The Rs 100-crore club
The budget has set aside the same amount — Rs 100 crore —for the following projects:
>> Scheme to support about 600 new and existing Community Radio Stations
>> Metro projects in Lucknow and Ahmedabad
>> Ghat development and beautification of the river-front at Kedarnath, Haridwar, Kanpur, Varanasi, Allahabad, Patna and Delhi
>> Expediting the preparation of Detailed Project Reports in an effort to link the country’s rivers
>> Launching Kisan TV, a channel dedicated to farmers and agriculture
>> Construction of a war memorial and a war museum at Princess Park near India Gate
>> A new scheme called ‘Beti Bachao, Beti Padhao’

Highlights of the budget
>> Hike in the income tax exemption limit for individuals below 60 years to Rs 2.5 lakh and Rs 3 lakh for senior citizens. Deductions under various heads such as investments in insurance, pension and house rent were also proposed to be raised by Rs 50,000 to Rs 1.5 lakh.

Poll

Who will win the Punjab Elections?

BJP 32.86%

AAP 41.43%

INC 25.71%

Submit

View All In Poll

Illustrations/ Amit Bandre

>> Interest on housing loans will also get a higher exemption.
>> Duty-free baggage allowance for Indians returning from abroad is also sought to be raised to Rs 45,000 from Rs 35,000.
>> Farmers will also stand to gain with Jaitley's proposal for an integrated national market for agro-produce, that will enable them to sell their crops directly to consumers and earn better prices. The subsidies to them, notably for soil nutrients, have also been enhanced.
>> For industry, he assured that the pan-India goods and services tax will be introduced by the end of the year and a fresh view will be taken on the direct tax code.
>> Retrospective tax, which creates liabilities not planned for, and has been a matter of much concern for both domestic and overseas investors, will not be imposed at random.
>> Customs duties and excise rates were also rationalised for a host of sectors.
>> He also sought to remove the perception of policy inaction and a freeze on economic reforms by hiking foreign equity in insurance and defence equipment to 49 percent from 26 percent.
>> New schemes for conservation of sacred rivers, a sports university in Manipur, welfare fund for migrants from Kashmir, conservation of the Himalayas, support for organic farming and a 24X7 channel for northeast and protecting the heritage of the Andaman and Nicobar islands.
>> For the defence forces, the allocation is being raised by about 12% to Rs 2,29,000 crore, besides Rs 5,000 crore for the modernisation of the 1.2 million-strong armed forces.

If your annual Income is...
Rs 3 lakh
The relief provided will result in tax savings of Rs 5,150

Rs 5 lakh
The tax benefit will come to Rs 10,300 after considering tax deduction under 80C.

Rs 10 lakh
The savings in taxes would be Rs 15,450

Rs 7,060 crore
Amount earmarked for developing 100 ‘smart cities’

Rs 38,000 cr
Amount set aside for fast-tracking highways to augment the nation’s arterial network

Rs 700 crore
The sum allocated for carrying out reforms in the power and water sectors in New Delhi

Rs 2,037 crore
Amount set aside for the conservation of River GangaA