The Union Budget for 2010-2011 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday proposes no change in the Income Tax exemption limit and relief in all the three slabs. He announced that the exemption limit would remain the same at 1.6 lakhs rupees. Those drawing income above exemption limit upto 5 lakhs rupees will have to pay 10 per cent tax and those earning between 5 lakh to 8 lakh rupees will pay 20 per cent tax. For income above 8 lakhs, the tax will be 30 per cent. Mr. Mukherjee also provided an additional 20 thousand rupees as tax saving for investment in infrastructure bonds. This would be in additional to one lakh rupees tax saving already provided. Contributions to CGHS will also be tax free. Higher exemptions for women and senior citizens will continue. Giving relief to the corporate sector, the Minister announced that the current surcharge of 10 per cent has been slashed to 7.5 percent but the rate of Minimum Alternate Tax has been increased by 3 per cent from the present 15 per cent. Turning to indirect taxes, the minister said that with the symptoms of economic recovery more wide spread now, the fiscal stimulus is being partially rolled back. The budget proposes increase in central excise duty on all non-petroleum products from 8 per cent to 10. Basic duty of 5 percent on crude petroleum, 7.5 percent on diesel and petrol and 10 per cent on other refined products has been restored. He also proposed a hike of one rupee per litre in excise duty on diesel and petrol. Other highlights of the Budget are: Four pronged strategy for agriculture growth; move towards direct transfer of subsidies to farmers; a nutrient based fertilizer subsidy policy for better returns; 400 crore rupees to extend green revolution to the eastern region; 300 crores for 60,000 pulses and oil seed villages; more credit support to farmers ; exemption of service tax for transportation of cereals and pulses by road; concessional customs duty for agriculture machinery;Thirty seven per cent of total plan outlay for social sector; Rural infrastructure allocation up by 25 per cent; National Social Security Fund for unorganized sector; concession to pending housing projects; higher allocation to education, health, urban development, defence and Minorities and Women; special scheme for women farmers;Gold and Silver to cost more, Rodium to cost less; Large cars, multi-utility vehicles and sports utility vehicles to cost more; Incentives to clean energy; LED lamps, electric cars, wind and Solar energy equipment to cost less; national clean energy fund set up;Smokers and tobacco chewers to pay more; Long pepper, water filters without RO technology, medical equipment to cost less;Relief to film and cable industry; Mobile phone accessories to cost less; No change in Service Tax rate; net widened; Fiscal deficit pegged at 5.5 per cent .