1.FM said in the budget, for the next three years, the government will contribute Rs
1,000 per year to the NPS account of those who deposit less than Rs 12,000 per year and start
their account in 2010-11. This scheme could well be the promotional impetus that the NPS needs
to do generate awareness among a larger audience.
2.savings bank accounts will now pay interest daily. Up till now, banks would pay interest
only on the minimum balance between the 10th of a month and its end, which was a rule designed
to generate income for banks without having to pay customers for use of their money.
3.Businesses with annual revenue of less than Rs 60 lakh can now just pay tax assuming an income
of 8 per cent of turnover, without even having to maintain books of accounts.