1. The tax slabs for both male and female has been increased. This shows Finance Minister is sensitive to the needs of the common man.
2. In line with the policy of boosting the infrastructure sector by promoting investments, an individual who invests in long term infrastructure bonds (to be notified by the Government) will now get an additional deduction for the amount invested in such bonds to the extent of Rs. 20,000. This is a good measure as presently there is a tax deduction limit of Rs 100,000 which is anyways having various investment options all lumped up together. An individual who invests in these infrastructure bonds will also be able to get incremental tax relief’s. This in turn increases the GDP.
3. Jewelleries will become costlier as FM has raised the duty on imports of gold and platinum to Rs 300 per 10 grams from Rs 200.
4. Infrastructure and Social sector get a major share of allocation which is a positive sign. Infrastructure needs to improve big time for our country which is projected to take over as the second best economy in the world in near future.
5. Renewable energy resources have been given a big boost.
6. This budget is a boon to Small enterprises earning annual revenue up to Rs 60 lakh or a independent professional with gross receipts up to Rs 15 lakh as they no more have to get their accounts audited.
7. Educational Development receives comparatively less increase.But due to relaxation in FDI, more foreign universities can tie up with Indian Universities and increase the quality of education.
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