Education cess hike to yield Rs 5,300 cr: FM

New Delhi, Feb 28 (UNI) The hike in education cess from two per cent to three per cent would yield an additional revenue of about Rs 5,300 crore, Finance Minister P Chidambaram said today.

The government would collect an education cess of Rs 10,671 crore during the current fiscal and the one per cent hike in the Budget proposal would result in 50 per cent higher collections, he said at the post-Budget press conference.

UNI