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The Income Tax department took several punitive measures to unearth unaccounted money and curb tax evasion.

Newly-appointed Railway Minister Mukul Roy said Safety, security and punctuality will be the priority.

As per the proposals, a total of Rs 211.56 crore has been granted to meet establishment-related expenditure of ISTM and LBSNAA.

The excise duty on refined gold has been increased from 1.5 per cent to 3 per cent.

Manmohan Singh applauded Pranab Mukherjee's Budget and said the government has to take tough decisions at times.

The BJP on Friday said that the Union Budget would lead to further price rise hitting the common man.

After a drubbing in recent state elections, the Government has little room to cut subsidies costing 2.5 per cent of GDP.

In the aftermath of the Rail Budget fiasco, it remains to be seen how the allies will react when Pranab Mukherjee presents the Budget in Parliament on Friday.

Pranab Mukherjee is all set to present his seventh Budget. It comes against the backdrop of slowing growth.

"No one has sought my resignation till now. My job is to get the Budget passed in Parliament," says Dinesh Trivedi.

The 30-share BSE Sensex fell 243.45 points or 1.36 per cent, to close at 17,675.85, weighed down by 22 components.

Taking the full responsibility for the fare hike, Union Railway Minister Dinesh Trivedi said it was a conscious decision.

India's businesses worry that the finance ministry will ask them to shoulder a bigger tax burden in the budget.

Fare hike: 3 paise/km for mail/express 2nd class; 5 paise/km for sleeper; 10 paise/km for AC Chair Car, AC 3 tier and First Class.

CNN-IBN asked the people of Bangalore what their expectations from the Rail Budget 2012 are.

YES Bank Managing Director & CEO Rana Kapoor also wants introduction of GST, DTC and other tax reforms.