By IANS
Tax-GDP ratio rises to 12.5 percent
Tax exemption raised from Rs.110,000 to Rs.150,000
Sixth central pay commission to submit report by March
General central value-added tax rate slashed to 14 percent from 16 percent
Fiscal and revenue deficit pegged at 3.1 percent and 1.4 percent, respectively
Revenue deficit would be 1.4 percent against budget estimate of 1.5 percent