Key Budget 06 expectations

FBT to be scrapped/modified

Interest income on long-term bank deposits to be made tax-free.

Excise on passenger cars and utility vehicles to be cut from 24% to 16%, and SED from 8% to nil.

100% depreciation for PCs to boost broadband usage

SED on FMCG products to become CENVATABLE.

Agro-based products to get full excise exemption

Customs duty on steel to go up from 5% to 8%.

Customs on fibre intermediates like PTA, MEG to be cut from 15% to 10% and excise duty on end products like PFY, PSF from 16% to 8%

Custom duty on capital goods to be reduced from 15% to 10%.

Duty cuty on aviation turbine fuel to boost the aviation industry.