Issues Related To Transport Allowances: The government has doubled the transport allowances. Initially it was 800 but now after the budget it is announced to be increased up to 1600 per month. This was done with an intention ensure common mans benefit by recovering up from the increasing transportation cost.

This will cut the tax by 2,996 in the highest  tax brackets of 30 percent and for 20 percent tax bracket it will be lower by cutting up to 1,978. This limit has disappointed tax payers as it is not specified for certain other tax brackets.

Issues Related To The Measures To Stamp Out Black Money: The budget 2015 had proposed a lot of measures to stick against black money like to prevent black money generation by imposing more securities for cash transactions and making PAN identification mandatory for all transactions and many more.

This will have a positive impact as it will ensure secure transaction all over the country and will dissuade black money from Indian economy. These measures will also enable the tax personnel and investing agencies to wield a potential to fight against corruption.

Impact Of Sukanya Samriddhi Account Scheme: The budget had step forward to empower girls in India. It is good news for the families with girl child. The FM proposed a province for the Sukanya Samridhi account holders.

The returns from Sukanya Samridhi Account Scheme will be exempted from income tax and the contribution made under this scheme will be allowed with deductions under the section 80C of Income tax. The deduction under this section will offer a 9 percent interest instead of 8.7 percent offered by the public Provident fund.

Read More: 10 Best Players In Private Equities

RBI May Cut Interest Rates As Early As This Week: Analysts