Construction of residential complexes having more than twelve residential houses or apartments together with common areas and other appurtenances.
Exemption on tax deductible housing loan to continue.
Under the rural development programme, 6 m additional houses to be constructed for the poor.
Peak customs duty reduced from 20% to 15%
The new income tax brackets, the change in exemption and deductions available to individuals and the increase in exemption for women.
IT to generate around 7 m jobs till 2009.
|
|
Peak rate of customs duty reduced from 15% to 12.5%. Basic inorganic chemicals reduced from 15% to 10%.
Excise duty is being reduced from 24% to 16% on small motor vehicles.
Duty to be reduced on major bulk plastics like PVC, LDPE and PP from 10% to 5%; on naphtha for plastics to nil; on styrene, EDC and VCM which are raw materials for plastics to 2%.
Emphasis on the Bharat Nirman project and its timely completion.
|
|
Hike in allocation for rural and urban housing infrastructure development.
Reduction in custom duty on chemicals from 12.5% to 7.5%.
Dividend distribution tax to be hiked from 12.5% to 15%.
Additional education cess of 1% to fund secondary and higher education.
|