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Sops for individual taxpayers are one of the positive aspects of the Union Budget. The FM is to be congratulated for his concern for individuals. However, there is no thrust to savings as the limit under Sec 80C remains unchanged at Rs 1 lakh. Also, there is no respite from tax on income by way of interest on bank deposits, post-office savings etc.

Agriculture continues to be the backbone of our economy. Though increased agricultural credit is welcome, the need of the hour is perennial water supply, assured support price for crops and proper storage facilities. More steps for development of rural places would have brought smiles on the face of villagers.

B.N. Bharath, Manager (Credit Analyst),

SBI, Local Head Office,

Bangalore

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