Finance Minister Pranab Mukherjee today presented to Parliament the Union Budget 2011-12.
Highlights of the Budget...
Income tax limit raised from Rs 1,60,000 to 1,80,000
For senior citizens, tax exemption limit increased to Rs 2,50,000.
For senior citizens above 80, the tax exemption limit has been raised to Rs 500,000.
Eligibility age for senior citizens is now 60 years against 65 years earlier
Exemption limit for women remains the same at Rs 2,40,000.
A new revised income tax return form 'Sugam' to be introduced for small tax papers.
Relaxation in exit age for National Pension scheme
Anganwadi workers’ salary up from Rs 1500 to Rs 3,000/mnth; helpers to get Rs 1500
Scholarship for needy SC/ST students in class 9 and class 10
Budget allocation for Defence sector at more than 1.64 trln rupees
Allocation of Rs. 52057cr for education sector, increase of 24%
Rs. 9 lakh compensation to be given to men of Defence and Central paramilitary forces for permanent disability and discharged from service
1% interest subvention for home loans up to Rs 15 lakh
Housing loan limit raised to 25 lakh for priority sector lending