Full Budget Speech of Union Budget 2015

Bud­get 2015–2016
Speech of Arun Jait­ley, Min­is­ter of Finance
Feb­ru­ary 28, 2015

Today 28th Feb­ru­ary, 2015 Finance Min­is­ter Mr. Arun Jait­ley pre­sent­ed the Naren­dra Modi gov­ern­men­t’s first full bud­get, promis­ing to revive the econ­o­my from what he termed was a peri­od of gloom. Main high­lights of Jait­ley’s speech were: No change in per­son­al Income Tax, Health Insur­ance Pre­mi­um deduc­tion lim­it increased from Rs 15,000 to Rs 25,000; for senior cit­i­zens to Rs 30,000, trans­port allowance exemp­tion increased to Rs 1,600 from Rs 800 per month, addi­tion­al 2% sur­charge on peo­ple earn­ing over Rs 1 cr; Direct Tax­es Code (DTC) dropped, Rs 50,000 deduc­tion for con­tri­bu­tion to New Pen­sion Scheme, Cor­po­rate Tax cut to 25% over next four years.

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