Following are the highlights of Union Budget 2016-17:

   * No change in personal Income Tax slabs
   * Four-month Compliance Window for domestic black money holders; tax, interest on them at 45 percent
   * Relief for tax payers who earn below Rs 5 lakh; ceiling of rebate u/s 87A raised to Rs 5,000 from Rs 2,000
   * House rent deduction raised from Rs 20,000 to Rs 60,000
   * One-time dispute resolution scheme for retro tax cases, penalty, interest waived
   * High level committee headed by Revenue Secretary to oversee creation of fresh liability using retro tax law
   * Corporate Tax for new manufacturing units fixed at 25 percent
   * Clean energy cess increased from Rs 200 per ton to 400 per ton on coal, lignite and peat
   * First home buyers to get additional deduction of Rs 50,000 on interest for loan up to Rs 35 lakh; cost of house should not be more than Rs 50 lakh
   * To achieve fiscal deficit of 3 percent of GDP by 2017-18
   * Fiscal Deficit target 3.9 percent in 2015-16, 3.5 percent in 2016-17
   * Revenue Deficit to be 2.8 percent in 2015-16
   * Current Account Deficit for 2015-16 at USD 14.4 billion or 1.4 percent of GDP
   * Forex reserves at highest at USD 350 billion
   * Budget lists 9 transformative pillars including doubling farm income by 2022, infrastructure, investment, reforms
   * Highest ever allocation of Rs 38,500 crore for MGNREGA
   * Certain equipment for dialysis exempt from basic customs duty, Excise CVD
   * Govt to circulate Model Shops and Establishment Bill, small retail shops may remain open for 7 days
   * 100 percent rural electrification by May 1, 2018
   * Government to pay EPF contribution of 8.33 percent of new employees for first 3 years.
   * Start-ups to get 100 percent tax exemption for 3 years except MAT which will apply from April 2016-2019
   * To give statutory status to Aadhaar programme
   * Infrastructure outlay at Rs 2.21 lakh crore
   * Rs 35,984 crore earmarked for farmer welfare; to spend Rs 86,500 crore on irrigation in 5 years
   * Rs 20,000 crore irrigation fund to be set up under NABARD
   * Rs 2,000 crore for LPG connection to poor; scheme for MPG connection for women
   * Stand Up India allocated Rs 500 crore
   * Roads and highways allocation at Rs 55,000 crore; NHAI can issue tax free bonds

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In pics: Arun Jaitley presents Union Budget 2016 in Parliament

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