Saturday, May 30, 1998
Centre may offer tax concessions for housing sector
The Centre is likely to announce major tax concessions for the housing sector in the forthcoming budget to generate demand in basic industries like cement and steel. One of the measures will be to increase the tax deductible portion of personal income against interest paid on housing loans.
Industry hails Railway budget, silent on passenger fare hike
The industry has lauded Union railway minister Nitish Kumar for leaving the freight rates almost untouched in the BJP-led government's maiden railway Budget. Interestingly, the industry have not given any comment on passenger fare hikes. It felt that the government should continuously try to increase their freight loading capacity and make adequate investment in the rail infrastructure.
Annual Plan outlay stepped up to Rs 9,500 cr
The Annual plan outlay for Railways for 1998-99 has been revised upwards to Rs 9,500 crore from Rs 8,300 crore proposed in the interim budget and Rs 8,430 crore in the revised estimate for last fiscal. The increased Plan outlay was through an increase in the internal resource component to Rs 4,400 crore.
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