·  Rs 1 lakh consolidated exemption limit for all tax payers before computing taxable income.

·  Women & senior citizens with Rs 1.5 lakh exempted

·  Section 88 of IT Act removed No LIC, No ICICI will help now.  LLLLLLLLLLLLLLLL

·  Corporate Income Tax at 30%, 10% surcharge

·  Surcharge on cash withdrawals above Rs 10,000 per day. LLLLLL

·  Direct taxes to yield Rs 6,000 crore, indirect taxes revenue-neutral.

·  Countervailing duty on IT products proposed. Software exempt from proposed duty

·  Branded jewellery gets more expensive with 2% excise duty. Duty on Imitation jewellery down.

·  Edible oil & vanaspathi to become cheaper

·  Govt will provide Rs 3,644 crore for rehabilitation of tsunami victims

·  Cigarettes and tobacco products get more expensive. Bidis spared.  

·  No customs duty on LPG, kerosene

·  Rs 83,000 crore for defence

·  Customs duty on textile industry down 20%to 10%

·  Customs duty on select capital goods to be below 15%Customs duty on polyester products down 20% to 15%

·  Rationalisation of stamp duty proposed

·  Tax relief to small scale industries, exemption limit up to Rs 4 crore.

·  Subsidy regime to continue.

·  Rs 100 crore grant to make Indian Institute of Science, Bangalore, a world-class university.

·  High-power committee to make Mumbai a regional financial hub

·  Inflation reined in, business confidence restored

·  Food-for-work programme in 150 districts

·  Allocation for education for 2005-06 will be Rs 18,337 crore

·  Industry growth pegged at 8%

·  Work on AIIMS-like institutions to begin to promote medical educations

·  Budget to focus on growth & job creation

·  IT industry to offer 7 million jobs by 2009  

·  Textile sector to offer 12 million jobs in 5 years

·  Fertilizer subsidy to be at Rs 162.54 crore

·  2000 research fellowships for SC/ST students

·  Rs 14,379 crores for women's development. All departments to provide gender-based Budgets.

·  Rs 3010 crore for mid-day meal scheme

·  Special package for Bihar, J&K and North-Eastern states to continue. Rs 7,975 crore grants for Bihar in five years.

·  Rs 300 crore for Baglihar project

·  Ambitious Bharat Nirman plan to provide rural infrastructure by 2009.

·  Budget to support services sector through policy and tax initiatives.

·  Rs 630 crore for National horticultural mission, which will be launched on April 1, 2005

·  Increase in flow of agricultural credit

·  Allocation for Rajiv Gandhi drinking water missionincreased to Rs 4750 crore in 2005-06 from Rs 3300 crore in the current year.

·  Accepts report on reforms in Co-operative banking sector

·  Govt to promote microfinance and credit linking.

·  NGOs, SHGs to become micro-insurance agents.

·  Central assistance for recruitment and posting of Urdu teachers in primary and upper primary schools where majority of students speak that language.

·  New scheme to revive manufacturing sector with focus on medium and small scale industries.

·  Package for handlooms & weaving industry.

·  Scheme for revitalisation of sugar factories

·  Policy support for pharma and Biotech sectors.

·  Equity support to small and medium industries in knowledge sector

·  $150 billion export target for 2008-2009

·  Govt to explore FDI in new sectors: mining, trade and pensions

·  Rs 1,100 crore for rural electrification

·  Special-purpose vehicles to finance infrastructure.

·  Seeks infrastructure projects for metros, big cities.

·  RBI to unveil reforms roadmap for banking sector

·  Legal framework for bond trading and securitisation.

·  Rs 1400 crore provided for creation of 4000 km of four-lane highways.

·  Fiscal deficit target to be achieved. Revenue deficit stands at Rs 95,300 crore. Fiscal deficit at 1.51 lakh crore

·  Service tax net widened.

·  Twelfth Finance Commissions recommendations would cost the exchequer Rs 26,000 crore in 2005-06. VAT to be implemented from April one, 2005