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Towards that end, Budget 2012 is not a very inspiring one and has limited growth prospects.
The minimum slab for tax exemption has been enhanced from Rs 1.5 lakh to Rs 2 lakh. Expectations were for Rs 3 lakh to Rs 5 lakh. With 2 per cent increase in service tax, most consumer durables are going to be more expensive except for LCD / LED TVs and mobile parts. That is the only relief for young people. Travelling and eating out has become dearer. Cycling may be the answer – with the extra benefit of staying fit.
The budget will contribute to skill development due to the increased allocation for the education sector, setting up skill development fund and funding of R & D in various educational institutes countrywide.
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