Indian Budget 2012-13: Gains and Losses

Here is what you gain and what you lose on account of the budget proposals presented by Indian Finance Minister Pranab Mukherjee on March 16, 2012:

Gains:

* Minimum exemption limit for income tax raised to Rs.2,00,000 from Rs.1,80,000

* Tax slabs raised: In Rs.2-5 lakh bracket levy will be 10 percent, for income between Rs.5-10 lakh levy would be 20 percent and above Rs.10 lakh it is 30 percent

* Interest up to Rs. 10,000 on saving bank account to be exempt from tax

* Deduction of 50% for investments up to Rs 50,000 in equity by new investors with an annual income up to Rs. 10 lakh

* Age limit for senior citizens reduced from 65 to 60 for several tax benefits

* Further exemption of Rs.5,000 for those going for preventive health check-up

* LCD, LED television sets will become cheaper due to excise duty cuts

* Life saving drugs will cost less

* Electric vehicles may cost less as duty breaks extended to batteries

* No excise on branded silver jewellery

* Duty-free baggage allowance at airports raised by Rs. 10,000 to Rs. 35,000

* Excise duty on branded readymade garments reduced from 4.6% to 3.7%

Losses:

* Most daily use items will be dearer as excise duty on manufactured goods is raised

* Treatment in private hospitals will cost more

* Air travel, hotel stay, hiring a lawyer is going to cost more

* Luxury cars, gold, polished gems to become dearer

* Cars whose length is more than four metres and engine capacity (1,200 cc for petrol) (1,500 cc for diesel) will be costlier

* Smokers and tobacco users will pay more for cigarettes, beedis, pan masala

* Buyers will have to shell out more for liquor too