Union Budget 2013

Income tax slab applicable for 2013-2014 per union budget 2013-14 presented on 28 February 2013.

No changes to the income tax slab or the rates and an additional rebate for people with income less than Rs 5 lakhs are the main highlights of the budget. In addition, the highlights of the Union budget 2013 presented by Minister of Finance Mr Chidambaram today are the following -

Minister of Finance Sri Chidambaram is facing a tough task in preparing the union budget 2013. On the one hand is the Lok sabha elections of 2014 that calls for popular measures and increased spending from the government. While on the other hand is the challenging state of the economy that calls for tough action including cut backs on government spending.

The main challenges the Minister of Finance will be facing this year will be