Budget 2007-08 – Running Commentary

Govt to acquire RBI’s shares in SBI for 40,000 crore.

Report on making Mumbai a regional financial centre to be made public, consensus to be obtained on major recommendations.

Vocational education mission to be started, public-private partnership tapped. Initial funding 50 crore.

Disabled persons employment to be rewarded by government. EPF and ESI employer contributions to be refunded for the first three years.

GB Pant University and TN Agri University to be given Rs. 50 crore as special grant.

VAT revenues of implementing states have increased by 13%. CST to be phased out. CST to be reduced from 4% to 3% from April 1.

Revenue deficit reduced by 0.1% as expected.

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