{"license":"Free to use with attribution to Vaada Meter (license terms to be finalised)","methodVersion":"1.0","generatedAt":"2026-10-06T07:29:06.462Z","data":{"id":"inc-ls-1991-006","text":"Tax exemptions for profits reinvested in housing, highways, school buildings and drinking water","quote":"promote reinvestment of profits, by suitable tax exemptions, in areas where there is crying need for massive investment such as low and middle income group housing, highways, roads and bridges, non-conventional energy, school buildings and supply of drinking water","quoteIsExact":false,"quoteLanguage":"en","quoteEnglish":null,"page":null,"sector":"tax","measurability":"measurable","importance":"minor","deadline":"1996-05-16","deadlineType":"implied","status":"kept","rating":10,"ratingRule":"kept","provisional":false,"confidence":"medium","reason":"The first budget proposed an income-tax deduction for the full amount paid to finance approved social and economic welfare projects, chosen by a national committee. This is the budget proposal; the final enacted text was not checked separately.","evidence":[{"date":"1991-07-24","sourceType":"budget","publisher":"Ministry of Finance","title":"Budget Speech 1991-92 (Manmohan Singh)","url":"https://www.indiabudget.gov.in/doc/bspeech/bs199192.pdf","quote":"I, therefore, propose to make a provision in the Income-tax Act to provide deduction, in computing taxable profits of a taxpayer carrying on a business or profession, of the entire amount paid for financing projects or schemes promoting social and economic welfare.","stance":"supports"}],"tags":["income-tax"],"sensitive":false,"memeLine":null,"review":{"state":"ai_draft","draftedBy":"research-agent","draftedAt":"2026-10-05","reviewedBy":null,"approvedBy":null},"manifestoId":"inc-ls-1991","partyId":"inc","electionId":"ls-1991"}}