SERVICE TAX RATE HIKED FROM EIGHT PERCENT TO TEN PER CENT, TAX NET TO INCLUDE A HOST OF SERVICES.

PERSONS WITH TAXABLE INCOME OF RS. ONE LAKH WILL NOT HAVE TO PAY INCOME TAX, TAX SLABS AND RATES UNCHANGED FOR OTHERS.

NO CHANGE IN INTEREST RATES ON SMALL SAVINGS INCLUDING PPF, GPF AND SPECIAL DEPOSIT SCHEME.

SECTORAL CAP FOR FDI TO BE RAISED FROM 49 PER CENT TO 74 PER CENT IN TELE COMMUNUICATIONS; FROM 40 PER CENT TO 49 PER CENT IN CIVIL AVIATION AND FROM 26 PER CENT TO 49 PER CENT IN INSURANCE.

INVESTMENT CEILING FOR FIIs IN DEBT FUNDS TO BE RAISED FROM US $ 1 BILLION TO US $ 1.75 BILLION.

EQUITY ORIENTED MUTAL FUNDS WILL CONTINUE TO BE EXEMPT FROM TAX ON DIVIDENDS

BANKS WITH STRONG RISK MANAGEMENT SYSTEMS TO BE ALLOWED GREATER LATITUDE IN THEIR EXPOSURE TO CAPITAL MARKET.

INVESTMENT COMMISSION TO BE ESTABLISHED.

85 ITEMS TO BE TAKEN OUT OF THE RESERVE LIST FOR SMALL SCALE SECTOR.

AUTOMOBILE INDUSTRY WILL BE ENTITLED TO 150 PER CENT DEDUCTION OF EXPENDITURE ON IN-HOUSE R&D FACILITIES.

REQUEST OF SHIPPING INDUSTRY FOR THE LEVY OF TONNAGE TAX ACCEPTED.

NEW HOSPITALS WITH 100 BEDS OR MORE SET UP IN RURAL AREAS TO GET TAX BENEFIT.

LONG-TERM CAPITAL GAINS FROM SECURITIES TRANSACTIONS TO BE REPLACED BY A TAX ON TRANSACTIONS; SHORT TERM CAPITAL GAINS TAX SLASHED TO 10 PER CENT.

TRACTORS, DAIRY MACHINERY AND HAND TOOLS SUCH AS SPADES TO BE FULLY EXEMPT FROM EXCISE.

PREPARATION OF MEAT, POULTRY AND FISH TO ATTRACT 8 PER CENT EXCISE, DOWN FROM 16 PER CENT EARLIER.

COMPUTERS TO BE FULLY EXEMPTED FROM EXCISE DUTY; LPG GAS STOVES COSTING LESS THAN RS. 2000 AND FOOTWEAR UPTO RS. 250 TO GET EXCISE RELIEF.

TASK FORCE TO BE APPOINTED ON REFORMS IN THE COOPERATIVE BANKING SYSTEM.

RS. 2,800 CRORE PROVIDED FOR ACCELERATED IRRIGATION BENEFIT PROGRAMME.

SPECIAL ECONOMIC PACKAGE OF RS. 3225 CRORE FOR BIHAR THROUGH THE RASHTRIYA SAM VIKAS YOJANA.

NORTH-EASTERN REGION GETS RS. 650 CRORE FROM THE CENTRAL POOL FOR SPECIFIC PROJECTS AND SCHEMES.

JAMMU AND KASHMIR TO GET SPECIAL ASSISTANCE FOR A REASONABLE PLAN SIZE, BAGLIHAR PROJECT AND TO SWITCH OVER TO RBI WAYS AND MEANS ADVANCE

ADDITIONAL PROVISION OF RS. 10,000 CRORE FOR PROGRAMMES SUCH AS FOOD FOR WORK, SARVA SHIKSHA ABHIYAN, BASIC HEALTH CARE, DRINKING WATER ETC.

ANTYODAYA ANNA YOJANA TO BE EXTENDED TO 2 CRORE FAMILIES.

PILOT SCHEME FOR DISTRIBUTING FOOD STAMPS TO BE INTRODUCED.

DEFENCE BUDGET HIKED FROM RS. 65,300 CRORE TO RS. 77,000 CRORE.

STATES SHARE OF UNION TAXES TO INCREASE BY ABOUT 30 PER CENT, FROM RS. 63,758 CRORE TO RS. 82,227 CRORE.

STATES TO PAY 9 PER CENT INTEREST ON GOVT. OF INDIA LOANS AS AGAINST 10.5 PER CENT

PLAN EXPENDITURE HIKED TO RS. 1,45,590 CRORE, UP FROM RS. 1,21,507 CRORE IN THE REVISED ESTIMATE FOR 2003-04.

DIRECT TAXES TO YIELD RS. 2000 CRORE MORE, INDIRECT TAX CHANGES TO STAY REVENUE NEUTRAL

FISCAL DEFICIT PEGGED AT 4.4 PER CENT, DOWN FROM 4.8 PER ENT IN 2003-04 REVISED ESTIMATES.

REVENUE DEFICIT TO BE ELIMINATED BY 2008-09.