Opinion - Letters to the Editor   

Budget 2004-05

Sir, — The Union budget was disappointing. Instead of increasing the basic exemption limit to Rs.1 lakh across the board, the Finance Minister has tactfully offered a tax rebate to only those whose total taxable income does not exceed Rs.1 lakh.

Except for certain concessions in capital gains, no incentives have been provided to the corporate sector. The hiking of service tax from 8 to 10 per cent cannot be justified. Increasing excise duty on steel from 8 per cent to 12 per cent will have a cascading effect and it does not augur well for the infrastructure sector.

S. Kannan,
Chennai

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