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9 ways the Budget affects you
February 29
3. Defence budget hiked by 10%
Allocation for defence to be increased by 10 per cent from Rs 96,000 crore to Rs 1,05,600 crore.
Rs 500 crore for identifying urgent needs of development programmes of border areas like Arunachal Pradesh.
To protect tigers, Rs 50 crore for National Tiger Conservation Programme. Bulk of it to be used to raise Tiger Protection Force.
Plan expenditure fixed at Rs 2,43,000 crore and non plan expenditure at 5,74,000 crore.
Fiscal deficit pegged at 3.1 per cent and revenue deficit at 1.4 per cent.
Tax to GDP ratio increased from 9.2 per cent in 2004-05 to 12.5 per cent 2007-08.
Special Countervailing Duty on power imports.
Customs duty on specified sports goods machinery down from 7.5 per cent to five per cent.
Duty withdrawn on naptha for production of polymers.
Duty on crude and unrefined sulphur reduced from five to 2 per cent to help raise domestic fertiliser production.
Image: Indian soldiers walk past Brahmos missiles on display at the inaugural ceremony of the international DefExpo 2008 defence fair, in New Delhi
Photograph: Raveendran/AFP/Getty Images
Also read: Union Budget 2008-09: Complete coverage
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