In interim budget just presented by FM .
-No changes has been made in Direct Taxes. So no changes in personal tax front.
However excise duty has been reduced for various sectors .
Excise duty on small cars scooters motor cycles has been reduced to 8% from 12% earlier.
Excise duty on mid cars has also been reduced to 20% from 24%.
Excise duty on large cars has been reduced to 24% from 27%.
Excise duty on SUV has been reduced to 24% from 30%.
Excise duty on consumer goods and capital goods has been reduced by 2% from 12% to 10 %.
FM says fiscal deficit will be contained at 4•6 % of GDP & CAD at 45bn.
Service tax on loading unloading and warehousing and storage of Rice has been withdrawn
Service tax blood bank has been exempted
Excise duty on Mobiles has been rationalised to 6% with Cenvat & 1% without Cenvat