Service tax changes: air travel caps limited, construction abatement raised and specific housing and skill-course exemptions introduced.
Service tax measures cap the effective levy on passenger air travel and exempt domestic North-Eastern travel; construction-sector relief increases the abatement rate from 67% to 75% where gross value includes land and simplifies completion-certificate procedures; exemptions are provided for low-cost urban housing construction effective from a notified date after enactment; modular skill-development courses under the government skill initiative are exempted with immediate effect.

Debt relief package for small coffee growers: government and banks share loan waivers and rescheduling measures.
A targeted relief scheme provides a Debt Relief Package for coffee growers: pre-2002 term loans receive 50% waiver by the Government (capped per farmer), 25% waiver by banks, and the balance rescheduled; crop loans receive a 20% waiver split equally between Government and banks (subject to a cap); post-2002 term loans receive a 10% Government waiver (subject to a cap); medium and large farmers are allowed rescheduling. The package allocates financial burden between Government and banks and sets per-beneficiary caps and rescheduling rules.

Service tax return due date extended to next working day when statutory deadline falls on a holiday.
Service tax returns for the half year October 2009-March 2010 had a filing deadline of 25 April 2010; where that date was a holiday, filing was permitted on the next working day. Administrative facilitation included a return mela at the CGO Complex, Lodhi Road on 23 and 26 April 2010 (1000-1700) for Divisions I and II, while Gurgaon and Faridabad divisions continued to accept returns at their own offices.

Bilateral economic cooperation framework charts sectoral collaboration and timelines to boost trade, investment, agriculture and IT partnerships.
Protocol establishes a bilateral cooperation framework identifying prioritized sectors for economic, scientific and technical collaboration and records a mutual commitment to enhance trade and investment by pursuing defined opportunities with timelines. Key sectors listed include agriculture and post-harvest processing, food, textiles, leather, pharmaceuticals, science and technology, SMEs, energy with emphasis on new and renewable energy, engineering goods, tourism and information technology. The protocol invites Bulgarian expertise in farming and post-harvest processing and affirms India's strengths in e-governance, software parks and ICT-led education as bases for IT collaboration.

Trade deficit narrows as cumulative imports decline despite monthly import surge and higher exports figures.
India's February 2010 trade data recorded strong year on year export growth in February and an even larger month on month rise in imports, while cumulative April 2009-February 2010 values for both exports and imports fell versus the prior year. Oil imports were higher in February year on year but lower cumulatively; non oil imports rose in February yet declined over the cumulative period. The cumulative trade deficit for April 2009-February 2010 narrowed compared with the same period of the previous year. Figures for 2009-10 are provisional.

VAT rate changes reclassify and raise taxes on specified goods while exempting certain medicines and domestic LPG.
DVAT amendments effective 1 April 2010 alter rates and exemptions: Defarasirox and domestic LPG are made exempt; certain bio-inputs and kerosene appliances move from exempt to a low taxable rate; numerous consumer goods, agricultural chemicals, household fittings, textiles and electronics are reclassified from a lower rate to a higher rate; and selected items such as diesel, aerated drinks and higher-end watches have their rates increased. Changes are effected via amendments to the DVAT schedules and attendant finance notifications.