Union Budget and Rail Budget for 2012-13 begins from today

The Union Budget and Indian Railway Budget for financial year (FY) 2012-13 has been implemented since Sunday Midnight, as President Pratibha Devi Singh Patil on Sunday midnight signed on it.

Earlier, Budget Proposals have been passed in both houses of Parliament with slightly modifications before sending those to the President.

Since Sunday, the service tax, excise duty, and journey in planes and AC trains will be more expensive.

According to Union Budget proposals for 2012-13, service and excise duty will increase by two percent, which banking loans, all sorts of bills, dining, travelling and purchasing vehicles will be dearer.

Prices of electronic and electrical equipments like air conditioners, refrigerators, washing machines and microwave ovens have also gone up by three to four per cent, while LCD and LED TV sets will cost two percent more.

Travelling in Aeroplanes and Trains (AC coaches of First Class, Second class and Chair car) has increased as well.

Train passenger fares will be increase by 10 paise per km in first class, 15 paisa per km in AC second class and 30 paisa per km for AC first class. The platform ticket will also to cost Rs.5 from Sunday.