Budget has failed to enthuse markets but there are some interesting announcements that were made today by Finance Minister in his budget speech 2013-14:
SED on cigarettes hiked by 18%, a jump in the price of smokes could be expected. Smartphones are to cost more.
Excise duty on non-taxi SUV raised by 30%.
He also said that abatement rate on luxury apartments is set to get reduced.
He also announced a One time amnesty from service tax from 2007.
To exempt vocational courses, testing SVCs from service tax
To impose service tax on all AC restaurants
Sops for low cost housing to continue.
Rs.2.31lakh crore is the total subsidy to be given this fiscal.