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Friday, July 9, 2004, Chandigarh, India
Updated at 3:00 am (IST)

IT exemption limit raised to Rs 1 lakh

Tractors, computers to cost less No tax on pension of armed forces’ kin 2 pc education cess levied Interest on small savings unchanged
Budget News
New Delhi, July 8 
In a highly innovative “Aam Admi” Budget, Finance Minister P. Chidambaram today sought to shift the terms-of-trade in favour of the rural economy where 80 per cent of the country resides and raised the income tax exemption limit to Rs 1 lakh while enhancing the defence budget by about Rs 12,000 crore.

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In videos: 
Government targets deficit, poor in first budget. (28k, 56k)
Congress, Left parties laud Union Budget 2004-05. (28k, 56k)

Editorial: A commendable budget
Business: Carrot to industry, stick to market and more

Union Finance Minister P. Chidambaram arrives at Parliament to present the Budget for the fiscal year 2004-05 in New Delhi on Thursday.
Union Finance Minister P. Chidambaram arrives at Parliament to present the Budget for the fiscal year 2004-05 in New Delhi on Thursday. — Tribune photo by Mukesh Aggarwal

OTHER PAGES

PUNJAB: SGPC poll: Badal seeks Kalam's intervention

HARYANA: MLA’s ‘wife’ denies being used by his rivals

J&K: Nine killed, 40 injured as bus falls into gorge

HIMACHAL: Budget pro-poor, says Virbhadra

DELHI: Centre tells UP to improve law & order

CHANDIGARH: Man shoots at wife’s uncle

LUDHIANA: 20 vehicles with hi-tech gadgets to monitor highways

OPINIONS: A commendable budget

BUSINESS: Carrot to industry, stick to market

NATION: Avoid misleading reports, new Governor tells scribes

WORLD: Atomic body detects Khan’s contacts in 20 nations

SPORTS: Team needs consistency, says Ganguly

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Steep hike in defence outlay
New Delhi, July 8
Dropping previous NDA government’s proposal of having a three-year revolving fund for the armed forces, the Congress-led UPA Government, as expected, has kept defence high on its priority list with Finance Minister P. Chidambaram announcing a whopping almost 28 per cent increase in the defence budget.

Kerosene, LPG price hike likely
New Delhi, July 8
The oil companies may soon be forced to increase the price of LPG and kerosene as Finance Minister P Chidamabaram today did not increase subsidies on domestic cooking gas LPG and Kerosene, leaving a gap of over Rs 9,000 crore to be borne by public sector oil firms.

‘Main Hoon Na’, says Finance Minister
New Delhi, July 8
Union Finance Minister Palaniappan Chidambaram today presented the Budget in a professional manner that sent his critics groping for words and made his colleagues proud.

PM allays fears on inflation
New Delhi, July 8
Prime Minister Manmohan Singh today commended the 2004-05 General Budget for being focussed on key social sectors and giving a boost to the agricultural and industrial sectors.



Sonia to decide about Bhattal’s portfolios
Sonia Gandhi and Rajinder Kaur BhattalNew Delhi, July 8
Punjab Chief Minister Amarinder Singh today said he had not suggested to the party’s Central leadership to do away with the post of Deputy Chief Minister in the state.

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Editor-in-Chief, Publisher & Printer: H.K. Dua
Published from The Tribune House, Sector 29-C, Chandigarh, India, 160030
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Copyright : The Tribune Trust, 2004.