Finance Minister Arun Jaitley has said that the government has to make provision of 1.1 lakh crore rupees in the new budget to meet the liabilities on account of implementation of 7th Pay Commission, PC, recommendations and One Rank One Pension for ex-servicemen. Addressing the Parliamentary Consultative Committee meeting of his Ministry in New Delhi, he said this year the government has spent more but still, it will very well manage deficit targets. Mr. Jaitley further said so far, loan of 90 crore rupees has already been disbursed in the current fiscal to more than two crore micro, small and medium enterprises under MUDRA Scheme. The Minister said, more incentives would be given to the agriculture sector to increase production and productivity. He said, highest ever amount was given to the States for drought relief during the current financial year.During the meeting, several members suggested raising tax exemption limit for middle and salaried class from 2.5 lakh to 4 lakh rupees as well widening of tax base and severe punishment for tax evaders. It was also suggested that threshold limit for mandatory Pan Card requirement for any transaction above 2 lakh be raised to 5 lakh rupees.