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| Thursday, 20 November 2003 |
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Budget at a glance All public officers to get a monthly salary increase of 10 per cent of present salary or Rs.1,250, whichever is higher from January 2004 Voluntary Retirement Scheme to be introduced for public officers from January 2004 A 10 per cent increase in pension payments from January 2004 Single unified band of 15 per cent for the Value Added Tax (VAT) from January 2004 Tax-free allowance for personal income tax increased to Rs.300,000 Annual levy of Rs.300 from each mobile phone subscriber The 20 per cent surcharge on duty reduced to 10 per cent Excise duty on beer raised by Rs.5 per litre (alcoholic strength less than 5 per cent) and by Rs.10 (alcoholic strength exceeding 5 per cent) Kitul tree tax reduced to Rs.50 from Rs.250 New housing loan scheme for public sector employees Increase in fertiliser subsidy Agriculture loan relief for farmers Maximum age of motor cars that can be imported without a license raised to three and a half years |
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