Chidambaram on taxes (the video is loading, may take long. Please bear with us...)

The major highlights of the Budget, presented by the Indian Finance Minister P Chidambaram were: Central sales tax cut from 3 per cent to 2 per cent.The Govt withdraws banking transaction tax revenue implication of indirect taxation to be Rs 5900 crore, direct taxation changes to be revenue neutral STT levy only on option premium. Threshold tax exemption limit increased from Rs 1,45,000 to Rs 1,80,000, for women, Threshold limit of tax exemption increased from Rs 1,10,000 to Rs 1,50,000 for men.