New Delhi, July 2 (Inditop.com) Salient features of the Economic Survey for 2008-09 released by Finance Minister Pranab Mukherjee in parliament Thursday:
– Cut fuel, food and fertiliser subsidies
– Raise foreign investment cap in insurance to 49 percent
– Allow 100 percent foreign investment in health, weather insurance
– Raise Rs.25,000 crore from divestment every year
– Sell 5-10 percent in profitable non-Navratnas
– List unlisted state-owned firms, divest at least 10 percent equity
– Auction loss-making state-owned firms
– Rationalise dividend distribution tax to avoid double taxation
– Review customs duty exemptions
– Removal of fringe benefit tax
– Remove commodity and security transaction taxes
– Limit subsidy on cooking gas to six-eight cylinders per household
– Kerosene subsidy only for non-electrified, non-cylinder homes
