Tax
New/amended law to ensure taxpayers are not harassed
Income tax cut to 10% from 20% for Rs 5-7.5 lakh band
Income tax cut to 15% from 20% for Rs 7.5-10 lakh band
Income tax cut to 20% from 30% for Rs 10-12.5 lakh band
Income tax cut to 25% from 30% for Rs 12.5-15 lakh band
30% tax rate still applicable for above Rs 15 lakh
No tax for income up to Rs 5 lakh
Companies
Companies Act to be amended to reconsider criminal liability for acts that are civil in nature
Start-ups
Tax deferred on employee stock ownership plan for start-ups
Banking/Insurance
Insurance cover for bank depositors to be raised to Rs 5 lakh from Rs 1 lakh
Social Welfare
Rs 85,000 crore for Scheduled Castes and Other Backward Classes
Agri/Farmers
‘Kishan Rail’ network to ferry perishable goods faster, will have refrigerated coaches
‘Krishi Udan’ flights for farmers to be launched, north-east to benefit
Healthcare
Rs 69,000 crore allocated for healthcare sector
Railways
More Tejas type trains will connect tourist destinations
Infrastructure
5 new smart cities in public-private partnership mode
Delhi-Mumbai Expressway to be completed by 2023
100 more airports to be developed by 2024
Disinvestment
Government will sell part holding in LIC via initial public offering (IPO)
