Can we expect “common man's” budget from Finance minister??

Can we expect “common man's” budget from Finance minister??

Every body in India is anxiously waiting for what are the taxes imposed and what tax incentives finance minister of India is imposing in union budget.

In India common man is much burdened with increasing taxes and increasing prices. Inflation is touching nearly 7%. Government is increasing the interest rates to restrict money supply.

Finance ministry may help the common man and salaried employees if he can give the following.

Non tax slab upto 2 lakhs
Income tax slab 5% from 2 lakhs to 2.50 lakhs
Since the fuel prices are increasing increase the exemption under conveyance allowance upto Rs 1000

Exemption under 80C

Exemption limit increase from present 1 lakh to 2 lakh
Working women from 1.35 lakh to 2.35 lakh
Senior citizen from 1.85 lakh to 2.85 lakh
Age limit for exemption under this section to senior citizen should be decreased from 65 to 60

Exemption under 80D

Deductions under mediclaim policies should be increased from Rs 10000 to 20000