A full tax rebate has been announced for those with an income of up to Rs 5 lakh while those with incomes of up to Rs 6.5 lakh need not pay tax if specific investments are made.
Besides this, in a big boost to the working class, Rs 3000 assured pension has been announced for around 10 crore workers.
In a boost to the rural sector, farmers will get a direct income of Rs 6000 per year even as the budget had provisions of loan relief for farmers. Defence budget has also been hiked to highest ever of Rs 3 lakh crore.
This is the last Interim Budget of the NDA government led by Prime Minister Narendra Modi before the Lok Sabha elections due by May.
The key highlights from Finance Minister Piyush Goyal’s budget speech:
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