Amidst great expectation and pressure, Finance Minister P Chidambaram unveiled the much-awaited Union Budget for 2005-2006. The Budget went down fairly well with the general public. Industry, too, had got quite a few things, but the squeeze through the Fringe Benefit Tax was something that might raise a few murmurs but no serious opposition. In a major relief to tax payers, the income tax exemption limit was raised to Rs 1 lakh.
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