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Finance Minister Pranab Mukherjee presented the Union Budget for 2012-13, his seventh budget. Key highlights included raising the income tax exemption limit and service tax rate. Measures were also announced to curb black money, provide subsidies for food security, and raise Rs. 30,000 crore through disinvestment. The finance minister forecasted GDP growth of 7.6% for 2012-13 and aimed to further reduce the fiscal deficit through expenditure reforms and tax increases.

Author

Divya Hds

Language

EN