Finance Budget for 2009-2010 [summary]

Rural goodies * Spending on rural job scheme up by massive 144 percent. * Bharat Nirman scheme gets 45 percent hike in funds * Rs 38,000-crore increase in credit flow for farmers. * Subsidised 7 percent interest schemes for crop loans continues Tax sops * Salaried class gets 10K hike in income-tax exemption limits, 15K for senior citizens (1,60,000 for you; 1,90,000 for your wife; 2,40,000 for your father). *Filing tax returns to get simpler * 10% surcharge on individual income, in excess of Rs 10 lakh, is no more * Fringe Benefits tax scrapped, MAT raised from 10% to 15% Investors' delight * Commodities transaction tax disbanded * Uniform non-promoter public shareholding for all listed firms Splash the cash * Higher disposable income * Branded jwellery, LCD TVs, big-sized car cheaper * Set-top box costly, cotton apparel and branded fuel dearer * Life-saving drugs cheaper Big Business and Politics * Tax burden on economy comes to 10.9% of GDP, down from 11.6% * Tax exemption for IT sector and EOUs extended by one more year * 100% tax exemption on donations to political parties * Fiscal deficit 6.8% of GDP