Budget 2015: 7 Takeways For the Common Man

Transport Allowance: There are no actual giveaways from the budget 2015-16. Besides the high hopes on increase in threshold levels of incomes that would be subject to Income Tax and increasing tax base have come crushing down. The government chose to increase the conveyance allowance for the salaried class. It is increased from 800 to 1, 600 per month.

Universal Social Security System: India will soon have Pradhan Mantri Suraksha Bhima Yojana to cover accidental death risk of 2 lakh, just at a premium of 12 per annum. The Finance Minister is keen on creating a universal security system for the poor and he even announced that this scheme is soon to be launched.

Similarly, Jaitely announced the proposals of Atal Pension Yojana, which will provide a defined pension, depending on the contribution, and its period. To encourage people to join this scheme, the government will contribute 50 pct of the beneficiaries’ premium, limited to 1,000 each year, for five years, in the new accounts opened before 31st December, 2015.

Another security scheme the government announced is Pradhan Mantri Jeevan Jyoti Bima Yojana, which covers both natural and accidental death risk of 2 lakh. The premium will be 330 per year, or less than one rupee per day, for the age group 18-50.

Also Read: Gender Ceases To Be Predefined On Facebook
India's Carbon Emission Increased By 1.57pct: Govt