Tuesday, March 1, 2011, Chandigarh, India
Updated at 2:30 am (IST)

Pranab’s ALL-INCLUSIVE BUDGET
The Finance Minister focuses on the ‘aam aadmi’, boosts spending on the health and education sectors, bets big on growth to meet the deficit but concerns remain on inflation
New Delhi, February 28
Finance Minister Pranab Mukherjee started his Budget 2011-12 speech by saying, “At times the biggest reforms are not the ones that make headlines but the ones concerned with the details of governance, which affect the everyday life of aam aadmi”.

Cheaper loans for the farm sector 
Modest relief for the salaried class 
A helping hand to the elderly 
No new taxes for big business houses 
Foreign investment liberalised

Preparing the ground for Direct Taxes Code
New Delhi, February 28
Finance Minister Pranab Mukherjee has raised the Income tax exemption limit marginally for individual tax payers, reduced the surcharge on corporate tax and raised the minimum alternate tax (MAT) on corporates. The proposals on direct taxes will result in a net revenue loss of Rs 11,500 crore.

PM gives thumbs up, BJP finds it hard to pick holes
New Delhi, February 28
While Prime Minister Manmohan Singh praised Finance Minister Pranab Mukherjee for meeting all the challenges of the economy in the Budget, the Opposition was at a loss to criticise the spending announced in the social sector.

Health allocation up 20 pc
Now, pay more for treatment at private hospitals
New Delhi, February 28
The government today announced 20 per cent increase in the Budget allocation for the health sector. The allocation for the fiscal year 2011-12 would be Rs 26,760 crore as against the current year allocation of Rs 22, 300 crore.