markets Another lost opportunity for the insurance sector Beneficial and fair for the jewellery sector, but for excise rationalisation for branded jewellery PM hails budget as pro-agriculture, investment    COMMENT Budget trims exporters` subsidy by Rs600 crore A simple direct tax plan for the next budget Why this budget is visionary Expenditure overruns may result in downgrade of India's credit rating: S&P Farm loan waiver - mother of all moral hazards Despite resilience, Indian economy vulnerable to global developments It is as it should be… a no-surprise budget Populism to the fore    SPECIAL REPORTS Finance minister to reveal alternative for loan waiver expenditure Ford cuts price of Fusion diesel by Rs22,000 Fiat, Bajaj cut auto prices Honda Motorcycle and Scooter announces price cut Budget pushes C-segment cars in a tight corner Sports gets a leg up in this Budget; sports goods may become cheaper Auto price cuts: Some announced, some expected soon Mobile phones costlier, broadband cheaper after Budget 2008 Maruti cuts car prices up to Rs18,000; Hyundai follows with cuts of up to Rs19,000 Farm loan waiver a historic step, says Sonia Gandhi Industry cheers `balanced, growth-oriented' budget Service tax net expanded, collections grow manifold Centre to assist desalination project near Chennai Budget implications for the auto sector Loan waiver may not help Vidarbha farmers Banks expect a bonanza from farm loan waiver    PRE-BUDGET REPORTS Budget 2008: Automotive industry wish list IMC’s expectations from Budget 2008-09 Good times ahead for consumer durables: FICCI Ahluwalia calls for reduction in taxes on petrol, diesel; Left parties join the chorus Address the rising rupee in this Budget: Gautam Singhania, chairman and managing director, Raymond Ltd A reminder to the finance minister Expectations from the Union Budget 2008: D&B Pre-budget bytes: Karthik KS, 24x7 Learning Budget 2008: expectations of the electrical and lighting sector Budget 2008: Aviation industry wants high aviation fuel prices brought down Hotel association of India submits pre-budget memorandum DMAI offers Pre-Budget Proposal to finance minister Boost consumer spending to recharge economy: Rangarajan Commerce ministry against customs duty cut in Budget 2008 FM starts pre-budget meeting sessions with agricultural experts India Inc not expecting any tax sops in 2008-09 budget: Assocham survey Gems and Jewellery export promotion council files pre-budget memorandum Civil Aviation ministry seeks rationalised tax structure from the Budget CNBC Awaaz brings the ‘Tax Ghatao Andolan’ to Mumbai Tax our cars, not our buses: CSE pre budget expectation MAIT calls for stable hardware policy NASSCOM provides its pre-budget 2008 wish list to the Finance Ministry A letter to the finance minister Cement Manufacturer’s Association pre-budget memorandum for 2008-09   EXPECTATIONS AT A GLANCE Pharmaceuticals and Healthcare Markets Information Technology Others Indirect Taxes Energy and Infrastructure Direct and Corporate Taxes Banking and Finance Aviation and Aerospace Agriculture

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