Presenting the budget, for 2014-15, Finance Minister, Arun Jaitley announced amidst thumping of desk by members of the treasury benches increase in the Income tax limit by 50,000 rupees to take it to 2.5 lakhs for individual tax payers who are below 60 years. He proposed a similar hike for senior citizens to take it exemption limit for them to 3 lakhs. However, he did not propose any change in surcharge rates for corporates, individuals and others.For detailed Budget speech click here:Audio: AudioText: Text