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