Analysed and annotated: Full text of FM Arun Jaitley's Union Budget 2015 speech
Finance Minister Arun Jaitley on Saturday presented the NDA government's first full budget, promising to revive the economy from what he termed was a period of gloom.
Finance Minister Arun Jaitley on Saturday presented the Narendra Modi government's first full budget, promising to revive the economy from what he termed was a period of gloom.
The minister said the country was now the fastest growing economy and, earning praise from Prime Minister Narendra Modi who said the budget "was practical and pro-poor, pro-growth, pro-middle class, pro-youth."
Among the highlights of Jaitley's speech were: No change in personal Income Tax, Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000, transport allowance exemption hiked 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.
Below is the full text of the Budget speech:
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