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BUDGET 2017-2018 Special

Latest Updates -
-The latest income tax slabs for 2017-2018 can be found here - Income tax slabs 2017-18.

-The latest free income tax calculator to calculate your latest tax and to compare your tax savings from previous year can be found here
Free Income Tax calculator for calculating tax for 2017-18.

RBI Annual report focuses on price stability

The Reserve Bank of India (RBI) has shown its resolve in fighting the rising price.

In its Annual Policy Statement for the year 2008-09 the central bank has hiked the Cash Reserve Ratio (CRR) of banks by 25 basis points (bps). This brings the CRR to 8.25 per cent. At the same time it kept the repo rate, reverse repo rate and Bank Rate untouched at 7.75 per cent, 6 per cent and 6 percent respectively.

Highlights of the policy statement that has given high priority for price stability -

  • Cash Reserve Ratio (CRR) increased to 8.25 percent
  • Repo Rate, Reverse Repo Rate and Bank Rate remain unchanged.
  • GDP growth for 2008-09 projected to be in the range of 8.0- 8.5 per cent.
  • Inflation to be bought down to 5.5 percent in 2008-2009
  • Deposits projected to increase by around 17.0 per cent.
  • Indian companies will be allowed to invest overseas in energy and natural resources sectors.

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