INDIAN BUDGET 2012 - GOOD FOR PEOPLE ???

NEW DELHI: In order to improve the Indian economy, the finance minister Pranab Mukherjee has promised many subsidies and modify the entire tax system of India. In his announcement, he pointed out that it was really disappointing that the inflation grew up to 6.9% this year. Mukherjee said that India 12th five year plan would be focusing on domestic recovery, private investment, triggering malnutrition etc.

Key Points Of Annual Budget:

• Service Tax increased from 10% to 12%
• Airlines passengers would be given better services and there would be decline in ticket prices
• Indian irrigation system and fertilizers would be improved
• Tax exemption increased to Rs.2 lakh

Agriculture:

• Food prices are expected to go down
• Agricultural credit is from Rs.one lakh crore to 5.75 lakh crore

General:

• Power, housing and maintenance of roads would be also considered.
• A number of super multi-malls would be set up to improve India's brand.
• Improvement would be made in small scale business.

Indian railways has tried to reconstruct the railways through the annual railway budget of 2012. Railway minister Dinesh Trivedi has announced to modify the railways to give it a professional and business oriental touch. The annual budget has been remarked by opposition as a deceitful budget. They expect the government to be straight forward. 

As a whole the budget provides more facilities to aviation sector. Defense of India hikes to a price of Rs.1,93,007 crore. Many of the countries' automobile industries announced to hike their prices of vehicles. Honda, maruti, M&M are the companies which announced to increase the vehicle prices. Congress ministries termed the budget as balanced, while some of the opposition leaders said it was disappointing as a whole.