India raised the personal tax exemption limit by Rs. 50,000 for those below the age of 60 as finance minister Arun Jaitley presented his maiden budget aimed at boosting growth to create millions of new jobs.aitley said, in the current fiscal, the non-tax revenue was seen at Rs. 2.12 trillion rupees, while the capital receipts were seen at Rs. 739.5 billion.In another major move, the foreign direct investment (FDI) limit was raised to 49% in insurance and defence. Jaitley also promised a stable tax regime and the formation of a high-level committee to deal with retrospective taxation, but refused to change rules in such cases.




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