Overall budget
is satisfying low & Middle class citizen of India. and how its going to benefited for middle class and low income group.
1)
Income Tax
exemption limit raised from Rs.200,000 to Rs.250,000
2)
Senior Citizen Income
Tax exemption limit raised from Rs.250,000 to Rs.300,000
3)
Section 80C
investment limit increased to 150,000 from 100,000
4)
Tax exemption on
interest component on housing loan raised to 200,000 from 150,000
5)
Most popular Public
Provident Fund (PPF) ceiling will be increased to 150,000 from 100,000
6)
A Special saving
scheme will be introduced to encourage savings towards education & marriage
of a girl child
7)
One more popular
investment among public, Kisan Vikas Patra to be reintroduce for planned and
unplanned savings under small savings scheme
8)
Proposal to
introduce single demat account for all type of financial transactions
9)
Proposal to
introduce standardized KYC norms and single KYC across financial sector
10)
EPFO to launch
unified account scheme to ensure provident fund portability
11)
Cheap housing
loan & Tax incentive for Low Income Group (LIG), and government allocated
4000 cr for the same
12)
Insurance sector
FDI to be hiked to 49% from 26% .
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