Budget 2012 Impact

                                               
                               BUDGET 2012-2013 

For salaried class, this budget is rubbish. Completely disappointing.

Income Tax:
The slab has been increased from 1,80,000 to 2,00,000. So a gracious raise of 20,000. If you are in 10% bracket, then the saving is 2000 Rs/Year and if you are in 20% bracket would end up saving 4000 Rs/Year.
I am listing below tax slab and tax rates:

Old Rate

Slab in Lakhs	Rate%
0 to 1.8	0
1.8 to 5	10
5 to 8	20
Above 8	30

New Rate

Slab in Lakhs	Rate%
0 to 2	0
2 to 5	10
5 to 10	20
Above 10	30

Other Impact:

Prices of consumer electronics like LCD TV, LED TV, air-conditioners, refrigerators, washing machine and microwave ovens are going to go up by 2-4%. This is because of increase in exercise duty from 10% to 12% .
Accordingly, a 1.5 tonne 3-star split AC will now cost Rs 1,000 more, while a 240-litre 5-star frost-free refrigerator will cost Rs 800 more. A 6kg fully-automatic front-loading washing machine will cost Rs 1,200 more.
The other announcement - exemption of basic custom duty for LCD and LED TV panels, will have little impact since there was already nil custom duty for imports from Japan and Korea from where major companies like LG, Samsung, Panasonic and Videocon primarily source their TV panels.

TV makers indicated LCD and LED TV prices will also go up by 2-3%. As a result, a 32-inch LCD TV price will go up by Rs 800 while that of a 32-inch LED TV by around Rs 1,200.
Apart from the items listed above other areas impacted would be:

Air Travel
Eating Outside
Phone Bills

Salaried urban middle class is going to be in a big way affected.