The Great Debate (India)
Mukherjee’s budget announcements include provisions that will see an increase in the take-home component of an individual’s salary.
Income tax exemption has been hiked by 15,000 rupees for senior citizens and 10,000 rupees for the other categories.
Some of the other proposals include elimination of 10 percent surcharge on IT and scrapping of fringe benefits tax (FBT).
The task before the finance minister is tricky as the Congress-led government gears up to present the annual budget for 2009-10 on July 6.
Reuters India asks its readers to don the FM’s cap and tell us what shape they would give to the budget to keep a country of over 1 billion people happy.