No changes in tax rate but FM proposes increases personal income tax exemption to Rs 2.5 lakh
Tax exemption increased to Rs 3 lakh for senior citizens
80C exemption limit increased to R 1.5 lakh
EMI exemption for self-occupied property raised to Rs 2 lakh
No changes in corporate tax
Finance Minister has also provided an investment allowance at 15 percent for three years to manufacturing companies which invest more than Rs 25 crore in plant and machinery.