Income Tax exemption limit for individuals raised from one lakh 60 thousand to one lakh 80 thousand rupees. The age of senior citizens for tax benefits has been brought down from 65 to 60 years and the exemption limit raised for them from two lakh 40 thousand to two lakh 50 thousand rupees. The exemption limit for a new category of very senior citizens over the age of 80 and above will be five lakh rupees. Finance Minister announced an allocation of an additional eight thousand crore rupees for development package for Jammu and Kashmir. Allocations for backward region grand fund also to be increased by 35 percent. The Finance Minister also proposed a three fold increase for creating infrastructure for judiciary. The allocation for social sector to be increased by 17 percent and education by 24 percent. The allocation for Sarva Shiksha Abhiyan has been increased by 40 percent to 21 thousand crore rupees from the present 15 thousand crore. Initiating a pre matric scholarships for the benefit of SC/ST children in class 9th and 10th, Mr. Mukherjee said that this will benefit 40 lakh such students. Rashtriya Swasthya Bima Yojna has been extended to Mahatma Gandhi NREGA workers and Bidi workers. It is further being extended to unorganised workers of state and other sectors. The old age pension for people under below poverty line is proposed to be increased from two hundred to five hundred rupees. He said, banking facilities will be extended to 50 thousand more villages in the next financial year. Stating that black money stashed in foreign banks remains a serious concern, the finance Minister also listed several measures in this regard including five pronged strategy already announced. He also spoke about the study to be conducted on unaccounted wealth.