The union budget is expected to be very consumer friendly, economists say its quite unexpected, the news of reiterated income tax slabs.There is a drastic difference with the previous slabs.Check Old tax slabs.Experts and govt says it need more money with the consumer.While presenting the budget to the house, finance minister said India had dodged the financial crisis successfully and revision of the income tax plans will surely help a major percentage of the tax payers. The government would allow a deduction of up to Rs 20,000 for investments in long-term infrastructure bonds. The deduction would be in addition to Rs 100,000 allowed under Section 80C of India’s Income Tax Act.So a total of Rs 1,20,000 is exempted from tax.

The budget news made the mumbai stock rally 400 points up initially but later it came down, but overall sensex closed around 175 points higher than the previous day.

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