2015-16 Budget Highlights

Three Key achievements:

• Financial Inclusion - 12.5 crores families financially mainstreamed in 100 days.
  
• Transparent Coal Block auctions to augment resources of the States.
  
• Game changing reforms on the anvil: Goods and Service Tax (GST)
  

State of Economy

• Inflation declined
  
• CPI inflation projected at 5% by the end of the year, consequently, easing of monetary policy.
  
• Monetary Policy Framework Agreement with RBI, to keep inflation below 6%.
  
• GDP growth in 2015-16, projected to be between 8 to 8.5%.
  

For Tax Payer

• Income Tax Ceiling unchanged. ( No tax upto Rs. 2,50,000/- )
  
• Medical Allowance increased to Rs. 25,000/- from Rs. 15,000/-
  
• Transport Allowance increased to Rs. 19,200/- from Rs. 9,600/-
  
• Watch out for Tax free Infrastructure Bonds in Road and Railway sectors !