BENGALURU: Finally the most awaited day has come and the budget results are out. On 28th February, the honorable Finance Minister Arun Jaitley had announced the budget fairly addressing the objectives of far reaching reforms to boost the economy of the country.

The announcement made had finally fulfilled the expectation and dreams of the common man, business persons and taxpayers to enrich their economies. The provisions in the budget were aimed to bring a pro-poor and pro- growth oriented changes in the country.

The Economics Times has compiled certain measures by FM that would really be a reason to give relief to the taxpayers. Let’s interpret the overall impact of budget on tax payers:

1. Medical Insurance: The Modi government’s growth agenda has perfectly depicted its contributions for health or medical insurances. With an aim to promote health insurance, the budget was proposed to increase tax deduction limits of up to 25,000 from 15,000.

For every senior citizens of 80 years or above not covered under insurance, the limit is raised up to 30,000 from 20,000. And an additional deduction for physically disabled persons will be provided which is 25,000.

Initially the total deduction available under section 80 D of the Act was 35,000 but now it has been increased to 55,000. The increasing medical costs and living expenditures were ruining common man’s pocket but the outcome of budget 2015 results will allow some relaxation.

Read More: Post Budget Reactions From The Financial Top Guns Of India

Student Aid Authority Will Rein In Rogue Banks